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

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

Introduction

Bitcoin

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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 $96 seems reasonable at this juncture.

Ethereum Classic

In our last update we identified the area highlighted in yellow as a likely turning point.  Note that this coin entered a long-term arc pair a couple weeks ago, moved sideways, and just exited the pair.  This is pretty bullish, IMHO.

Ethereum

In the recent past we pointed out that the 2×1 Gann angle (red) has provided pretty good support for some time now.  It has done so again. A target of $104 now seems reasonable.

Litecoin

In our last column we highlighted Litecoin as one of our favorite trades.  We tweeted that the area highlighted in yellow was a buy. At this point it seems likely that the 1st arc pair will yield in short order.  The next energy point  in a few days suggests a $40 target is reasonable.

Stellar Lumens

Stellar Lumens remains a favorite trade, despite the fact that it has been overshadowed by its XRP sibling. As you can see, it is on the cusp of exiting an arc that has been holding it back for a few days. Mind you, it has not yet closed above the arc yet! If it gets through the arc, it could go to .08-.1 from here.

Ripple

I’m sure everyone here knows that Ripple had a great week.  The fact that it has re-penetrated the arc that knocked it down is mildly bullish, though the top of square is resistance.  However, it could conceivably take a few days get through the arcs before it can mount a serious advance again.

Zcash

ZEC has been traversing a long term arc pair, sideways, for a couple weeks. An energy point is at hand, and the end of the arc pair is also close by.  When it touches the arc it will make a choice – while my guess is it will break upwards, I suggest waiting for confirmation.

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 MSNP05

    Posted on 3:40 pm May 19, 2017.

    Ethereum is at 112 …do you recommend holding or selling ? Your analysis have been so valuable to our family. Thank you so much.

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:00 pm May 19, 2017.

      Long term it is still a great hold. Short-term traders should take profits here.

  • user

    AUTHOR Joshnj82

    Posted on 10:21 pm May 19, 2017.

    Jim, are you still expecting LTC to surge or does the last session give reason for hesitation? I only ask b/c most majors did well while LTC was flat and left behind.

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:03 pm May 19, 2017.

      Yes LTC has been mildly disappointing. I still expect it to do well in the not-distant future, but wish some of my TC holdings had been in ETH the past 2 days instead. Oh well, there will always be another trade tomorrow.

  • user

    AUTHOR Joshnj82

    Posted on 12:16 am May 20, 2017.

    I appreciate the response Jim and hope LTC got the memo that she’s supposed to move up not down. Let’s hope she’s just a bit slower than her friends. I also wish to receive a mulligan for the day and join in on the ETH party I completely missed. Unfortunately, I used up all my mulligans on last round on the course and don’t think exchanges offer them anyway 🙁 Let’s hope this time tomorrow I’m writing a celebratory response and a salud of cold ones. Enjoy the weekend good sir.

  • user

    AUTHOR xrolo24x

    Posted on 6:38 am May 20, 2017.

    Thank you Jim. Wondering if your team can do an analysis on the Bancor ICO. We curious about it

  • user

    AUTHOR jacobss

    Posted on 9:23 pm May 20, 2017.

    hi Jim,
    You are fantastic and I have been investing a lot based on your analyses.
    Very, very, very favourable for me.
    Where do you get these diagrams from, can I get life updates. Now I print them out and put lines in them myself.
    I wish I had access of them any time of the day.
    Thanks for all you great analyses and please keep on doing this.
    Jack

    • user

      AUTHOR Jim Fredrickson

      Posted on 11:21 pm May 20, 2017.

      Follow me on twitter (@jimfred1276). I often tweet if i see something happening in real-time. I will be launching a new service in the near future.

  • View Comments (8) ...
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