Maybe we have arrived at our final destination. The fib study; #1 - the fib of the entire bull move. #2- Fib of the last wave before the ATH was made. #3- Fib of the bear move from the ATH to the swing low. Fib #3 - Price has hit the 127% extension from the ATH and the 1st corrective wave. I have drawn this from the failed high where the capitulation of BTC...
ETH has had a marvellous run - and as GOLDBUG1 mentioned in his post it has the same characteristics as BTC before the extension or the last wave before the correction. Future: My analysis tells me that we will see a move long in the next few weeks. Past: Price has stalled/consolidated at the 127% extension of the last corrective wave after the leg up. Present:...
Price needs to break through this area of resistance to attract more Bulls. I have drawn 2 possible scenarios- you can never be sure what will happen. You just need to prepare for both scenarios. Price may falter at the 16K area before heading south. Or if resistance becomes support we are heading up. My bias is long.
Previously I published a daily chart indicating where I thought price may begin to gather momentum and head up. On the left is the Daily chart. Price is retesting a long term trendline for the 2nd time at the 0.382 retracement from the swing low at 5100 and the ATH and we are at a 23.6 fib retracement level of the last swing. That's 3 compelling points for me to...
Price is retesting a long-term daily trendline, if price begins to falter here and we see a COT (change of trend) on the 4hrly chart I will add to my position. I have bought BTC to early so I will be waiting on more confirmation to enter the market this time. If price breaks the trendline we will see 8370ish or the 23.6 retracement level before heading up. I have...
NEM is on my list to add to my position. I was waiting for a deeper retracement - price has met the daily trendline and the Bulls have taken over. My projections are drawn on the chart.
I have held off buying Ethereum as I would have chased it and I have lost too much $ over the years in doing that. My reward is that I get to buy in at a very good price. Its like sale time with Crypto's. So I will buy off my level as price has now held the reverse fib level on the 4hr chart confirming my trade plan. See my new targets from the corrective move.
Chinese Ethereum- I researched this coin a few months ago and was convinced it would be a good coin to invest in. Well looking back it was one of my better decisions. I have tripled my investment and I have scaled my position significantly and I am now looking to buy back in I see several levels. Maybe BTC will give me a clue - correlation. I like the converging...
I have owned DASH for a while and I am waiting for a sign to add to my position. My plan is to wait for the resistance to be broken and retested before I add to my holdings. The projections or targets are not clear so use them with caution. I've noticed many charts in cryptocurrency Usually, the 1st move swing (flag pole) is repeated from the bottom - see projections.
Price has respected the hourly trendline a 3rd time- Some cautious traders will take this entry long as they wait for a 3rd touch and watch for price action to take the trade - however, they mitigate their risk by not jumping in too early and sweating out 20%- 25% in the red. It's a good place to take a long from if you feel you have missed the boat.
I have had this coin for months. It was slow to increase in price but my hunch paid off well. With Vitalik Buterin(co-founder of Ethereum) at the helm of the Dev team it was a pretty good bet. I have sold down at the target and I need to buy back in to build my position. So I am scaling NEO at 334% profit to buy back into OMG to increase my overall ROI on my...
Sorry I was unable to edit my chart after I posted it. Here are the projected targets.
Verge Currency is a cryptocurrency designed for everyday use. It improves upon the original Bitcoin blockchain and aims to fulfil its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining personal privacy. I had a quick look at this pair earlier today and decided to add...
The Cardano blockchain network launched digital currency ADA, named after Ada Lovelace, who wrote the first computer program.ADA is fast, secure and has low fees. Cardano, however, is more than just a digital currency network. It is also a platform that can run decentralized applications (dApps). These dApps add functionality to the network, similar to adding...
When I had been trading for around 4 years I realised the importance of the 0.382 retracement/correction levels. I had read a mountain of books and done every course available at the time to invest in my dream job 'a professional trader'. Alexander Elder has written some excellent test books on how to trade for a living. It helps you to eventually trust yourself,...
When I look at a chart I think who are the people trading this pair? When I see moves that are somewhat predictable and perfect touches of fib levels that professional traders trade from I think this must be a good coin as people are trading this like pros. I predicted the price action and we have met our first target the 161.8 of the previous swing. We then...
The price action for this pair is a 'text book' play. This tells me professionals are entering the market. Price retraced to a 0.382 of the move swing and long term resistance that became support (role reversal). Price met the trendline - then on the 4 hr made a COT (change of trend) to confirm a Bullish move = HIgher highs and Higher lows. That's the entry....
SALT is a great coin and I have done a trade plan based on where this coin started with it was listed. I am banking on mean reversion - that is a retracement to at least 50% of the decline. This is a long term play for me.