Weekday Update (9.17.2020)

Long-term Outlook

The big picture on the daily time frames

BTC

Bullish

BTC remains in a bullish trend, and we are in the dip zone. However, the SOPR needs to pick up in the next few days in order for the bull trend to continue. Which means, at this point, if BTC drops below 10k, the trend will likely switch to bearish, which will completely alter the current strategies. Before then, buy the dips.

Short-term Outlook

The ever changing battlefields on the hourly time frames

BTC

Neutral to Bullish

Sentiment slightly bearish on Bitmex and Huobi, neutral on Bitfinex, and slightly bullish on FTX. Start taking scalping profits while there’s still liquidity. For smaller positions, we will likely retest the 11.3k level.

ETH

Neutral

Mixed sentiment across exchanges. Open interest remains at low levels.

XRP

Neutral TO BEARISH

Similar to ETH, XRP sentiments are mixed across exchanges. However, with most exchanges getting to the overly bullish side, and a bearish hourly candle, XRP has more downside room than up in the next 24 hours.

LTC

Neutral

Mixed sentiments across exchanges. Not conclusive at this point.

BCH

BEARISH

Sentiment slightly bullish to bullish across all exchanges. More room to drop than rise for now. Open interest high -> more chance of the drop happening. I wouldn’t long BCH in the next 24 hours.

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