BTC XBT ETH crypto market early updates June 20 2018 10:00 AM EST

NOTE: Patterns shared over the last several day’s updates are all on track and still in play.

Now we have BTC recovering well from spike down right after close yesterday on what looks like it will be higher volume on XBT so close today could be a strong indicator BTC is ready to test key $7250 range.

Reread that — BTC is ready to move up.   Altcoins have not proven they are going to move with BTC yet and that’s a major red flag.

Hopefully we’re just paranoid (as all good SAFE traders should be) and altcoins explode higher — as the ETH chart we prepared yesterday shows — ETH and other key altcoins were a good tell that the move down for BTC was a headfake ($6450 key level was also helpful to “stay in the trade” or add).

But as the biggest gain chart below shows — the major altcoins are nowhere to be seen vs BTC so far today — If you’re new to crypto — just know

BTC UP ALTCOINS DOWN has happened before — and it can be deadly and we need to stay alert for it.

We’ll be watching and updating as needed.

3 CHARTS — ALTCOINS GETTING HAMMERED VS BTC?

large altcoins 6 20 earlyeth market wrap 6 19

showing yesterday’s XBT chart for reference — looking like strong reversal with volume so far today but of course CLOSE IS WHAT MATTERS.

xbt early 6 19

 

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.

ETH Ethereum Real Time Update 6 18 12:55 PM EST

NOTE:  As indicated in early updates, the bullish signs were growing and the bears were running out of timne. Now we have a strong move up for BTC and XBT with high volume.  We’ve been watching ETHUSD for some time and this could be the payoff — ETHUSD indicates this move is has the potential to be a high prob “real” move as chart below details.

Rest of large crypto market moved up with BTC and ETH — so SAFE trade strategy can be adapted to charts you feel are most bullish — be sure to honor stops on ST trades– if this fails we’ll again be at risk of new 2018 lows…

Don’t get too bullish as little has worked for bulls lately —  BUT– there is a ST SAFE trade opportunity if it fits your trading strategy

eth real time udpate 6 18

 

 

 

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.

BTC XBT ETH crypto market early updates June 18, 2018 10:20 AM EST

NOTE:  For a market that continues to move in sync, we now have a set up where BTC and the largest altcoin ETH are now sending the same message — As the charts below show that message is

EDGE TO BEARS

That’s what the probabilities say but we say “prove it”.  Why?

Here are a few additional points to consider:

  1. The entire move down from 10,000 is on low relative volume — not exactly BTC hodlers “rushing for the exits” which is what BTC’s volume pattern has looked like in prior crashes.  That could change with a drop below the key $5000 level, but so far we’ve traded between $6000 and $10000 for months…
  2. The current pattern (pennant) is called a “continuation pattern”.  The highest prob path is to confirm quickly.  As of now we’re just seeing a tighter and tighter pennant (triangle) form.  If bears are still in control, they should take this down with volume soon.
  3. Indicators are starting to favor the bulls –– bears are running out of TIME — this would mean at least a bounce with a high prob test of $7250 if bears can’t tank the market.

AND PERHAPS MOST IMPORTANTLY — A NEW CONSIDERATION

4.  SUMMER TRADING   If we’re seeing wall street and hedge fund trading patterns entering the crypto market (XBT futures say we are), the summer trading pattern is generally much lower volume with a lot of headfakes and very little real movememt over time.    September and particularly OCTOBER are the months where volume and REAL big moves resume.

Guess THEY like to take the kids out in their yachts and lambos during summer break….

It’s too early to tell if “summer trading patterns” are what’s going in crypto right now but at least keep it in mind because they can take price all over the place at any time.  Even moves breaking key levels doesn’t necessarily mean they’re confirmed tradeable moves.

2 CHARTS — THE BIG 2 SAY BEARS HAVE THE BALL – BUT TIME RUNNING OUT

NOTE:  We reviewed the XBT futures chart and it currently does not add anything new to the following update — of course we’ll keep watching…..

btc early 6 18eth early 6 18

 

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.

BTC EOS ETH crypto market early updates June 16, 2018 9:30 AM EST

NOTE:  XBT closed with the bearish “higher high” reversal pattern which usually brings more downside — however XBT will not trade for the next 2 days.

Meanwhile ETH’s clock continues to tick as we’re now on day 4 of a reversal pattern which is the highest prob day for a move up to test the moving averages.

We show yesterday’s charts again as they are all still very much in play including trading and stop ranges.

We add EOS’ chart to show that key altcoin is now near key levels as well and high prob will be an indicator for the broader altcoin market.

As noted yesterday, even if we take the bearish path here and drop down to test the 2018 lows for BTC, probabiliteis say it’s an IT/LT opportunity to scale in SLOWLY as it’s high prob (not guaranteed but high prob!)  we’ll see the $7250 level again and possibly much higher at some point in the intermediate term

eth early 6 15xbt early june 15btc real time 6 14eos early 6 16

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.

BTC XBT ETH crypto market early updates June 15, 2018 9:30 EST

NOTE:  The line in the sand continues to be $6450 BTC.    We broke it 2 days ago but recovered with a solid up day yesterday (could not “follow through” with lower prices).

Now we have a chance for a BULLISH follow through which would high prob lead to a test of key $7250 level, but if we close below $6450 the edge returns to the bears as they get the ball back for another chance to follow through and test the 2018 lows.

CURRENT MARKET CONDITIONS

Charts below show the current set up for both BTC and altcoins (ETH chart good representation).

2 CHARTS — TUG OF WAR

TAKEAWAYS:

ST NO TRADING EDGE

IT SLIGHT EDGE TO BULLS (would only use SCALING trades as prices can go much lower

LT EDGE TO BULLS

NOTE:  BTC chart (not shown) same set up as XBT daily chart shown here.

xbt early june 15

eth early 6 15

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.

BTC EOS ETH ENG crypto market wrap Vol 14 Issue 3 June 13, 2015 9:20 PM EST

NOTE:  Early updates covered the keys that are still very much in play.  We have also had special requests today some of which are also worth reviewing so we’ll share those with our loyal subs in tonight’s market wrap

any other questions or requests write us at cryptopatterns@gmail.com — we’re here to help keep you SAFE and profitable (remember real world returns are measured in YEARLY RETURNS not weekly!!)

We’ve added a couple of notes above some charts so be sure to check them out.

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NOTE: Watch if ENG can continue to climb if BTC or ETH falls — that rarely happens

NOTE 2: EOS has same set up as ENG so watch that too!

eng special 6 13

NOTE:  ETH is also now on day 2 of a bearish higher high reveral pattern that can drop for 2-6 days before moving up to test the moving averages.

eth market wrap 6 13

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.

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.

BTC XBT ETH LTC ZEC crypto market early updates May 23, 2018 9:45 AM EST

NOTE:   Overall trade strategy that can be considered in btc and altcoin trades noted on XBT chart — see that below.

Patterns have been on target with market action indicating if XBT gap filled we’d see prices <$8000.  Now over the next two days we’re going to see just how serious they are about tanking this market to retest the lows.  As we’ve shared there is little price/volume support under $8000 down to $7250 range AND the smaller bearish pattern we shared last week (see charts below) is breaking down– we’re not seeing the flush you’d expect YET….

What we’re watching:

  • See notes on charts for BTC XBT indicators
  • ETH (older chart shown for reference)- There were indicators that $600 was a key price level that needed to be retested — we’re getting close.
  • ZEC (yesterday’s chart shown for reference – Hodling up suprisingly well — edge to BEARS increase if ZEC drops and especially closes under $300.
  • LTC crash lows at $100 range and XMR lows at $150 range — as noted multiple times these two are the only 2 large altcoins whose lows were never retested.

We’re back to a good time to have plenty of cash available to stay safe and to take advantage of buying opportunities — but we wouldn’t rush into anything here.

MULTIPLE CHARTS — BIG MOVES IN PROGRESS — HAVE A CLEAR TRADING PLAN!

yesterday’s btc and xbt chart shown below again for reference

btc early 5 23

xbt 5 23 early

btc 5 22 early

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eth marekt wrap 5 19

LTC early 5 23zec early 5 22

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 EOS ETH ZEC crypto market wrap Vol 13 issue 10 May 19, 2018 10:25 PM EST

NOTE:  We could share many charts that show the same pattern as of today’s close, specifically a bearish higher high reversal pattern that usually means more downside.  Considering today’s reversal happened one day after many large cryptos (BTC, ZEC and others) had a bullish reversal pattern today’s price action shows:

MIXED SIGNALS AND NO TRADING EDGE SHORT TERM

But the more important takeaway is we really can’t put too much faith in day to day patterns and indicators at this phase of the wave cycle.  We need to respect that the market continues to do all it can to shake out both bulls and bears before the next big move.

MORE IMPORTANT PATTERNS AND INDICATORS

So short term trading is basically gambling at this time and that needs to be factored in your trading strategies.  IT and LT are a different story but as the charts below show, we could see BIG MOVES either way before the market shows a real sustained move.

That said, based on many longer term patterns and indicators and understanding this can change once real moves start — we stand behind our prior updates that probabilities say:

IT and LT Edge is to the BULLS

However, for now, until we see a clear, confirmed breakout or breakdown, trade strategies need to consider much wider price ranges and tighter trailing stops and profit taking.

4 CHARTS — TIME IS NOW THE FOCUS

NOTE:  Best not to front run these patterns — some of these patterns could still take more time to fully form (restest, etc).  However, most are far enough along to have a BIG move at any time so have a clearly defined plan!

btc market wrap 5 18

ADDITIONAL NOTES ON ETH CHART :

  1. Patterns are more clear on the USD charts — ETH and other altcoins vs BTC are similar overall
  2. Other example altcoins with similar chart to ETH include: BCH, STR (XLM), DASH, LTC and multiple others.  Study individual charts to firm up your trade strategy but be sure to watch to see if all break down or create pattern failure together.

eth marekt wrap 5 19

NOTE: EOS and ZEC have more bullish charts than most altcoins and therefore add to the bullish case overall but BTC and ETH still support no trading edge short term.

eos 5 19 market wrap

zec market wrap 5 18

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 ETH RLC crypto market early updates May 17, 2018 10:25 AM EST

NOTE:  BTC and XBT both closed below key price level $8400 yesterday with higher volume and with moving averages about to cross bearish.  That’s a pretty strong bearish set up, but price could not break $8000 yesterday and volume has been dropping overall for BTC and key altcoins the last few days so that suggests we are CONSOLIDATING before a new directional move.

This leaves a very unclear short term set up with

NO TRADING EDGE SHORT TERM.

That could become at least slight edge to bears or worse depending on how price closes today as it would be a “confirmation day” if we close under $8400–especially if higher volume.  So far today we’ve actually seen a little strength but the bullish case wants to see price breaking UP over $8400 with higher volume.

As the charts below show there are multiple bullish signs that will help us with IT/LT trading strategy moving forward, but for today defensive trading is still highest prob and unless some new divergences show up in the altcoin market we’re not seeing now there’s one key that is most important

How BTC closes today = $8400 is the line in the sand.

4 CHARTS — STILL ON “BIG MOVE WATCH”

xbt early 5 17

NOTE — the next 2 charts are both ETHBTC from different exchanges:

 

ethbtc 5 17ethbtc coinbase early 5 17

The following chart is for small altcoin RLC (also traded on Bittrex)

rlc early 5 17

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.