BTC: may face more selling pressure
Consolidation continues for BTC and the average true range has dropped to less than $100. The period line for the average true range is 14. This tells us that another major move is about to happen because the price is consolidating and the ATR is close enough to its bottom. The moving averages are telling us that the odds are stacked in favour of a downward move and the BOP confirms that argument.
ETH: divergence in play, upward move may take place
The price is trading in a channel format- to some extent. While the price is firmly below the 100 and 200-day moving average, the RSI needs attention. The relative strength index is, an oscillator is giving an oversold reading. There is also a divergence between the price and the RSI. This confirms that we may see the price moving higher and test the strength of the moving averages.
