This week I'm going to mix things up a little bit. Instead of doing a 1D period analysis, I'm going to try a 4H analysis. My last two posts reiterated where I thought the tokens were likely to go through mid-November/early December. A 4H analysis will provide some insights into more immediate day to day trades for this week: November 2nd - November 6th.
Bitcoin BTC
It looks like that just prior to taking this screenshot the Tenken Sen crossed above the Kijun Sen. Normally this would imply a buy signal; however, at the time of crossing, both the price and the lines were inside of the cloud. This indicates that buying in would be risky. The MACD is trending upward, but the Stochastic RSI is showing that Bitcoin is overbought. This wasn't the only cross in the cloud. There were some sell signals just before the buy signal occurred. It may not be too late to sell high and buy back in shortly. I predict a slight dip well into the 3rd. There may be some additional fluctuation in price but it seems as though you could sell on the 6th for some gains. If you're watching BTC closely the next few days, you may be able to get in a few pips.
Ethereum ETH:
The Ichimoku Cloud and MACD indicate an upward trend. The declining price makes sense since volume is down and the Stoch RSI indicates that ETH is overbought. Now would be a good time to sell at a high and then buy the incoming (and ever-so-slight) dip. The Price, Tenken Sen, and Kijun Sen are all above a "green cloud." The Tenken Sen crossed above the Kijun Sen. ETH has some strong buy signals right now. Since the Stochastic RSI is indicating overbought and the Chiku Sen is right in line with the current price, we're seeing some soft sell signals. Overall, even if you miss the sell, it looks like the upward trend will continue well into the 6th.
Binance Coin BNB:
The Binance Bus had buy signals quite a while ago. The Stochastic RSI is moving into overbought, but the MACD and Ichimoku Cloud indicate an overall upward trend. Since the Chiku Sen appears to be right in line with the price, I predict a short term dip in BNB followed by a continued uptrend. I'd watch for the Stochastic RSI to drop below overbought and for the price to move below the Chiku Sen. I don't think we'll see another clear buy signal from the Cloud for some time, but you may get a few pips in. If you have BNB, it looks like now would be a good time to sell high and then buy the slight dip before another good climb.
Cardano ADA:
Cardano appears to have continued resistance against an upward trend. The MACD looks promising, but it's also prone to false positives. Both the Ichimoku Cloud and Stochastic RSI signal toward stagnation at best and another down swing at worst. The price is above the Chiku Sen, indicating a weakening price. The Senkou A looks to cross above and then below the Senkou B just before the 4th. Even though the Tenken Sen is moving across the Kijun Sen, this looks as though it will occur while the price is within a cloud that sits above both lines. This means the buy signal contains a great amount of risk. The Senkou A appears to be moving toward the Senkou B. We may see a cross by November 8th, but it's too early to say whether it will be a short one like on the 3rd, or a long bull run. I'd watch ADA closely for the next few days to see if the end of the dip is near. A big buy before a bull run may be approaching soon.
Disclaimer: This is not financial advice. These are the thoughts from a normal man. Any use of the word "you" is merely semantic.
