I'm watching what happens to $7700....? A good case - is a stop hunt waayyy down ($6500ish) but - I will suffer this slow bleed (max penetration can be fast, and, worse - slow) until GeoEconomicPolitical 'news' for the masses reveals itself. Frankly - I'm spending most of my time watching and moving on PMs and housing.
A weird sort of Reverse Head and Shoulders (H&S) pattern? When BTC hit bottom around 15 Dec 2018 the H&S pattern was more "level" i.e. not sideways/canted like this LTC H&S.
I'm watching ZEC - note RSI Compare to BTCUSD -- back in mid Dec2018 to Jan/Feb timeframe... Please note: both ZEC and BTC (paired to USD) charts are on same timeline on this presentation (i.e. you will have to scroll back in time to compare BTC)
This chart covers the BTC Bull move since bottom, Mid Dec 2018 Shorts - right on the line
My next buy zone is at (USD) $8464 region, as designated by green box on this chart. *** this is a target based on all info I have at this moment, and can be changed or CANX in a moment.
Watching LTC for clues... note the 50/200 MA difference between LTC and BTC
---Composed this for a friend--- A comparison of a large trucking company and the DOW Jones Transportation Index. Using the DOW index to look for early signs that can affect the smaller logistics components. I am bearish (negative) on Industrials. Why? At the most Macro -- President Trump does not want war, but, Congress is too divided for comprehensive...
I'm not sure if this is a fractial - but the arrows are showing similar patterns (to scale). Note that the chart is all cryptocurrencies.
Snapshot of 50MA and 200MA relationship on 1 Day AG (silver miner) chart.
One scenario based on 50/200 Day MAs, strong TA lines, Fibs - and assuming sideways action rest of 2019 based on Macro factors that are being discussed and tweeted, but might not be at all fully realized (QE questioning, US Interest rate lowering, China deal). Still long - happy to survive another year.
Bitcoin looks good. Healthy ecosystem good. I don't care if it goes down for 2 months - it is displaying a balanced pattern and shows the Bears are not in long term control.
I am incapable of plotting a bottom for XRP. It could fall to the abyss. I hope this drop is it's 'Bitcoin equivalent' at this time last year, when Bitcoin went from $6K to $3K, then recovered. Note 50/200 MA on 1 Day - Golden Cross, now Death Cross, and let's hope for a Golden Cross. Until then - note the tag -----
I love TA. Already one Red Candle Soldier has entered my green kill zone (perfectly, full length) and now, another. This rectangle was built, about a week ago, with simple Fibs for 2019, and a line from price action the past 2 weeks. Watching to see what else happens... ----then... commit to action? No need to trip the ambush too soon, and,...
Resistance (sloppy top line on Pennant) - is now (tenuous) support. Let's see if this new development holds. Geo-economic chaos continues and this (now) support holds - I'm buying MOR - with expecatation macro Fib levels will be tested ( to BTCUSD ATHs)
The .236 Fib has been a point of hesitation the past 6 or so weeks.