Category Archives: technical analysis

Daily technical analysis: Ethereum — November 20 (Ethereum/USD)

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Note that this report is written on: Nov 20, 2017 02:06AM GMT

Technical Summary Ethereum: STRONG BUY

Moving Averages: 12 BUY / 0 SELL | Technical Indicators: 9 BUY / 0 SELL

Ethereum 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Ethereum’s Moving Average indicators

What is “moving average” (more info)?

Ethereum’s Background, Fundamentals, Investment stats & Long-term indicators

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Ethereum — November 20 (Ethereum/USD)

CoinCheckup Technical Analysis

In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for Ethereum & other Cryptocurrencies.

Note that this report is written on: Nov 20, 2017 02:06AM GMT

Technical Summary Ethereum: STRONG BUY

Moving Averages: 12 BUY / 0 SELL | Technical Indicators: 9 BUY / 0 SELL

Ethereum 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Ethereum’s Moving Average indicators

What is “moving average” (more info)?

Ethereum’s Background, Fundamentals, Investment stats & Long-term indicators

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Bitcoin — November 15 (Bitcoin/USD)

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In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for Bitcoin & other Cryptocurrencies.

Note that this report is written on: Nov 15, 2017 10:45AM GMT

Technical Summary Bitcoin: STRONG BUY

Moving Averages: 12 BUY / 0 SELL | Technical Indicators: 6 BUY / 3 SELL

Bitcoin 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Bitcoin’s Moving Average indicators

What is “moving average” (more info)?

Bitcoin’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

Feel free to share your thoughts, feedback, and suggestions in the comments below. If you like this article share it on social and with your friends! :-)Subscribe and stay tuned for daily updates!You can also get in touch with the CoinCheckup for Feedback or new features you would like to see on the CoinCheckup website.

CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Bitcoin — November 15 (Bitcoin/USD)

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In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for Bitcoin & other Cryptocurrencies.

Note that this report is written on: Nov 15, 2017 10:45AM GMT

Technical Summary Bitcoin: STRONG BUY

Moving Averages: 12 BUY / 0 SELL | Technical Indicators: 6 BUY / 3 SELL

Bitcoin 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Bitcoin’s Moving Average indicators

What is “moving average” (more info)?

Bitcoin’s Background, Fundamentals, Investment stats & Long-term indicators

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

BCH/BTC on 15November 2017

Analysis

  • BCH/BTC surged from 0.09 to as high as 0.4 recently, which is about 4 times in 3 days
  • It was moving too fast, with both RSI and Stochastic indicator showing overbought signals repeatedly
  • There was a strong correction, and BCH/BTC is finding support at the 0.18 level
  • Price hitting the upper trendline at 0.195, in which it can break out or go back to the support level

Suggestion

  • Look at the price action at the 0.195 level. Enter long trade when it breaks out, or short when it goes back, with take profit at the support level
  • Volume dropped significantly after the recent rally, it might become stale like what it did prior to the rally, if this is the case we do not recommending trading it

Disclaimer: Cryptomover is not a licensed financial advisor. The information presented in this piece is an opinion, and is not purported to be fact. Cryptocurrency is a volatile virtual commodity and can move quickly in any direction. Cryptomover is not responsible for any loss incurred by following this advice.

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BCH/BTC on 15November 2017 was originally published in Cryptomover on Medium, where people are continuing the conversation by highlighting and responding to this story.

Daily technical analysis: NEO — November 12 (NEO/BTC)

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Note that this report is written on: Nov 12, 2017 10:15AM GMT

Technical Summary NEO: BUY

Moving Averages: 6 BUY / 6 SELL | Technical Indicators: 6 BUY / 2 SELL

NEO 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

NEO’s Moving Average indicators

What is “moving average” (more info)?

NEO’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Bitcoin — November 7 (Bitcoin/USD)

CoinCheckup Technical Analysis

In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for Bitcoin & other Cryptocurrencies.

Note that this report is written on: Nov 07, 2017 08:33AM GMT

Technical Summary Bitcoin: STRONG BUY

Moving Averages: 11 BUY / 1 SELL | Technical Indicators: 10 BUY / 0 SELL

Bitcoin 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Bitcoin’s Moving Average indicators

What is “moving average” (more info)?

Bitcoin’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: NEO — October 31 (NEO/BTC)

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Note that this report is written on: Oct 31, 2017 07:16AM GMT

Technical Summary NEO: STRONG SELL

Moving Averages: 1 BUY / 11 SELL | Technical Indicators: 0 BUY / 9 SELL

NEO 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

NEO’s Moving Average indicators

What is “moving average” (more info)?

NEO’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: NEM — October 30 (NEM/BTC)

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Note that this report is written on: Oct 30, 2017 07:46AM GMT

Technical Summary NEM: STRONG SELL

Moving Averages: 0 BUY / 12 SELL | Technical Indicators: 3 BUY / 6 SELL

NEM 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

NEM’s Moving Average indicators

What is “moving average” (more info)?

NEM’s Background, Fundamentals, Investment stats & Long-term indicators

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Ethereum Classic — October 28 (Ethereum Classic/ETH)

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Note that this report is written on: Oct 28, 2017 06:15AM GMT

Technical Summary Ethereum-Classic: STRONG SELL

Moving Averages: 1 BUY / 11 SELL | Technical Indicators: 1 BUY / 8 SELL

Ethereum-Classic 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Ethereum-Classic’s Moving Average indicators

What is “moving average” (more info)?

Ethereum-Classic’s Background, Fundamentals, Investment stats & Long-term indicators

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Ripple — October 21 (Ripple/USD)

CoinCheckup Technical Analysis

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Note that this report is written on: Oct 21, 2017 05:53AM GMT

Technical Summary Ripple: STRONG SELL

Moving Averages: 2 BUY / 10 SELL | Technical Indicators: 0 BUY / 8 SELL

Ripple 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Ripple’s Moving Average indicators

What is “moving average” (more info)?

Ripple’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: Ethereum — October 21 (Ethereum/USD)

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Note that this report is written on: Oct 21, 2017 05:46AM GMT

Technical Summary Ethereum: SELL

Moving Averages: 6 BUY / 6 SELL | Technical Indicators: 1 BUY / 6 SELL

Ethereum 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Ethereum’s Moving Average indicators

What is “moving average” (more info)?

Ethereum’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto  ark   Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

ETH/USD on 18 October 2017

Analysis

  • ETH/USD has been moving in a downward channel but it might be running out of steam
  • Bullish divergence on Stochastic indicator: price moved lower to test $310 but Stoch actually rose up
  • RSI also showed oversold signal twice
  • These indicated that $310 will be a strong support level for ETH/USD

Suggestion

  • The market will probably test $310 again. Look for more bullish signals for a long trade
  • If $310 is penetrated, it will easily fall to $300 or even lower

Want to diversify your cryptocurrency portfolio? Visit our website to learn more! Please also join our telegram chat for daily updates!


ETH/USD on 18 October 2017 was originally published in Cryptomover on Medium, where people are continuing the conversation by highlighting and responding to this story.

Daily technical analysis: Monero — October 12 (Monero/USD)

CoinCheckup Technical Analysis

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Note that this report is written on: Oct 12, 2017 03:53AM GMT

Technical Summary Monero: STRONG SELL

Moving Averages: 5 BUY / 7 SELL | Technical Indicators: 0 BUY / 11 SELL

Monero 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

Monero’s Moving Average indicators

What is “moving average” (more info)?

Monero’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

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CoinCheckup | Crypto Market Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Daily technical analysis: IOTA — October 12 (IOTA/BTC)

CoinCheckup Technical Analysis

In order to support you and the crypto community with trading decisions, CoinCheckup is serving you with Daily Technical analysis updates for IOTA & other Cryptocurrencies.

Note that this report is written on: Oct 12, 2017 03:46AM GMT

Technical Summary IOTA: STRONG SELL

Moving Averages: 1 BUY / 11 SELL | Technical Indicators: 1 BUY / 7 SELL

IOTA 24 hour Technical Indicators

What is are these indicators (click for more info):RSI, STOCH, STOCHRSI, MACD, ADX, Williams %R, CCI, ATR, Ultimate Oscillator, ROC, Bull/Bear Power

IOTA’s Moving Average indicators

What is “moving average” (more info)?

IOTA’s Background, Fundamentals, Investment stats & Long-term indicators

Thanks for reading!

Feel free to share your thoughts, feedback, and suggestions in the comments below. If you like this article share it on social and with your friends! :-)Subscribe and stay tuned for daily updates!You can also get in touch with the CoinCheckup for Feedback or new features you would like to see on the CoinCheckup website.

CoinCheckup | Crypto Market Analysis, Predictions & Investment stats

Disclaimer: Trading and investing in digital assets is highly speculative and comes with many risks. The analysis & stats from CoinCheckup are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Technical analysis stats are out of date the moment we post them. Scores on CoinCheckup are based on common sense Formulas that we personally use to analyse crypto coins & tokens. We’ll open source these formulas soon. Past performance is not necessarily indicative of future results. [Read the full disclaimer here]

Midweek Update: Hold On – The Gold & Silver Bull IS GONNA KICK


The stage is set and the music is blaring the tune “Immediate price surge”

Haven’t seen the charts this bullish in the short term for a while, and haven’t felt this bullish in a while either. The bears do look like they could be in for a shocker as things are shaping up nicely. It is hard to argue against a price surge, but I suppose anything is possible.

The Gold Price is ready for another shot at $1300 based on the chart painting. The yellow metal has been holding in there:

 

For the better part of the year, the price of gold has been stuck in that sideways channel of, call it, $1220 and $1300. Well, there is just not much room left to float sideways on the daily chart. We are right up against the resistance line. What looks nice in the short term, is that when gold punched through $1300 last Friday, it drifted sideways to the support line of the upward sloping channel. That chart formation is going to have to break down as gold breaks out, and that break out is above the massive resistance at $1300.

Will it break out today? Looks like it could. Recall that just yesterday, 12,500 contracts were dumped sold on the COMEX in just 3 minutes. After smashing the price to $1287, gold is again poised to make a run at $1300 starting from $1295. One thing for sure by the chart, however, is that gold doesn’t have much longer than this week before some type of move in price happens, and that type of move could be a head-turner.

The Silver Price is equally as bullish. Silver has put in a very large bull flag on the daily chart. Just like with gold, there is not much room left to run to the side on he chart. Silver will either break out, or break down, and we’re just not sure how much more breaking down it can stand without breaking the bank’s physical limits on actual metal:

 

 

Silver prices are not overbought, and all the technicals are in our favor. We have seen the Tuesday smash yet again yesterday, but silver held up. It seems once again, as it did in early 2016, that the harder the cartel tries to smash, the less they are able to suppress price. The floor keeps being raised, and who knows how tall the skyscraper will be built. Sooner than that, however, is that silver, once again, is about to start moving, and technical indicators point up.

Further in the bullish factor of the metals is the continued strong performance of copper and palladium. This is where it gets tricky:

 

 

All the analysts are saying, well, the “base metals are overbought at this point”, “it was all based on the infrastructure build”, and “this is rampant speculation in China”. Seems odd how those same nay-sayers argue that “cryptocurrency is not overbought”, “the stock market is not overvalued based on the [non-existent] tax breaks”, and “what happens in China, stays in China”.

There is no denying the bullishness in the chart, however. The base metal and precious metal have converged again, and the move is far from parabolic as it is shaping up when watching the formation of the daily. All year long, we saw the metals form a nice rounded bottom, and they have been grinding away at moving to higher-highs. At this point, base metal and precious metal shorts may want to reconsider those positions.

Crude oil also looks like it is in store for some positive price action. However, the chart for crude doesn’t so much highlight black gold as it does speak to the immediacy of the spike in price coming to gold and silver. First, the look of crude itself:

 

 

On the daily, we can see that crude has been bounding off support that is somewhere between $46 and $47. This is signaling that we can be ready for a move higher, although there are no immediate intersections on the chart screaming “rip-your-face-off”. What is more likely as the daily is shaping up, is that the blue 50-day moving average is starting to turn up.

There is one formation that technical analysts like to throw out from time to time, and that is a head and shoulders pattern. In crude, one could argue a reverse head and shoulders pattern with the head right at the low. Crude right now is finishing the second shoulder, and since it is an inverse, this would be bullish, though seeing how long it has been forming on the charts, since late March, it could take equally longer to make the move. The bottom (no pun intended) has been shaping up on the chart, and crude is looking bullish moving forward, but more slowly. Once it gets back up to $50, however, it has to deal with that nasty resistance line it hasn’t been able to break for most of the year.

Circling back to the point about the metals and crude. Crude is looking bullish on the chart, but when compared to the metals, gold and silver are looking very bullish, and in the immediate, near term too. Crude is slowly doing it’s thing, but the metals are pent up and ready to bring fire and fury on the COMEX. We’ll see how much firepower the cartel has to respond, and we will see sooner than later. Not so much with crude.

The stock market looks ugly. There is always the possibility of a massive price spike and rally, but the Dow and S&P 500 really look exhausted here. There are wild swings occurring almost daily, and they are rounding a top our for a move lower:

 

 

No, that’s not a downward channel, that’s two ugly downtrend lines amidst the erratic swings of the last three weeks. And wouldn’t you know? Tomorrow is 8/24. I wouldn’t want to be buying up a bunch of stocks right now. No sir. I’ll just grab a couple more eagles and pop some popcorn.

On the charts, this leaves us with the US dollar. The last fiat standing. Though it looks like it is slouching rather than standing, and get ready to get out of the way, because it could faint and fall too:

 

 

 

There is nothing good looking about the dollar, even though the MSM and most analysts have been on the “strong dollar” meme all year. They will soon know what it ultimately feels like, and they will feel it for a very long time, as in years, because we have been feeling it since 2011 in silver and 2013 in gold. “Strong silver’ and “strong gold” were the memes as they reached $1050 and $13.50 respectively. The dollar has been strong, yes, but that was since June 2014. Now, that dog don’t hunt. Anybody seeing a bottom here might want to rethink their plan. 

The one thing working against us today is the calendar of economic news for the day:

 

 

There are market moving data releases coming out all morning, and if that doesn’t cause a little queasiness to all the gold and silver bulls, the Fed Kaplan speech in the afternoon should. Did the cartel use up all their ammo yesterday? Those three minutes in gold look like they certainly went through a lot. And if there is some political turmoil in Washington, or some event elsewhere in the world, they are going to need whatever they have left for that.

So here we wait, looking good, but again, we are breaking out or breaking down. We have broke down so many times this year that we almost expect it. The chart for both the gold price and silver price, are screaming “right now” and “this week”, and if that break out is to the upside, people are going to get caught off guard, and their are either going to be in a ton of pain, or they are going to be running as fast as they can trying to catch up.

Teknik Analizler Kripto Paralar Üzerinde Etkili Mi ?

Finansal piyasalarda hisse senedi, döviz gibi varlıkların gelecekteki fiyatını tahmin etmek için kullanılan başlıca iki yöntem vardır. Bunlar temel analiz ve teknik analiz olarak bilinirler.

Temel analizler küresel değişmeleri ve gelişmeleri baz alırken, teknik analizler ise bütünüyle fiyatlamalarla ilgilidir.

Temel analiz, bir varlığın gerçek değerinin öz niteliklerine ve piyasanın durumuna bağlı olarak belirlenmesini içerir. Temel analiz genellikle uzun vadeli ticaret için kullanılır.

Teknik analiz, fiyat eğilimlerini belirlemek için göstergeleri okumayı ve grafik hareketlerini analiz etmeyi içerir. Kısaca; bir varlığın geçmişte yaptığı hareketlerden çıkarım yaparak gelecekte yapacağı hareketlere dair analizlerde bulunulmasıdır. Teknik analiz genellikle day/swing borsacılar tarafından kullanılır. (yani kısa vadeli ve orta vadeli yatırımlar)

Kısa vadeli günlük kar amacında olan (day/swing) borsacıları kripto para piyasasındaki yüksek dalganlanmalar (volatilite) cezbetmektedir. Bu kişisel yatırımlarını yönlendirmek için genelde teknik analiz kullanırlar. Teknik analiz yapan bu borsacılar genelde destek, direnç noktaları mum grafiklerinin boylarını kullanarak analizlerini çeşitlendirirler.

Bu analiz yöntemlerini forex vb… piyasalarda yüksek doğrulukla çalıştırmanız mümkündür. Şu an için kripto para piyasasında analiz yöntemlerinin çalışabilirliği tam olarak kanıtlanmamıştır. Piyasa daha çok yeni olduğu için dalgalanmalar fazladır bu da yaptığınız analizin aksine sizi bir anda ters pozisyonda bırakabiliyor. Özellikle de yatırım stratejinizi önünüze gelen YouTube kullanıcılarından topladıysanız, yatırımlarınızın geleceği için pek iç açıcı olmayacaktır.

Yatırım yapmak için karar alırken kripto para’nın geliştirme takımının yetkinliğine, pazarlama stratejisine, altyapı güvenilirliğine, altında yatan teknolojisine ve bu teknolojiyi destekleyen kitleye göre yapmanız sizi daha mutlu edecektir.

Teknik Analizler Kripto Paralar Üzerinde Etkili Mi ?

Finansal piyasalarda hisse senedi, döviz gibi varlıkların gelecekteki fiyatını tahmin etmek için kullanılan başlıca iki yöntem vardır. Bunlar temel analiz ve teknik analiz olarak bilinirler.

Temel analizler küresel değişmeleri ve gelişmeleri baz alırken, teknik analizler ise bütünüyle fiyatlamalarla ilgilidir.

Temel analiz, bir varlığın gerçek değerinin öz niteliklerine ve piyasanın durumuna bağlı olarak belirlenmesini içerir. Temel analiz genellikle uzun vadeli ticaret için kullanılır.

Teknik analiz, fiyat eğilimlerini belirlemek için göstergeleri okumayı ve grafik hareketlerini analiz etmeyi içerir. Kısaca; bir varlığın geçmişte yaptığı hareketlerden çıkarım yaparak gelecekte yapacağı hareketlere dair analizlerde bulunulmasıdır. Teknik analiz genellikle day/swing borsacılar tarafından kullanılır. (yani kısa vadeli ve orta vadeli yatırımlar)

Kısa vadeli günlük kar amacında olan (day/swing) borsacıları kripto para piyasasındaki yüksek dalganlanmalar (volatilite) cezbetmektedir. Bu kişisel yatırımlarını yönlendirmek için genelde teknik analiz kullanırlar. Teknik analiz yapan bu borsacılar genelde destek, direnç noktaları mum grafiklerinin boylarını kullanarak analizlerini çeşitlendirirler.

Bu analiz yöntemlerini forex vb… piyasalarda yüksek doğrulukla çalıştırmanız mümkündür. Şu an için kripto para piyasasında analiz yöntemlerinin çalışabilirliği tam olarak kanıtlanmamıştır. Piyasa daha çok yeni olduğu için dalgalanmalar fazladır bu da yaptığınız analizin aksine sizi bir anda ters pozisyonda bırakabiliyor. Özellikle de yatırım stratejinizi önünüze gelen YouTube kullanıcılarından topladıysanız, yatırımlarınızın geleceği için pek iç açıcı olmayacaktır.

Yatırım yapmak için karar alırken kripto para’nın geliştirme takımının yetkinliğine, pazarlama stratejisine, altyapı güvenilirliğine, altında yatan teknolojisine ve bu teknolojiyi destekleyen kitleye göre yapmanız sizi daha mutlu edecektir.

Simple Trading Strategy that Works — Fishing for Fib Levels like a BOSS

Searching for bull markets is relatively easy right now. Take advantage of it by placing bids right in the reload level and licking your chops while it drops into your buy order. I have done this repeatedly over the past couple weeks. Here are a couple charts to better see what I’m talking about. You can’t even see where price ultimately went too . . it shot up so damn high.

I bought right at 31,000 satoshis. I also bought another bunch of ZCL at about 29,000 sats, but I did it directly from Bittrex so it doesn’t show up on Coinigy. If you are unfamiliar with fib levels, I plan to do a post on them at some time. But YouTube has a treasure trove of instructional and tutorial videos.

The trick is to draw the fib from the bottom of the preceding move to the top. Ideally, the buy zone is right on the 78.6 fib level. Sometimes, I will take a nibble around the 70.2 percent fib, and place another bid at the 78.6 fib level.

It worked splendidly with Civic as well. This is the 4 hour chart. I typically like to use the long tool in Coinigy to give me an exact risk/reward ratio. At least a 2:1 is what I aim for. CVC went blazing up through my sell order. The trick is to allow the market to bottom out, then hit a peak. Don’t FOMO (fear of missing out) and buy at the top. Wait. Be patient. Let the market come back down to you.

EMC supposedly had some fundamental news driver . . or maybe it was pumped artificially. Either way, it doesn’t really matter. Exact same process here. Starting to see a pattern? Looking for this setup on charts is a systematic way to trade.

Granted, it does not always pan out. My LBC and AMP trades ended up getting washed out. Both are strong coins with active development and good volume. Price has already rebounded a bit since the original setup failed. And that’s alright. Trading isn’t meant to be a perfect science, but it is a way to gain edge. Maximizing potential gains while simultaneously minimizing losses is the way to go.

DISCLAIMER : This content is for informational, educational and research purposes only.

Links to the charts:

EMC: https://www.coinigy.com/s/i/599b9a8012134/

CVC: https://www.coinigy.com/s/i/599ba21e9e67c/

ZCL: https://www.coinigy.com/s/i/599ba26b3a94d/

Originally published at steemit.com on August 22, 2017.

An Introduction to Crypto Technical Analysis — Using Trend Lines

For most new investors who are entering the world of Crypto, the plan is quite simple, buy some coins, hold them until they go up and sell them for a profit. Easy right? Not really. Buying any Cryptocurrency at the wrong time can put your trade in negative, this can happen quickly and substantially, and if you are new to Crypto trading, this can start your journey off on the wrong path. By using some basic technical analysis, you can start making better decisions about timing your entrance into a coin and thus be a more profitable trader.

If you don’t have previous stock or investment experience, then you may not be aware of the charts which track the price of an asset, but as you start checking prices you won’t be able to avoid them, see an example chart for the Bitcoin/USD pairing below. But what do they mean? How do you use them? Should you even need to care?

I suspect most readers of this blog are part-time traders, while holding down a full-time job, and as such, also do not have the time to analyse the charts and watch the markets all day. Therefore, I am going to share with you the most important tool I use for making my investment decisions: trend lines and their buddies, support and resistance indicators.

Before I start explaining these, please note two important things:

  • I am by no ways an expert in technical analysis. I am just sharing with you some basics I have learned along the way which has helped my trading decisions.
  • Technical analysis is by no means a guarantee for predicting future events; it should be used alongside other market pricing factors.

These charts and the associated tools for analysing them are useful for improving your decision-making and timing. Timing decisions are particularly important for day traders who use technical analysis of the charts to identify the point to enter and exit a trade with precision.

But I don’t day trade Crypto. As such, while the charts are important to me but they are a tool I use alongside news, sentiment and gut feel.

Introduction to trends

Before we start looking at trend lines I want to introduce you to something Benjamin Graham, the father of value investing, said with regards to how company stock prices are created:

In the short run, the market is like a voting machine — tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine — assessing the substance of a company. The message is clear: What matters in the long run is a company’s actual underlying business performance and not the investing public’s fickle opinion about its prospects in the short run.

I consider this to be fairly accurate for Crypto markets too, but more extreme, and this is why you will see short term irrational price pumps on coins but in the long term the most substantial cryptocurrencies will perform best. Hence, in the short term, we have seen big moves by the likes NEO, OmiseGo and TenX as investors speculate on their future performance. Long term, these coins will have to prove utility and performance to maintain a high market cap.

Ripple is an example of a coin facing this battle. Earlier in the year, it went on a short-term bull run as investors speculated on its future value, but its price has bled down from a peak of $0.43 with a market cap of $16.4bn on March 17th to a present-day price of $0.15 and a market cap of $5.8bn. This represents a fall in the price of 65% and it is still falling. While other coins have dropped and bounced back, such as Ethereum, Ripple is still in a downtrend as it battles some questions over its fundamentals.

The market and specific price movements can appear irrational in the short term but act rational long term. This is also why all my investments are made for the medium to long term.

If you, therefore, consider the markets as a voting mechanism for the price of a coin. There are a whole bunch of people willing to buy at a range of prices, and equally, there are a whole bunch of people ready to sell at a range of prices. When there are more buyers, the price tends to go up, and when there are more sellers, the price tends to go down. The voting on pricing is based on a range of knowns and unknowns. The knowns including speculation, history, future expectations, news, and rumours. The unknowns being, well, unknown.

Rumours are important as the market tends to price rumours in with its voting mechanism, which is why you will often hear the saying “Buy the rumour, sell the news”, referring to the situation where, for example, Litecoin was rumoured to be activated SegWit earlier this year, and the price rallied. On the day of the official announcement of lock in, the price dropped back again and continued to fall for a month. In such a scenario you will see a bunch of amateur investors complaining on Twitter and Reddit about why the price hasn’t gone up. The reality is that the rumour was priced in. This is where professional traders are one step ahead of the amateurs.

You also need to consider the whales, if you haven’t heard of these, they are the big money investors who can influence or manipulate the market with the size of their trades. You can read about them here:

What is a Crypto Whale?

So in summary, we have coins with good long-term prospects, acting irrationally in the short term as the market finds a price, tests highs and lows with investors of all sizes buying and selling, either manually or with automated bots, influenced by knowns and unknowns. There is a fuck load going on here, and with Crypto being super volatile it is therefore important that you find a reliable entry point when you want to invest in a coin.

This is where trend lines can be helpful, wherein both the short and long-term prices tend to follow identifiable trends. As you increase your technical analysis, you will come across specific price patterns such as Elliott Waves and Fibonacci Retracements. Don’t worry too much about the details of these right now we are going to just focus on a straight trend line.

How to use trend lines

Before we start getting into trend lines we need to get our head around a couple of things first:

1. There is no central price

There isn’t a central price for any coin. Each coin has a buy and sell price specific to the exchange you are using. You can, therefore, see a differential in the price of a coin between different exchanges.

Websites which quote prices tend to either have a reference price or they calculate their price based on an average from many sources. You can see how Coindesk generates its $ Bitcoin price here:

Coindesk Bitcoin Price Index

Trading pairs

A trading pair is a relationship between two assets for buying and selling coins. Some trading pairs are fiat to Crypto, and some are Crypto to Crypto. For example, with Coinbase you have a trading pair of fiat ($, £ and €) to Crypto for Bitcoin, Ethereum and Litecoin. With other exchanges you may have trading pairs from Crypto to Crypto, for example, NEO/Bitcoin, as such you are buying and selling NEO in Bitcoin rather than fiat.

What a Crypto to Crypto pairing means is:

  • To buy some coins, you need first to buy Bitcoin, transfer it to the exchange and then purchase the coin you want with the Bitcoin.
  • While on Coinmarketcap you can see the price of a coin in fiat ($, £ and €), the price on the exchange will be in Bitcoin, which itself has a moving price. Therefore the chart for a coin against $ can look wildly different for the same coin against Bitcoin.
  • When charting with a tool such as Coinigy, the charts are based on trading pairs, as such your chart may be against BTC price rather than fiat and therefore if the BTC price is fluctuating it can be misleading as to what is happening. Often the prices will adjust to reflect changes in BTC price, but not always.

When I am using charts, I, therefore, do the following:

  1. Stay aware of the fiat price using Blockfolio and Coinmarketcap as when I want to buy or sell a coin I am wanting to make my profit in fiat and therefore track in fiat.
  2. Chart using the trading pair from the exchange where I am either going to buy or sell. Therefore if I am trading NEO/BTC, I will use that trading pair for my chart.
  3. If Bitcoin $ prices are moving, I will take for granted that the BTC buy/sell price will adjust to reflect it.

I know this may feel complicated, but in time this will make sense. The main thing to think about here though is, price in your local fiat and use charts to spot trends.

Anyway, moving on, I am going to use two examples to show how I use trend lines to guide my decisions.

1. Trend lines with a volatile coin

I’ll use NEO as an example for now as the prices have been flying recently and it is a good example for a fast-growing asset. The chart below represents the price of NEO from mid-June to the present with the trading pair NEO/BTC.

You will see that I have drawn two blue trend lines:

  • End of June spike: the resistance line where you will see the price is dropping
  • August spike: the support line where the price is rising

It is easy to get sucked into a new coin making big moves and trend lines will help you choose an entry point. With a charting tool such as Coinigy you can create lines and attach them to the chart to plot both support and resistance:

  • Support: being a price which traders will be buying at to stop a price dropping too low
  • Resistance: a price where traders refuse to buy more which stops the price going higher

The gap between support and resistance is known as the range. When a coin breaks through resistance it builds confidence and can drive prices much higher and when price breaks support it can trigger a sell-off. Many traders will create auto-buys and sells at different levels. We don’t need to go into this now as I am not this type of trader and there are places you can learn about this.

All I am interested in using these trend lines to make a buy or sell decision.

Hindsight can be misleading. Looking at the chart above you may think the small price spike at the end of June was still a good buying time because of the latest spike but the latest spike is not guaranteed. As such buying at the spike at the end of June wasn’t a good idea.

You only need to look at the chart below for Ripple where you can see the price has not recovered from the mid-May spike and has nearly retraced 100% back down. Many traders have been burnt with Ripple and have been holding long with the hope it will come back. It is hope. There is no guarantee it will go back up.

Back to NEO. I sold two batches of my holding during the August spike, one halfway to the top and one around 20% off the top. The sell into fiat was to support my 5% for 25% ‘money off the table’ strategy. I still hold a position and I will be looking for a new entry point.

Looking at the chart below, the buying opportunity with the most recent rally was either of the blue arrows but if you bought above the red line you could be in trouble. The price has already risen over 200% in 10 days, and even though it continued, you would have had to have day traded in and out to make a margin.

If you want to buy into NEO then it is important not to chase and use the trend lines to find an opportunity. Looking back at the chart above you will see that I have now added a pink line which represents price resistance. The support and resistance lines are forming a triangle. What I am looking for here is what will happen when the price hits the point where the pink and blue lines meet. I would look to buy if one of two things happen:

  1. Price bounces off the support line multiple times, sometimes two, usually three bounces.
  2. If the price trades sideways for a while, hopefully around a month, see the two blue ‘Buy Here’ arrows on the first chart. This is my fav place to buy. If you look back at the first NEO chart, what I am looking for is for the period between 11th July and 1st August where you see the price is pretty flat and I have put two blue ‘Buy Here’ arrows. The boring period where patient investors hold out.
  3. What is happening here is that Neo is bouncing around in a small range finding its price, testing for both an upwards or downwards trend. Where technical investors may ignore the fundamentals, I will be interested in the project, any news coming and whether I believe it has reached its potential peak market cap.

Where NEO bounced off the support line two days ago (Aug 18th ‘17), a number of day traders would have had their buy orders (where you auto buy a coin when it drops below a specific price) activated as this proved support and a time to invest. They would likely have matched this with a stop loss, where, should the price drop below a certain price it auto sells, therefore, they are making their buy decision based on support leading to a price increase but insuring themselves with a stop loss to minimise losses should this not happen. I am not interested in this. I buy for the medium to long-term.

I am looking for the boring period between 11th July and August 1st where I will hold out and wait for the next spike, where I believe there are good returns with a far more emotionally stable trading strategy. This allows me to live without being glued to the market on an hour by hour basis.

As a new trader, this form of charting is one of your most important and you should start using it from day one. If you are thinking of entering into a coin then you need to understand whether it is one which is making volatile big jumps and whether you are buying in a spike or not. If you are buying in a spike, for example, if you bought NEO on June 19th you will have paid $10.29 yet the price dropped to $4.90 by July 6th, a drop of over 50%. What now? Do you panic sell, do you wait and hold for however long hoping for the price to come back? Luck plays a huge role if you are not picking your entry points.

If you were a new investor you were most likely panicking here and I expect a whole bunch of people did sell off. Those who held out are smiling and think they are smart because of the latest price rise but as with Ripple, we know this won’t always happen.

Therefore, in its simplest form, if you are wanting to buy a coin then draw trend lines against the upper and lower prices:

  1. If it is rallying up then don’t chase it, ignore it and find something else
  2. If it is falling, wait for it to bottom out, it can go further and this is called catching a falling knife

What you are looking for is for when the trend lines break.

Trend lines with a stable coin

Next, I want to look at the chart for a more stable coin such as Dash, Monero, MaidSafeCoin, and Bitcoin. Stable coins are the ones which for me grow in a solid long term range. I struggle to always find the chart within a tool like Coinigy so I sometimes just use Coinmarket cap.

Below I will allow you to see the difference between a stable growth coin and a volatile one:

  • Above, you will see Dash, which if you ignore the spike this week, shows a nice solid growth range for the year, nothing too dramatic.
  • Below, you will see Zcash which was pretty flat, then exploded during the late May/early June spike and then equally crashed back and is now again quite steady.

The problem with Zcash is that it is difficult to find a long term range due to the huge price spikes. You can see a lower range and the price growing but in my portfolio, I want coins which have a good long term price range which I can rely on for growth.

With long term stable growth coins you have many more opportunities to enter the trade with the confidence it will continue to grow and is not just being pumped. This is why I love Dash. If you see below, the range is stable and delivering strong growth. I am using a tool called a pitchfork:

Investopedia: the application offers two formidable support/resistance lines with a middle line that can serve as both support/resistance or as a pseudo-regression line.

The only big dip through the lower level of support was during the June/July correction where Dash showed its resilience compared to other coins, bounced back strongly and is now seeing massive growth. I think investors are becoming wise to the strength of Dash.

Conclusion

If you are going to invest and you are new to the game then I recommend you get in the habit of using trend lines. Even if you are looking on screen and creating a line by holding up a piece of paper. Though I would recommend you start using something like Coinigy or Trading View, get used to zooming out on charts and plotting trend lines.

My key tips are as follows:

  1. If something is in an uptrend then do not chase it, especially if it has made +100% moves, it may continue but you can equally be caught in a retracement.
  2. If something is falling don’t buy in until the down trend has broken. Use Ripple as your example.
  3. Look for strong coins with a good ecosystem or tokens with good utility and is bouncing around in a small range, the boring zone. This is your entry point, enter and be patient.
  4. Ensure you have some stable growth coins like Dash and Monero in your portfolio.

Any questions then please give me a shout.

Tech-Analysis on BTC & ETH — June

June 2017 Summary: BTC, ETH & ETC

BTC/USD Final Summary

LT Consolidation — ST Trend Trading

Take a look at this image of BTC/USD for the month of June. It’s clear that price has bounced between Lower Highs & Higher Lows, forming what’s known as a “Flag Pattern”.
Daily BTC/USD — Bitfinex
4hr BTC/USD — Bitfinex

BTC hit a smudge above $3000 on Bitfinex during the first 2 weeks of June. Then sharply retracing to $2200 then for the next week trended back up to $2700. This pattern of setting lower highs, and higher lows has continued ever since.

Consolidation Trading Strategy

Technical trading strategies in “Flag Pattern” scenarios depends on the type of Technical trader someone is. For “Momentum based traders” this is 100% “Go to the sidelines and wait” time. Why? Because there is no positive or negative Long Term (4h & above) momentum. The momentum that carried prices to $3000 is slowly trickling away and all the price action since $3000 has been done by ST (2h & below ) speculators.

2hr BTC/USD — Bitfinex

Technical traders who are “Scalpers”, or “ST Momentum” traders can potentially make nice profits with clear trend lines (see above image) acting as the “boundaries” & trigger points for sells and buys — When price bounces off the top trend line, it’s a clear time to sell, and when price bounces off the bottom trend line, it’s a clear time to buy. Profit targets are somewhere past the 50% division between the two trend lines.

Possible trades with very high chances of success

  1. Selling around June 18th @ $2600 ish. Expected Profit target: Anywhere lower than or equal to $2200.
  2. Buying around June 25th @ $2250 ish. Expected Profit target: Anywhere higher than or equal to $2400.
  3. Selling around June 28th @ $2400 ish. Expected Profit target: Anywhere lower than or equal to $2300.

ETH/USD Final Summary:

Same : LT Consolidation — ST Trend Trading

Looking at this image of ETH/USD for the month of June, it’s clear that price has operated along the same lines as BTC/USD creating Lower Highs & Higher Lows — another “Flag Pattern”
4hr ETH/USD — Bitfinex

I won’t go into it all again, but everything I wrote above for BTC/USD is 100% applicable to ETH/USD. As well as the short term scenario, better seen in this image below.

2hr ETH/USD — Bitfinex

There is a slight divergence between BTC & ETH for the ST strategy. Intuitively we know we need 2 points to draw trend lines. Those 2 points need to be “obvious”. In the case of Ethereum, by the time it’s “obvious” where your points exist to draw a trend line, there are very few opportunities to capitalize because the “window of opportunity” — the distance between the top and bottom trend lines — is so small. This is the downside of “Trading the trading range”. Opportunities are very obvious, however, their potential “reward” is often times not worth the trouble. It’s also a must to be constantly monitoring price changes since reversals can happen extremely quick.

Other interesting June Note

USDT has seen a very large increase in Volume the last part of the month. This would explain a large lack of momentum from a LT perspective across major markets.

12hr USDT/USD — Kraken

Top 6 Reasons Why Technical Analysis For Bitcoin Is Useless

TheMerkle Bitcoin Technical Analysis Useless

Most people who trade bitcoin or any other asset will try to use technical analysis to determine their trading strategy. The use of technical analysis as being highly criticized over the years for obvious reasons. Below is a brief list of reasons why technical analysis should not always be used as the only indicator of how assets will behave.

6. Humans Crave Patterns

One of the primary reasons technical analysis exists is because it allows anyone to determine a specific pattern. Unfortunately, every pattern one thinks to see is biased, as most people only see what they want to see. Humans find patterns meaningful and helpful. However, there are those who will share a specific pattern – or prediction – in the attempt to trick people into doing that trader’s bidding.

5. There Is No Proof Technical Analysis Works

Up until this very day, there are people who swear by technical analysis and those who think it’s utter vaporware. Both camps are right in their respective way. No one ever successfully provided trading analysis works, yet no one can disprove it either. People often tend to forget there is a normal statistical distribution of successful and unsuccessful traders. Technical analysis won’t improve one’s trading strategy, as there are dozens of external factors beyond one’s control.

4. Predicting The Future is Impossible

When it comes to using technical analysis, traders use past information to predict what the future may hold. Unfortunately for traders, no human has devised the gift of successfully predicting the future. Using previous information may hint at what could come in the future, but it is by no means a credible source to make accurate predictions. Trends and pattern will eventually be broken, yet very few seem to accurately “guess” when this happens.

3. Everyone Gets Lucky Now And Then

Some traders who rely on technical analysis to determine the bitcoin price movement will gladly tell you there is no other way to gauge the market. It is true some technical analysis predictions have been correct in the past, albeit there have been some clear misses as well. Everyone will get a prediction right every now and them, but that doesn’t validate the means used to get to this conclusion.

2. There is No “Skill” Involved

Many people assume people who conduct a technical analysis are some sort of geniuses. Nothing could be further from the truth, as one’s forecast is not better or worse than the next person’s. Throughout history, there has been no one who kept a clear record of successful predictions based on technical analysis, it is doubtful this situation will ever change.

1. Turning Points Are Impossible To Predict

When it comes to dealing with a free market such as bitcoin, there will be turning points determining the price movement. Predicting a turning point is impossible, as there are no clear indicators as to why and when this will happen. Even the best technical analysis in all of finance can’t predict turning points. This also makes it impossible to make accurate long-term predictions.

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Bitcoin Price: $820 Resistance in the Way of New All Time High

Current bullish sentiment and upward pressure could double the Bitcoin price in December if resistance at $820 is broken. 


Short-Term Outlook

According to indicators, several support levels are ready to rise even if profit-taking takes place or if the big players force a sideways lateral market. Japanese Candlestick Analysis reflects that an intermediate support level has set it at around the $700 USD mark. The chart also hints that the next relevant support level could be at around $820.

[Note: click on the chart image for a larger view]

bitcoin-december-4th-near

Mid-Term Outlook

Prices recognized the recently established support at $700 to start the current climb to the trigger area at $820. From there, a euphoric bubble could form, driving the price far higher beyond all calculated technical objectives and could potentially reach as high as $1,500 (which is still short of some investors’ predictions). 

Now the spot price could shake the Gann Angles Theory and advance into a fresh new territory full of new players for about another 100 points.

bitcoin-december-4th-mid

Long-Term Outlook

Prices are in an upward pattern, which could double the spot price by the end of December. Extrapolating the same bullish patterns from the charts above, the next price target should be analyzed at $1,100. This is far beyond the former technical goal of around $820. Instead, this spot price could serve as a launch pad on its climb to the $1,500 mark.

bitcoin-december-4th-long

Bearish Scenario

Bitcoin users are, of course, no strangers to a rising price and volatility in general. However, a monkey wrench in the form of yet another exchange hack or even hearsay of a blanket ban in China, for example, could send the price on a downward spiral below $700. While unlikely, anything can happen in the Bitcoin space.

Bitcoinbear

However, as short term analysis reflects there are two support levels at $720 and $690 that look strong enough to sustain falling prices and jumpstart another upward move. Though the very last frontier appears to be around $660. Anything below this level would most likely eviserate any bullish momentum for a while. 

Where do you see the price going this December? Share your predictions below! 


Images courtesy of BitStamp, shutterstock

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Bitcoin Markets Poised for Rally Amid Economic Uncertainty

Bitcoin price

After Showing its strength to a massive public scope from traditional media, the bitcoin price has started the next climb, which is set to double quotes during December

Also read: Altcoin Report: The Blockchain, In Space? 

Bitcoin Price Technical Analysis

Long-Term Analysis

Prices built an intermediate level at $700, creating a premature lateral sideways market, which was estimated to form at a higher level, increasing volatility in a big flag pattern.

Once the flag pattern appears, we should see another short climb to the technical objective at $820 and beyond. If this forecast comes true, then the euphoric bubble would be on, doubling the present quotes before the end of 2016.

Mid-Term Analysis

Since August 2016, the bitcoin price has been synchronizing with a rising 45-degree axis.

Now, among several confusing patterns and false signals, the easiest thing is to assume is that the synchronization is about to be completed, backed on fundamental market data and political factors.

Once it happens, we can expect the ensuing action to drive the bitcoin price to $1000 territory and beyond, repeating the same pattern that occurs between May and June 2016.

Short-Term Analysis

A lot of technical patterns are overlapping at the same time, but according to indicators, the big flag pattern could breakout to the up side.

While news headlines and social media bring a lot of information about Bitcoin to the public, big players like investment funds, asset managers and banks are making markets behind the scenes.

Taking the present and future of the world economy into consideration, these investors will push prices up, renewing demand and bringing new fintech products to the market.

What do you think will happen to the bitcoin price? Are we headed for a massive rally to $100 and beyond? Let us know in the comments below. 


Cover Image courtesy of Pixabay.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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Bitcoin Price: Recent Drop a Brief Pause in Larger Rally to $920

Bitcoin Price: Recent Drop a Brief Pause in Larger Rally to $920

Bitcoin price volatility has increased, building building intermediate price levels as support references for the next rally. So, get ready for another ride to the moon, because the bulls are preparing for another stampede.

Also read: Lawnmower: Industry-Grade Information for a Next-Gen Altcoin Exchange

Bitcoin Price Technical Analysis: $920 Rally a Likelihood

Long-Term Analysis

After confirming a strong bullish consensus, prices are building intermediate levels as support references for when the next rise to $820 takes place.

This further upward movement, if confirmed should increase volatility and create confusion, leading to a lot of profit taking action and false signals that could produce a lateral sideways market.

Mid-Term Analysis

Using last June’s bullish movement as a reference, similar bullish signs allow the chance for another climb into an euphoric bubble, which should bitcoin price double quotes again to end this year over $1500.

If this scenario comes to fruition, prices will first take the action higher in another fast rally. Then, the markets will level out in a lateral sideways market at $820 before reaching the next trigger zone at $900.

Short-Term Analysis

Trading activity could increase with new intermediate support and resistance levels, while prices perform a synchronization process recovering their lag against indicators when arriving at the $820 level.

Japanese Candlesticks Analysis reflects the chance of another upward movement, while all theoretical thinking gets over to start the direct observation of price action and their indicators activity.

Staff opinion: Last week, we predicted that the bitcoin price would level out in the $700 range for some time, with further bullish pushes kept in check by profit taking at points above the psychological barrier of $700. This prediction proved to be accurate. The bitcoin price rose well above $700 for a few days, reaching highs of $740. However, a selloff quickly ensued, and the price fell to a low of $685 before returning to the $700 support. Taking this activity into consideration, we believe the $700 price point will continue to persist, with the next significant movement in the markets aligning with the present technical analysis.

What do you think will happen to the bitcoin price? Let us know in the comments below.


Cover image courtesy of Pixabay.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

 

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Technical Analysis: Explaining the Weekend Bitcoin Price Rally

Technical Analysis: Explaining the Weekend Bitcoin Price Rally

The prevailing bitcoin price resistance was overcome by a little flag pattern this past week, which ultimately launched prices up to recover a technical objective at $820.

Also read: CoinAgenda Brings Blockchain Leaders to Vegas on October 25

Bitcoin Price Technical Analysis

Long-Term Analysis

After prices overcome the psychological trigger zone area among $620 and $650, the current phase points to a technical goal near $820.

According to Elliott Wave Theory, the current movement should reach a higher scenario through the 5th phase, from where profit taking would be considered. The old trendline, started in 2013, could be very useful at this stage because quotes still recognize its reference, reflecting that pioneer bitcoin holders could be back in the action with a big hedging marketplace.

Mid-Term Analysis

According to indicators, prices could climb to the next congestion area at the $800 level. From there, a big bout of profit taking is expected through another lateral sideways market—like the one we had seen since August—without any bear movement.

Instead, traders will capitalize on the idea of a renewed, upward march, building a level of support that should be confirmed during November. B

Bullish consensus is still getting stronger, and many technical analysts are coinciding on the bullish chance for late October, while the late 2016 period could be analyzed into a euphoric bubble beyond $820 in a third technical phase.

Short-Term Analysis

A little flag pattern has launched prices to the up side, overcoming the psychological trigger zone at $650. Now quotes are recovering to their technical objective at $820.

According to Japanese Candlestick Analysis, the prices are going up and the next technical scenario could be a continuous rise backed by fundamental data and political factors. The same-sized field recovered in August 2016, and was followed by a lateral sideways market.

The bitcoin price could be recovered now, and may follow with a similar lateral sideways market again.

What do you think will happen to the bitcoin price? Let us know in the comments below!


Cover image courtesy of MPR News.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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Technical Analysis: Bitcoin Price to Hit $820 Soon?

bitcoin price

If you thought the ride to $640 was exciting, you might be in for a treat. The little flag pattern currently surfacing on bitcoin price charts could launch prices up from a trigger zone that points $820 as a technical goal.

Also read: A Chinese Perspective: BitKan Visits Ukraine Bitcoin Conference

Bitcoin Price Technical Analysis

Long-Term Analysis

After prices recognized a strong support area at $600, volume indicators reflected professional marketplace activity, suggesting that the next stage could be a breakaway psychological trigger among $620 and $650, pointing a technical goal near 820.

According to Elliott Wave Theory, the current movement should reach a higher scenario through the 5th phase, from where a profit taking would be considered.

Mid-Term Analysis

Mathematical indicators are showing the same bullish signs that were present just before the big rally in late May.

However, current prices react with lag, reflecting some handling activity powered by bigger business players possibly implementing their bullish strategies at this level. This situation could only drive the markets to a technical synchronization to the up side, which would propel the bitcoin price into some kind of euphoric bubble.

Short-Term Analysis

A little flag pattern should be seen on the chart, and by the forecasting of its pole, prices would breakaway to the up side over $650, recovering the technical price objective at the $820 level.

According to Japanese candlestick analysis, the bitcoin price should go up, and the next technical scenario could be a continuous rise backed by fundamental data and political factors.

Staff opinion: We believe the bitcoin price will stay in the $630-$640 range for at least a brief period of time before testing higher levels. As usual, barring an unexpected buying frenzy, profit taking will hamper the rise. However, if current conditions remain constant, the lag caused by profit taking will only serve as a temporary hindrance during a larger trend upwards. 

What do you think will happen to the bitcoin price? Let us know in the comments below.


Cover image courtesy of Hargreaves Lansdown.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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Bitcoin Price: Markets Still Set for Rally After Sustained Highs

finance district

The bitcoin price is approaching a trigger zone at $620 while bullish consensus gets stronger, suggesting that a big rally remains a real possibility in the near future.

Also read: Antshares Raises Millions in ICO, Partners with Microsoft 

Bitcoin Price Technical Analysis

Long-Term Analysis

Prices recognized a strong support area at $600, and while bullish consensus gets stronger on the idea of higher quotes, the action is going back to the old trend line channel started in 2013. This movement reinforces all technical objectives over $820 for the end of 2016.

Volume indicators reflect a professional marketplace activity, suggesting that the next stage could be a breakaway psychological trigger among $620 and $650.

Mid-Term Analysis

Mathematical indicators show several bullish signs, but prices aren’t reacting normally, hinting at some handling activity powered by bigger business players.

This situation could only drive the market to a technical synchronization to the up-side, which should even take prices to some kind of bubble.

Short-Term Analysis

According to Japanese candlestick analysis, prices will go up, and the next technical scenario could be a new rise from the $620-$650 area to the $820 zone.

Such a movement would take prices across the same sized field the quotes had just recovered last August and sustained for the last two months projected into the nearby weeks.

Staff opinion: We believe the markets will sustain current bitcoin prices in the $610-$620 range for the time being, possibly sparking a rally in the next days or weeks that will push the price to a level near current technical indicators. Once that occurs, we expect profit taking to push the price downwards, which could either establish a new floor or act as a temporary lull in a larger bull rally. 

What do you think will happen to the bitcoin price? Let us know in the comments below.


Cover image courtesy of Wikimedia Commons.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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Technical Analysis: Bitcoin Price Still Bullish, $820 Expected

Bitcoin price

The bitcoin price has stayed at the same level all week. However, the market has been building a technical trigger and adding bullish consensus, which has sustained all factors that back the next rally from $650 to $820.

Also read: Bitcoin Price Volatility Exciting Bulls, Rally Still Expected

Technical Analysis: Cycle Synchronization to Spark Rally to $820

Long-Term Analysis

Fundamentals and political factors promote the next rally, which is expected to increase the bitcoin price $650 to $820. From the current support level determined in the $580 $600 range, bullish consensus allows a sustained, upward movement that will probably ignore every intermediate resistance from the present technical zone to $820.

A new cycle has begun, with the original upward-sloping trendline from 2013 still driving action to trigger prices among $600 and $650 from where the rally is calculated.

Mid-Term Analysis

In the current cycle, price quotes near the technical axis attracts action to a smooth rising line that sometimes causes technical corrections to the up side. A similar movement happened in late May 2016.

These days, a longer than expected lateral sideways movement has driven the figures away from that line. We can expect the next synchronization to work as a technical trigger, which would send the bitcoin price $650, and then higher to the $820 stage.

Short-Term Analysis

Mathematical indicators are turning upwards again. Japanese Candlestick Analysis reflects that even with some bearish activity, a theoretical technical trigger could be expected in the $620 $650 area.

Traders should consider some options with bull-spread strategies, considering that every intermediate resistance currently looks like a vertical rolling opportunity, giving many small traders the chance to resize their positions.

What do you think will happen to the bitcoin price? Let us know in the comments below.


Cover image courtesy of The Art of Chart.

This technical analysis is meant for informational purposes only. Bitcoinist is not responsible for any gains or losses incurred while trading bitcoin.

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