cryptopatterns Market Wrap
July 27, 2017 9:30 PM EST Vol 2 issue 25
The USDT crypto market is staying in a fairly tight range as we head towards the BTC hard fork. It’s worth noting that multiple patterns and indicators are “coiling” in a way that usually occurs before extreme volatility and big price moves — so please STAY SAFE.
The big development today is BTC decide to move up towards “The Tell Rally Pt 2” target we’ve been calling for for days of $2800+. An equally big development is almost no other cryptos are reacting to BTC’s move up — there is a high probability that means SOMETHING. We need to focus on patterns, indicators and other clues to see if we can find an edge in our trading.
We mentioned in Early Update that a possible path is BTC >$2800 then back down to test $2300 — and so far that looks like what is happening – but charts show other helpful info and analysis.
FINAL NOTE: Please stay connected to your positions and our updates over the next week — you may have to react to execute your trading plan very quickly.
3 CHARTS – BTC SENDS A MESSAGE — BUT WHAT DOES IT SAY?
added early update BTC chart below update for reference
TRADING STRATEGY
Clearly defined stop loss trades are ok FOR EXPERIENCE PROVEN TRADERS and/or if are willing to accept the risk that you must honor the stop loss (NOTE: stops always important but sometimes you can be a bit flexible like in Bullish Wave 3 and you’re trading with the trend — we are NOT in bullish Wave 3!)–
otherwise scaling in and out is still highest prob for profit.
We STILL need to update our low end target chart (below)– but until further notice we continue in a BEARISH WAVE so assess your risk accordingly…
See prior Market wraps and Early updates for other key targets and information (see categories to find these)
REMINDER
- The DOWNSIDE targets that are absolutely the most important to your trading (scaling in) decisions now are:
- LTC $30.70XXX Gap fill
- BTC 1500 then 1250
- ETH $100 crash low
There are other targets and all are noted on the chart below –but if we get close to these — must trade assuming we’ll hit and break them given current bearish pattern.
Step by step how to “Scale” into cryptocurrency trades for long-term success
We’ll update as patterns emerge but if you have questions or want any clarification email us at:
cryptopatterns@gmail.com
STAY SAFE — TAKE ACTION WHEN YOUR PLAN SAYS TO ACT — AND STAY IN THE GAME LONG TERM.
This site is for educational and entertainment purposes only and not in any way intended to be investment or trading advice. You are 100% responsible for your financial decisions at all times. It is highly recommended you DO NOT make any investment or trading decisions depending upon what you read on this blog/newsletter! All information presented (c) 2017 JBP cons, inc. All rights reserved.
cryptopatterns 