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Here we can see a very nice looking chart - the potential opportunity to buy the 23.6 fib level coming in at ~ $0.60. (limit order buy)
The major structure is outlined in yellow. Notice the 9 count that came in TWICE at that 23.6 fib level (TD Indicator) - a solid confirmation that the fib is still valid.
This level will likely see some initial support respect, ...
Here is EOS at the 23.6% fib level. If BTC can email stable for a few more weeks, Eos could get the tap on the shoulder, and finally break this wedge structure to the upside. TP level 1 would be at the 38.2% fib level, with a stop below $4.85 - representing a 5:1 risk reward ratio for this weekly hold setup. I'm in.
Best of luck, hit the thumbs up.
Here's another beautiful lookig crypto chart - showing monero trying to take on HUGE resistance on the weekly chart, all at the same time. (weekly 20ma + Median of descending channel.)
If id breaks through all at once, this will occur within the next couple weeks, otherwise we can expect the correction to continue, and the next obvious buying opportunity will ...
As the alt market begins to heat up, it is worth taking a good look at Litecoin. Taking trend-line resistance from the weekly closes, LTC is currently battling this indicator, and a solid 2-3 weeks outside this structure could result in a massive re-evaluation back towards $75 levels.
I like a long position entry at $54. TP target $74. SL $47
Potential to earn 20-30% more BTC by owning ETH for this next rally. Not saying it will happen for sure, but if you believe the bulls are about to take this round, ETH may be more attractive place for crypto risk exposure. Alts have been popping off as of late. (XRP, DOGE, BCH... ETH is due.) lets see a rally back to $300 levels.
Best of luck, hit the thumbs up.
Hey guys, hope you are doing well,
these past few weeks of consolidation will soon result in a release of pent up energy, and volatility will come back in as the decision time is finally reached.
The main thing that will drive the next big move it the structure break on the weekly chart - i have drawn a descending wedge to the closes, with the yellow line ...
This is the trade setup for the bull case - 2:1 risk reward.
Things to note - Low vol is a bit concerning, traders are all waiting patiently for the structure break. Also if this 10% upside does happen in BTC, I do believe there will be more lucrative long opportunities in some under-valued alt coins like IOTA, ETH, BCH, LTC.
The TA for XLM is just a thing of beauty. The 20MA on the daily should show strong support now. If we start to see daily closes outside of this wedge (above $0.30) we could see a fast and furious re-evaluation back to the $0.50 psych level.
I think $0.25 will be a solid bid if you can get it. set your alerts, this could get interesting.
Best of luck, hit thumbs up.
If you look closely here, BTC is on the chart in the background, showing that IOTA has the potential to make up some serious ground against BTC, given a healthy bitcoin scenario. It is close to breaking out of a descending wedge, which would easily re-value it back to $1.00. Some big moves popping off in the market (XRP last week, BCH today and many others) ...
EOS is one to watch here for sure - in the next week or so, we will get confirmation of either a break-out to upside fib levels (i.e BTC pushing back towards 7k). Alternatively, BTC could fall through the floor, sending EOS through it's $5.00 floor, and likely to test bottom of descending channel near $2.50. Either way there is huge potential in this trade. my gut ...
Interesting spot for IOTA - I like a long trade set-up here with a 14% downside stop loss, which would be a break of this trend-line, and BTC breaking $6,200 support. Alternatively, an upside break-out towards the point of control on the volume profile indicator, which could yield a ~70% return in a short amount of time. I like the risk reward on this long ...
This descending wedge has to break eventually, and upside break of this trend-line is what the long-term bulls are waiting for. The weekly RSI approaching oversold territory. Also, we are currently trading at the descending wedge support, as well as the bear target on the fibonacci - 1.414% extension level. Also, we are seeing higher volume, which is ...
I have an itchy trigger finger here, ready to back up the truck - below are the reasons why downside is running out of room for litecoin.
1. $50.00 round number psychology level
2. Volume profile - we are deeeeep in the value area now, where 70% of historic trading volume has traded, and currently on the POC (the price where the most ltc has exchanged hands, ...
Here it is guys, LTC vs.BTC - In my opinion, a healthy bitcoin in Q4 = a massive re-evaluation in our good friend Litecoin. still very oversold vs the USD, and an even better bargain vs BTC. See on chart for indicators revealing a screaming buy for LTC, but be sure to keep that risk management in play, because this set-up only works if Bitcoin can hold up above ...
Here is my TA for ZRX - it is in a very interesting spot as we can see. I like the big support we are seeing at the 23.6 fib level and the respect of the higher fib levels in the past. This tells me the market is watching this indicator. A break out could be imminent if BTC can remain healthy - this is a massive decision time, and i spot a trade with a ...
I see a trend line break in the works (breaking the wedge structure) - upside towards the next POC could be a solid trade. In this scenario, BTC makes the move to $ $7,500 - 1/2 normal risk is on.
Descending Channel Showing Solid Supoprt bounce off of the lower end of the channel + it is the point of control (purple line) on the volume profile indicator, i also just like flat $100 price as a psychology level for support - I like it for a rally back to $120 before bears come back in play. See below my post from a year ago - sniped monero original break out ...
I think XRP is a solid buy under $0.30 here. we are running into multiple structure support - the first being the bottom of a descending channel, the second being the trend-line support from the old structure before the parabolic move to $3.00... If BTC does fall to 5k, this would land XRP back at $0.22 or so, where the blue point of control line is coming in. but ...