The pair breaks resistance at 1.33320s and now using it as support. This second test on support could mean we'll see a higher trend to the upside if it gets a bounce. According to DailyFX, UC is nearly 60% net long positions which means we have buyers in the market looking to take price higher. RSI now in the 40s after coming up from low 30s on the 14-Day RSI. Prices may be trying to come up to that moving average on the 4 hour chart before we see considerable resistance. A breakout and close above the green line shows that the pair has probably entered a new trend. Potential Longs: 1.33452 Potential Shorts: 1.34949
On 4h chart, entered a period of consolidation in this zone between 69.6 and 71.6. The pair nearing the bottom of the zone to possibly test support. 14-Day RSI crosses under 50 and sits at 45 showing potential that the pair still has move to run to the upside since price never hit overbought on the last high. Price is now looking at support at 69.6 while a second test on the highs at 71.6 is expected to get hit. If daily candle crosses and closes below 69.6, we will turn bearish on the pair, but for now, we think we'll see price hit resistance at 71.6. Potential Longs: 69.655 Potential Shorts: 71.649
AU on 1h chart. Mild support lies at 0.71509, but we think this week will end up to the downside as big reports come out on the pair. DailyFX shows 59% of traders are net short on the pair, and we think this will likely continue throughout the week. There are some big fundamental reasons to be bearish this week is which will be covered in Wednesday's article. Price crossed back beneath the 200 hour moving average for either a bounce at support or continued direction downward.
Bitcoin sold off hard last night, and news says it was in order to fill in a futures gap in price. So, what happened was a technical sell off with no bearish news on the crypto. The coin actually respects the 200 H moving average very well, but now hits resistance at 11939. Support lies at that moving average as well as 11809 where price just bounced off on the hourly. We're looking to see Bitcoin break the 11939 resistance, and continue its bullish momentum. The rally does not seem like it has reached its end yet. Potential Longs: 11809, 11544 Potential Short: 11939
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