Analysis: Ripple, Dash, Stellar Lumens, Bytecoin & Gnosis
Ripple gave a false break (highlighted) when it closed above the arc. It was a buy signal which I tweeted, but then price fell back to the arc again. It happens. There is a 1×1 from the swing low which should support price at .32 (assuming the bull market is still intact). Below there is a good place for a stop, IMHO.
DASH found support at the top of the square and is trying again to penetrate the 4th arc. A buy signal will be given when/if price closes above the arc.
I looked at this chart the other day in response to a readers query (BCNBTC). At the time I thought that it might take a couple weeks to recover, but just two days later it is testing the ATH again. The 5th arc is close though at 25. Alas, Kraken does not support this coin so I won’t cover it very often.
This coin doesn’t get much coverage, so it has not been on my radar screen. But I see it has done quite well. 5th arc approaches at ~ $230
XLM has been a bit of a mystery to me. IMHO it was clearly a coin to be in. It has been moving up steadily for weeks, but even when it was flirting with an all time high it was still getting no volume. I almost gave up on it. I actually entered a sell order last night before I slept. But then I looked at the chart again and decided to cancel the sell order, because the chart was simply too bullish to sell. Then I woke up to see a new ATH and a 5th arc in sight at ~ .075. Life is good…
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.