DrJLT

DrJLT

With some elements of surprise (and perhaps a lot of FOMO), EOSUSD achieved the $3 target a week earlier than I thought (see previous post). After such crazy gains, some consolidation should come at no surprise. In the long-term view, we appear to be at the end of Wave I. Wave II should be corrective; however, considering the launch of the testnet in a week's...

DrJLT Updated 

ETH has delivered some growth last week as attention turned towards it. It briefly touched $500 on some exchanges. At this point, ETH has been consolidating. For many, it is a period of preparation for upward breakout. This is indeed a probable scenario. Distribution: However, time is not ETH's friend here: it is highly unlikely to stay at a high level without...

DrJLT

About two weeks ago, I posted that BCHUSD was going to continue out-perform the market. Indeed, it has done well, even though perhaps not as outstanding as the lines on my previous chart suggested. On the other hand, this relatively-quick yet highly stable growth means downside risks are reduced. At the moment, my target is still 2.618x = $2500 perhaps by the...

DrJLT

Last week, I first became afraid that ETC was breaking channel. A couple of days afterwards, however, ETC jumped and proved me wrong. It appears now that ETCUSD has reached the previous high. It is possible to perform a retracement before breaking this level. Between $18.6 and $21 would be my guess. If successful, a mid-term target of $40 would be possible.

DrJLT

To follow up my previous post, I think XRP will remain relatively stable. The best-case would be $0.3 by the end of 2017 with possibilities of minor retracement. Market enthusiasm clearly isn't with Ripple at the moment. Whenever indicators reach overbought territory, price is likely to fall, but very briefly. Some may think the chart resembles a pennant, which...

DrJLT

As the title says, DASHUSD is very bullish. Its movement has also been quick. In the last wave, it retraced quickly to 0.382 levels before jumping another 1x. In the coming round, we could expect a retracement to $500 levels before quickly rebounding to $800. Then, we may see a period of consolidation that extends to 2018 before the next jump. To enter a long...

DrJLT

A couple of days ago, I posted that EOSETH is very bullish (see link). I believe this trend will continue. In terms of waves, we are merely in Wave 1. The most bullish move will likely come in Wave 3. Within Wave 1, now we are in about Wave 1.5. As the testnet will come online on 4 Dec, I expect this leg to continue as least till 3 Dec. I think $3 is...

DrJLT

As I've mentioned in previous posts, BTC isn't a traditional asset in that it's exponential, as it should be --- the blockchain technology & multi-sided platforms grow exponentially. Nevertheless, 10k USD is a very significant psychological barrier. It would be quite impatient to expect BTCUSD to break 10k like it's nothing, even though it has indeed done so at...

DrJLT

LTC has maintained its upward trend in the past months. Recently, it has had a rounding bottom. The volume confirms that yesterday's touch to the previous ATH is valid. After touching that level, it seems like LTCUSD is consolidating in order to breakout to a new ATH. A possible level to look for would be the 0.618 level ($75 circa). I think unless the macro...

DrJLT

We can agree that the general trend for ETH is very bullish. In the last hour, ETHUSD already touched $445. The question is will it touch $431 or go straight up today? Since the indicators have dropped to levels unlike those of Friday and the consolidation has been longer, I believe it is very likely that ETH is not going up today. It may then touch $431 before...

DrJLT

This is a tricky one. In the past month, there are numerous occasions where it should have fallen, but right when it dips someone comes in to pump like crazy. This has happened at the very least 8 times. Now, we see that all indicators suggest a further run, even though a 0.5 retracement to $400 would be reasonable. I have doubts whether it could fall at this...

DrJLT

Volume contracting, bearish divergence, troublesome politics... the question remains: Will BTC ever correct downwards? This is the prime example of an asset backed by big-money interests. If it drops, it is always when we least expect it. When an increasing number of people here post ideas that suggest BTCUSD may fall, it most likely will not. In the coming...

DrJLT

A couple of days ago, I posted a negative view on the outlook of ETCUSD. I mentioned that it needs to close above the trendline decisively to continue the bullish climb. It appears that today's jump accomplished just that. It however remains to see whether ETC can remain at this level and consolidate. As common in this market, there's a lot of FOMO that pushes...

DrJLT

XRPUSD is quite stable for a coin, rarely moving over 3% per day. It appears that XRP is still in an upward channel despite slow growth. Part of the current drop may be attributed to chasing more profitable head-line-grabbers such as ETH or BCH. But in time a growth to $0.3 remains possible.

DrJLT

As the chart shows, EOSETH appears to be in a very bullish channel. It seems to have completed two rounds of retracements (@.5 and .618 levels) and ready for the next jump. I think 0.007-0.008 levels are possible before the next round of consolidation.

DrJLT Updated 

You can see some divergence in both RSI and MFI compared to the previous attempt at the long-term resistance. The coin is already overbought yet it still cannot break the resistance. Early entrants will choose to lock in their profit, draining the steam from ETH in the short-term. Mid-term, it may seek support at the long-term trend line. Of course, most likely...

DrJLT

As the chart shows, ETCUSD may be breaking the upward trend line and head for mid-term reversal. This needs to be confirmed if it fails to close above the trend line in the coming days. The mid-term resistance level has not been successfully broken. There are also bearish divergences (see chart). Combined with the general market context where ETHUSD is getting...

DrJLT Updated 

Bitcoin just shrugged off a major dump and jumped 40% in a week. 8k USD & 7k EUR showed exactly zero resistance. Meanwhile, there are obvious divergences in RSI, MFI, & volume. However, these divergences simply mean minor adjustments may or may not come in the next weeks. As mentioned in an earlier post, the price of BTCUSD only makes sense if you look the log...