9.25.2020 Update (Fri)
$10,740
+4.93%
BTC
$349.1
+8.89%
ETH
$0.2329
+5.15%
XRP
$44.95
+4.66%
LTC
$216
+4.14%
BCH
Long-term Outlook
The big picture on the daily time frames
BTC
Bullish
BTC remains in a bullish trend, and SOPR gave out another “decr. in supply” alert (despite the 4.9% increase yesterday). This means supply will continue to decrease, giving additional upward potential in the coming few weeks. 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!
Short-term Outlook
The ever changing battlefields on the hourly time frames
BTC
NEutrAL to bearish
Sentiment neutral to bullish -> bearish sign. Technicals looking bearish for the short-term. 5 sub-waves likely over to the upside. Fib 0.618 hit. Need some time to cool down after yesterday’s rise.
ETH
Neutral
Sentiment neutral to bullish across exchanges. Open interest picking up. Potential risk of long squeeze today if Huobi and FTX gets overly bullish as well. However, technicals speaking, still some short-term room to grow (no clear RSI bearish div on the hourly yet). As alts tend to get bullish when BTC consolidates after an uprise, I would give ETH neutral rather than neutral to bearish today.
XRP
neutral
Sentiment mixed across exchanges. Technicals similar to ETH. High chance of correction in the next few hours. However, may continue the upward momentum afterwards.
LTC
Neutral
Sentiment neutral. Technicals similar to ETH. High chance of correction in the next few hours. However, may continue the upward momentum afterwards.
BCH
NEUTRAL
Sentiment neutral. High likelihood of correcting to 212 in the next few hours. Then uprun may continue.
