Cryptocurrency market review: #Bitcoin #Ethereum #5 June 10, 2019

Cryptocurrency market review: #Bitcoin #Ethereum #5 June 10, 2019



hi guys it's a ton of June 2019 it's around New York open but this time we are going to check Bitcoin and DT room charts so it's a crypto market preview pH here and this is like for explode YouTube channel so first risk were in guys please bear in mind trading crypto margin carries a high level of risk may not be suitable for all investors can sustain and loss of somewhere or initial investment so please do not invest the money that you cannot afford to lose all right so that's the weekly in Bitcoin chart a little bit scary yesterday and to be honest with you we were discussing this last week possibility of the swing high creation and that's what happened here what we can see on the weekly chart right the only thing I truly believe may help Bulls is that we are going to have one of these two options to the left before we saw this run to the moon alright so what I'm talking about is that because we took out and we discussed previously because we took out with this Riley five thousand eight hundred six thousand six thousand two hundred right so it might be that we have some kind of the Riley based and we might see some kind of the continuation very very similar to what we've seen here to the left right in case of the Riley based Riley for example this kind of the scenario I'm going to have the webinar tomorrow at 8:45 a.m. CET I'm going to cover basic stuff related to them and possible supply possible demands on so you're more than welcome to to join me tomorrow so the Bulls are looking for this possible scenario Riley based and Riley in that case what we have to see we have to see the weekly close below below the low we've seen two weeks ago based on my chart we are talking about seven thousand nine hundred ninety four so overall we are talking about the eight thousand right as well as would be great to engulf at least more than half of previous week previous week candle right so let's have a look from this Bulls perspective how does it look on daily and here we go the possible channel we discussed few times and there is a steel steel possibility we are going to see this once youonce scenario right once you want scenario where latest bounced retest creation of some it's not a good place to call it double bottom right just to be perfectly clear double bottom is a bottom formation right it's something similar to double bottom so once one attempt to Riley another sell-off we hold that level and what is going on right now looks like looks like it's gonna be confirmed or not at the end of the day but how it might be outside day what we have we have bottom of the channel what else we have we have bottom of the horizontal demand as well here so it's it's not it's not an accidental reversal right we are trying to reverse within the very logical within the very logical place of course challenge is going to be the low from the 3rd of June we are talking about eight thousand two hundred fifty eight thousand three hundred right but once we are above 8,000 we might to try to as a bull so you might to try to trade this bottom of the channel the possible demand based on what we've seen here so over roll from that perspective I would wait for daily clothes and then decide decide what next right okay let's have a look on the weekly again and let's discuss it from best perspective so if you are a bear if you are a bear the good thing is that bears were able to get back below what we've seen late july 2019 right this critical point ahead of this break huge break down to the downside right so two weeks three weeks ago there was a breakout to the upside right indecision candle two weeks ago right through the fight between bulls and bears some kind of the doji formation and sell off last week especially yesterday right so a little bit scary over here with this possibility of the swing high we discussed a second ago right so as a bear where you are looking for selling opportunity in between two weeks ago below 8,000 and two weeks ago open in that case eight thousand five hundred fifty thousand five six hundred right I know it's a $600 range but we are talking about the weekly chart and you want to have a small distance between the entry and stop as possible right so let's switch to the daily chart and as I as a bear what you are looking for you are looking for you know what I'm going to clean the old scenarios we have everything has happened if you check the previous videos everything here happened so I'm going to clean up a bit as I need that so as a bear you are switching to daily right where we've seen last Riley that's the last Riley right over here that's the last rally over here right so I'm looking for a possible demand we had it there right was here right so what I'm gonna to do right now I'm not interested in their lower shadows and that's my that's my first possible supply right and we are talking eight thousand three thousand one hundred fifty that's the first and the second we are talking about the low from the 3rd of June we are talking about the eight thousand three hundred right and we don't wanna see their ID and close above 8500 as it bears so we discussed both bulls and bears scenario right but I like this attempt to the to make this outside day but we have to take out this previous demand which has been broken we tested we tested and we have a problem as you can see we have a problem here as a bulls so that's how it looks from them bill Sanders perspective on the Bitcoin so let's jump in into the etherium chart as well and here no change into what we discussed so broken supply now retest that right we were discussing that for the healthy of the move for the healthy of the eventual continuation right to the upside we need to bounce in between now supply higher towards 280 300 and we have to retest this broken supply now should work as a demand something around 220 200 right so here nothing new on the ATM side let's have a look what we have on daily there is a little bit weaker right now than what we see on the Bitcoin as there is we cannot hold above the yesterday open so it's not the outside day here at right we need the close above yesterday yesterday open but I wouldn't be surprised I wouldn't be surprised that we are gonna to look for more stops on material just you know some kind of the lower shadow trying to take out all this loaves actually we try it during the Tokyo session today so but I think as of now more consolidation so as a bull you are looking to you are looking to try to buy us close us to 220 200 with the stop below 190 as a bear you are looking for some stock come to the upside with rejection right so you wanna see very similar formation we've seen over here right so right now you may want to see some attempt to go higher towards 286 and rejection it might be even 3dr Riley right so it might be some kind of like this end rejection and another retest of lower levels so that's it from me in this short crypto video market here on Monday 10th of June don't be trapped good luck have a great rest of the day take care good bye

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