seekingprofits

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Long ETHUSD at current levels ($498) post the recent long consolidation. ETH has been a laggard recently due to multiple concerns. But I think the current setup presents an excellent risk:reward potential to get long. Would buy here, looking for a stop if the breakout at $500 fails, cutting the position at $450. But on the upside, would take half off at $560 and...

seekingprofits

Having been on the sidelines for a while now, I see a good risk:reward opportunity for a long in EOSBTC here. I am not saying that EOS has bottomed (because in reality you can only see a bottom in hindsight), but I think if you have been on the sidelines on this downmove, it's time to dip the toes back in. I would buy the breakout at 0.00137 from the basing...

seekingprofits Updated 

Would look to short ETHUSD at 640, the lower edge of a very large balance area and also the neckline of a H&S breakdown. Would look for a retracement back to 600. Also after such an aggressive move lower, I think a retracement is quite probable. About a 1:1 risk reward trade but high conviction. Will update if and when trade triggers.

seekingprofits Updated 

The whole crypto-space continues to fall with the recent Ether selloff bringing us under pressure again. However the recent move feels like capitulation selling, and Ripple has been holding relatively strong, so I think it's worth a counter-trend trade with half of your usual position. Getting long at 0.578, with an almost 1:1 risk:reward, looking for a move back...

seekingprofits Updated 

XRP along with the entire crypto-complex, remains in a downtrend. But we see an opportunity for a short-term counter-trend long here with a decent risk reward. Would look to get long at current levels (0.638), looking for a bounce to the PoC at 0.675 (with optionality of a move higher), while using 0.615 as stop, giving us a risk:reward of around 2x.

seekingprofits Updated 

ADA is one of those names with a very devoted following, and believers who think it may even overtake BTC. This could also potentially mean that it as loads of HODLers who are overly bullish but nursing big losses. Anyway, whether you are a believer or not, a tactical short is always worth a trade, especially if it presents a good risk:reward scenario like in...

seekingprofits

I have mentioned a few times that ETH is my favourite fundamental pick in the complex. I wouldn't pretend to know details about the technologies, but the resilience of ETHUSD in the latest selloff further boosts my conviction. Presenting some chart analysis here. There is a new significant zone emerging at the 735-740 level. I would stay flat below that level in...

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Another one where I had been waiting for a level. This one is high conviction, getting long at 680, with stop at 620 and target the last Point of Control of 755. Fundamentally also I believe Ether remains the most solid one among the majors, and would rebound the hardest when the crypto complex selloff stops. Would just like to mention that I am trying to keep...

seekingprofits Updated 

Getting long BTC as 8700 support levels as I had pointed out in previous idea. In terms of risk:reward this trade is about even, I am expecting a quick bounce to 9000 (would take profit just under that), while would stop at 8450. Would perhaps use half of my usual trade size on this one as it is bit of a falling knife in the whole crypto complex currently.

seekingprofits Updated 

After our recent short trade in ETH which worked really well, Ethereum has now found a new balance area with Point of Control around 755 levels. I still have a bullish bias ahead of Consensus next week, and would to get long either at the breakout of the H&S neckline (where we shorted for our last trade) which is 775, with a stop of 755, or preferably would like...

seekingprofits Updated 

I am a big believer in Auction Market Theory, and I think the balance area formed in Ripple over the last two weeks is the cleanest among the majors, and presents a very good risk:reward long opportunity. Upside exploration has failed and thus the price has returned to test the downside. There is a potential for the downside to crack, but in the process it sets up...

seekingprofits

Bitcoin remains in a consolidation pattern. Having failed to breakout, expect it to try lower edge of the consolidation. Would buy a test of lower level (8700) for a move back to the Point of Control (9250ish levels)

seekingprofits Updated 

Retest of the broken H&S (I tried posting that earlier but couldn't work it out!). Good risk:reward short back into the first volume cluster support near 720ish level. 800 a good stop level to use.