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

Bitcoin

Bitcoin

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

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

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.

Author:
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
  • 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

  • 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

    • $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…

    • 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.

  • 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!

  • 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?

    • 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.

  • 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

  • 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.

    • 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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