TradingView’s Real-Time Indicators Suggest BTC, ETH and XRP Entering Extremely Divergent Paths
TradingView’s aggregated blend of technical indicators suggests Bitcoin, Ethereum and XRP will not move in lockstep in the near term.
The top social network for traders uses a variety of measures including moving averages, oscillators and pivots to gauge the strength and trajectories of top crypto assets.
At time of publishing, Bitcoin (BTC) has a “buy” rating on the 1-day, 1-week and 1-month timeframes.
In comparison, Ethereum (ETH) is a mixed bag, with a “sell” rating on the 1-day, and a “buy” on the 1-week and 1-month.
XRP fares the worst, labeled a “sell” rating on the 1-day and 1-week, with a “strong sell” on the 1-month timeframe.
Cryptocurrency trader and analyst Josh Rager says Bitcoin is showing signs that it may have hit a short-term ceiling at $9,550. He says BTC will have to move back above $9,550 to resume an upward trend.
“There’s the breakdown and bounce in low $9,000’s. Nice wick, watching for a close back above $9,550 If not, then likely a sign that this was a local top.”
After seeing Bitcoin break below the $9,400 mark in the last 24 hours, analyst Tone Vays says he’s expecting BTC to trend lower.
“Based on the 4-hour chart, what’s the likely area of Bitcoin support? It’s in this vicinity of $8,900. You have a setup trendline and you have the prior area of the breakout.”
Bitcoin is down 4.11% at time of publishing at $9,269 according to CoinMarketCap. Ethereum is down 4.44% at $193.84 and XRP is down 2.89% at $0.1974.