While all the hubbub is about Bitcoin Cash being added to Coinbase... Bitcoin Gold shows off a clean chart pattern here. This is of interest because it's now the most profitable coin to mine for regular GPUs (Equihash). I can't say anything about its long term future, but that's not a big concern to miners who can trade it quickly.
I traded some profit off this a few days ago, and thought it was quite overbought. Well, welcome to the crypto circus where everything stays overbought. HODL is certainly a valid tactic, but a well-timed entry can save a lot of grief. Every chart is different and I'm trying to gain a feel for these markets, which are so different from the regular markets.
IOTETH here could pop. I've done fairly well sitting in ETH and trading Cardano (ADABTC) - Oversold. - 5-day base offers a risk management stop. - News out this morning that Bosch will or already has made "significant" purchase of IOTA coins. - Still early morning, volume just barely started to come in, could run for the day. Took profits on Ripple, moved 50%...
IOTBTC has finally reached an oversold RSI on the 4h chart. The correction is 58% so far, a pretty good one. In addition, IOTETH looks like it's established a small base, with a MACD crossover and an inverse H&S if you're generous. Could the selling be exhausted? Hard to tell, the whole crypto space is quiet all day. It's also about to recover $4, an...
Crypto is an insane casino and I can't recommend it for any sane person. I've been lucky enough to do well trading for the time being. I caught the triple on Litecoin by sheer luck (was planning to buy something else, LTC took a week for Coinbase to release). Anyway, I got a good entry in EOSETH, riding it for now. The technology is very promising similar to...
The RSI has remained above 50 during this consolidation. Fractal energy is recharged. Price remains near the top of the consolidation rectangle, as previously. It's hard to get any objective reads in the crypto market, but this one looks good. Stop can be placed below the 50ma on the 4h chart. Or, you know, HODL!
This gold miner stands out as one that has not "sold off" during this recent Gold decline. It could be shaping up nicely as a longer term hold. Logical stop would be below the trendline, or 10% from here. With the new weakness in the dollar and yesterday's pop in Gold, prospects look good.
- Room to run on RSI, Stoch - Fractal energy recharged - Breaking out of bull flag - Very bullish sector (Marijuana) MACD yet to cross over, I could be early. Stop below 10ma.
They've taken a beating and I've been watching quietly. Today is a swing on Fed day, and could lead to a new DC if not an IC. Buying AG, NSRPF, and a handful of JNUG. Close stops, the metal markets are devious.
Looks like an inverse H&S in the very bullish Marijuana sector. Close stop at 10ma or looser stop below neckline.
Oil chart: - Overdue for an IC decline - Slight divergence on MACD and RSI - Small Head & Shoulders on the daily - Fractal Energy fully charged on Daily & Weekly Most importantly, stops are nearby that reduce risk. Buying DRIP here with a $0.60 stop loss. Tight. I don't fuck around with 3x etfs much.
I have been stalking the downtrend line on IOTBTC. Planned to buy a break of it, so here we are. The pop was also somewhat predictable on other charts: IOTETH: IOTUSD: Figures that it would pop when I have to sleep. Very bullish daily chart, amazing technology. I'm back aboard, all I can say is HODL. Let's see what the Microsoft conference today brings.
The Marijuana sector continues to be on fire. OGRMF is also looking to breakout, but from a much larger pattern. Tight stop, 10% of position.
I jumped into IOTA upon learning about the technology. I've taken the gains there and retreated to Bitcoin for the time being, to let IOTA cool off. With futures trading opening positively, I believe the Bitcoin run will continue. I'm watching IOTBTC for a signal to get back into IOTA. Interesting read: heads of Deutsche Bank confirm that IOTA solves issues...
Canopy is the largest MJ company in Canada. The chart is nice, it might break out here. Stop under 10ma.
IOTA is a revolutionary cryptocurrency. Compared to Bitcoin, IOTA is an iPhone X and bitcoin is a landline. Buy and hold this one, folks.
SN is leaving a little basing area. The energy has built up and a rally could be forthcoming. This is in line with the recent breakout by Oil. Risk remains that Oil is overbought, and this could do a backtest of today's breakout. Either way, taking a small position here.