#BTC update

So, we did find support at EMA200 once we broke below MA200 like we expected. Now we see that EMA200 is being tested for the second time since that crazy pump elevated us above it on Oct. 25th. The fact that we retest the support for the second time in such a short period of time is not good. Next support - point of control on VPVR at ~8300.

Support and Resistance by Ichimoku Cloud #update

It's amazing how the cloud continues to act as a perfect resistance and support

When the Altseason? Read our idea

https://www.tradingview.com/chart/ETHBTC/Z3XO9gDo-When-the-Altseason/

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Alts/Bitcoin Market Cap #update

We are facing tough resistance. Once we break it, we'll make it all the way up towards our second target (EMA50), which will mean a pretty decent altcoin party.

Ichimoku Cloud continues to support the price along with EMA200, which we are threatening to break if we close the daily candle at current prices.

If so, tomorrow the cloud support will be at 8200. Does it project further decline ?

​BTC 4h

Looks like we found support at 0.618 Fib level while being at the support line of this massive Falling Wedge.

Right know is the decisive moment: either we bounce off of the support line & 0.618 Fib and establish a bull div on RSI or break the support and go to 8200 and lower.

⚠️Here is a point of concern for the bulls - we've got the Death Cross between EMA50 & EMA200

Watch the action carefully in order not to miss the move

​BTC 4h update

The big move is coming. What we have now: the price is in a beautiful Falling Wedge, since the crazy pump on Oct. 25 we retraced by more than 61.8%, turned 0.618 Fib into resistance, Death Cross between EMA50 & EMA200, bullish div on the RSI

so, right now we have a pretty tough confluence of resistance: EMA50, which is in line with the declining resistance of the the Falling Wedge + 0.618 Fib

👉But pay attention to the RSI - it already broke out to the upside, is this a sign?

BTC 4h update

🎯Yesterday we published an update on BTC and said that we were expecting some big move. We pointed out the resistance cluster that we had to break for bullish continuation and also we mentioned that going below that red horizontal line would've been bearish.

So, after our update, BTC had a little pump right into the cluster of resistance that we outlined and got rejected there with a nasty upside wick. RSI preceded this bounce into resistance and once the price got rejected there that RSI breakout became an obvious fakeout which signaled more downside (that was our short entry in Bullet Scalping channel).

Then we started approaching that critical red line and broke it. As we mentioned yesterday, the break of this line would be bearish and it is! Notice how we accelerated to the downside once we broke the line: within one candle the price dropped by more than $350. Hope you guys could take advantage of our yesterday's analysis!

BTC weekly

On the weekly chart we are sitting at a strong support - combination of EMA50 and 0.786 Fib.

📌Notice how the EMA50 held the price in September-October and we couldn't get a single weekly close below it. Right now we are again testing it

Have you ever seen something acting as support/resistance so perfectly? It's just amazing how the daily Ichimoku Cloud has been keeping the price inside.

If we get a daily close below the cloud, we'll break 0.768 Fib and EMA50 on the weekly too. That will be the last bearish confirmation. Keep an eye on it.

BTC weekly chart update

Support got broken. The 50-Week EMA that supported the price in Sept. - Oct. failed to do this again. Need to see the weekly close. We may have a bounce and close the candle above the EMA50, but the fact that we are visiting 7.8k again is pretty bearish.

So, the Ichimoku Cloud finally broke down yesterday and today we've got a flash crash. The Cloud is fully bearish, but it doesn’t rule out a bounce

💡Here is the interesting part: today's dump is pretty similar to what he had on Sept. 24th when we broke down the triangle, because we are dumping on a daily TD-9 buy. Will today's TD-9 reverse the price? Let's see.

📌 On the lower timeframes we see some signs of a reversal. Here is another interesting thing: the sentiment has drastically changed, because the majority flipped short on Bitmex (57% short right now).

#BTC

We have incoming Death Cross between the 50-Day EMA & 200-Day EMA, which we failed to get last time due to that crazy pump, but this time we will certainly get it. Bad sign.

​ETH/USD is dangerously reaching the same critical horizontal support for the third time. This is looking pretty ugly.

[ If the support gets touched for the third or fourth time, it becomes a level that is going to get eventually overtaken. Yes, it may bounce the price again, but the probability of that happening is 10% ]

So, we warned you about ETH: we touched the resistance for the third time and breaking below it was a just matter of time. Once the support failed, ETH fell down by 12% and bumped into the next support, which is not so strong as the previous one.

This is our idea we published on Oct. 15th.

At that time we were sitting at a very critical support (8k-8.3k)

Here is a quote: “If we lose this support, fasten your seatbelts again. We have strong horizontal level at 7300, but that’s not enough. In case of a breakdown, we can find strong support at 6.2-6.6k, because it is Strong Horizontal Level + High Volume Node + 0.786 Fib and it's the ultimate target of the Descending Triangle breakdown. ”

So, the support at 6.2k-6.6k finally reached!

Alts/Bitcoin Market Cap #update

We continue to consolidate under that horizontal resistance creating an ascending triangle. Once we break out, that will be huge. The most interesting part is yet to start