Dan LeMan
Dan LeMan 5 minutes reading from Bitcoin

BREAKING: BTC Price Drops Below $9,000 Amid Continuing Sell-Off

A comprehensive overview of ETH by combining several different TFs.

Cryptos ETHMerge BTC stockmarketcrash

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ETH Daily TF: - the 9SMA is sloping DOWN while price is BELOW it. This is no bueno for the bulls and they will NEED to get back above it asap for bullish continuation. (Look what happened back @ Aug high for reference)

Cryptos ETHMerge BTC stockmarketcrash

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- price getting rejected from the 21SMA after closing below it with yesterdays sell-off

Main concern on daily TF is the 9SMA turning down.

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ETH 4HR TF: - 9SMA coming down hard & price unable to get above - bulls need to clear it before the 8PM EST close. IF closes well below, bearish continuation is likely - price finding resistance from the 21SMA on daily TF

Cryptos ETHMerge BTC stockmarketcrash

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ETH 1HR TF: - price is above the 9 & 21SMAs (bullish) but finding pressure from the 21 resistance on the daily TF - RSI looks healthy (good for the bulls)

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ETH 15MIN TF: - price is above the 9 & 21SMAs & 9 is about to cross 21 (bullish) but finding resistance as mentioned - RSI is midway in range so not overbought, but could get overbought quickly from here

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Bulls want: - to break resistance @ 21SMA on daily TF - get price ABOVE 9SMA asap and hold for the next 4HR candle close @ 8PM EST

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Bears want: - price to get rejected off the 21SMA on daily and head back down to 1550 & lower - price to reject off 9SMA on the 4HR and head lower, allowing for a bearish setup in the next candle open/close

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This post is based on this twitter thread.

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