25/4/23. Tuesday morning Cryptocurrencies.
Four cryptos are covered in this report. BTC, ETH, ADA, MATIC. All four are currently on sell signals. Wait-and-see.
BTC/USD,
BTC/USD remains on "sell" signals.
This crypto is in wait-and-see mode: a couple of doji candle-sticks indicate indecision as it consolidates at the 50-Day MA.
CCI has flattened out and DZ Stochastic has also flattened out and close to moving above its lower Zone line.
Money Flow is down almost to 20 - an oversold zone.
A break below the 50-Day MA would see further movement to the downside. Buyers should look for a bounce off the 50-Day MA.
ETH/USD
Similar to BTC, ETH/USD is on sell signals.
The chart shows two doji candle-sticks in a row - indecision and the chart is sitting just above its 50-DMA.
A break below the 50-Day MA = more selling.
A bounce off the 50-DMA - probably a buy. Wait-and-see.
ADA/USD
ADA/USD has a similar profile to BTC/USD, but, perhaps, a little stronger than BTC. It remains on sell signals.
This crypto is sitting a little above its 50-Day MA, so the same comments for BTC apply to ADA. Bounce - and it is probably a buy. Fall through 50DMA - probably more selling.
MATIC/USD.
Matic/USD is a little weaker than either BTC or ADA having fallen through its 50-DMA.
Leading indicators suggest, however, that the break below the 50-DMA could be a false break.
CCI is showing a clear positive divergence and minor positive divergences on RSI and DZ-Stoch.
Wait-and-see how this pans out.
