Sherem

Sherem Updated 

Chart update. Position: Very Bearish with a chance of bounces Technicals. Day and Weekly Chart. 1. RSI is in negative territory 2. MACD looking vicious to the downside. 3. Breaking lows. It's clear we are in a bear market. No question at this point. We want to look for signs of a reversal, but there are none and we will continue looking. With all of that down...

Sherem Updated 

The double top neckline was at 9.4 which we broke by about $1,000 with the push down to 8.4k area. The thing to realize here is we are in a bear market. There are few reasons to say that we are at the bottom at this point. Technically here are some major bearish indicators on the WEEKLY chart: 1. RSI is negative and no signs of divergence or bottoming 2....

Sherem Updated 

The thing to realize here is we are in a bear market. There are few reasons to say that we are at the bottom at this point. Technically here are some major bearish indicators on the daily chart: 1. RSI is negative and no signs of divergence or bottoming 2. Overall down trend. 3. MACD just turned down and going into negative territory On the smaller time...

Sherem Updated 

The thing to realize here is we are in a bear market. There are few reasons to say that we are at the bottom at this point. Technically here are some major bearish indicators on the daily chart: 1. RSI is negative and no signs of divergence or bottoming 2. Overall down trend. 3. MACD has been turned down and staying negative On the smaller time frames, things...

Sherem Updated 

Depending on where you have your line drawn, we have 100% pierced the 9.4k support level and it could be argued that we broke it. We really need a candle close to indicate that it's going down further. But I don't see why it wouldn't at this point. There is a big seller out there and it looks like it's going to continue. It sounds like it's Mt Gox dumping to...

Sherem Updated 

Ether has confirmed the head and shoulder and broke the neck line. A push down to 600 seems to be just a matter of time. The real question is whether or not this ABCD pattern is going to hold true. At this point, I think it is but I don't have a crystal ball so we will see. Besides the technical aspects of ether itself going to 400, if we look at the correlation...

Sherem Updated 

Now that the 190 level has fallen, we should see it move down further to at least 150. My entry point of 171 was barely missed and it has bounced off that area pretty well. I am going to be moving my buy just slightly down in the high 160's since it most likely going to push through this 170 level at this juncture. I would imagine that we will get a strong bounce...

Sherem Updated 

Most of the indicators on my chart haven't changed from the last one I posted which I linked below. This head and shoulders pattern has taken a while to form. It's moved sideways for quite a while and now it's pushing down to this 800 mark. If we break this 800 level, expect a push down to at least 600. I see no reason why it wouldn't at this point. We have been...

Sherem Updated 

We are starting to break this ascending triangle to the downside. While we could have support at this level to finalize this part of the ascending triangle. But....It's not looking like it, selling has picked up and it's looking like it's breaking to the downside. I will NOT be entering in for a buy to the upside at this juncture. The buy would have been valid if...

Sherem

We have broken the ascending wedge from my previous post which is a good indicator we are going to move down. My posts before that still remained bearish for the most part on LTC. Once we get a confirming break of the 190 level, i think a retest of this $100 area is entirely possible. In a bear market, no better trade strategy then using the martingale...

Sherem Updated 

In this chart we have BTC/USD in the green and red bars, while ETH/BTC in the purple and magenta. I want to compare the two to really understand why BTC is moving up the way it is and identifiers that will help us know when it will reverse and a potential trade opportunity. This will help us know what to look when we enter and knowing why and how to be...

Sherem

Da VIX trade. The VIX is known to be dangerous and you can lose a lot of money if you are trying to short it... This is one of those trades we are going to set and quite literally, forget about it. If you go back farther you will notice that the VIX never really breaks to the down side, it spikes up, and then comes back down and bases out. The thing here is this...

Sherem Updated 

If you follow me, you know that I am not about looking into the "crystal ball" and seeing what could be. A lot of people say, here is a glimpse into the future! Really cute, it really is. That's how you lose a lot of money as a TRADER (If you are a long term investor, that's an entirely different ball of wax). As a TRADER, I look at what the charts are telling me...

Sherem Updated 

If you follow me, you know that I am not about looking into the "crystal ball" and seeing what could be. A lot of people say, here is a glimpse into the future! Really cute, it really is. That's how you lose a lot of money as a TRADER (If you are a long term investor, that's an entirely different ball of wax). As a TRADER, I look at what the charts are telling me...

Sherem

Position: Bearish Neutral - Waiting to see what happens Bitcoin had a nice bounce up back to just above this 10k mark. There are no real indicators that it's going one way or another. We have the RSI indicating that we are hitting a trend line there, but that's it. The MACD had a bit of a cross up, but nothing convincing. For me the buy zone is in the 8-9k...

Sherem

Position: Bearish Neutral - Waiting to see what happens LTC has had an interesting run this past week. It has had a lot of solid moves on the LTC/BTC cross with a substantial move up. What could be the trigger down is everyone trading the LTC/BTC/ETH crosses and looing to realize those gains by moving to USD. Maybe that will cause the trigger? What it has done,...

Sherem

Position: Bearish Neutral - Waiting to see what happens We have really seen this thing oscillate since hitting that 800 support point. Which proved to be a good point to play the market with a small amount. While the head and shoulders pattern still looks to be completing itself. We need a break of this small blue trend line and then a complete break of the 800...

Sherem

Position: Bearish I am adjusting my lines in from my last call to account for time. BUT to also pose a question that could potentially ratify this down trend! Are we forming a massive head and shoulders pattern?! If we get more sideways movement, we are only going to confirm this. It's do or die time for ETH here. This 800 level is key . It's already tested this...