BTC DASH crypto market wrap Vol 7 Issue 2 12 3 17 10:45 PM EST

NOTE: Travelling with different computer so charting is sketchy but wanted to get update to subs and guest to keep you on top of patterns and indicators.

DASH continues to be the chart to watch so we’ve tried our best to update it below — however here are some other highlights you can check out on the charts based on our review of the current situation.

BTC’s and BCH’s  nice recovery from lows today keep the bullish case in play -we shared yesterday that flag and pennant patterns can drop quite a bit and still be valid — now if we don’t see action to the upside in next 24 hours—different story…. Also means SOMETHING that BTC and BCH are moving together….could be very bullish or red flag — next day or two plus watching DASH will help determine which….

REP — apparently didn’t like our comment about being strange from early updates — now has very bullish pattern along with POSSIBLE wave pattern showing targets much higher — for now if your research supports the bullish case for REP highest prob is scale in SLOWLY as REP has a lot of work to do to prove it’s breaking out –especially REP vs BTC

—-Other large altcoins had lower low reversals today –– strongest would be ETC but also seen on ZEC and as mentioned DASH — not same pattern on other altcoins so that only slight edge to bulls for continued upside prices confirming  this pattern, but still moderate to high prob of test of moving averages for many cryptos in near future (1-6 days).  Would be nice to see these coins move up with high volume to support bullish case today.

MODERATE SIZE CRYPTOS that trade on the BTC exchange showing POTENTIAL bullish patterns — Best examples here are OMG STRAT and VTC (THE WIDOWMAKER –careful!!)–none of these patterns are high prob trades at this time…. same for:

SMALL CRYPTOS WAKING UP — We see bullish patterns beginning to emerge in old favorites DGB and SC (where patterns called a 500% move back in the day)

Add to the last two comments that ARDR closed with an edge for bulls and there are

THREE POSSIBLE PATHS FOR NEXT BIG MOVE we’re assessing the probabilities:

  1. A ROTATION for large altcoins over to the BTC based smaller and moderate size coins that have been destroyed over the last 2-3 months
  2. An explosive move in the entire crypto market –setting up the likely upcoming correction
  3. A complete headfake and just take the market down from current levels sooner rather than later.

TRADE STRATEGY IDEAS –as of right now still SLIGHT EDGE TO BULLS

Watch the clearly defined stop range on DASH (as well as ETC) closely = yesterday’s low  should be a good indicator for BTC and large altcoin market based on recent price action.

The 3 keys to trading in this market of course still apply — see today’s early update if you need a refresher….

For now, on the mid and small cap cryptos – we think the highest prob trade strategy is to find the coins you have the most confidence in and scale in a VERY SMALL position and add very slowly if you see prices drop — consider it an IT/LT position and be prepared to use a wide stop range which could mean you are willing to lose 30-70% of the funds invested (when we say small position we mean it)

There is so much upside in some of these altcoins that a small position can produce great returns if it explodes right now — AND you can always add on the way up — NXT showed a great example of how that could work over the last 2 days.

This is simply not the time in the wave cycle that you want to be fully invested — so error to smaller vs larger positions — Or you could play it really SAFE and not front run the emerging bullish patterns on these smaller cryptos as there is plenty of upside if they breakout and confirm — so you could add as a “momentum trade”

More charts soon — meanwhile do your own study and watch for BIG MOVES — as today proved, in current conditions then can and do come at ANY time.

dash12317

 

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.

 

 

 

 

should be able to improve charting soon but meantime any questions write us at

 

 

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.

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