Hi guys. i have ben bullish around BTC lately. it is because i believe we are at the end of the road, the bearish market. i will brief you abut btc, some alt coins that look good, and some of my thoughts about the market.
so here we see btc, consolidating around 6450~6650 area(bitfinex). it is still a bull flag yet. however, short term uptrend that can happen is only until 26th october, that means friday. we need to break above 6650(bitfinex), 6500(bitmex). or, we will be caught
at the bearish daily ichimoku cloud.
as you see in the chart, we have thick ichimoku daily cloud on 27th, so, if we stay at this price from saturday, most likely it will again move down. that means, we could sell some btc long positions, alt positions, if thats the case.
if we do not surpass the resistance level tomorrow, btc will probably fall down to 62/63 area. which, it will try again to surpass 6500 levels. if that does not work, you can see the below supports and possible bounce areas. this is typical, you guys know this chart already now. problem is, what are the possibility? i believe 20% chance we breakout friday, 30% chance we break out from 62/63 area. and 50% chance we breakout below levels.
reason is because, we do not have proper volume, market cap for this big move just yet. i believe we need to hit the level of buyers , real big buyers at some level that they want. that level can be 62/63 area, but it can be lower. maybe level now is a good level too but if it does not make above, that means buyers want lower.
anyway, i think given the time, until november it is, that we wouldn't fall so much down. maybe, market can just consoliate, move sideways at this area, or little lower for long, without dropping hard. maybe, market wants to do that, not to fall to low to the bearish zone. maybe sideway can go lot longer. but i believe at some point, we will explode and go up.
so short term, btc in coming days and hours would show this move i think.
now, from the alt coin market, i see pumping is incoming. i am going over so many alt charts now, but coins are slowly breaking out from their downtrend channels. from this i believe bear market is slowly finishing its phase. Ripple did that, Stellar lumen did that, i see STORM did that today. EOS, Bitcoin cash and some alts have that chance in the coming days now. i also see cheap alt coins pump hard, and i believe it is the very very slow start, signal of what would happen next.
i am calling for alt coin buys now, and i have been commenting it. let me show you some more that looks good.
1. blocktix
check coins like blocktix. i bought some of this at 0.20 dollars. may coins start to reverse from their bottoms now.
2.siacoin
look at siacoin. like blocktix, siacoin is making now an uptrend channel. i bought these too. very promising, i believe this will pump hard. so take a look at this. i am going to hold this coin. i think 0.03~0.06 dollar can come for this.
3.EOS
look at EOS. so many major coins have the same structure like this. storm had the same structure, it broke out.EOS might not breakout, but i bought some. if it doesn't break above, i can stoploss fast.
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however, not all coins are looking so good. below is eth.
like ETH, it is still in its downtrend channel. i cannot really tell where this coin would go to. hard to tell. it is bearish, and ETH dominance is shrinking.
just look at cardano below. i was disappointed at this coin. it almost broke above the downtrend channel, but it fell down now(yellow box). kind of consolidation bottom of the triangle.
you need to know two things now.
first, not all alt coins will be bullish. some are good, some are not promising as before. you need to pick a good coin. second, btc can fall down below level. proper buying needs to happen. do not all in.
now is time to accumulate that is right. but we have time now. do not FOMO at alt coin runs, you need to look for oversold and good bull divergence. then we win always.
so that is about it. i will brief you guys BTC and altcoins from now. i used to trade more BTC long/short positions, but i now am changing my portfolio to alt coin buys in exchanges. now is the opportunity.
so here we see btc, consolidating around 6450~6650 area(bitfinex). it is still a bull flag yet. however, short term uptrend that can happen is only until 26th october, that means friday. we need to break above 6650(bitfinex), 6500(bitmex). or, we will be caught
at the bearish daily ichimoku cloud.
as you see in the chart, we have thick ichimoku daily cloud on 27th, so, if we stay at this price from saturday, most likely it will again move down. that means, we could sell some btc long positions, alt positions, if thats the case.
if we do not surpass the resistance level tomorrow, btc will probably fall down to 62/63 area. which, it will try again to surpass 6500 levels. if that does not work, you can see the below supports and possible bounce areas. this is typical, you guys know this chart already now. problem is, what are the possibility? i believe 20% chance we breakout friday, 30% chance we break out from 62/63 area. and 50% chance we breakout below levels.
reason is because, we do not have proper volume, market cap for this big move just yet. i believe we need to hit the level of buyers , real big buyers at some level that they want. that level can be 62/63 area, but it can be lower. maybe level now is a good level too but if it does not make above, that means buyers want lower.
anyway, i think given the time, until november it is, that we wouldn't fall so much down. maybe, market can just consoliate, move sideways at this area, or little lower for long, without dropping hard. maybe, market wants to do that, not to fall to low to the bearish zone. maybe sideway can go lot longer. but i believe at some point, we will explode and go up.
so short term, btc in coming days and hours would show this move i think.
now, from the alt coin market, i see pumping is incoming. i am going over so many alt charts now, but coins are slowly breaking out from their downtrend channels. from this i believe bear market is slowly finishing its phase. Ripple did that, Stellar lumen did that, i see STORM did that today. EOS, Bitcoin cash and some alts have that chance in the coming days now. i also see cheap alt coins pump hard, and i believe it is the very very slow start, signal of what would happen next.
i am calling for alt coin buys now, and i have been commenting it. let me show you some more that looks good.
1. blocktix
check coins like blocktix. i bought some of this at 0.20 dollars. may coins start to reverse from their bottoms now.
2.siacoin
3.EOS
'
however, not all coins are looking so good. below is eth.
just look at cardano below. i was disappointed at this coin. it almost broke above the downtrend channel, but it fell down now(yellow box). kind of consolidation bottom of the triangle.
you need to know two things now.
first, not all alt coins will be bullish. some are good, some are not promising as before. you need to pick a good coin. second, btc can fall down below level. proper buying needs to happen. do not all in.
now is time to accumulate that is right. but we have time now. do not FOMO at alt coin runs, you need to look for oversold and good bull divergence. then we win always.
so that is about it. i will brief you guys BTC and altcoins from now. i used to trade more BTC long/short positions, but i now am changing my portfolio to alt coin buys in exchanges. now is the opportunity.
Comment:
ripple now looks good. chance to break upwards, can scalp this i think.