DrJLT

DrJLT Updated 

I mentioned twice in the past week that I believe BTC would go to 1.618x extension of the year i.e. $18k before its derivatives are alive. Yesterday bitcoin swept all other major coins and has shown zero sign of slowing down. However, there are only so much money to go around. I think the $18k target could potentially be reached later today or tomorrow. The...

DrJLT

In my last post, I suggested that BTC may be heading for $18k by 18/12 -> the day CME starts trading BTC derivatives. However, we're now seeing an acceleration of BTC. There's a good chance we'll be heading for $18k (1.618x) by Monday -> the day CBOE starts trading BTC derivatives. The rationales are the same. Check my previous post. Meanwhile, BCH & ETH are...

DrJLT Updated 

There's little doubt that BCH has been underperforming BTC. I personally have suffered financially by not selling my BCH to BTC when it was 0.5 or 0.2. It's been really disappointing, but the time to sell was before -> not a good idea to sell the bottom now. There's a possibility that a rounding bottom is forming -> it's critical that BCHBTC doesn't fall under...

DrJLT

In the last post, I mentioned that ETH could be leading the recovery from the correction last week. Alas, in fact the only major coin that recovered quickly was the crasher itself --- BTC. The indicators have now turned bearish for ETH. There's a possibility that it will retest the long-term support (see chart). It would be a double-top reversal if this long-term...

DrJLT Updated 

I've been holding BCH for over a month. Fast growth in the beginning, but lately it's been having trouble regaining momentum. I made the mistake of ignoring the indicators and investing on emotion (see the three circles in the chart). Currently, there's a possible rising wedge forming. We've already seen that in the quick crash yesterday BTC bounced back...

DrJLT Updated 

EOSETH has had a great run since my last post. At this point, we've just broken the channel, and indicators all suggest overbought condition. Besides, testnet will be alive in a couple of days, and the price of the news has been fully discounted. In this context, I expect a short-term adjustment / consolidation. Maybe the price will move sideways instead of...

DrJLT Updated 

XMR has had some bearish divergence last week. I think two possible scenarios may play out: 1. XMR goes to $220 and then retraces 2. It goes starts a correction now In the long term, XMR will go up, but short-mid-term play is likely to be driven by the sentiment of the market overall.

DrJLT Updated 

While nothing is certain in a market, XRP is certainly a laggard. It goes up very slowly in a massively bullish market, and when Bitcoin gets a small correction it crashes like a champ. Some may say that a couple of good news are coming, but that's only good opportunity to sell XRP to the next unlucky guy. Technically, we can see that XRP has a cyclical thing...

DrJLT

CME is launching BTC futures derivative on 18 Dec. On this news, BTC rebounded from the last minor crash. At this point, it is quite likely that we have another .618 extension, which means $18k --- this could be the most interesting coincidence this month. As many have pointed out, nobody actually knows exactly who are going to be playing on that market, and what...

DrJLT Updated 

There's no denial that the fundamentals as well as the general trend is favorable for Litecoin. In the short-term, however, there're signs that it has been overbought. The bearish crab pattern may be confirmed today, and increased volatility may ensue next week. There's strong support as in the chart. It'll be a good idea to long when price retraces close to...

DrJLT Updated 

Two observations & guesses: 1. If all "coins" follow the movement of Bitcoin exactly, there's much less reason to have hundred of these coins on the exchanges. The market will remain immature & weak until at least one or two coins can move independently in times of high volatility. The current situation is worrisome because Bitcoin is heading for either certainty...

DrJLT

Bitcoin appears to have reached the end of its crazy run (I could be wrong again), and the sell-off has implicated all other coins. Previously, I mentioned that ETH could be heading for a reversal. I didn't mean it would go to $200, but more like around $430 for consolidation. I was wrong before, and the drop was for a different reason. Nonetheless, there has...

DrJLT

One thing I noticed today is that while BTC is leading the drop, its drop is the smallest. I believe this is because many altcoins are only traded against BTC on many exchanges. People sell their alts into BTC, and this dampens the drop in BTC by creating a demand. However, these sellers are also going to sell their BTC into fiat. Therefore, BTC will not be...

DrJLT

As the chart shows, there are a few possible scenarios that may play out in the coming days & weeks. IMHO, strong support is at 0.382 / $5k. There's little doubt that BTCUSD has been over-extended. In this process, we've seen some bullish indicators, but recently there're some bearish divergence. Wave 5 is also too long. As I mentioned before, BTC is growing...

DrJLT Updated 

DASH has been very steady, avoiding a drop in yesterday's initial crash. This has attracted many investors who rushed in to chase security. In this process, DASH also omitted retracement before going on Wave 5. Now at $800 it's already at the 1.618 level. Normally, this is already shaky. Indeed, in my previous post I set the target to $800. I think at the next...

DrJLT

There has been some irrational sell-off (or was it price manipulation?) in BCH earlier. Nevertheless, the chart shows some promising signs: 1. A bullish gartley 2. A rising wedge 3. A rising channel that's only broken in this reactive sell-off Nonetheless, upward movement is unlikely until the market stabilizes. There are also some bearish...

DrJLT Updated 

Personally, I think BTCUSD is one of the most manipulated coins out there. Today, I just got an idea on how manipulators benefit from its price movements: 1. When bitcoin price jumps, the growth of other coins slow down. 2. When bitcoin has a flash crash, other coins also have a flash crash. 3. People move money from other coins to bitcoin. 4. Bitcoin recovers...

DrJLT

Yesterday, I mentioned that ETHUSD is likely to have a H&S reversal. Since BTCUSD just broke $10k (to my surprise indeed), even more funds are escaping the top from ETH. It's even harder to imagine ETH regaining momentum at this price level without any retracement -> in fact, the longer it stays here, the deeper the fall will be (as investors who've been waiting...