As this year has proven once again, tangible and intangible assets with low or no stock market correlation gain traction during uncertain times.
After soaring to another absolute maximum early Sunday morning, Bitcoin is still on the rise, following some white noise fluctuations. Since an approximate 41% drop on March 14, (around the time the lockdown was beginning), BTC.X saw a steady rise throughout 2020, with a 43% surge from December 12 through yesterday, December 28. Tickeron’s outlook, as of today, is fairly positive, with four technical indicators, one fundamental analysis rating, and our A.I. predicting a short-term bullish trend with an average likelihood of 52%. Notably, the A.I. Trend Prediction — Tickeron’s backtested algo basing its predictions on previous outcomes of similar price fluctuations — confidently says an uptrend is predicted with a 84% chance. However, four indicators and ratings point to a downward trend with 33% odds, in addition to the Stochastic and RSI indicators, which both have BTC.X as overbought, so the trader is advised to be cautiously optimistic. A good way to gauge general sentiment is to visit Community Trend Predictions under the Academy / Community tab to see what other Tickeron users, including experts, think will happen in the next week or month.
Ethereum, after a reversal to its pre-January levels in the middle of March, has been hiking upward, with notable zeal, especially starting December 24. Tickeron has a strong buy on ETH.X, with six technical indicators assuredly promising smooth sailing with an average 67% likelihood. Furthermore, all of the Tickeron signals since July (the earliest available), had an uptrend for ETH.X. According to the 1-year graph, all the signals were proven correct. However, small fluctuations may be in store, according to RSI and Stochastic indicators.
After a 51% crash following an inconvenient dispute with the SEC about treating XRP as a security and holding unregistered sales, XRP Ripple has returned to its pre-November-spike status of trading below $0.3. However, despite the collapse on Dec 26, Tickeron has XRP at a 50% likelihood for an uptrend, as the RSI indicator moves into the oversold zone. Our Pattern Search Engine has the ticker at a 50% probability to follow a Cup-and-Handle pattern, emerged on December 21. However, we’ve yet to see a breakout. With a 170% distance to target price, it’s not looking likely, but a good bet if XRP finds a way to save face.
The coming week spells uncertainty for Tezos as the price oscillates around the $2 mark, dropping to $1.8 and reaching $2.2 within the course of five days. Six of our indicators point toward a downtrend while four are confident about an uptrend, both of these values averaging around 60%. Having dropped below its 50-day average on Dec 21, the price is anticipated to fall further. This is supported by the Broadening Bottom pattern, which emerged on December 23 and points to a downtrend. and However, our AI Trend Predictions shows a bullish tendency based on 97 previous situations with similar confidence levels to the ones Tezos is currently experiencing, with a 67% likelihood. This is supported by the RSI indicator, confirming that the coin has left the oversold zone and is trending upward.