Quant has been consolidating in an ascending triangle since it started trading. It checks a lot of the conditions I look for before opening a positon with a trend-following strategy.
Once trigger condition is met, I reassess current market volatility to figure out if the risk:reward is favorable to grant opening a trade.
Time to pay close attention.
There is a strong confluence of a yearly trend line and a yearly support level that will most likely behave as resistance now.
I expect an aggressive BTC Dominance push that might reach >= 66% with alts bleeding hard and shaking out weak hands, followed by an extreme rejection and reversal in BTD.D.
I wasn't a big fan of this trade when I entered, but the idea was solid enough to warrant a position.
That said, price action has been rather good for us. Price has bounced off decisively from our entry price. Given my overall outlook on ALTS I expect price to continue much higher.
Again, this is a situation where mi position should have been stopped out given...
Compared with what other alts are doing, I am not a big fan of XRP's price action. That said, price has been creeping back up to that critical S/R level at around 3325.
I am extremely proud of being long XRP and not shaken out after such a massive 40% move in BTC. I have a feeling most people got stopped out. The key is entering early after a range breakout. The...
Well I didn't expect the China news , but I did expect TRX price to sky rocket :)
Tron bounced beautifully off that S/R area around 175. Volume has been consistently high at this resistance area for the last 3 days. In my opinion, volume is one of the most underrated metrics in technical analysis, if price is king, volume is queen.
I am expecting this area...
As expected when I spotted the clear falling wedge ETH was forming, we had price take off from the 160 area showing massive support there.
Similarly to BTC, we had a clear breakout and retest of the trend line forming the wedge, I entered a position at said retest.
ATL/USD pairs in general look particularly good. Time to pay attention to alts.
Time to collect my thoughts on BTC after this massive (30%+) weekly candle that broke out of the falling wedge.
I ended up closing my short at the bottom of the move (around 7.4k) on the basis of an unfavorably evolving risk-reward. It just wasn't a good idea for me to long there.
After the big move to 10.5k, I was set out to long the retest of the broken...
This is not your typical BTC chart. Can you even recognize the price action?
The reason I've decided to zoom in on these weekly candles is simple. I want to highlight the fact that the weekly candle closed below a significant S/R level at around 8240.
I don't just look at price action when drawing S/R levels, I take market volatility into consideration too....
After a clearly define range breakout with a 42-day high, Aelf has been continuing to set new highs every week, setting a nice trend towars a significant 0.0001250 level. A break and consolidation above this level could potentially set up a very nice risk-reward trade.
Volatility has been kept relatively low which would allow for a closer stop level once we reach...
This is one of the clearest reversal patterns I've encountered so far in any altcoin. Allow me to explain.
First, we were not able to make new all-time lows. This is very significant. It shows the market refusing to even test that price level. Secondly, there was a spring capitulation candle that broke a previous range (doji candles in succession) to the...
Saying Bitcoiin is a microcap is an understatement. If I would ever even consider a position in such a small market cap with an iliquid market, a lot of things need to align. First, I would like to see a clean weekly close above the red line. Secondly, a consolidation period where we could buy a wick below the red line where price gets rejected. Finally, a...
PotCoin has been ranging for almost 4 months. Remember my altcoin trading maxim: 'When a range forms, pay attention. When a range breaks, take action.'
The technical picture is so clear when you analyze some of these OG coins.
Time to pay attention at BLOCKv. It has been forming an ascending triangle for the last 75 days. This is one of the most consistent reversal patterns I see in cryptocurrencies. Additionally, a breakout above this triangle will set up a ridiculously good risk-reward trade.
Fanstime just broke out above previous resistance, setting a new 69-day high. As you already knew, I like buying strength and selling weakness. In general, alt coins trend pretty hard. They are either going up or going down. You very rarely see them range. In fact, a ranging alt coin is a sign to pay attention.
This is not the greatest risk reward and volatility...
Wings has been setting higher highs and higher lows for the last 3 months. I am looking for this price area to hold as support and consider entering a very nice 1:12 risk-reward ratio trade.
There is a lot of confluence with how the altcoin market has been behaving since mid July.
A chart says more than a thousand words. In accordance with our BTC short-term bear bias, Ethereum might complete the formation of this falling wedge. There is a lot of confluence in that green box. I would like to see ETHBTC continue its ascend while BTCUSD keeps dropping.
Very clear breakout from a 400+ days established range. Significant S/R flip. Position opened. Might widen stop a little bit and decrease risk-reward ratio.
I only open long Ethereum Token positions when ETHBTC chart looks good.