11.02.2020 Update (Mon)

$13,771

-0.24%

BTC

$396.9

+2.63%

ETH

$0.2401

+0.04%

XRP

$55.65

-0.18%

LTC

$264.9

+1.94%

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. After PayPal announced its acceptance of cryptocurrency, the adoption rate will rise in the near future, contributing to the BTC long term bullish trend. As we mentioned last week, we have now consolidated in the 13.5 – 14k resistance zone. However, the margin market is still on the neutral to bearish side. Keep an eye for the potential long squeeze. Additionally, there’s a $200 CME gap from $13.5k. We could expect a minor correction. The focus is still now buying dips and now missing the larger up run.

Short-term Outlook

The ever changing battlefields on the hourly time frames

BTC

NEutrAL

Sentiment is now on the bearish side, this is a bullish sign. However, TA speaking, RSI downcrossed the MA and MACD is expected to downcross from the positive side, indicating bearish signals. 13.5k could be a re-entry point if the CME gap fills.

ETH

bearish

Margin market sentiment now overly bullish. Watch out for the potential long squeeze.

XRP

neutral to bearish

Sentiment kind of mixed. RSI is expected to downcross the MA and MACD is expected to downcross from the positive side, indicating bearish signals. More confirmations are needed for a long entry. (1D chart)

LTC

NEutrAL to bearish

Sentiment kind of mixed. RSI is expected to downcross the MA and MACD is expected to downcross from the positive side, indicating bearish signals.

BCH

NEUTRAl to bearish

Sentiment kind of mixed. RSI has downcrossed the MA and MACD is expected to downcross from the positive side, indicating bearish signals.

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