9.23.2020 Update (Wed)

$10,531

+1.10%

BTC

$344.3

+1.22%

ETH

$0.2331

+0.82%

XRP

$44.51

+3.20%

LTC

$220

+3.68%

BCH

Long-term Outlook

The big picture on the daily time frames

BTC

Bullish

Not much changed in the past 24hours long-term speaking. BTC remains in a bullish trend, and SOPR gave out a “decr. in supply” alert yesterday with the BTC drop from 11k+. These are great R:R zones for longs. The key to watch out for is the SOPR trend. At this point, if BTC drops below 10k, the trend will likely switch to bearish, which will completely alter the current strategies. Before then, enjoy the dips in bull runs! The zone for accumulation is now around 10.3k.

Short-term Outlook

The ever changing battlefields on the hourly time frames

BTC

Neutral TO BEARISH

The rise yesterday brought sentiment from overly bearish to neutral across exchanges. 1hr RSI still need a dip to 10.3k to form a larger bullish divergence.

ETH

Neutral TO BEARISH

Sentiment neutral to slight bullish across exchanges. Open interest low. So the chance of a long-squeeze is low. However, technical analysis speaking, we are missing another downward leg for EW, forming a larger RSI bullish divergence.

XRP

Neutral TO BEARISH

XRP sentiments neutral across exchanges. However, similar to many other coins, there’s an inverse flag formation in-play. Hourly RSI hitting 60 resistance.

 

LTC

Neutral

Slight bearish sentiments across exchanges, which is a small bullish sign. However, the technical are not clear at this point especially with BTC/ETH having a bearish bias.

BCH

NEUTRAL to bullish

Sentiment having a small bearish bias. 5 Elliot waves to the down side potentially finished. 4HR RSI about to find support at the bull range support (40).

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