BTC Bitcoin Real Time Update June 14, 2018 1:35 PM EST

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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.

btc video 6 13

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 EOS ONT early updates June 12, 2018 9:20 AM EST

NOTE:  Price action still supports a focus on BTC as market continues to move in response to BTC.

Short Term/ Intermediate Term trading – Sidelines is a fine place to be but the fact remains there are very clearly defines stop ranges that can be used as entries with very low risk — just know the probabiltiies for any ST/IT trade are moderate probability at best.  Chart below shows VERY current set up.

Long Term — We still have weekly futures chart at bottom of oversold channel — this will move up at some point and is support for AT LEAST the LT bullish case for BTC.

OTHER FACTORS (not as important as BTC chart)

MAJOR ALTCOINS — Moving with BTC though EOS continues to hodl bullish pattern shown yesterday — if that breaks down and closes under $10 range = fiat for EOS and likely altcoin market ST and possibly IT is safest place to be until we see a new bullish set up.

NEWER ALTCOINS — In response to a special chart request, we show the chart basics of ONT below which is a recent ICO through the NEO platform and has had a very bullish chart (different from most large altcoins) —  as you can see there are a number of red flags that say ONT can be traded safely using the channel shown, but highest prob would be to wait for a confirmed breakout with higher volume.

4 CHARTS — DEFINE ALL TRADES — VERY HIGH RISK SET UP IF WE BREAK SUPPORT

NOTE:  BTC chart should start by saying — BTC did not make a “higher high” so far today…. Also note bull case needs to see price above $7000 (ideally $7250) today or probabilities become high prob for bears and stops should be tightended or ST/IT positions should be reduced/scaled out.

btc early 6 13xbt weekly early 6 4EOS EARLY 6 11ONT early video 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 EOS crypto market early updates June 11, 2018 9:30 AM EST

Wave 2 pic

NOTE: Many notes between charts below — good day to study!

Just how bearish are you feeling about the crypto market after yesterday’s blood bath?  Probabilities say you probably should feel bearish BUT they don’t just give money away in crypto trading, so…..

We think it’s worth reading about Wave 2 and Wave 3 above and then study our charts and think about what SAFE trading really means for long term success…Also maybe a good day to reread our educational WAVES post?

CURRENT MARKET CONDITIONS

Continuing our list of key trading crypto concepts from yesterday:

When a market crashes highest probability is “there is no place to hide”

That’s exactly what happened yesterday — plus nearly every other pattern and indicator you study has to lead you to the conclusion that the move down yesterday was a REAL move and not a headfake.

HOWEVER — here are a few questions we are asking that COULD change that analysis:

1) Why didn’t they take out the lows and create pattern AND wave failure below the $6000 range for BTC?  

2) Why didn’t they even take out the recent lows at $6425 making new 2018 lows high prob??

3) Why is the bullish pattern still valid for EOSUSD on the Kraken chart when BTC and the large altcoins all showed pattern failure yesterday?

The bearish case answer to these interesting questions is easy:

We’re saving more crash destruction for today so everyone can watch their account balances plummet.

That’s a damn good answer, and it’s the highest prob outcome given the current set up, meaning questions 1-3 above will all be resolved with more downside.

BUT — as we’ve said before — this is where the money is made (and lost) — and while we might be headed much lower we are again set up with a SAFE trade opportunity with very high upside that you need to study and determine if it fits your SAFE trade strategy.

JUST KNOW — this SAFE trade becomes extremely DANGEROUS (as in blow out account dangerous) if you can’t or won’t honor your stops

4 CHARTS — LINES IN THE SAND FOR THE KING AND THE MOST WATCHED ALTCOIN

BTC – shows wave set up and clear stop levels — highest prob is <$6250 more agressive <$5750 — below that $5000 and lower becomes mod/high prob

ST/IT TRADE STRATEGY = Enter on dips — PICK STOP AND HONOR THE HELL OUT OF IT highest prob or aggressive stop 

btc early 6 11XBT early 6 11xbt weekly early 6 4

NOTE:  We’re using Kraken EOSUSD due to recent unique volume patterns and otehr reasons.  However, it’s also worth noting EOSBTC (binance) has same bull pattern still in tact AND has a set up for a bullish lower low reversal if we close above yesterday’s low today.  This is currently only a moderate prob trade but well worth studying even if you don’t trade it.

Also: Watch ETH if EOS breaks down — so far ETH has just moved with BTC as usual, but ETH MIGHT be a winner if EOS is a loser — at least worth watching…..

EOS EARLY 6 11

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 EOS crypto market early updates June 10, 2018 10 AM EST

NOTE:  The current market set up brings up several concepts we often repeat:

  1. Part of a good ST/IT trade strategy should consider market “character”
  2. Bullish patterns fail in bear markets
  3. Close is what matters                          and of course
  4. They can take price wherever they want AT ANY TIME

#1 is the one we’re focused on right now — The crypto market is showing a completely different price action and volume character than in the past — as we’ve noted you’ve got zillions of new huge investors and traders now trading crypto but lately volumes are much LOWER?  A huge move that gets social media all worked up is BTC $7500 down to $7250?  No daily altcoin up 50% or more moon shot?

What does this change of market character mean?  Long term subs know our answer — it means SOMETHING — and at the least it should make traders more conservative and defensive.   Which leads to one more concept we are dusting off that we used to say all the time (until we got the answer probabiltiies said we would last december/january)

ARE WE IN A LONG TERM BULL MARKET FOR CRYPTOS OR NOT?

If you study the current long term charts — click on link for LONG TERM ANALYSIS our JUNE CHARTBOOK we shared last week and if you read the latest news — for BTC and most key altcoins the answer is YES.

But just like twitter took over a year to meet our pattern targets around $40 (we posted update last week–see Stocks link) — THEY have endless money and can play games for longer than you can imagine — and even then higher prices are NEVER guaranteed.

BOTTOM LINE TAKEAWAY?  Of course it’s another trading concept we say more than often than any other

STAY SAFE — THIS WILL ALLOW YOU TO STAY IN THE GAME (profitably per current patterns!)

Current Market Conditions

The patterns are still very bullish for EOS at least IT/LT, but the only chart worth really watching is BTC — while they have changed the market character for price and volume action, one thing is still crystal clear:

BTC is THE KING and the market still moves with it — until it doesn’t.

4 CHARTS — 3 BTC/XBT and EOS — Watch them no matter what you trade/hodl.

NOTE: the two XBT charts are from recent posts and still in play

btc early 6 10xbt early 6 8

NOTE: Daily XBT indicator is not nearly as oversold as weekly (closer to overbought!) so could see strong drop before reversal — this supports honoring stop loss ranges — defining intraday stops and watching for reentry set ups.

xbt early 6 7

EOS early 6 10

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 Early updates June 8, 2018 10:15 AM EST

NOTE:  We’ll say it again….THEY run the show, and THEY can take price wherever they want, at ANY time.

HOWEVER, that doesn’t mean you can’t trade safely and profitably– which leads to….

CURRENT MARKET CONDITIONS

We’ve got a strong SAFE trade set up that will become even more defined after today’s close.  This set up would be high probability in a confirmed bullish wave, however, we are not in one currently, so trade at your own risk knowing that….

The set up for BTC is covered well by the XBT futures chart we shared yesterday where the opening gap still has not closed (shown again below) and the weekly chart we shared in our June Chartbook (updated version shown below).

$7250 continues to be the key support that can be used to define SAFE trades — if you’re looking for altcoins to trade we’ve shown many recent set ups with EOS, BCH and MAID being a few examples to consider.

2 CHARTS — SAFE SET UPS LIKE THIS DON’T COME ALONG EVERY DAY (that doesn’t mean they always work!!)

xbt early 6 7

xbt early 6 8

 

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