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:
- 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).
- 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 firstname.lastname@example.org and we’ll try to include as soon as possible.
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….
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:
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