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.

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