Some heavy market indecision has been brewing on social medias, but setting all sentiment aside, we can look at solely technical analysis and it turns out there is some indecision in the market overall as there are numerous altcoin setups that look very bearish and some looking very bullish. To highlight a few examples that are actively forming to keep an eye on, let’s start with some bearish setups:
Starting with BAND posted above, it has had a large drop, and now forming a weak recovery in the form of a bear flag. If BTC turns bearish and breaks this flag lower, BAND could see a move down to the -0.272 Fib around $0.75.
Next up we have COMP with a very similar setup; large drop and now moving through a bear flag.
BCH as well, very similar setup with some resistance overhead
And the last bearish-looking setup I’ll share is YFI.
To provide an example of a TA-bullish setup we can use ACH. Currently forming an ascending triangle. If this breaks higher, the first target is not very high at only $0.0215
And the only other I’ll drop with this post is BTC. Note this is a 1day chart so a different point of view from the altcoins shared. But BTC on a daily chart is a retest of support currently in a bull flag if solely looking at TA.
The market has a lot of indecision currently, so trade safely. These charts are solely ideas to keep an eye on for when the market begins to trend again.
Some heavy market indecision has been brewing on social medias, but setting all sentiment aside, we can look at solely technical analysis and it turns out there is some indecision in the market overall as there are numerous altcoin setups that look very bearish and some looking very bullish. To highlight a few examples that are actively forming to keep an eye on, let’s start with some bearish setups:
Starting with BAND posted above, it has had a large drop, and now forming a weak recovery in the form of a bear flag. If BTC turns bearish and breaks this flag lower, BAND could see a move down to the -0.272 Fib around $0.75.
Next up we have COMP with a very similar setup; large drop and now moving through a bear flag.
BCH as well, very similar setup with some resistance overhead
And the last bearish-looking setup I’ll share is YFI.
To provide an example of a TA-bullish setup we can use ACH. Currently forming an ascending triangle. If this breaks higher, the first target is not very high at only $0.0215
And the only other I’ll drop with this post is BTC. Note this is a 1day chart so a different point of view from the altcoins shared. But BTC on a daily chart is a retest of support currently in a bull flag if solely looking at TA.
The market has a lot of indecision currently, so trade safely. These charts are solely ideas to keep an eye on for when the market begins to trend again.