9.29.2020 Update (Tue)
$10,621
+0.25%
BTC
$353.9
-1.01%
ETH
$0.2409
-0.99%
XRP
$45.21
-1.89%
LTC
$225.8
-1.57%
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. As mentioned in the weekly outlook, we are in fairly complex Elliot Wave count territory. As a result, a must have entry requirement for longing the current situation is overly bearish short-term sentiment. The zones I’m interested in are 10k and 10.5k for now.
Short-term Outlook
The ever changing battlefields on the hourly time frames
BTC
NEutrAL to bearish
Even though sentiment is neutral to bearish, I think technicals show more drop potential from 10.75k. For the long side, I would at least wait for 10.5k AND when both the 60min and 15min RSI shows bullish divergences.
ETH
NEutrAL to bearish
Sentiment neutral to slight bearish across exchanges. Not conclusive yet. If BTC drops further, it will likely impact alts. Potential reversal zone is around 340 for ETH. There’s a small likelihood that ETH is currently hitting the bottom of the diagonal channel upwards, but I don’t like the R:R for this setup. I would need both 15min and 30min RSI bullish div to enter ETH long today.
XRP
NEutrAL to bearish
Sentiment neutral across exchanges. 4hr RSI about to reject either MA or the key 60 lvl. 4hr MACD down crossed on the positive side. Hourly RSI & MACD also loosing strength. Zone of long interest 0.23-0.234.
LTC
NEutrAL to bearish
Sentiment neutral to bullish, which is a bearish sign. Technicals similar to XRP.
BCH
NEUTRAL
Sentiment neutral. Technicals are not as bearish compared to the other coins.
