Market Update

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·@srezz·
0.000 HBD
Market Update
Let's draw simple trendlines to try and figure out what the next market moves could be.  As it can be seen from the chart below,  the BTC price moves from the small and steep yellow triangle into a much bigger and shallower white one, and as we get closer and closer to its apex, the market volatility drops to such a degree, that the daily price bars  barely move against each other.  The good thing about our current situation is that we are very close to a breakout in either direction. 

If we break to the upside, we  have a $26K + white triangle price target. If the break out is going to be down, then we will get into the hands of a much larger and even more shallower red triangle with its bottom side @ ~ $4K.
https://www.mql5.com/en/charts/8482596/btcusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/btcusd-d1-simplefx-ltd.png

The current volatility implies a range of targets to the downside between $7300 and $7950 provided we have a daily close below $8566. On the other hand, a daily close above $8765 implies a continuation to try and test $10K.
https://www.mql5.com/en/charts/8482608/btcusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/btcusd-d1-simplefx-ltd-2.png

Very shallow downside targets are implied across all major ALT coins. 

BCH

https://www.mql5.com/en/charts/8484483/bchusd-d1-simplefx-ltd
https://charts.mql5.com/17/883/bchusd-d1-simplefx-ltd.png

DASH

https://www.mql5.com/en/charts/8482628/dashusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/dashusd-d1-simplefx-ltd.png

ETC

https://www.mql5.com/en/charts/8482632/etcusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/etcusd-d1-simplefx-ltd.png

ETH

https://www.mql5.com/en/charts/8482634/ethusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/ethusd-d1-simplefx-ltd.png

LTC

https://www.mql5.com/en/charts/8482637/ltcusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/ltcusd-d1-simplefx-ltd.png

XRP

https://www.mql5.com/en/charts/8482640/xrpusd-d1-simplefx-ltd
https://charts.mql5.com/17/879/xrpusd-d1-simplefx-ltd.png
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