BTC XBT ETH GNT XRP LTC crypto market early updates May 3, 2018

NOTE:  We’ve noted there have been many bullish set ups (including BTC and ETH most notably) and now we’re seeing breakouts of bullish patterns for both large and smaller cryptos.

Is this the beginning of a BIG MOVE to the upside?  There are multiple indicators that say YES — however, we have an important test coming that is most clearly shown on the XBT futures which should resolve over the next 2-3 days when the current “lower low reversal” pattern will move down to test the moving averages, OR that pattern may fail which often leads to BIG moves to the upside (like to the $12000 target maybe?)

WHAT ABOUT ALTCOINS?

We have nailed multiple HUGE moves in the altcoin market but there have been a few very notable laggards — we think if we’re off to the races coins like LTC and XRP should not be left behind — so watch the charts below.

ST TRADE STRATEGY

We have strong moves up with high volume — we should see green closes if this is truly a bullish move (doesn’t mean there won’t be huge swings intraday!).  This offers an opportunity to enter SAFE ST trades during the day and simply exiting those trades if we close red.  A few examples of set ups where this COULD make sense are ETH, ZEC and BTC–there are MANY others — STUDY — write us with questions at cryptopatterns@gmail.com.  That said

WARNING — we could easily turn red after the close today so trailing stops after a green close AND/OR taking profits if we move up MUST be used to stay safe with this strategy.  DO NOT PLAY GAMES HERE — GREAT UPSIDE BUT ALSO GREAT DOWNSIDE IF YOU DON’T STAY SAFE AND DEFINE YOUR RISK!!

MULTIPLE CHARTS — BREAKOUT OR FAKEOUT?  VOLUME (usually) DOESN’T LIE

xbt early 5 3

We’ve shared multiple bullish charts for ETH — this was a special request chart yesterday with the latest ST indicators

eth usd 5 2

We shared this GNT chart weeks ago — hope you kept it in mind!

gntbtc market wrap 4 10

 

ltc early 5 3xrp early 5 3

 

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) 2018 JBP cons, inc.  All rights reserved.

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