Pressing against the 200 Daily Simple and Exponential. Bollinger Bands are squeezing showing upcoming volatility. Easily a 3x if you're patient.
I am punting longs on alts. Dominance is breaking market structure and alt/btc pairs are showing signs of reversal. If we don't hold this line, I think this we could see a true bear market. GLHF
Channel is created on Bitstamp in magnet mode using these 3 three data points: anchor: $153.42 swing high: $317.99 swing low: $198.12
Primary target is the convergence of the two weekly 200 moving averages. A weekly close above that level will be confirmation for me that we are aiming higher.
With btc dominance bleeding, we are seeing some alt/btc pairs showing some signs of bottoming/reversal. TTM squeeze is firing a signal on the 4hr and 1D, showing potential for a strong move. Seeing hidden bullish divergence on the 4hr, as well as bullish divergence on the 3D.
We're seeing that China's speculation on crypto projects has provided significant buy pressure on select alts (EOS, TRX, NEO, ONT, NULS, for instance). WAVES is on the top 15 of the CCID's Global Public Blockchain Technology Assessment Index (XIII) as of July 2019. A conservative entry would be upon a break of $1. If we do not go up here, I plan to accumulate...
We have a potential to have a dig a bit further (possibly even to $17)--this is of course dependent on what BTC does. That being said, I do not see how it is a bad area to start accumulating. Mid-caps are starting to all look better and better.
Prepare for accumulation breakout.
Alternative: klooking for a formation of the spring. Ideally, I can buy a small position between 7500-7500 and reinforce on the JAC (jump across the creek). There is also an opportunity to add on the pullback when we hit the top of the range. Please keep in mind, this is *not yet valid.* I'm just speculating so when i see a reaction below the range, I will have...
Looking for the Jump Across the Creek (JAC) for continuation. stockcharts.com
ETHBTC has been in accumulation since September 2018. The volume profile and tight range that it has built helps this bias. Looking for a close above the 200 Daily (EMA &SMA--both are better than 1) to bolster my bias that accumulation breakout is to happen. Dominance has reversed upon hitting the BTC ATH level and we're seeing altbtc pairs soar as a result.
Market conditions are different from 2015--this isn't priced in yet.
Resistance met at the 314MA. EOS needs to retrace to the 0.618 fib level before more upside, confluent with the daily 200MA/314EMA. We need to tap that liquidity pool in order to have the fuel to go up.