NOTE: LONG TERM UPDATE COMING SOON.
New month starts tomorrow — As we have done the last 2 months for subscribers (see category on your right), we will be doing a LONG TERM UPDATE for key cryptos in the next few days that will cover “big picture” for the crypto market with detailed charts and UPDATED LONG TERM TARGETS –we think this is valuable for evaluating IT/LT trading strategies — so watch for that….
Now for today’s update:
As noted in yesterday’s market wrap there were multiple bullish signs that indicated we might see the bearish reversal pattern fail and that’s exactly what happened.
However, unlike a powerful bullish wave like we saw late in 2017 we didn’t explode higher but instead drifted back right to the pattern failure level — leaving us with mixed signals.
We’re sharing a few key charts here to show you why we still see a
SLIGHT EDGE TO BULLS
HERE’S THE ROADMAP FOR TOMORROW
If current probabilities play out, we should see some strength soon (as in next 1-2 days) an go fill that gap at 81xx on the XBT chart (Shown below) — STR/XLM (shown below) is saying large altcoins will likely go along for the ride GNT (chart not shown- see yesterday’s post) dropped hard but has started today’s trading with a solid reversal pattern, so that’s worth watching too
If we DON’T see strength in BTC XBT, STR, and possibly GNT then we’re likely to retest $7250 BTC with altcoins dropping as hard or harder and it will be time to watch LTC to see if its going to break its $100 crash low.
Whatever happens, we’ll be watching closely as there are multiple indicators and news that show big moves on deck sooner rather than later — the weekend is coming EOS is going live among other things…..
Don’t play games with your trading in this volatile set up. STAY SAFE = Have a clear trading plan and execute without hesitation.
3 CHARTS – GAP FILL OR TEST CRASH LOWS — WE’LL KNOW SOON.
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