This is a new section on AltcoinTrading that will have only USD and BTC charts from Bitfinex for selected cryptocurrencies with Fib retracements drawn on them and some brief commentary. It's going to be updated every day around 2AM UTC but it will stay under this current link so you can bookmark it to check for updates. The latest update date will always be in the headline.
Cryptocurrency Price Action Comments
- Someone on BitMEX is trading in a rogue way - opening two huge positions against each other, letting one get rekt which creates liquidity for the opposite one.
- Bitcoiners are happily testing out LN
- IOTA is coming to Japanese markets
Links to the last trade & settlement dates for both CME and CBOE futures are in the sidebar. There can be some unusual action on the BTCUSD markets during those times which can mess with the altcoin ratios so don't ignore that.
Fib retracement for BTCUSD
BTCUSD Comment: BTC is sitting below a resistance right now. The markets look like there will be a chop for a few weeks now, perhaps even until March if the cycles determined by quarterly contracts are still happening, so there might be some action to catch the too-eager breakout traders. There is not going to be a definitive direction for some time now, be patient.
Fib retracement for ETHUSD
ETHUSD Comment: ETH is painting similar structure as bitcoin in the USD pair, however the whole drop was not as bloody as bitcoin's: ETH didn't drop to the lower bband on higher timeframes. On the USD pair there is a resistance now, as with bitcoin, but it has implications for the ratio.
Fib retracement for ETHBTC
ETHBTC Comment: Again, the ETHBTC ratio is the one market that is closest to bullish right now.
Fibs in a spreadsheet
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