9.30.2020 Update (Wed)
$10,841
+1.36%
BTC
$359.9
+1.70%
ETH
$0.2427
+0.75%
XRP
$45.69
+1.06%
LTC
$229.0
+1.42%
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
Yesterday’s analysis still holds, and BTC shows more drop potential. For the long side, I would at least wait for 10.5k AND when both the 60min and 15min RSI shows bullish divergences. Resistance at 11k. Sentiment is currently neutral and getting to the bullish side, which means if we rise to 11k, sentiment will likely be overly bullish, which gives potential to a good short scalp.
ETH
NEutrAL to bearish
Sentiment neutral to slight bullish across exchanges. Not conclusive yet. If BTC drops further, it will likely impact alts. Potential reversal zone is around 340 for ETH. I would need both 15min and 30min RSI bullish div to enter ETH long today. Bitmex premium rates need to be less bullish as well.
XRP
NEutrAL to bearish
Similar to yesterday’s analysis. Sentiment mixed 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. RSI and MACD haven’t shown signs of losing strength yet.
