Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple) | Hacked: Hacking Finance
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Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple)

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Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple)

Introduction

This article was posted on Saturday, 10:43, UTC.

Bitcoin

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Bitcoin has been rallying for what seems like forever, but there is a fairly significant set of resistances in the chart that will likely be reached today or tomorrow.  A long-term 5th arc (black) and shorter-term arcs (the green 2nd arc will likely yield, but the next two will likely have a lot of stopping power, especially the last one.  The 3rd arc and 5th arcs intersect exactly at energy point.  Energy point is TODAY.  Likely not a coincidence.

Ethereum Classic

Ethereum Classic has had a decent rally, we now have a target of  ~ $8.5

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Ethereum

Last time we took a close look at ETH it was bouncing off support at 90.  Wow – what a difference a day makes.  Traders should take some profits soon.  IMHO this vertical rally will not last much longer.

Litecoin

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This coin has been a bit of a disappointment. It rallied where expected, but the rally has so far been very weak.  Support is likely to be found at the 1×1 angle (highlighted).

Augur

REP has been moving sideways a long time, but it is reaching both the end of the setup and an energy point.  Watch it carefully…

Monero

XMR has rallied back to its high of several weeks ago. If it can close above the arc, the 3rd arc will be the next target at ~$34.

Ripple

Ripple fell to the top of square, indicated by the arrow, exactly on the end of the square.  That was likely a good buying opportunity, as I tweeted at the time.

Zcash

ZEC is currently trading within a 2nd arc pair.  If/when it can close above the arc, a next target will be ~ $115.

Remember:  The author is a trader who is subject to all manner of error in judgment.  Do your own research, and be prepared to take full responsibility for your own trades.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Jim Fredrickson

Jim Fredrickson

Jim has an MBA from the University of Southern California. He has had a long career in both Corporate Finance and IT. Along the way he discovered that trading was a vehicle with great promise, but struggled for a long time without a mentor. After having been knocked down many times and having struggled to get back up, he had an epiphany and realized that geometry was a solution. He shares his experience here. If you do well as a result of suggestions made here, feel free to say thank you :) BTC: 1FUq3GB1Q8zz2JpuBr7YHzVBKnaWoxgmya Follow him on Twitter (@jimfred1276) or email him at jimfred1276 at gmail.

Comments
  • user

    AUTHOR ridesisapis

    Posted on 11:06 am May 20, 2017.

    shouldn’t we hear buy signal for ETH as of yesterday? it was extremely painful, especially for newbies watching the graph as last articles has suggested “i would not buy this yet” and than wait for “104$” price target without immediate reaction from here

  • user

    AUTHOR majykman

    Posted on 11:08 am May 20, 2017.

    What chart do you use/ where do you get them with this view? Thanks

  • user

    AUTHOR ridesisapis

    Posted on 11:15 am May 20, 2017.

    are these bad news for ones who invested in ETH at yesterday’s top ~139 “IMHO this vertical rally will not last much longer” and LTC “This coin has been a bit of a disappointment” ? I really think that “staying sharp in todays market” was worth of a post here yesterday, don’t take me wrong

  • user

    AUTHOR ridesisapis

    Posted on 11:16 am May 20, 2017.

    ~130$ sorry, anyway thanks for your posts and analysis, this things happen

    • user

      AUTHOR Jim Fredrickson

      Posted on 12:34 pm May 20, 2017.

      $130 was given as a target for eth last week, I believe. It got to $129… As for LTC, it will likely do well in the not-distant future for those with a bit of patience.

      We all hate buying tops and selling bottoms, but we all do it from time to time. Me too.

      My columns here are not meant to dispense specific exit/entry points. There are too many markets for me to cover them all adequately. This is essentially a blog right? Also, I don’t know what readers trading objectives or timeframes are. Some trade 5 minute charts, some trade weekly charts.

      I will likely launch a new service in the not-distant future that will offer additional services for those who want/need more specific trading tips than are possible in a blog format.

      Follow me on twitter for now…

  • user

    AUTHOR tja

    Posted on 11:30 am May 20, 2017.

    Hi Jim,
    I’m new to this. Can you tell me, what an energy point means? What should I do, if it reaches an energy point? Thank you

    • user

      AUTHOR Jim Fredrickson

      Posted on 12:36 pm May 20, 2017.

      Energy point is just a time when something is likely to happen. Think of it like a full moon or a fibonacci extension in time. Just a time-frame to be alert to a trading opportunity that might develop.

  • user

    AUTHOR Skidoo850

    Posted on 11:45 am May 20, 2017.

    How do you think Ripple will go over the next few weeks?

    • user

      AUTHOR Jim Fredrickson

      Posted on 12:37 pm May 20, 2017.

      A new rally seems to have begun. Likely will make a new ATH, then correct hard. We will see…

  • user

    AUTHOR parmmd

    Posted on 1:26 pm May 20, 2017.

    Hello. Thanks for your insight. Any comments on stellar lumens ? Whats a good price objective.?

    Thanks

    • user

      AUTHOR Jim Fredrickson

      Posted on 1:45 pm May 20, 2017.

      I like Stellar. I am surprised it has been so quiet. It will wake up soon I imagine. Target of
      .085 seems reasonable to me.

  • user

    AUTHOR mzvyga

    Posted on 1:35 pm May 20, 2017.

    Привет Jim , спасибо за твои публикации!!! они реально помогают зарабатывать.
    Ты делаешь большое дело и Бог наградит тебя своей благодатью))) ты делаешь счастливыми людей и эти эмоции и радость снисходят на тебя! Большое спасибо!!!!
    Thank you very much my friend!

  • user

    AUTHOR Iggy1994

    Posted on 6:14 pm May 20, 2017.

    JIm, I made a mistake and purchased a bunch of BCN (Bytecoin) couple days when the market was up 280%, since next day it plunged to -40% but since has been slowly recovering and is now at +5%. should i hold?

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:43 pm May 20, 2017.

      Bytecoin is not traded at kraken, so I don’t actively follow it. But I did a quick and dirty look at BCNXBT. While it is clear you bought a top, it also seems likely that if you can afford to hold it for awhile you will get your money back, and then some. May take a bit of time, but we aren’t talking years – weeks more likely.

  • user

    AUTHOR D1DT

    Posted on 7:08 pm May 20, 2017.

    Great analysis as always Jim! (And great to hear you are considering a new/additional service) 😉

  • user

    AUTHOR thoth

    Posted on 6:22 am May 21, 2017.

    Ewww

    I was trading loads of ETH between that .047-.051 only to move to LTC around .0135…

    Worked out well, Now I bag hold till next week or so in LTC

    LOL

  • user

    AUTHOR vishindia3006

    Posted on 10:12 am May 21, 2017.

    Hey Jim. I’ve found your insights very helpful. Had a question. I have 0.6 btc. Should I trade it in any coin or keep it as such. My time frame is 3 months but can go longer. Currently I mainly have XRP and BTC and a few ETC, LTC, DCR, XEM and GNT. Please help. I don’t want to miss out on profits.

    • user

      AUTHOR Jim Fredrickson

      Posted on 1:31 am May 22, 2017.

      It’s an opinion question… IMHO 0.6 BTC has a better chance of doubling in the next 3 months in one of the altcoins. LTC, ETH, or XRP are all great longer term coins.

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