Bitcoin is dumping toward 10K in large volume sell off!
All of a sudden amid no real fundamental news BTC/USD sold off USD 200 to drop below 10K.
1.27 million contracts where traded as the short trade gathered momentum.
ETC/USD technical analysis: Price could be gearing up for a move higher
There has been some quick buying pressure moving through cryptos at the moment. BTC/LTC and most of the majors moved higher as some volume kicked in.
Having a look at ETC/USD on the 1-hour chart 6.50 seems to be a support level where bulls are keeping the price up.
We have had two tests recently and both times the upside was capped at 6.75 or thereabouts.
Right now the price is consolidating around 6.60 but if the bulls want to take control 6.75 must be taken out.
Beyond that, the next intraday resistance stands at 7.23, the previous wave high.
LTC/USD technical analysis: Price is halted by a resistance level but is still positive for the session
LTC/USD had a move higher but the progress was stopped by an intraday trendline.
Now it looks like the price is heading to support level near the 70 mark, with the next one at 70.53.
Interestingly the RSI is giving a slightly different signal. It looks like a failure swing or hidden divergence is setting up for a move higher.
This is when the price makes a higher low but the indicator breaks lower into an oversold position.