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.

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BTC XBT ETH crypto market early updates June 19, 2018 9:15 AM EST

NOTE:  Our ETHUSD indicator is confirming and still in play but XBT futures (chart shown below) show that close today is important as a solid up day with higher volume would pave the way for more upside (test of $7250 or more), and a reversal could lead to breaking $6450, $6000 and even a possible test of $5000.

The highest probability takeaways for the current set up are:

  1. Have VERY realistic expectations for any bullish moves — taking profits or trailing stops have to be the strongest approach for now based on the last 2 months of price action.  When the time is right to be more aggressive, the market will show us
  2. Have VERY clear trading plans and don’t stay in trades if your stop ranges are hit — even though it’s possible we’re in “summer trading” you can still lose a LOT of money and get shaken out on a low volume move down to $5000 or lower.

Now more than ever STAY SAFE, and STAY IN THE GAME.

2 CHARTS — The Big 2 are representing the crypto market for now….

NOTE: Market moving very much in sync so trades can be developed for more altcoins with similar patterns.  See prior posts for many set ups and/or write us at cryptopatterns@gmail.com with questions

xbt early 6 19

Yesterday’s ETH post still in play — above $550 next target is $600 range which is strong resistance.  Above that could see strong move higher to $750 range but let’s see $600 first — respect “character of current market”!

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 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 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.