graham.edwards84

graham.edwards84

My feeling is that BTCUSD will not rally above the all time high. I think a double top scenario is playing out and that more downside is ahead in the weeks and months. The market is very frothy but many investors are on the sidelines waiting to see a clear break higher and this will not happen. Gradually confidence will erode and the Coin market will undergo a...

graham.edwards84

We might see a strengthening of the US dollar here but to what extent. DXY is trending in a downward wedge over the last 30 years and the Euro is trending in a rising channel

graham.edwards84

DGBBTC idea. More consolidation ahead?

graham.edwards84

Thoughts?

graham.edwards84

It could be a a test and retreat. Then a rebound ahead.

graham.edwards84

If ZCASH can stay above baseline support over this test here then I would hope to see the beginnings of a move to the upside.

graham.edwards84

We're not there yet. Some further small consolidation but we're getting close.

graham.edwards84

I drove past the new project site the Edmonton International Airport. It will be the world's largest single cannabis growing operation from my understanding. I not sure why anyone wouldn't buy with a chart like that but it's only my opinion. Especially with the 20 MA crossing the 100 MA

graham.edwards84

At this point after seeing the rally to nowhere come out of (know-where?), nothing would surprise me... "It's different this time"... well it's different all right but not in the sense that "It's different this time". Here's an idea... a complete reversal crash here. I'm a buyer if it does. i'm certainly skeptical of a move higher with any substance at this...

graham.edwards84

ETHUSD is plotting very nicely on the 4 hour chart and has made two very good rallies to strike the 100 MA and more recently the 200 MA as you can see on this chart. I would hazard a prediction that it will consolidated down a bit from here and that the next big rally will predictably tag the 300 MA as I have charted. This will look like a trend line breakout and...

graham.edwards84

Potential reversal points, IMO.

graham.edwards84

This is a LOG chart and shows what I believe to be one potential pathway to the next rally. I think we must engage the 200 DMA at some point. Maybe sooner or maybe later. Patience is the key. Don't get caught up in a buying rally unless you are certain that there won't be further downside. Sure you can trade the small swings... my strategy is to buy small amounts...

graham.edwards84

I see ETHBTC moving closely in step now for the next few days.

graham.edwards84

Breakout or fakeout? I'm thinking breakout... thoughts?

graham.edwards84

DASH is in dangerous territory as by my standards one it crosses the 20 Day MA to the downside I get ready to sell. However, given the extreme movements of both BTC and ETH to the downside, DASH has held up extremely well and for now I'm giving it the benefit of the doubt. As long as it stays above the 100 day MA I'm willing to hold on as my outlook for DASH is...

graham.edwards84

In my opinion we do have a shot at reversing here, but my feeling is that even a reversal here would be temporary and that there is more downside to come in the next few weeks. I think Litecoin will lead the rally followed by Ether and Dash and this will add to the pressure on Bitcoin as funds flow out and into these alt coins/tokens as they rally.

graham.edwards84

ETHUSD has breached the 100 day MA to the downside. Next target is the 200.

graham.edwards84

One possible option that still seems to be in a positive trend and could be a safer coin to hold during this cryptocurrency downtrend is Litecoin. We will need to see a break higher of the upper signal line. It is attempting to do so but there is some resistance. MACD has crossed to the upside on the 4 hr chart