Will this be a retest and down to new lows or will we get a breakout? Truth is nobody knows. If we get a hard rejection here and it gets bought up over the next few weeks thus putting in a higher low on the weekly, it would be safe to say a new bull market has begun. But until we get that, you have to assume bear market is intact (even if it doesn't feel like...
Bitcoin keeps pumping and its fun. Looks like its heading for 7k where we either get a breakout or get a rejection. 200 MA on 3 day is a good spot to watch. If we break through that, then I think it makes its way to 10k before a roughly 40% correction. Other scenario is rejection at 7k and 40% correction to 4200 level. Reason I say 40% rejection is because...
3 day chart may be more helpful. Can go either way, but what worries me is no retest of the downtrend breakout and no higher low on the weekly. The two things that would tell us the bear market was behind us. Good luck.
In terms of risk/reward it is a short. A stop above the 170 level gives us a clear exit to minimize losses (you could wait and see if it heads up there before entering short). This is more a trade based on risk/reward. I wouldn't be completely surprised if BCH breaks up but until then its clearly a short.
Most important part of trading is finding those good risk/reward trades. Tight stop above resistance ensures minimal draw down in the event of a break out. Blue bars give an idea of a possible path into the summer. Good luck and if you know of anywhere to short the LTC/USD pairing other than finex please share.
Just a close up of prior ideas (had some comments that my charts get too zoomed out). Anyhow, should already be short from higher up but if not short already, you should set your short orders for under 3500. Might as well wait for the confirmation.
S&P 500 is retesting. Given that we haven't had any sort of a pullback since December, there is a possibility it is putting a top in. Short it here with a stop loss just above resistance. A good place to think about unwinding some equity positions.
You might ask why:
(1) Ether's price per daily user = $1,700,475.25 (14.67 billion / 8627 users)
Google's price per daily user = $360
Facebook's price per daily user = $280
*****Using Google's value per daily user, Ether would have a price of 4 cents per coin*****
(2) SEC still going after ICOs issued...
Just an idea of what can happen if Alt market cap doesn't break out. Not too far fetched considering Ether reached a valuation of $2,050,000 per daily user yesterday while Google is priced at a lowly $360 per daily user. Play it safe and don't FOMO my friends.
What I've been watching. Recent pump came a couple weeks earlier than expected but otherwise been on point. Best guess is a week perhaps 2 weeks hanging around here before the big dump starts to really develop. Good luck.
I was looking through some of the crypto news sites. I found exactly 1 article that said Bitcoin hasn't bottomed. All the others were calling a bottom and were super bullish. I was looking at the ideas posted on here. Most people think we've bottomed. Come on folks! Wake up and look at the chart.
Seriously, does that look like a bottom? No way my...