Technical Analysis - Oct 9

Technical Analysis - Oct 9

By LeaderIcarus | Crypto_Nomisma | 9 Oct 2020


Greetings everyone

and welcome to this positive - at last technical analysis. Not, as positive as i would like, but still, as you can see on the cover image (from Coingecko.com), a sea of green. The market capitalization is, also, increased to $347 billion and the daily volume is more than $50 billion.

BTC/USD

Bitcoin continues with a low market dominance - 57.8% - but we have a break out on the ABCD triangle. This in general means bullish movements, especially with the new improved MACD position at the 4 hours chart. The same goes for the daily chart, as it shows a possible uptrend signal.

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ETH/USD

Ethereum is exactly as it was. It continues to follow its triangle. Nevertheless, its share on the market stands still at 11.3%, while the fees are at low acceptable levels, while the four-hour chart shows slightly better forming a local, almost, parallel channel between $335 and $349. This creates a resistance level at $350.

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SNX/BTC

Remember the (possible) rebound to 5000sats? Well, it went exactly the opposite. This is why I would just watch the price movement, without being involved. The fast 4-hour chart has a consolidation, but the daily is bearish. I will continue monitoring the pair... from a distance!

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MONERO

Monero is well above the $100 and also broke the resistance level, and now is trading around $108. I think that at some point it must be in a correction trend, as it was one of the few that was bullish in a bear market.

 

Lastly, I would like to thank @rubica for their support!

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LeaderIcarus
LeaderIcarus

Writing is my Art. Apprentice in the crypto world, slowly, but steady steps towards Trading and Technical Analysis. Everything I say, i have already try it!


Crypto_Nomisma
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