If you choose to buy here, great caution is advised. Dip your toes in slowly (dollar cost average in) and have your stops just below the ascending BLACK trendline. I'm extremely cautious here and reluctant to buy until we have more signs corroborating this move up.
On the descending line are the prices that were barrier and stop for the BTC to follow its bull run, which perfectly match the Fib levels. And the possible ones that remain or the king is already able to continue his longed up way up? We will see. 1st TARGET REACHED ------------USD 3824.88 (FIBO LEV 0.382) STRONGEST RESISTANCE LEVELS USD...
It's days like today I find that I am having to remind people what to overall long term trend looks like. Bitcoin is still bullish as it remains in my BLACK BULL CHANNEL. This BULL CHANNEL is nothing to sneeze at. It has remained intact since early May. You'll remember that it broke below this preceding the last fork. Only when we dipped below the bottom of my...
First I do not believe in my humble opinion that the Elliots waves works on cryptos.They are very complex to locate and synchronize. The margin of error is zero. On the chart we see that after reaching the historical ATH, the price broke the main trend line (TL1) and tried to retest the ATH and found its Stop on the HH1. I formed a new trend line (TL2) joining the...
If you've followed my post, you'll realize that I've recently stopped out of Litecoin. Currently, my Litecoin deposits are sitting all in CASH. Here's what I'm waiting for. Just like it's big brother Bitcoin, Litecoin has a long upward bull channel (BLACK LINE). Ninety percent of the time we will remain within this bull channel. Currently, that's exactly where we...
After an absolutely explosive and insane move from $50 to nearly $100 in only (6) six days, Litecoin put in another (5) five days of consolidation. Initially, I had hoped it would drop to $57.75 or even our $50 support. But now I am not sure this will be the case. Litecoin continues to look bullish. And just like my Bitcoin chart, it appears that Litecoin has...
Those that follow me know that overall I'm long on Litecoin. However, my charts are telling me to sell here. Reasons: - We are at the top of our bull channel - RSI indicates we are highly overbought - Top of Bollinger - LTCBTC chart shows overhead resistance of 50MA on the daily - Everything follows our lead dog Bitcoin, which has nearly reached a long term...
I want to show you something. I'm not saying this will happen but... Take a look at this chart. It is beautiful. And according to what it is telling me, we have two (possibly three) more days MAX (but probably less) of consolidation for OmiseGo. Once complete, we would break out and above our shorter downward sloping ORANGE trendline. Of course, the possibility...
DOGE has broken a down trend with impressive volume, if it holds new highs I expect it to climb and touch the first resistance.
In my last post, I posed the idea that we were forming a new larger triangle. I expected that we'd bounce around a bit between our $50 support level and the top of this new triangle before building up enough energy to break through our previous all time high. This we did! And to my surprise this price action occurred even sooner than anticipated! We are now well...
We've officially broken out of our last ascending triangle. I see no more coiling ahead for a while. It's onward, upward to our $75+ target. Good luck and happy trading all!
ETHUSD Update: 315 resistance breaks and subdegreee Wave 3 is in play just as I wrote about in my previous report. For those of you who go long in the 280s and 90s, 345 is my first target and 374 is my second target. Clearly a bullish catalyst has sparked the rally, at this point I do not even know what the catalyst is, I can just tell by the vertical nature of...
This is a follow up in response to a comment from a viewer, I've added on a few possible targets that you could use to manage this trade. I recommend that you split up the body of your holdings into different trade ideas with different expectations and time targets, so this is why I have given a range of possibilities. Having 3 separate positions in 1 position...
Litecoin failed to hold our lines (see last post on Litecoin). We have one more critical support at $42. We break that and I am out and bearish on Litecoin again. Good luck Litecoin longs!
Looks like Bitcoin has decided to consolidate. Here are the two levels I am hoping we drop down to. The bottom two ($3410 and $3263) represent an excellent buying opportunity if we can get there.
As expected, our trendline held. We bounced: Trendline continues to hold support. A good sign. Bullish pendant pattern forming. Also bullish. Here's what I expect from Bitcoin according to our charts: 1) Break $2980 before Aug 1 and then come back down and bounce off it and up after. 2) Bounce around in here for a few more days before breaking up and...
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....