NOTE: The market pattern broke out since we shared in on market wrap but it broke out more for some coins than for others.
NXT was one of the big break outs (not shown) is just a beast and as we mentioned was strangely near all time highs while BTC was crashing — so if you’re going to trade in a bear wave – strength is what you’re looking for. Congrats to all subs who have been in the NXT trade IT/LT — All pattern targets have now been met — lock in more profit — but if you decide to hodl a position Check out the IGNIS twitter feed for more info on next week’s free token.
The other coins that are showing clean breakouts are more interesting than NXT from a market perspective — they are the small high risk altcoins — like our old friends DGB and SC plus some new players like XVG (that we’ll be adding to our charts we follow soon due to high volume)
The questions is
WHY are these altcoins breaking out to new recent highs while larger altcoins are still trying to recover from the crash of the last couple of days?
Better question is
HOW are all these altcoins making new all time highs (like NXT and XVG) or relative highs (Like DGB and SC) if we’re in an ABC correction and in sync as a market??
Something’s not right — you can consider it a bullish sign for the market that indicates new highs are coming for the large cryptos OR it could be a HUGE red flag we’re wrapping up WAVE 5 for the low value coins and another big move down is coming. Either way you can see the new whales and bots are making it as hard as possible to get a trading edge.
We think the best starting point to solve this mystery is to focus on BTC — it’s still the KING (until it’s not) and as of now BTC is in an ABC wave correction — and large altcoins appear to be following BTC’s trend direction (perhaps NXT is an outlier? XRP too? See what we mean – need to dig to find answers here!)
The one takeaway we can state with confidence is NOTHING went up when BTC was crashing — so that’s something we can build on–because if we still have a nasty wave C coming – we need to be prepared as it’s high prob again there will be no place to hide.
WHAT TO DO NOW
We have THE MARKET PATTERN for BTC and nearly every large altcoin (just see 30 minute chart). Most have barely broken out so that pattern is tradeable if you can be disciplined with a clear entry and exit strategy. Consider all trades moderate probability at best because we are in a BEARISH WAVE per BTC.
and we think this is the perfect time to:
PLEASE read (or reread) our post from November 20 where we covered everything we saw coming — most of which has happened exactly as patterns laid out — plus you’ll see a target for BTC that we haven’t forgotten about and hope you don’t either…. Password is Novisit
3 CHARTS — Traders gotta trade – -but BETTER be SAFE in current market especially!
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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