- Technical divergences appear short-term.
- This is a favorable situation for extreme movements.
- Current price levels can stay with us for a long time.
After a day of ups, today the Crypto market is weakening and the fear has reappeared among investors. Traders live on volatility without too much attention to market direction and should be happy.
With the passing of the hours, it does not matter if BTC / USD negotiates below $ 4,000 or if ETH / USD is playing very close to the $ 100 barrier. The rankings tell me that they are not values that markets consider normal. He tells me that they are showing significant divergences in time intervals of less than 6 hours and show a buyer's interest that the price does not reflect. It also shows that it is likely that it will take a few weeks to see these technical divergences in the daily series.
Do you want to know more about my technical configuration?
BTC / USD 240 minutes.
The BCT / USD exchanges at $ 3,639 Price level. It seems that today it can move towards the recent lows below $ 3,500.
Below the current price, the first support for the BTC / USD is at the level of $ 3,466 (annual minimums). If the BTC / USD had lost its annual lows, volatility would increase considerably. The second level of support a $ 3,250 (support for price congestion) is the last barrier you can avoid seeing King Bitcoin below $ 3,000. The third level of support is a $ 2,890 (support for price congestion).
Above the current price, the first resistance for the BTC / USD is at the price level of $ 3.922 (resistance to price congestion). The BTC / USD has tested this resistance and failed to maintain it for more than 12 hours. The second resistance is a $ 4,300 (Exponential moving average of EMA50 or 50 periods). A little above this price level is the third resistance level a $ 4,400 (resistance to price congestion).
The 240-minute MACD shows how this indicator does not reflect every new minimum in the same direction. This situation is called "divergent structure" and is one of the most exciting models out there. It does not indicate future increases. The market can be in this situation for a long time. However, it suggests that part of the market believes that there is an excellent place to buy and build a portfolio.
The 240-minute DMI reinforces the idea that the MACD gives us, and we see how the bulls have increased activity in the last days, while the bears are not so sure of continuing to contribute to the decline.
XRP / USD 240 minutes.
The XRP / USD exchanges at $ 0.349 Price level. Last week he lost the critical level of $ 0.40, and the decline was significant. Its structure does not show divergences as does the BTC / USD.
The XRP / USD is just above the first level of support a $ 0.3454 (support for price congestion). The second level of support is a $ 0.323 (relative minima and price congestion support). The third support level is already below $ 0.30, precisely a $ 0.2969 (support for price congestion).
Above the current price, the first resistance for XRP / USD is at the price level of $ 0.368 (resistance to price congestion). Above this price, there is ample upside space up to the second level of resistance $ 0.405 (EMA50). The third level of resistance is a $ 0.413 (resistance to price congestion).
The 240-minute MACD shows us a profile cut upwards but not divergent with the price structure. Divergences are likely to appear in the coming days but will require prices below $ 0.32.
The 240-minute DMI shows how the bulls have increased activity in the last hours. The bears do not withdraw and seem convinced that they can close their positions at lower price levels.
ETH / USD 240 minutes.
ETH / USD exchanges at $ 105.4 Price level. The trough is slightly above $ 100. The loss of this psychological level could trigger many protection orders as well as many purchase orders.
ETH / USD also shows a divergent structure between indicators and price.
Below the current price, the first level of support for ETH / USD is at the price level of $ 94.88 (support for price congestion). The second level of support is a $ 81.6 (support for price congestion). The third level of support is a $ 70.00 (support for price congestion).
Above the current price, the first resistance is a $ 124.59 (resistance to price congestion). The second level of resistance is a $ 128.5 (EMA50). If the ETH / USD exceeds the price level of this exponential moving average, it will have access to a clean space that would allow it considerable evolution. The third level of resistance is $ 155.37 (resistance to price congestion).
The 240-minute MACD shows a divergent structure with the price. It is a clear sign of the buyer's interest. The averages are cut to the top, although in the negative zone of the indicator.
The 240-minute DMI shows buyers who react in an exaggerated way from the moment when the price approaches $ 100. The sellers for their part retire and do not seem very convinced that they can close their positions to the lowest levels.
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