jalele

jalele

as a technical analyst we use our indicators to help us determine future price movement, however in the crypto space, we must also know when to ignore the indicators and follow price movement, if ETP is being hyped, who cares how high the rsi is overbought, it doesn't matter because the masses are buying into parabolic coins, they don't read the technical...

jalele

Bitcoin has been gaining lots of positive momentum, especially from news about the ETF. If you look on the WEEKLY chart (I will publish below) you can see our MACD has crossed and momentum is shifting NORTH on the large scale. STOCH RSI has also shifted north on this large time frame. SO the next bull run could be starting now. I see the Waves on this chart as...

jalele

We are seeing bullish divergence on the daily RSI and macd looks as if it can push a bit higher. The key to this Technical Analysis is Elliot Wave, I see the fifth wave, which in theory shouldn't be longer than the 3rd. So Maximum projection at 0.41usd. Good luck!

jalele

See chart

jalele

Taking a look at the fib extension we can anticipate around 140% increase from the bottom of wave 2 which puts us at 1.82 usd. Considering BTC is setting up to pump higher, I can expect more upside from Zcash, despite the overbought conditions.

jalele

See chart

jalele

Indicators are oversold, bitcoin is looking to break out. I See OMG Setting up as well.

jalele

Assuming we are in wave 4 (corrective wave). RSI and MACD are showing confluence to the downside. We should retrace no more than 6800 to remain bullish. I'm shooting for 7k, then with the trend based fib extension. We should be able to go up to 9000-9700 (130%) extension from 7k low.

jalele

SEE CHART

jalele

We're looking at the 4th wave down of 5 Elliott waves. Expect a pullback with CBOE Bitcoin futures expiring. With the Fib extension based off 161% level. Take a look at the chart

jalele

Overbought on RSI on the 4 hour and daily. Quick short opportunity. We still have to see what BTC does to expect more upside from alts.

jalele

Short opportunity for ZRX

jalele

We could treat this whole little section as waves 1 and 2 of our 5 impulse waves up. I've just highlighted in the green box where you could take 50% profits, take the next 50% after wave 5 completes. Myself personally I'm not trading a long position, but here you have the potential scenario. Good luck.

jalele

only if the crypto market continues to show strength off this bounce would I play a long position. It's quite risky but we could see 30% upside from Zcash. Oscilators are still quite oversold, and Macd is poised to shift north. So this is something you could play.

jalele

ETP IS overbought-JUST TO ZOOM IN on my price predictions. Take a look at the RSI and MACD on the daily are both basically maxed out to the upside, I don't see how this can push any higher, ESPECIALLy considering bitcoin is going to continue to drop.

jalele

Shoot for 6200, around that range if you want to make 1-2% or short from that range and shoot for the 5800-5950 range.

jalele

13% increase in 24 hours with ETP, looks overbought on the daily charts. I see a quick consolidation at it's current price range then break down. Follow the elliott waves and the Fibonacci levels.

jalele Updated 

Following btc's correction. We're getting a bounce off of key fib support and oversold rsi on the 4 hour chart. On the daily, like bitcoin RSI mainly overbought. So we should see the slide down to continue.