XLMBTC has completed the correction. It has found support around the weekly EMA & lingers between 0.5x & 0.618 fibo levels of the previous rally. Now, volatility is down. The market has found bottom. Having said that, it's unclear when the breakout will happen, as it can still trade within this zone for a while. If interested, buy orders may be placed @ 0.00004.
Iota hasn't performed for a long while. Currently, it's in an ascending triangle. Unlike the last time if had a fake out (to 4.5), this time we're not seeing a bearish divergence. I think the most likely scenario would be a spring from $4. Having said that, because I expect ETH to start correcting soon & BTC may also be moving, the market may not offer enough...
Miraculously, bitcoin averted decline @12k & started climbing back up. It appears to have regained the energy it enjoyed in the beginning of December. Everything looks to be quite bullish, while the indicators aren't overbought yet. It's reasonable to expect 20k in the near future. What happens next will be interesting: On the one hand, it remains possible...
NEO has failed to breach $110 for the third time, and the bearish divergence I mentioned before still persists. In this context, it's likely to retest lower levels for support. Here are several: @ around 95, we have the pitchfork, the weekly EMA, and the .786 level all meeting at the same point. @ around 85, we have the .618 level and the mid-term trend...
ETH is temporarily overbought after breaking out the bullish pennant. Still, for its momentum to stop another ~$50 gain can be expected (& we'll get roughly AB=CD growth before & after the pennant). We're likely to experience a correction thereafter. Several supports are the weekly EMA (~950) and monthly (~800). I don't really expect it to even touch the trend...
History is repeating itself! I think it was @imkeshav (not certain) who first suggested this weeks ago. I was in disagreement, but now it seems to become reality. BCH is likely to trade sideways for January w/ at least one fake out & one spring (Wyckoff accumulation). Monthly EMA will provide some support, too. This makes for a good range-trading. Particularly,...
Bitcoin has been trading roughly in the grey range. It doesn't seem to have the strength for a meaningful breakout. On the contrary, this time it touches 15.5k, without a breakout we may see bitcoin instead seeking support. This also forms a triple top. If it goes down to the lower end of the range, bitcoin will also touch its mid-term trend line (since Nov)....
Iota seems to be at a crucial moment: The mid-term trend line from early November 2017 has caught up & after a fake out of the descending triangle it has been trading within a range. There're two possible scenarios: 1. If it can break out of the range with strong RSI, it can possibly go to the 1.618 extension ($8). 2. If it breaks down the mid-term trend line,...
BNB had good performance in December. At the top, it appeared to have formed a falling wedge, which would be a bullish continuation pattern. However, it had a weak breakout, and now we seem to be forming a rising wedge pattern, which would be bearish continuation. This shows the indecision in the market. Apparently, everyone is waiting for the bitcoin situation...
I'm bullish on EOSETH. This is based on the fundamentals. Price-wise, the arguments are the same for EOSUSD. Please check out my other post. Also see my website www.jlteng.com
GNT has had a good couple of weeks. It has gained >100% against ETH. At the moment, we are at the previous high while it's overbought. In the next couple of days, it's likely to fall somewhat. The question would be whether we'll have a couple & handle or will it be like the previous times when GNT continued to fall. Also check out my website: www.jlteng.com
NEO is a great project but is currently overheated. There's clear & strong bearish divergence in volume. Other indicators (not shown here as I can only pull three without a "pro" account) also suggest overbought condition. Because 1. The critical $100 psychological threshold is coming up 2. There's already an equal gain (AB=CD) after the mid-December crash I...
Very simple idea as the chart shows. Target is 0.0001 BTC. Also check out my website: www.jlteng.com And my other analyses
We can see that ETC finished 5 impulse waves in December & started to decline. At the moment, we're uncertain whether the corrective waves have been completed: If yes, and if ETC breaks up from here back to the upward channel, this can be considered the beginning of another large impulse wave. Targets will be above $50. If not, we can have another 0A = BC...
I've been suggesting that BTCUSD may complete the head & shoulders pattern & confirm a downtrend with targets at 9k or <5k. Two days ago, it appears that market makers had enough commitment to prevent the confirmation of H&S as they quickly pushed BTC above 12k (on Bitfinex). This has given many investors newfound confidence. We must now acknowledge the...
Very simply review of 2017 & what we can look forward to in 2018. I personally believe BTCUSD is still in a downward trend w/ H&S to be confirmed soon (it's now making lower highs & lower lows). In this context, many coins are going down against USD. With POS coming for ETH, I think it's interesting to look at ETHBTC. In my previous post wrt ETH, I mentioned the...
I've been saying this for some time, but bitcoin has certainly defied gravity. Its corrections are brief and shallow, and many have suggested that bitcoin can go to several million per coin in a few year's time. Nevertheless, I expect the failure of another fork in less than 20 hours to trigger another round of selloff. This will likely lead to the weekly EMA to...
After a rally, BCH has turned its head downwards. I myself was unduly excited about its potentials and had to take a huge haircut on exit. We shouldn't trade on emotions. Mistakes are normal, and when the interests of big miners are involved we're at an information disadvantage. On the chart, we see that monthly EMA has provided some support. However, just like...