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Weekly Altcoin & Bitcoin Analysis: Time to Short Bitcoin?

Posted on May 21st, 2017.

It was an exciting week for crypto traders. It seems like there are an ever-increasing number of traders joining the party doesn’t it?  Given that just a year ago there was just a handful of traders compared to now, and we still have not even scratched the surface of the number of traders out there still trading Forex exclusively, the...

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Analysis

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

Posted on May 20th, 2017.

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...

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Analysis

Trading Analysis: Bitcoin, Litecoin, Dash, Ripple, Ethereum, Stellar Lumens & Zcash

Posted on May 19th, 2017.

Bitcoin Bitcoin continues it’s epic run toward $2100.  I note that there is an energy point on the daily chart tomorrow, and that a 5th arc is in plain sight at $2100.  Traders might want to take some profits there. DASH In our last update we identified the top of the square (highlighted) as likely support, and indeed it was.  Target of...

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Analysis

Analysis: Watch Litecoin again

Posted on May 18th, 2017.

Litecoin Litecoin has successfully closed above the arc that had been dragging it down.  I believe the low is in and a rally will ensue to at least $40. Stellar Lumens Stellar Lumens had had a huge advance, stopped not once but twice by the top of this setup. We are now below the 5th arc again, and just below (at?) the 2×1 angle...

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Analysis

Time to Sell Ripple? Analysis: Litecoin, Stellar Lumens, Bitcoin, Ethereum, Dash & Zcash

Posted on May 17th, 2017.

Litecoin I will go out on a limb here and say it’s time to buy ltc. There is a little bit of room to the Fibonacci vortex support, but not much.  Firm support ~ $23.  Lets look at the Gann setup: Here the picture is the same.  There was a spike low exactly at the end of the square, but recovered quickly to above the 5th square.  I...

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Analysis

Analysis: Money is Still Pouring In – Bitcoin, Litecoin, Stellar Lumens, Augur, Dash and Ethereum

Posted on May 14th, 2017.

As you all must know by now, I am a trader at heart, not an investor.  It’s always been difficult for me to buy-and-hold, because I feel like I can see where corrections will take place, so why not sell if you know its coming? But these last few days I am having a slight change of heart.  There is so much money pouring into the...

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Analysis

Analysis of Stellar Lumens, Bitcoin, Ethereum, Monero, Litecoin and Ripple

Posted on May 11th, 2017.

Cryptocurrencies ready for a third wave? This is not the time and place for an in-depth lesson on Elliot Wave Theory.  There are numerous websites that offer these lessons freely, and often times the teacher is more astute than I in this art.  If you are a trader, you owe it to yourself to learn this craft, as it is a great tool that is...

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Analysis

Daily Analysis: Bitcoin Tops $1800 as Stocks Drift To New Highs

Posted on May 9th, 2017.

Tuesday Market Recap Asset Current Value Daily Change S&P 500 2398 0.35% DAX 12758 0.61% WTI Crude Oil 46.09 0.10% GOLD 1221.00 -0.84% Bitcoin 1790 7.45% EUR/USD 1.0891 -0.36%   Global stock markets are in the green again as European and Japanese stocks are on the rise, with the Yen and the Euro both losing ground to the Dollar....

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Cryptocurrencies

Cryptocurrency Analysis of Litecoin, Dash, Monero, and Ethereum Classic

Posted on May 3rd, 2017.

Litecoin Litecoin is testing a 3rd arc on the 3 hour chart as we speak. This is hardly a buy signal, but if it gets through the arc, we will likely see a rally over the next week or so to ~ $25. There are 2 energy points due later in the day. It is possible that the coin will break down. But in this era of a seemingly endless supply of...

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Analysis

Ethereum, ETCUSD and ZECUSD looking tired

Posted on April 30th, 2017.

In my last column I suggested that ethusd would be going higher.  If you take a look at the picture I sent in with that column, you can see that at that time, pricetime was at the high point indicated by the red arrow in the picture below. Price was above the 2nd of the 4th arc pair.  This is an excellent indication of the way markets...

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Analysis

Weekly Analysis: Ethereum, Litecoin, Monero, Bitcoin, Augur & Ripple

Posted on April 29th, 2017.

This week was outstanding for cryptocurrencies. And, I expect next week will be even more so. I will give a brief rundown of many of the more actively traded coins, ending with my favorite of the day. ETCUSD This sleeper has rallied hard all week. She got past the $4 mark, but is staring at a 5th arc at ~ $5.70.  This was a great catch...

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Analysis

Ethereum, Bitcoin, Litecoin & DASH Analysis

Posted on April 24th, 2017.

Ethereum Regular readers will know that we have been waiting several days for ETH to pass through an arc pair. As shown in the picture below, that has happened, and the asset broke upwards as soon as it was able to. This is a rather bullish development. The next arc pair is in the area of $62, and will likely be heading there. Bitcoin As...

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Analysis

Weekly Analysis: Litecoin, France, and North Korea in the Spotlight

Posted on April 23rd, 2017.

  Asset Current Value Weekly Change S&P 500 2345 0.85% DAX 12105 -0.50% WTI Crude Oil 49.61 -8.12% GOLD 1285.50 -1.14% Bitcoin 1229 4.19% EUR/USD 1.0728 1.21%    5 Things to Watch Next Week How will the market react to the French election? As the last polls before the first round of the presidential election show a move towards...

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Analysis

Weekly Analysis of Cryptocurrencies

Posted on April 22nd, 2017.

Bitcoin In yesterday’s column I pointed out that on a longer-term setup on the daily chart, we had a buy signal. But I neglected to point out that on a shorter-term setup on the daily chart, it was not yet given. On the shorter-term setup, we are just below a 2nd arc of a 3rd pair. Trade accordingly… Ethereum Ethereum has not...

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Analysis

Ethereum, Litecoin and Bitcoin Analysis

Posted on April 19th, 2017.

Sometimes it seems like reading charts is like tracking the weather. It seems much easier to track the course of a hurricane than it is to predict when one will start, when it’s quiet outside. Likewise, sideways movement is challenging not just because it’s so easy to lose money trading it, but because it’s hard to know...

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Analysis

Analysis of Ethereum and Litecoin

Posted on April 17th, 2017.

Ethereum ETH has been bumping along under the weight of a 3rd arc pair on a longer-term chart for the past few days. There is an energy point approaching. Which way will it likely break? Up or down? The first thing I notice is that pricetime is still below the 3rd arc, so that would be a red flag urging caution. On the other hand, price...

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Analysis

Weekend update for ETHXBT, XRPXBT, Litecoin and Bitcoin

Posted on April 15th, 2017.

The week passed by in a surprisingly different manner than I had been expecting. One week ago I thought that it was going to be an exciting week of fireworks in many of the coin markets. But overall, it was a week of sideways movements for the most part, with an awakening just in the past 2 days or so. I was therefore enticed to look a...

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Analysis

Analysis: Bitcoin is weak, Litecoin and Ethereum look strong

Posted on April 13th, 2017.

Bitcoin Bitcoin had been puzzling me. I had expected a more robust week for this coin but there it was – just staying still. There is an energy date for the coin due today, which I had been thinking might be a high at 1320 or perhaps 1440. On closer inspection of the chart I saw that there was a long wick on an obscure candle which...

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Analysis

Coming Week: Stocks Mostly Bullish, Cryptocurrencies Going for New Records?

Posted on April 9th, 2017.

Asset Current Value Weekly Change S&P 500 2355 -0.30% DAX 12225 -0.71% WTI Crude Oil 52.23 2.78% GOLD 1257.50 0.81% Bitcoin 1180 9.20% EUR/USD 1.0599 -0.53%    5 Things to Watch Next Week Will the Syrian situation escalate further? Although wars are far from being 100% negative for stocks, the Syrian conflict has the potential of...

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Analysis

Analysis of Ethereum, Bitcoin, Monero, Zcash, Litecoin & Ripple

Posted on April 8th, 2017.

Ethereum Ethereum continues to drift downwards as it bounces off 2nd arc support. It still paints a (relatively) bullish long-term picture, because it is on the sunny side of the arc pair, and above the 1×1 Gann angle (blue 45 degree line). My guess at the present is that this will continue for a couple more days until it hits the...