NOTE: Charts have extra notes above each one — please read them —
Yesterday’s price action went almost exactly how patterns indicated it would — the safe strategy was without a doubt to get defensive and protect your hard earned profits.
Some mixed signals emerged at the close yesterday (STR/XLM most notably) that COULD leave you on the sidelines for some big gains in your ST/IT positions that you moved to cash. On the other hand many other altcoins that were very bullish did not close bullish (XEM for example) so will STR/XLM’s pattern fail and down we go?
And what about BTC — see the chart below – -we’re still well in those channels — nothing is decided and trust us– it’s not because of Segwit of scaling issues for BTC — THEY are figuring out how to make the most money — and they plan to make it from YOU.
We’ll boil what is already a tl:dr post down to a few key takeaways
- There is ALWAYS a bullish AND bearish case – too many traders and sadly, gurus only want to focus on the bullish patterns and targets, or call for crashes. The current market keeps showing amazing patterns then more often than not disappointing. That means SOMETHING — and BTC’s holy grail pattern says it’s high prob it means something BIG – we need to prepare for anything and everything….
We say it often, but we can’t think of a time it’s been more important:
- There’s ALWAYS another bus to catch. The sidelines is a good place to THINK and PLAN — You got out of XRP yesterday? There’s a SAFE trade opportunity to get back in today. You passed on our high prob SC trade we shared (why?) — no worries — another bus is available.
- Focus on trading SAFELY and profitably instead of trying to make every dollar you possibly can and you have a real shot at long term success investing/trading.
6 CHARTS – could show 100 today each with a story to tell — but these are good focal points no matter what you’re trading/investing
BTC chart from yesterday–still valid–will only add closed higher with higher volume so today is follow through day and close could be important–we’ll update of course….
NOTE: XRP chart from yesterday — reread that note–the green close 2 days ago with high volume adds to the bullish case and when added to the STR/XLM chart gives a SLIGHT edge to bulls–at least for XRP and STR
NOTE: we thought about showing LTC chart as price broke out of bullish flag pattern twice with target 315 range –but it pulled back both times = means SOMETHING that’s worth remembering for all large altcoins – meanwhile ZEC just keeps grinding upward…..
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