10.6.2020 Update (Tue)

$10,795

+1.16%

BTC

$353.7

+0.34%

ETH

$0.2507

+1.05%

XRP

$46.35

-0.74%

LTC

$221.8

+0.31%

BCH

Long-term Outlook

The big picture on the daily time frames

BTC

Bullish

BTC remains in a bullish trend with the active seller group still selling in profit, which means buying the dips will still be the priority. Two strong supports below are 10.3-10.5k and 9.3-9.6k. SOPR is close to one, which means the next dip buying opportunity will likely coincide with a “decr. supply” alert.  

Short-term Outlook

The ever changing battlefields on the hourly time frames

BTC

NEutrAL to bearish

Sentiment neutral to bullish, which is a bearish sign. CME gap still open starting from $10.5k. BTC is traveling in a triangle with resistance at the 10.7-10.8k zone, so I expect a bearish push in the next 36 hours or so. Technical indicators speaking, 1hr- have already shown bearish signs.  

ETH

NEutrAL to bearish

Sentiment mixed across exchanges. First wave diagonal finishing on the 4hr. 1hr- oscillators loosing strength.

XRP

NEutrAL to bullish

Sentiment neutral to slightly bearish across exchanges, which is a slightly bullish sign. 4hr missing a wave 5 to the upside. Alts do have extra fuel after the BTC pump, so I’m neutral to bullish on XRP for the next 24 hours.

LTC

NEutrAL

Sentiment mixed across exchanges. Technicals showing mixed signals. I would wait till the picture clears up.

BCH

NEUTRAL

Sentiment neutral to slightly bearish across exchanges, which is a slightly bullish sign. Likely traveling within the channel today with a small upward tilt.

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