Good Morning folks,
Background: I'm a graduate from Purdue University. I've been trading and investing in the equity markets since 2007/2008. I traded out of my Dad's account when I was younger and lost him a bunch of money. After this, I wanted to help get his money back + learn how to trade by myself. After losing money myself, learning lessons, reading tons of books, watching thousands of hours of charting, videos, CNBC, understanding market psychology, I finally am capable of providing sound and unbiased analysis. I learn and make mistakes everyday like most folks, except that I don't lose money anymore- at least not as often as most. The crypto space to me was very fascinating as I learned Cryptography in college and Bitcoin in 2012. I started trading BTC and crypto in late 2016. And I'm still here :) The volatility and the potential ceiling of a nascent industry really intrigues me so I trade it and I do my best to help others understand how to trade assets.
Rule #1: Don't trade off emotions,
Rule #2: Don't marry any project fundamentals just yet
Analysis:
We've got a healthy break of $3900 few hours ago. I've mentioned in my previous analysis why I believed that a healthy retrace was necessary and that the higher time frames + price action was on the bulls' side to keep moving up. I've provided plenty of trades for free to TV and my community. Please read updates below and hope you enjoy my analysis.
Next steps:
-Break psychological resistance at $4000
-Test supply at $4100; if rejected, close no lower than $3910 and test prev. resistance as support and test $4100 again
-If $4100 is broken test the massive supply at $4400-4500. This is where a lot of sellers are sitting, in my opinion.
Hope you enjoy my analysis.
***Message me on TradingView if you want to learn technical analysis, how I trade, and how I do my analysis. I'm always free to chat and help.
-Amol
Background: I'm a graduate from Purdue University. I've been trading and investing in the equity markets since 2007/2008. I traded out of my Dad's account when I was younger and lost him a bunch of money. After this, I wanted to help get his money back + learn how to trade by myself. After losing money myself, learning lessons, reading tons of books, watching thousands of hours of charting, videos, CNBC, understanding market psychology, I finally am capable of providing sound and unbiased analysis. I learn and make mistakes everyday like most folks, except that I don't lose money anymore- at least not as often as most. The crypto space to me was very fascinating as I learned Cryptography in college and Bitcoin in 2012. I started trading BTC and crypto in late 2016. And I'm still here :) The volatility and the potential ceiling of a nascent industry really intrigues me so I trade it and I do my best to help others understand how to trade assets.
Rule #1: Don't trade off emotions,
Rule #2: Don't marry any project fundamentals just yet
Analysis:
We've got a healthy break of $3900 few hours ago. I've mentioned in my previous analysis why I believed that a healthy retrace was necessary and that the higher time frames + price action was on the bulls' side to keep moving up. I've provided plenty of trades for free to TV and my community. Please read updates below and hope you enjoy my analysis.
Next steps:
-Break psychological resistance at $4000
-Test supply at $4100; if rejected, close no lower than $3910 and test prev. resistance as support and test $4100 again
-If $4100 is broken test the massive supply at $4400-4500. This is where a lot of sellers are sitting, in my opinion.
Hope you enjoy my analysis.
***Message me on TradingView if you want to learn technical analysis, how I trade, and how I do my analysis. I'm always free to chat and help.
-Amol
Comment:
Update on all the trades we're in.
For TV: Keep your eye on NEBL and LTC
:)
For TV: Keep your eye on NEBL and LTC
:)
Comment:
Here's the map of the order blocks in place and the current OB we are working through. The height of this OB puts us at $4700 as per finex prices. Which could also be the high of this current bullish impulse.
Comment:
Here's the EW 5 wave structure map. Currently in wave 3 which could take us fully to $4800 if the 1.618 extension rule of the third wave were held true.
Comment:
Pay attention to BAT/USDC- like I said, ascending triangle will break soon. It's happening :)
Comment:
Keep an eye on DLT:
DLT/BTC bounced off really nicely off 618 fib. We now need to wait to see if price can get past the 50fib which also matches up approximately around previous support around 2900. This also lines up with the first Pivot as you can see. Point is, a lot of resistance is heading DLT's way right around this 2700/2800 area. I'd say it's safest to wait above 2900 and not buy resistance right now. Simple rule to remember: Buy support and sell resistance. Once 2900 is broken i'd say the next target could easily be 3600 which matches up with R1. Also the the 20/40EMA have made some nice bullish crosses so most signs are pointing for DLT to break resistance, especially if BTC plays along well. Enjoy!
DLT/BTC bounced off really nicely off 618 fib. We now need to wait to see if price can get past the 50fib which also matches up approximately around previous support around 2900. This also lines up with the first Pivot as you can see. Point is, a lot of resistance is heading DLT's way right around this 2700/2800 area. I'd say it's safest to wait above 2900 and not buy resistance right now. Simple rule to remember: Buy support and sell resistance. Once 2900 is broken i'd say the next target could easily be 3600 which matches up with R1. Also the the 20/40EMA have made some nice bullish crosses so most signs are pointing for DLT to break resistance, especially if BTC plays along well. Enjoy!
Comment:
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Position breakdown: BAT 22.5%, LTC 10% (increased), LOOM 5%, ELF 5%, NEBL 12.5% (increased), AION 5%, WAN 5%, ETH 5% Cash 30%
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Position breakdown: BAT 22.5%, LTC 10% (increased), LOOM 5%, ELF 5%, NEBL 12.5% (increased), AION 5%, WAN 5%, ETH 5% Cash 30%
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Comment:
Up 23% in our community on NEBL!!
Comment:
**Position breakdown: BAT 22.5%, LTC 10% (increased), LOOM 5%, ELF 5%, NEBL 12.5% (increased), AION 5%, WAN 5%, ETH 5% Cash 30%**
Trade update(s):
NEBL +23.8%
WAN -8.1%
LTC +29.1%
AION +4.95%
ETH +3.1%
LOOM +13.89%
BAT +12.3%
Trade update(s):
NEBL +23.8%
WAN -8.1%
LTC +29.1%
AION +4.95%
ETH +3.1%
LOOM +13.89%
BAT +12.3%
Comment:
Random analysis. On any given day I go through my crypto scanners and check the handful of projects that I'm interested in, I now see this sort of movement for ZRX. It's broken some critical supports and one of the last supports is now listed at the horizontal red line. I would not be interested in ZRX until the red zone is a confirmed break.
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As you can see we are in a nice ascending channel. My guess is BTC will have a huge candle spike at some point and head to the top of the channel and also hit $4200-4400 resistance. More than likely it'll get rejected hard.