Bitcoin is on a tear! These bulls don't want to rest. There will not be many more chances while we consolidate slightly here to hop on this train for a mad ride up to $4000 plus. However, if we do rest in the next couple days, look to buy at any price between now (currently $3446) down to $3146 and in the next 3-6 days. Consolidation won't last longer than this....
As stated in my last post, the bulls just do not want to rest. Bitcoin is still in the hype driven stage of the gartner hype cycle: www.google.com This makes is hard to get in a good price. While many are claiming Bitcoin has reached target on their charts, or that Bitcoin is due for consolidation (which is true), or that Bitcoin bears should have entered their...
It is definitely harder to predict price patterns on these brand new coins, but Ima give it a try. Here we see Fib from low to high. You'll also see some trendlines that have started to form and support levels I've drawn. So, let's make heads and tails of this. Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First...
The move up happened as anticipated hours after my last post on Litecoin. We recently hit $50 resistance and ran out of steam. You could've sold there if you were watching or had your trade triggers placed. We have and are now consolidating a bit and will continue to follow BTC before pushing higher. Over the next day or two I expect more sideways movement and...
Litecoin remains in our bullish channel. However, it continues to sink lower and lower towards the bottom. We've managed to break below our middle Bollinger Band and our 50 MA. As we near the bottom of our Bollinger range, we are also approaching a $38 support level. Since the $38 support and the bottom Bollinger intersect at this point, if we travel down here in...
I just want to take a quick minute to remind everyone that the previous trendline for which I drew the bottom of our bullish channel (GREEN) still remains significant despite the fact that it was already broken three times (down on the 10th, up on the 20th, and down again on the 25th). That being said, I am not saying that we'll enter back into the channel...
The market decided that they were not comfortable with the price we were at yesterday. If you follow my post, you'll remember how often I talk about the bottom trendline of my GREEN channel. It is significant. Still is. Once we entered back into the channel, I bought BTCUSD again. I updated my trailing stops often to follow the bottom of my GREEN channel...
We currently rest at our $2670 support which intersects with the bottom of our channel. Could we see a weekend bounce to $2980? I think this is a good possibility. We shall soon find out. Happy trading!
Rookie mistake folks. I jumped the gun. In fact, if you read my last few posts, you'll observe that I had this suspicion. I was too impulsive with my Litecoin buy and bought all in at $50. I should have exercised sound discipline as all good traders do and simply started my buy in at this price point. If I would have dollar cost averaged in from there to where we...
A few things I'd like to point out on this messy chart: ----- First, I started my Fib retracement at a different date on this chart. Most, will start at Mar. 25th. That's fine. However, I chose to start mine at $1111 for several reasons: 1) $1111 is around the avg. price point on the daily for the few months leading up to our big pop in price. 2) When starting...
As I stated in my last post, I may have jumped the gun a bit on my Litecoin purchase. I knew this. But because I am a swing trader, I did not want to miss out on opportunity at that $50 level which provided fairly strong support. The next support level I see is even bigger. Why? 3 reasons: 1) I have redrawn my Fib retracement from the lows on 3-30 to the high on...
I see almost everyone going short on Litecoin. I've decided to become the contrarian voice crying in the wilderness yet again. I've just picked up a boat load of Litecoin at $50 even. I expect Litecoin to continue to trend up this month (more analysis on that at a later date). My guess right now is that Litecoin will hit $60-75 by the end of the month. But for now...
Check this out! After breaking through our $2420 support, I became a bit nervous. We only had one more stop before the floor fell completely out and that was at the $2330 area. Fortunately, there was plenty of support to hold us today. We had the bottom of our channel, the 50 day MA, and the bottom of the Bollinger Band all holding us up at the same area. We held...
CHARTDESCRIPTION If the (ETF) AEX will break this level i only prefer to go long if the RSI, MACDI,(Slow) Stochastic and Bollinger Bands will give me a positive signal. I'm on this moment concernd about the level we have reached, because there are many signs that the current stockmarkets are overvalued (for example the new ticker SNAPCHAT wich is to much...
While GBP/USD swiftly bounced from it’s brief foray below $1.20, price has once again been capped by the range that you can clearly see in the daily chart The upper level of the range is definitely acting as resistance and the way it held again back in the first week of February puts Cable in play for shorts. Just keep in mind that it’s a 700 pip range and we’re...
If we look at the figure we are seeing some high correlation between the Forex Gold and Diamond versus the Futures S&P500 and Nasdaq. Prediction: this month Gold, Diamonds, S&P500 are going down Prediction: this year Gold, Diamonds, S&P500 and NASDAQ are going up How is it possible that there is some correlation between them? (my opinion) You mostly find gold and...
Price has been bouncing off the 0.9880 area for the last couple of weeks now. Finally, it has broken through. Also present is some divergence which can be seen using the MACD indicator and also the "rounding" of price. I have entered at the 0.9888 and am looking for a nice move downwards. My stop loss is just above the previous S/R area. If price pushes above...
Looking at the 4hr XAU/USD chart, I saw a nice bearish outside bar (BEOB) right at the longer term descending trend line. We had a small false breakout and a strong close below. To me, this indicates a move lower with the overall trend. I entered on a retrace to around the 50% Fibonacci retrace which is something I don't usually incorporate. I'm hoping we break...