Cryptocurrrency
Does XMR (monero) got enough feul to stay in the channel?Does XMR (monero) got enough feul to stay in the channel?
LTC Bullish ConsolidationLTC and BTC bulls trading off all time high runs.
I traded LTC $63 to mid $66s and have flipped back into BTC and ETH this morning while LTC consolidates.
This staggered run pattern between these 3 bulls is ideal for trading back and forming between them to catch bull momentum, and skip consolidation.
Watching for a pattern to tighten up today and give a clear break this evening.
ETH Tight but BullBulls enjoying the BTC correlation of strength.
In a tight pattern after very healthy consolidation over the last dozen hours.
Support on the hourly established at $382 before this bull move started.
Slow and steady without significant surges so far this morning.
Currently in a BTC and ETH position.
BTC ALL TIME HIGHSCongrats bulls!
Hourly Cup and Handle had the psychology of a rejection, normal healthy consolidation, before a breakout.
Not seeing the big gains like we do for LTC all time highs, but the bulls will take slow and steady.
$4700 psychological resistance, with a consolidation low of $4665 and the nearest support.
LTC 4 hour Higher LowsBulls remain in full control as long as this pattern keeps up. Current support is $62 and the bulls are trying to confirm the bullish reversal hammer.
Scouting the 15 min lower high pattern for a higher low, higher high and bullish signal for entry.
Multiple daily inside bars to be watching for a break.
ETH Consolidation and CautionNo red flags for bulls on consolidation at this point, still healthy after a very extended 4 hour chart, and RSI to go with it.
This potential bearish pattern will see clear confirmation if we break $368 support.
Multiple consolidations have bounced off this point, so bulls remain in control as long as it holds.
BTC Consolidation Healthy consolidation after the breakout yesterday. Recent breakouts have not been multi-day runaway events like we saw with LTC.
Multiple tops has signaled consolidation at all time highs the last two times for BTC.
Looking for a bullish reversal candle on the 4 hour to indicate a new higher low is likely established.
NEO News DumpOversold dump giving patient bulls an opportunity for an oversold bounce.
4 hourly oversold RSI combined with every smaller time frame, was a by opportunity with other clues like volume climaxes and hold of support.
I personally would just be looking to capitalize on this profit in the short term for an quick flip and then step back and watch the likely equilibrium tightening pattern form.
News was China may stop access to ICOs.
LTC still consolidatingThe spotlight has gone to ETH overnight and potentially to BTC if we see an all time high test.
The big 3 are taking turns running which makes it much more beneficial to be a trader and hop around the the name that is running.
Looking for the hourly lower high pattern to break and for a bull MACD cross to follow through as a signal consolidation is done for now.
Our attention will be back on LTC shortly.
BTC Bulls Getting Close to All Time HighsNice bull break from a tight 4 hour pattern this morning.
Watching for ETH profits overnight to move to BTC, which is what I personally did this morning, liking the Risk to Reward better on BTC than ETH in the $360s.
If we cannot break $4400 this morning, all time high will become less likely.
A break of $4350 will lose the higher low pattern on the hourly, which is what dictated my morning entry.
LTC Healthy Overnight ConsolidationPotential bull flag on the 4 hour chart with a bullish hammer being confirmed.
Bulls need to break the hourly lower high to indicate we are heading back to recent resistance at the all time high.
Looking for a 4 hour equilibrium pattern and a lower high compared to the all time high as we continue to consolidate today.
BCH Bears have Momentum, Key SupportBCHUSD is close to a bear break if we lose $610.
We continue to set lower highs, $711, $704 and pull back.
At this point there is no bullish entry unless "bottom fishing" $610 support. With a bear break we will need to wait for a new support zone to be established.
Daily chart has still not confirmed a bullish reversal candle since consolidation started.
BTC BreakoutTrade highlighted in the video: www.youtube.com
Resistance from here is $4272, and not many levels before all time highs.
The bulls are fairly extended on this 2 day bounce so cautious on any entries up here, just looking for short term gains.
Bulls want to hold $4200 to keep the higher low pattern intact.
NEO Key resistance test approachingAfter 6 days of consolidation from all time highs, we are getting the first signs that the bulls are ready to confirm they have established the higher low on the daily chart. We must see a break of $42 to confirm this, but we are seeing our first signs on the hourly with a higher low set and some bullish action following it. If we get a break of $42 we will look for a lower high on the daily compared to the all time high, and an equilibrium pattern to develop. I will be back to highlight this if we get the break!
Bitcoin Cash 12 August 2017 - stand asideApologies for those who love Bitcoin Cash I'm not a big fan of it as it stands today (tomorrow is another day I may love it).
I was asked to comment on Bitcoin Cash so for what it's worth there is a Risk Reward 1:1 trade.
Now for me, this is NOT a trade I want to take, for several reasons:
a) I think BCH is finding its feet and I don't want to tie up my capital while it does
b) there isn't enough data to objectively assess its direction
c) I am not interested in Risk Reward 1: 1 trades - there just isn't enough meat on the bone
Now I may be wrong and it may explode but it can explode without me, thank you very much.
Be discerning look for quality trades not just throw darts at a dartboard. So this is a stand aside trade ie no trade.
Hope this helps,
Sean Vengan
Professional Cryptocurrency Trader and Trading Educator
SegWitWhat? Fear Fizzles and Ethereum Breaks ResistanceSeems like all of the short term fear of SegWit2 disruption is fading which could be very bullish for crypto-currencies. In the short term, Ethereum has broken the resistance line which is bullish but we will need to see future support levels to validate this move.
Let me know your thoughts!
Steve W.
Bitcoin Long term GrowthI have shown Bitcoin all the way back to 2012 on a log plot. On a log plot, a straight line represents exponential growth.
The green line here is a growth rate of 3.8X per year. Notice that this is an extremely strong support line.
Even when looking at the daily and hourly charts, I use this chart to evaluate the position of bitcoin on a long term scale. While we are currently slightly above this line, we are no where near as far as we were in 2013! If this support continues, expect Bitcoin to reach $5000 by July/Aug 2018.
Nobody knows the futureYou can't be confident with your forecasts on 100%.
That’s why we estimate two scenarios at once. You can be either bullish or bearish. On our chart we show how to act in the worst case scenario and how to act in the best case scenario.
For basis we are using BTCUSD chart from GDAX (Coinbase Exchange).
We have used:
1. support and resistance levels
2. figures
3. fibonacci retracement
4. moving averages
1. From my observation historical and psychological levels are always very strong it doesn’t matter if they are support or resistance levels. We decided to take four levels that have core role for the next one-two months:
* $1700
* $2000
* $2700
* $3000
2. Additionally to the price levels we applied figure analysis which includes:
* Head and shoulders - bearish
* Ascending triangle - bullish
3. Another indicator that always proves its dependability is:
* Fibonacci retracement (critical levels are 0.618 and 0.382)
4. And the last one, but not the list is:
* Simple Moving average (14 and 50 periods)
We emphasize again, that nobody knows for sure where the market goes up or down, however you can prepare yourself with asking a simple question “What if” ?
1. What if the price breaks $2700 price level, 0.618 Fibonacci retracement level, MA 50 crosses MA 14 and ascending triangle will continue its forming? If four indicators are bullish the best point of entry will be $2800.
2. What if the price will find resistance level at $2700, break the 0.382 Fibonacci retracement level, “head and shoulders” will continue its forming and MA 50 will be crossed by MA 14? In this case bear position can be more appropriate and the best point of entry will be $2400-2350.
3. The third scenario will be flat, however based on previous fundamental news from Ethereum a lot of investors and traders converted their tokens in Bitcoin which created additional volatility on bitcoin market. Trading inside the channel we will discuss later.
Risk disclosure:
Our analysis neither offers you the solution of how to trade, nor encourages you to trade based on it. We are not offering to take this information for granted. Thus, be careful with your trading decisions.
Do not be greedy, do not be panic - be an intelligent investor!
Sincerely,
Cryptocurrency Fund L.P.
medium.com
