Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Bitcoin (BTC/USD) Nears All-Time High on Spike Above Daily Chart Downchannel Resistance

% of readers think this story is Fact. Add your two cents.


Bitcoin (BTC/USD) crushed shorts yesterday, smashing above the daily chart’s downchannel resistance and soaring towards the all-time high around 3000.  With yesterday’s massive rally, the negative weekly MACD crossover has been proved a false signal.  Odds are quite good that a sustainable longer term BTC/USD bottom was found last week, especially with ETH/USD also strongly rebounding this past week.  Some consolidation can be expected today with daily RSI and Stochastics tiring, although with daily MACD just having positively crossed, more upside can be expected early next week resuming BTC/USD’s attempt to regain its all-time high.

Bitcoin (BTC/USD) Daily Chart

Ethereum (ETH/USD) rebounded strongly yesterday, reversing Wednesday’s profittaking, and reinforcing the break Tuesday above the daily chart’s downchannel resistance.  Although still vulnerable in the next several weeks to more downside (as the weekly MACD – not shown in the accompanied daily chart – has just negatively crossed this past week), odds are quite good though that the weekly MACD negative crossover has been a false signal.  The ETH/USD bounce off the 61.8% Fib retrace of the rally from the beginning of the year has been reinforced by the very powerful rebound in BTC/USD this past week back towrads its all-time high.  Further offseting ETH/USD’s negative weekly MACD crossover is the rallying or bottomish daily RSI, Stochastics and MACD.

Ethereum (ETH/USD) Daily Chart

Click here for today’s technical analysis on Cocoa

Tradable Patterns was launched to demonstrate that the patterns recurring in liquid futures, spot FX and cryptocurrency markets can be analyzed to enhance trading performance. Tradable Patterns’ daily newsletter provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.


Source: http://silveristhenew.com/2017/07/21/bitcoin-btcusd-nears-all-time-high-on-spike-above-daily-chart-downchannel-resistance/



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.