Bitcoin (BTC/USD) Nears All-Time High on Spike Above Daily Chart Downchannel Resistance
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
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Source: http://silveristhenew.com/2017/07/21/bitcoin-btcusd-nears-all-time-high-on-spike-above-daily-chart-downchannel-resistance/
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