BITCOIN FORECAST, BTC PRICE ACTION - 22 APRIL 2019

fieldsofgold (41)in #financial • 6 years ago (edited)

22 APRIL 2019 | Darcy K. Butcher, MA, Journalist | Pacific Rim International

BITCOIN FORECAST

Things are getting really tight with this current sideways range. Two possibilities: A break up to $5800-6000 range or a move down to test $4900-5000. Bitcoin has been holding the daily EMA as support and lack of volume has been keeping it in range. Massive caution is notable as massive resistance overhead and grinding on resistance with small walk up. A more bullish resolution to upside of $5700 is perking back up and sign of strength on daily timeframe. The 12-hour timeframe has had been supportive for the Bulls supporting an ascending triangle. The 55/200 Bull Golden Cross is indicated for more overall more Bullish upside on a next leg up. Historically, the Golden Cross in this area was September 2016 when BTC was $600. Weekly Golden Cross is one to three weeks on the horizon if range can be held. A violent downside drop is indicated with the current situations as well.

Upside is the .618 Fib at $5758-5800
Top range short term $5480
Key areas to hold: $5300-5424, then $4958-5000
Weekly looks like it wants to take a leg up
The 3 Day is signaled red but no short has called as pointing upwards
BTC has seen a near 35% rise on this bull move

MARKET OVERVIEW

Things are shifting. Looking back to April 12th the 15 minute time frame is signaling oversold conditions which usually signals a small short term bounce then another leg down. There is now a little bit of a shift now occurring. Bitcoin saw a small bounce is $5227 to $5255. BTC did lose the upward trend but no where near 4 hour oversold and is holding quite well. Markets are always in cycles and certain indicators work well then with a shift new tools need to be utilized. BTC dropped down to a lower low.

Bitcoin has lost the 4 hour uptrend
Bitcoin is holding but is tightening more and more
Lower high of$5360, double topped here
Daily consolidation has hardly begun
12 EMA is still being held so this is a weak pull back
$4901 needs to break to signal favor for the Bears

FEAR AND GREED INDEX

BITCOIN IMPORTANT RANGES

Please check your specific exchange for the most accurate detailed numbers on fib levels.

$5918
$5347
$5000
$4465
$4136
$3545

Important area which must hold: $4130 - 4150 (the 200)

CME FUTURES GAP

$4850
CEM FUTURES CLOSE FRIDAY 26 April 2019

LITECOIN CLEAR SIGNAL AND SUPPORT

Litcoin has been a leader in this space. What has changed? Looking at LTC/BTC the base of support is grinding down in a descending triangle with a short term bear brake after four touches on the bounce up which did not follow through. Volume and RSI levels signaled oversold on LTC. RSI on Litecoin dropped down to 7 RSI then 5.

Has been showing loss of momentum since 15 April
In a current daily downtrend
Looking for weekly higher low
Anything under $82.40 is lower high
$74.95 can signal favor for the Bears failure to consolidate downward forms a Bull Flag

ETHEREUM

Daily set up: High was tagged at $187.62 and low of $177.84 was hit
Looks like attempting to consolidate to $156 even more without Bulls stepping in
Volume would bring a nice Bull Bounce
Under $174.75 signals break down next 2-3 days

XRP/BTC

Much more choppy and unclear than high market coins
Range is looking for higher low compared to 31200
Bottom here at 31200 is a signal for oversold and if holds then a bounce is expected
Anything under 33100 is just a lower high compared to 34900

ADA/USDT CARDANO

Has been sideways for a long time experienced weekly consolidation, back testing support and volume is declining.
ADA ran hard for six weeks. The 4 hours RSI is down and has rejected multiple times. No clear support till 0668. ADA is healthy compared to the size of the move.

The 4 hour rejecting
Daily RSI dropped down to low 40's
Looking at lower 4-hour trend change to indicate new weekly higher low has formed
This would signal good possibilities for the Bulls
Many are looking for entry

BINANCE BNB

NEW ALL TIME HIGHS which has been very notable. Watching oversold conditions. Hourly RSI shows a good entry for a quick flip. $22.50 to $25.49. Looking for change for daily uptrend. It has lost the trend but with no follow through. The news of the release of BNB net has driven price action up. A bear cross is on the horizon. It has been on uptrend for two months.

Tip Wallet

I buy canvas and paints for my abstract painting with contributions

Contribute to Darcy's work here

RVN: RSoGtGuYYwNL8L7hYZEZNU6gHi92AQ6bWB
BTC: 17ensjJ2gaKfNfaZhzU7cEtJmV1Govtqq
LTC: LPKiZK65DFCoVQu7RAAizK1cCj4C9qcAHg
BNB: 0x2a19200dec8b815035960ad703e03a3f7796bbfd

Darcy K. Butcher, MA. BA Print & Photo Journalism
Writer, Print and Photo Journalist, Blockchain Educator
I am interested in cryptocurrency as a social, cultural, financial point of view.

For educational purposes only. This is not financial advice. DYOR
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