COIN ROTATION is like a WAVE:
The waves of funds continue to rotate from one coin to another.
First BTC shot to almost 8000 USD over the last weeks,then crashed
funds flowed into BCH, which rose 300% in a few days,
next, altcoins like DASH saw inflows and 50%+ climbs
ETH STILL SIMMERING:
But ETH sill hasn't seen it's break out moment. In fact, this consolidation...
BTC shot to 8000 USD,
then BCH rose 300% in a few days,
now the rotation has funds flowing into DASH.
Hopefully, like me, you've been watching the pattern build and the pressure mount over the last few months.
We had a great bull run up July to September and since then we've declined in a very orderly way.
Orderly pullback = healthy behavior. When something...
Interesting developments today. We crashed up fast to 7400, and now we see a huge red candle on the 60 minute chart, crashing back down below that 7000 level.
If we can hold this 7000 level, then I think we'll see higher prices to 8200, the next Fib level based on the September Bitcoin crash.
If we break down below 7000, level then we might...
I love this chart of TSLA. We broke out of a huge consolidation range between 2013 - 2017, between basically 180 and 300$.
After that break out, we rocketed to 400$.
Now we're pulling back. This has formed a new range with clear support and resistance levels. That's what we love.
Support (former resistance of old range) - around 300
New Resistance (all time...
Does this chart look familiar?
A lot of alt coins are putting in this pattern and if you read my post on NEO, then you'll see the theme.
Alt-coins are consolidating in a big way. Big consolidation = Big break out DOWN or UP.
My bias is up because we still don't really see any classic signs of weakness seeping into the charts. That means, even if we do get...
I just like the craziness of these altcoin patterns.
On this NEO, we have a consolidation range between 9 and 60 !! This is something never before seen in history. Incredible these ranges.
Well, it looks like we need to see a breakout in Neo in the coming weeks as these trend lines connecting the highs and lows are converging to a head.
My bet would be a drop...
On October 21, Bitcoin capped out at 6200. We pulled back 600 points to 5400, and shot right back up to the 6000 level, your typical V-reversal pattern in these cryptos - gotta love'em.
Now we have crashed up to that 6200 level once more, after breaking the consolidation range from the last week, and the question is -- DO WE BREAK OUT NOW OR LATER? It's not a...
THE PRICE PATTERN:
We see a nice, classic DOUBLE BOTTOM reversal pattern in Bitcoin Cash against the
USD as well as BItcoin itself. We bounced off of the 300 hundred level convincingly,
and now if price can break the 400 level, which represents trend line resistance from the
August highs, as well as the "neckline" breakout level to confirm the double...
We had a failed breakout in Ripple above that descending trend line around .26. Unfortunately, we were unable to hold that level and now we've fallen back down to .21 and we are back in the consolidation range between .18 and .25
Healthy consolidation range continues after big run in April/May
200 day moving average is sloping upwards - overall...
Great classic breakout in MONERO here. after consolidating for a couple months.
A lot of charts breaking out now that Bitcoin momentum fever has taken hold.
Long above 92 (breakout candle)
Target old highs at 150
STOP under 86, bottom of pattern
Incredible "flash crash" in CLAMS today, losing 66% of its value in a couple hours.
A great example of why position sizing is the most important trading factor. The technical pattern here was great. I mentioned this in my video. It was holding a breakout and consolidating, then all of a sudden a total crash. Maybe it recovers, but if you put too much of your...
Give or take a few bucks, 5000 is the level we need to break if we want to see a meaningful breakout to the upside.
To be clear, I think this is inevitable and we will break, but will that be TOMORROW or IN TWO MONTHS?
I think this consolidation pattern will give us our first strong clue.
We made an attack at 5000 in the last 24 hours and we were rejected. No...
Check out Bitcoin in Korean Won. It has already broken through those all time highs.
Unless this breakout fails and it crashes back through support, that is a very bullish sign for Bitcoin in USD.
Korea is always ahead of the USD market in Europe and the States, so this is certainly a strong tailwind that adds further momentum to our thesis that Bitcoin will...
If CLAM can hold this 10.00 level and this rising trend line above the consolidation range from May, then we should see prices at 12 and then 16 soon.
A pretty classic play, where price breaks out above a consolidation range, then consolidates for a few days before making a run. This base was quite big, forming since May, so if we don't fail here, we should see...
Ripple XRP has been consolidating since May and it's approaching the convergence of it's consolidation range.
It really looks antsy to break out here and I'm loving this chart.
The 200 day moving average is coming up to meet the price. That means the overall trend is finally meeting the price and that is usually a recipe for a bounce. We've been monitoring this...
I really like this action guys.
We are still in the big consolidation range between 3000 and 5000 but we've overcome some significant levels in the last couple of days, passing through 4000 and now 4500. I don't see any resistance until we reach those all time highs at 5000.
We could very easily hit 5000 this week.
5000, THEN WHAT??
That's the 5 million dollar...
Nice Day trade on the Bitcoin 30 minute chart here.
This 4500 level looks critical. WE had a nice run from 4340 to 4460, a healthy consolidation flag and now we are attacking that 4500 level.
If we can breakout above 4480, then I think we will see a continuation to the upside.
Long above 4480 for an attack on the 4500 level
Target 1: .618 Fib retracement at...
If you've been following my posts (and you should!), then you'll notice that I've kept pounding the table on this PIVX. I really think we are going to see a climb in PIVX to around 5-5.50 soon enough.
SIGNS OF STRENGTH:
PIVXUSD didn't crash like many other altcoins in August, rather it has held up near its highs around 3.50-4.00, and held an important support...