BTC XBT BCH ETH LTC XRP crypto market early updates June 13, 2018

NOTE: tl:dr  $6450 on Coinbase is a KEY level — was the EXACT low of key support level and the EXACT low that we hit yesterday.  We broke it today which puts us in “no man’s land” of potential BIG MOVES either way (edge to bears and lower prices) but CLOSE IS WHAT MATTERS and closing above $6450 is very important ST and possibly IT.

We strongly recommend reading and reviewed many charts below to see current set ups.

As we noted in red yesterday:

Also note bull case needs to see price above $7000 (ideally $7250) today or probabilities become high prob for bears and stops should be tightend or ST/IT positions should be reduced/scaled out.

It was obvious by midday there was little chance of regaining $7000 level which then got confirmed by a harsh drop below the very short term support at $6600 level.  Price then dropped EXACTLY to the critical support level of $6450 but did not break it as of close yesterday (closed at $6545 on coinbase).

CURRENT MARKET CONDITIONS

We’re at very key levels that could lead to BIG MOVES and the charts below show just have far BTC and some altcoins could still drop — ST/IT positions should have VERY tight stops (see yesterday’s post) or be in fiat.  

BTC has broken the $6450 level today but CLOSE IS WHAT MATTERS, and $6450 is now the new “line in the sand” which stand between at least a bounce or a continued “crash” and high prob test of the current lows $5800 level.

BOUNCE COMING SOON?  XBT CHARTS SAY YES

NOTE: more charts below these two — be sure you review them all.

Charts say yes but’ve told you before that CRASHES also occur in very oversold conditions so this is not a time to “go all in” waiting for a bounce — closing below the $6450 level would be a huge red flag that we don’t want to front run this “potential bounce”

xbt daily early 6 14xbt weekly early 6 14

 

WEEKLY CHARTS PRICED IN USD OFFER HELPFUL TARGETS AND GUIDANCE

When we have entire market dropping hard with BTC it can be helpful to review patterns vs a more stable currency to see what patterns can share.

First we reprint from our June Chartbook the weekly analysis for BTC  (click on LONG TERM link at right to study our chartbook!) — this is why it’s SO important to understand their’s ALWAYS a bullish and bearish case and you want to carefully assess the probabilities and build a SAFE trading strategy.

btc weekly update 6 14

bch weekly early 6 14

ethweekly 6 14ltc usd weekly 6 14xrp usdt weekly 6 14

 

 

This site is for informational 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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BTC BCH XBT crypto market early updates June 7, 2018 9:15 AM EST

NOTE:   Keeping early post short because subs will be seeing a 2nd post in the next hour or two with

CRYPTOPATTERNS JUNE CHARTBOOK

LONG TERM OUTLOOK FOR THE CRYPTO MARKET

This report features updates on BTC and the TOP 9 market cap altcoins plus 2 altcoins “we’re watching”.  We plan to make the Cryptopatterns Chartbook a regular feature of our newsletter so we sincerely hope you find the information useful (speaking personally we do!).

CURRENT MARKET CONDITIONS

Two things we’re watching in today’s price action:

  1. BITCOIN and XBT FUTURES (chart below): 

Price has moved up from the key $7250 level and is showing bullish signs.

 2. ALTCOINS NOT SHOWING RELATIVE STRENGTH TO BTC VERY SHORT TERM

We’re not seeing ST bullish altcoins like BCH (chart from earlier this week shown again for reference) moving up with strength compared to BTC — they don’t need to move up more than BTC every day — the patterns and targets are what matters but BTC UP ALTCOINS UP is a key relationship and we’re always watching for market changes so let’s see if altcoins can match BTC (if BTC moves up) by the close today.

2 CHARTS — USING THE XBT GAPS TO GUAGE MARKET MOMENTUM

xbt early 6 7

 

bch video 6 5

 

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

BTC BCH crypto market early updates June 6, 2018 8:50 AM EST

NOTE:  LONG TERM CHART UPDATE — WILL BE POSTING TODAY OR TOMORROW – hope you find it helpful.

CURRENT MARKET CONDITIONS — PLEASE READ

Most traders don’t realize what a big deal yesterday was, at least according to patterns.

Patterns say if we had not seen the bullish reversal pattern we called for yesterday, it would have become HIGH PROB we break $7250 and mod to high prob we test (and break) the current lows at $6000 range.

Not out of the woods just yet

Today is “follow through” day where bull path calls for higher prices and ideally higher volume — if either or both fail, that will end the edge for bulls at least ST and put $7250 and lower prices back in play.

As we said yesterday – This is where the money is made (or lost)

But it’s not all bearish — in fact the clear set up offers some excellent SAFE trade opportunities with significant upside– but you must be ready to exit those trades if stop ranges are hit in order to STAY SAFE — definitely not a time to be flexible.

Tons of charts and set ups in recent prior posts — check them out

2 CHARTS — FOLLOW THROUGH DAY?

NOTE: We’re showing set up for BTCBCH from yesterday’s chart — closed higher with HIGHER volume (note BTC closed with lower vol) = bullish set up on track so far for BCH, BTC mixed signals….

btc early 6 6

bch video 6 5

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

BTC ADA BCH XRP IOTA DCR crypto market wrap vol 14 issue 1 June 3, 2018 11:59 AM EST

NOTE:  The slow grinding short term bullish trend continued today and all patterns/trade strategies shared in prior posts are still in play.  We’re sharing a number of charts we haven’t covered recently in this post (and will follow up with more tomorrow like ETH, DASH, NEO and  XMR) to help offer an even broader picture of the crypto market that supports the current set up which is

SLIGHT EDGE TO BULLS

Why only a slight edge?   Here’s a couple of takeaways that help explain:

  1. Strong bull waves don’t like to wait around for everyone to join in and make money and this market is moving WAY slower than typical bull waves (with a few exceptions –see BCH chart below).
  2. Volumes are very low and we’re seeing almost NO “moon shots” or even pump and dump type bull moves — those usually happen even if BTC goes DOWN, so this is a red flag to get a bit more defensive.

Charts show a lot more details– We think DCR is especially interesting and worth watching as it’s still under the radar but has a very strong set up for a HUGE MOVE that for some reason simply is not happening…YET (which we think could also be true for the entire market)

Bottom line is there will be higher probability set ups for entering trades so review your positions and be sure you have 100% confidence in each position or adjust it and have ONLY CLEARLY DEFINED SAFE TRADES IN PLACE.

MULTIPLE CHARTS — GRINDING OR COILING?

NOTE: Gaps tend to get filled and now XBT has gaps above AND below current price — keep that in mind in all ST trade strategies.  XBT chart from Friday shown for refernces 1st:

If you have any altcoins you want to see updated please write us at cryptopatterns@gmail.com and we’ll try to include as soon as possible.

xbt 5 31 market wrap

Showing all charts vs BTC as market continues to move with BTC and we want to see which altcoins have highest prob of outperforming BTC….

adabtc market wrap 6 3

BCH

bchbtc market wrap 6 3

BTCUSD

btc market wrap 6 3

DCR Decred

dcr market wrap 6 3

IOTA – note this was special request chart from earlier- has similar set up to BCH but dropped today–pattern still valid as we post this:

IOTA LT review 6 3

XRP

xrpbtc market wrap 6 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

BTC XBT BCH ZEC crypto market wrap Vol 13 issue 9 May 15, 2018 12:45 PM EST

NOTE:  ZEC has a very bullish chart at the moment.  Unless we see some sort of a huge volume crash (low to mod prob) ZEC is high prob to retest the current highs and the pattern targets are of course much higher.

So ZEC leads us to the following question — Is ZEC going to move higher while BTC and the rest of the crypto market tanks?  While there is very good news for ZEC, a big move up without BTC moving up as well would be unprecedented (at least for last 2 years).

On the other hand, they can crash the entire market to new lows INCLUDING ZEC and BTC — that we’ve seen before!

We think ZEC and BTC are good market indicators — the charts below show a few more.

GENERAL TRADE STRATEGY NOTES (also see yesterday’s post as BTC $8400 level still very much in play):

1.While they can take price wherever they want at any time — we’re staying with IT edge to bulls but the lack of follow through leaves ST slight edge to bears = STAY CAUTIOUS AND DEFENSIVE is highest prob for safety and profitability ST — there will be time to get aggressive when better pattern set ups emerge.

2. We scanned the smaller altcoin market cryptos that had very bullish charts — most are pulling back and threatening bearish moving average crosses — GNT, OX and DGB are examples.  We think the charts below mean more to the market than the small altcoins but we’re watching and will post updates as patterns emerge.

3. We’ve shared stop levels in prior posts and also encouraged trailing stops or taking some profits — NOTHING is going up and staying up– until it does — and we can’t just guess when they will be and trade safely.

3 CHARTS  – BCH ADDED TO “WATCH LIST”

BTC chart not show but if we close above yesterday’s low that would be a bullish lower low reversal pattern = more upside likely.  Same set up here for XBT but don’t rush to add to long BTC positions — plenty of bearish signs at the moment….

xbt market wrap 5 15ZEC market wrap 5 15bchbtc market wrap 5 15

 

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.

BTC XBT BCH ETH EOS crypto market wrap Vol 13 Issue 6 May 10, 2018 9:50 PM EST

NOTE:  After a bullish start to the trading day, things turned down sharply which fits perfectly with the XBT chart 1 hour pattern “retest” of the right shoulder we mentioned yesterday.

Now we’re right at breakdown levels with targets $8000 – $8400 — however, once again we seem to be stalled at $9000 as we post this market wrap.

Looking at the Altcoin Market, many of them (larger and smaller) are dropping more rapidly than BTC — but that’s not necessarily a sign we’re heading much lower.  Some altcoins are looking pretty darn strong (EOS chart shown below and ZRX to name 2) and ETH and BCH are hodling up very well given where they were a month ago.  Don’t forget in general most altcoins moved up much faster than BTC over the last month.

The bottom line is EVERYTHING IS MOVING SAME DIRECTION AS BITCOIN (with rare exceptions of course–but overall that correlation is still very much in tact).

TRADE STRATEGY

It’s clear we’re in a “shakeout” pattern which means don’t expect “moonshots” for your ST/IT positions.  Trailing stops should be in place and honored (or take some profits!) — taking a small loss once in a while is good for LT trading success -honor your clearly defined trading plans!!

  Further,  we indicated multiple times to be VERY picky about which altcoins you choose to trade,  as some are performing far more bullishly than others.  We have many charts to study in prior posts — if you have questions feel free to write us at cryptopatterns@gmail.com

For now, we’ll update the big 4 and you  can clearly see the set up that could result in a BIG move in the next couple of days.

THE BIG 4 – CHECK THESE CHARTS AGAINST ALTCOINS YOU’RE TRADING AND BE SURE YOU HAVE A STRONG BULLISH CASE FOR ANYTHING YOU’RE HODLING.  (Can always reenter when more bullish!)

NOTE:  Current ST pattern from yesterday shown first for XBT – then updated daily chart with current set up.

ALSO– There are some SMALL differences in the charts so far in today’s trading between poloniex and coinbase — we don’t think they are significant enough to change the probabilities shown below but we’ll update tomorrow if that divergence seems to mean something important.

xbt 1 hour 5 9xbt 5 10 market wrapethbtc 5 10 market wrapEOSbtc 5 10bch 5 10 market wrap

 

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.

BTC XBT BCH ETH EOS crypto market wrap Issue 13 Vol 5 May 7, 2018 9:20 PM EST

NOTE:  There are mixed signals between BTC and key altcoins at the close today — that means SOMETHING and we don’t think it will take long to find out what.

ALSO– SEE END OF POST FOR A COUPLE OF SPECIAL REQUEST BONUS CHARTS FOR ZRX AND VEN

We’ve updated the charts for THE BIG 4 (including the XBT futures) so you have the current scorecard (other large altcoins were mixed and offered nothing we think that creates a strong market indicator ).

We think patience and firming up your defined trading plans is the highest prob trade strategy at the moment.

BOTTOM LINE: We stand by our prior post — We’re in a bullish wave, until we’re not, and there’s not a strong enough case to give the bears the trading edge — YET.

8 CHARTS — BTC AND KEY ALTCOINS DIVERGE — WILL IT LAST??HISTORY SAYS NO BUT PATTERNS DO CHANGE….

btc market wrap 5 7xbt market wrap 5 7

xbt real time 9 6

BCH market wrap 5 7ETHBTC 5 7eosbtc 5 7zrx early 5 7ven early 5 7

 

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.