The market could break either way but trading below 50 day MA isn't looking bullish. Most ALTs also trading below 200 day MA so there is divergence there too. If the triangle break lower then fib level .5 and .618 should offer support. On the up break of the resistance level around 12,500 will favour the bulls.
In this video, I am building a case of a 9000 bottom. Over a short term we should see the retest to the 11200 resistance followed by 11500 price target. If market doesn't revisit those levels in coming week then we need to revisit if the bullish case holds.
Back in 2017, we could see that ALTS market cap was lagging BTC by the margin of 2-4 weeks. BTC was a defacto currency people would buy first before they get into ALTS however see the correlation in 2019. The lag had disappeared. Money pumping in ALTS and BTC happening together however BTC still quite dominant than ALTS at this stage. Most reputed...
Hi Guys - This is a follow up video from the previous one where I shared the elliotwave counts for the top coins. If you haven't seen the last video then have a click to the link for the related video.
Many guys are out there still calling for short based on unreliable indicators and cross overs. The monthly chart, we have now 3 motnhs hight and looks like it going to close very strong in May. The monthly MACD is about to cross over. Any pull back offers great opportunity in this market.
This is the weekly chart of BTC. The pattern on weekly RSI is quite clear. Below 50, bear market. Above 50 Bull market. The recent surge has taken weekly RSI above 50 and you can see it was the level of resistance throughout the bear. There are many other indicators which would point to same bullish momentum. You could still go for short but this is not 2018 so beware!
Zec is bouncing off the trend line. Potentially reversing the bearish counter-trend. The upper channel line is above 1000 mark. The all-time high was around 818 in Dec so lot of rally potential. At the moment looking good for entry in a long trade. The profit target would be between 700-1000 mark.
ETC has been hammered against ETH but here look like a 10X opportunity for contrarian investors. Volumes are low, no one interested so there is an opportunity to get in before others get interested. All minimum requirement for the diagonal triangle have been met. Looks like the low is already in place or it would form in the coming sessions. As with any low, the...
Tide is turning for NXT. As the old adage. Buy when everyone else is selling. The minimum Finonacci upside is 38.2% of recent correction which is 1.05 even if the downward trend continues. The current correction has almost erode 80% of value so we might already have already seen the bottom. In that case, it should revisit the recent highs above 2...
The rally has created super excitement with Bitcoin eying 10,000. It can be easily classified as Mother of all rallies however it also looks over-stretched. Based on the above wave count, it should be the final phase of Wave 5 circle in the Bigger Wave 3. If this wave count is correct then we should see wave 4 correction sometime soon.
Zec is turning from the bottom on the channel. An ideal target should be the top of the channel which is currently at 370 and rising. To protect capital, stop loss should be setup below the bottom channel line.
Ok, We might have seen the top or at least for a short term. In the coming sessions, the first thing to confirm will be the 5 wave down movement at the micro level. This will confirm that further selling pressure will resume after a-b-c rally. The short term target will be the bottom channel line in blue. From that point, there is a possibility...