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Bitcoin's movement had some soft sell signals toward the beginning of this week. Congrats to those of you who were able to take advantage! For those who missed out - don't worry. It looks like the end of the dip is nearing. The Stochastic RSI is indicating that BTC is underbought. In addition, the Ichimoku cloud is indicating a strengthening trend. While the MACD is still declining, we all know that the cross can happen rather quickly. I expect a slight dip in BTC until the Senkou A and Senkou B signal a strengthening trend. When this happens, I'd expect to see the Stochastic RSI increase and the MACD lines cross. One further signal that indicates a price reversal into another increase is the Chiku Span. This trailing indicator is slightly higher than BTC current price, signaling that the price of BTC is likely to bounce back up soon.
Ethereum ETH:
If you were following the Ichimoku Cloud closely then you probably already sold some ETH for a few pips. If you haven't sold yet, now would be a good time to do so. If you're catching this on the 13th, you may have missed your window. Watch carefully over the next day or so because ETH is likely to bounce back soon. The Stochastic RSI is indicating ETH is under bought. In addition, the MACD lines look close to crossing and the overall trend of the cloud seems to be a rising one. The price is slightly higher than the Chiku Span, and the MACD is indicating a downward trend. I predict this slight dip to continue into the morning of the 12th. Afterwards we should see some additional buy signals from both the Cloud, Stochastic RSI, and MACD.
If you're looking for a time to buy into ETH, or to purchase some more, the 12th or 13th will probably be your best bet for the next week.
Binance BNB:
If you're trading BINANCE this week, go take a look at what I wrote for ETH. The analysis is practically identical. The short of it is; I'd sell for some pips now and be prepared to buy back in shortly.
Cardano ADA:
Cardano has had an interesting run in the past week. It continues to see resistance around the 2.3 level. The Stochastic RSI is indicating that ADA is under bought. In addition, the MACD is declining and the Chiku Span is even with a declining price. Those of you who were watching ADA recently probably already sold what you purchased on the 8th for some pips. If you are catching this after the 11th, I would probably wait to sell until the next sell indicator.
Fortunately, a new entry point seems to be approaching. The Ichimoku Cloud indicates a strengthening uptrend on the 12th. ADA is likely to dive a little bit more throughout the 11th and maybe through most of the 12th. After that, I'd expect a few days of gains. Once the Stochastic RSI is indicating overbought, I'd dump while it's rising to take gains.
Disclaimer: This is not financial advice. I am just a normal guy who likes crypto and I am sharing my thoughts and predictions. Please DYOR.
