For the past 2 years, the holiday season (not exactly Christmas day, but near to it) has offered rock-bottom prices for alts.
This chart shows 5 of the major alts (ones with enough volume and history to chart this far back) against BTC. If history repeats itself, and they come down to meet my green arrow, it should offer an OTE on a wide array of altcoins....
ETC appears to have made an adam and Eve bottom and up into a bullish pennant with a bull div and descending volume pattern.
The measured move from the Adam bottom, the flat cloud, and 50% retrace from the all time high all point to a little over $16 as the classical target for this move before a correction.
For a safer entry, wait for a close above the cloud on volume.
I've marked bullish signals in green and more neutral ones in orange. There are some bearish things you could point out, but this method only considers the signals pictured.
As in my previous bitcoin ideas, the idea is to look for the best long entry over the next few hours. Breakouts from the cloud are usually followed by a period of consolidation before making...
$SANUSD has been bullish right out of the gate, and it's a project with a use that a lot of traders are interested in (providing market sentiment data for crypto) so I see it capturing a lot of people's imagination.
I'll be placing bids around the 4 hour 50 period moving average and the lower trendline. Roughly 41-43 cents a piece.
Currently compressed against support (with a possible bearflag in play) Remaining neutral for now until these bear indications are resolved.
For the risk-takers: There's a potential entry here (with the offset that you could have very good Risk/Reward with a tight stop)
For the cowardly lions: Wait for a break of the pennant upwards with strong volume and a test...
As crazy as it seems, recent price action suggests that the bulls aren't finished yet.
It's pretty typical for us to consolidate for a few bars after a big candle like this, so I'm scaling in my long over the next few hours.
The risk on this trade is definitely higher than the previous one. We're much further from support making a drop more likely, and meaning...
It's very possible that the BTC rally will negate this support region entirely. So I advise waiting for the result before going long/short.
As you can see, recent volatility has been throwing DASH outside of the support/resistance trendlines but it has been pulled back inside.
On a wider scale, it seems a lot of alts are finding support today. We should find out...