Premium Binance Futures Technical Analysis Series One
By Rubika Ventures on The Capital
We recognize that we had not written in a long time. So today, we treat you with a huge surprise. Thanks to the implementation of Cornix for Binance Futures within the signal service, we have been able to apply our investment portfolio for diversification when making operations within the futures market.
That is why we have also expanded the number of assets to be analyzed within our “Rubikav® Premium🔅Insider” service on Telegram, where we are sending all these market studies, with the aim of giving a clear vision of the real situation of the asset in question.
For this occasion, we bring you in technical analysis of the first ten cryptocurrencies that are listed in Binance Futures.
We have updated the Elliot waves in our study for Bitcoin on the daily chart, and this shows us that we are on an impulse wave 5. Currently, Bitcoin broke the EMA50 at the point of $7175.25 and above the resistance created by the Ichimoku cloud.
But we will tell you the truth, we are waiting for the break of the EMA700 at the exact point of $7310.35 to find a safe area for a long position. Anyway, we are seeing that this zone can be between $7455.15 and $7598.52, with stop loss at $7172.43.
We are also waiting for the daily and weekly closure to make an excellent decision.
Ethereum Breaking Barriers
We have updated our Ethereum study regarding supports, resistances, Elliot waves, Fibonacci, Gann, low trend lines, and high trend lines on the daily chart, and we have noticed several details.
In the long term, we are actually below 71% of the Fibonacci retraction line, but in the short term, we are above and exactly at the point $143.17. The latter represents a primary support within the daily chart, and as a second support, we have the action price of $152.76, which we had already said in a previous study.
We are touching a projected downtrend line at market failure points at $246.0.6; $274.90; $280.45; and $286.68; and with the current price of approximately $182.49.
With Elliot’s wave correction we can understand that Ethereum could be creating an impulse wave (5), but for us, Ethereum will only be completely bullish after breaking the support made by the Ichimoku cloud cluster at the exact point of the $190.86 and where we would really be opening a long to obtain optimal results.
According to the above, the promising region for accumulation of longs positions would be between $190.86 and $205.89. But failure to break the EMA300 and at the exact point of $185.06 could create a correction (ABC). If that no break did not happen, we would then be opening a short position between $190.86 and $185.06. For now, we see that the price broke from the EMA200 at $177.22.
Next major downtrend line is at $256.93 along with 38% of the Fibonacci retraction line. Personally, we are waiting for the closing of the market on intraday and weekly to be able to make an excellent decision and know the next movements.
Bitcoin Cash Starting The Run
We have also updated the Elliot waves for Bitcoin Cash on the daily chart. With that, we were surprised that Impulse Wave 5 is starting, and the price right now is testing 61% of the Fibonacci retraction line at exactly $242.59. Important support: crossover of the EMA9 with the EMA21, indicating buying action.
We are really very positive with this asset for the next few days.
Ripple Very Still
Market convergence is being more visible. Ripple does not escape this. Having done an Elliot Wave update on the daily chart, we can clearly see that Impulse Wave 5 is starting, after the price reversal at the point of $0.1010.
The price is currently above the EMA50 at the exact price of $0.19445, indicating a good position to open a long position. However, for us, a safe zone is from $0.21 and 0.2143 with stop loss at $0.1845. MACD and RSI indicate neutrality.
EOS Wanting To Fly
EOS is currently at the resistance created by the EMA50 at the point of $2,655. We have also corrected Elliot waves and for now, we can see the start of wave 5. ABC correction is not ruled out.
Support to consider: $2,518; and next resistance: EMA100 at $2,968, where we consider a good safe entry point to open a long trade with high return potential.
Litecoin No Volume
Litecoin has really been one of the market assets that has suffered the most in relation to supply and demand after the halving event. Right now, and on the daily chart, you are testing the support created by EMA9 and EMA21 at $42.11.
With the analysis of the Elliot waves, we can see that Litecoin is correlated in the same pattern, with the last wave being an impulse wave (5) that, in our opinion, is only beginning.
Being below 71% of the short term Fibonacci retraction line still represents a greater risk area to consider this asset as a good long term investment. We will consider a long position when breaking the EMA50 at the exact point of $45.34. Next important support: $39.22.
Tron Wanting To Be Lightning Again
Tron in the last negotiations tried to break the EMA50 at the exact point of $0.01342. Failure to break out of this resistance caused the price to recede and is now attempting to break the EMA9 at the $0.0129 support.
In relation to space time, it is below 71% of the Fibonacci retraction line for the short term, indicating a greater risk in relation to a reliable investment. However, we can also see that, and by studying Elliot’s latest waves, it is creating an impulsive wave correlated with the other assets on the market.
We recognize that Tron is one of the assets that generate the most controversy in the market, and that is evident in the low volume that it is currently presenting. Other indicators show price correction.
We will consider a long position above the EMA50 and at the point that we had said.
Ethereum Classic Near The Supports
Ethereum Classic is currently resistant to 71% of the Fibonacci retraction line with $5.5494, within the beginning of what would be an Elliot impulse wave (5) and below the EMA21 and EMA9, it would indicate a strong accumulation of purchases in this area. However, we will consider a long position after the EMA50 break at $5.8787.
A brief price correction in the coming days is not ruled out.
Chainlink (Link) is one of the favorite protocols on the market and the one that has been most successful. The community simply continues to grow, and the adoption of its philosophy continues to expand. Technically with the price at $3.6546, approximately we see that it is overbought, trying to stay at 38% of the Fibonacci retraction line.
According to the latest news, it was one of the assets that recovered the most quickly after the fall of most markets. For us, its expansive Elliot wave (5) is ending and very soon, we will see the correction where we will take advantage.
For now, we see that the maximum projection of that wave can reach very close to 24% of the Fibonacci retraction line at the exact point of $4.2386, in the event that the market remains optimistic.
Stellar Lumens Survivor
Stellar Lumens is one of the cryptocurrencies that we list as favorites. The project is truly amazing. Let’s say it is the improved version of Ripple. But, technically, it has been one of the cryptocurrencies that have been most devalued in the market since 2017.
At this exact moment, it is supported by the EMA50 at the exact point of $0.049426 and trying to break 61% of the Fibonacci retraction line for the short term. In the long term, Stellar is below 71% of the Fibonacci retraction line, indicating an increased risk for considering this asset in the long term.
From Elliot’s perspective, the latest moves created an ABCDE wave pattern and now falls within the 12345 forward wave pattern. We believe that the wave being created right now is wave 3, which is the market case. optimistic could be breaking the next resistance created by EMA100 at $0.05204, where it would be a good entry to open a long position.
The Opinion That Everyone Wants To Hear
By creating these studies, we can conclude that the market is in a good moment, and it is time to position itself well before the halving of Bitcoin.
Rubikav®’s team is already preparing all the engines. So remember that all these market studies can be received firsthand on Telegram taking advantage of our opportunity this month. You will receive all the benefits of being a premium lifetime subscriber for only 0.075 BTC. Ask us now and take advantage.
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