Daily Update (9.18.2020)

Long-term Outlook

The big picture on the daily time frames

BTC

Bullish

BTC remains in a bullish trend, and we just rose slightly from the dip zone. 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! Doesn’t happen often, and has great risk reward ratios.

Short-term Outlook

The ever changing battlefields on the hourly time frames

BTC

Neutral to Bullish

Sentiment bearish on Bitmex and Huobi, neutral on Bitfinex, and slightly bullish on FTX. Compared to yesterday, BTC has a higher chance of upward run in the next 24 hours. Be careful about the 11.3k level. Resistance expected.

ETH

Neutral

Mixed sentiment across exchanges. Open interest just started to pick up.

XRP

Neutral TO BEARISH

Similar to ETH, XRP sentiments are mixed across exchanges. Slightly more downside room than up given the bullish bias.  

LTC

Neutral

Mixed sentiments across exchanges. Slight bullish bias on Bitmex and FTX, while slight bearish bias on Huobi.

BCH

NEUTRAL

Sentiment slightly bullish on Bitmex, Bitfinex, and FTX, bearish on Huobi.

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