Welp! There goes another trading day!

And with that, here is my(unfortunately not very consistent or popular) analysis of what happened today in my favourite 3 cryptocurrencies (I trade all of them daily), as well as what we might expect to happen tomorrow.

Let's start with the most obvious one:

BTC/USDT

BTC has been stressing many investors out. (Not me though. I have made so much money buying the dip, o think I'll actually withdraw some for once). It dips very low and spikes back to the top, and many traders bought the 10.2k dip about a week ago, hoping to short at a spike to 10.5k. That spike flashed some time last week, and that was the end of that. Bitcoin has seriously corrected in the following days after that.

Here is a chart to aid visualisation:

As we can see, a flash crash down to the previously very strong support of $9350 occured today. This flash happened in one long bearish candle, and trader @hornhairs called this flash out yesterday night. Props to him, and you should probably follow him on Twitter.

Anyway, after the flash crash, trading volume has dipped annoyingly low. The volume shows over 780 million in USDT on Binance, but most of those are short orders waiting to be filled. Most people bet on Bitcoin's price falling down to 9k. Only time will tell.

What can we expect tomorrow? Well, a wise trader once said that it is impossible to predict what will happen tomorrow. But we'll try anyway.

Given that a rebound occured almost immediately, signifying a rejection of that 9350 test, it is almost certain that Bitcoin will range for a while. That said, the Bollinger bands have started showing signs of contraction on the one hour chart, and the RSI is approaching overbought conditions. This might signify a reversal in trend soon, but this reversal might equally be a correction to the downside. Let's wait for tomorrow.

BAT/USDT

BAT has had a very rough week. From it's lofty heights of appreciating over 11% on the day, to crashing and burning back to support. What can be next for this pioneering coin?

Well, unlike Bitcoin there was no all time new low that was formed on this chart today. There was regular ranging movement, but similar to bitcoin, there was also a flash crash to the downside. This signified buyer exhaustion, and the sellers basically took it up from there.

The volume is super low, and I won't advise that anyone even bothers trying to A/B this chart even. It will end in tears.

What can we expect from BAT tomorrow? Once again, the RSI is looking like it wants to move back to oversold regions, and the Bollinger bands have squeezed, but are pointing to the downside. It might be a tough tomorrow for BAT.

Lastly we have the ETH/USDT pair. Possibly the worst of the bunch.

This particular pair dropped over 11% today alone, shocking most investors. All my short positions were closed prematurely, which is very annoying, but I digress.

Just like all the other coins before it, the case is the same. RSI is approaching the oversold regions, the bands have squeezed and are pointing downwards. Rough tomorrow for ETH also.

Thanks for reading up till this point, and for putting up with my boring jokes. We'll see what tomorrow brings. Cheers!