Hacked: Hacking Finance

Analysis

Weekly Analysis of Cryptocurrencies

Posted on .

Weekly Analysis of Cryptocurrencies

Introduction

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…

// -- Discuss and ask questions in our community on Workplace. Don't have an account? Send Jonas Borchgrevink an email -- //

Ethereum

Ethereum has not had a material change since yesterday’s column. It continues to meander through a 3rd arc pair. I have highlighted a few of the places that pricetime has respected the setup. An energy time is approaching, due tomorrow. Wait for it – we might get a buy signal soon.

Litecoin

Litecoin continues to be a favorite trade of mine this week. In the screen capture below I have a very short term setup, and a long-term setup. You will note that the first highlighted section shows where price was repelled by the 1st arc of a long-term setup, at almost the top of the short term setup. The red arrow indicates where the swing low was exactly on the end of the short-term setup. This marked the beginning of the next swing up.

Price has been fluctuating around the 1st arc of the long term setup. As of this writing, price is still above the arc. Target seems to be ~ $15.20.

ZECUSD

I continue to expect a rally out of this asset in the near future. It has cleared resistance. There is an energy point due tomorrow. I wonder if that will be an acceleration? Time will tell. Wait for confirmation before buying this asset…

Ripple

Ripple has been basing for some time. As pointed out in yesterday’s column, the coin bounced off a 3×1 Gann Fan the other day, which seems to have provided the juice for the next rally. An energy time is due “now”. Watch this closely. If this gets going, it could be exciting. Resistance is seen at .05 and .075.

ETCUSD

After having bounced off a 4×1 Gann Fan for several days, ETCUSD rallied sharply to the 3×1 Gann Fan. This is still a buy, IMHO, as the 5th arc on this setup is still a fair distance away. An energy point due a few days from now suggest a possible target of $4.60 if the rally resumes.

Monero

Monero has been trading sideways for a month or so. But that might change soon. An energy point is due in 2 days time, and the coin is challenging a 1st arc of a long-term setup. When/if we get a buy signal on this chart, top-of-the -square resistance is in the $26 range.

Dash

Like several other coins, Dash has an energy point on it’s chart in 2 days (4/24). My guess is that an acceleration point will likely ensue. This screenshot shows a few of the places pricetime has respected the setup. If an acceleration begins in a day or two, the next arc resistance is in the $100 area.

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 Tfmonzo

    Posted on 5:40 pm April 22, 2017.

    Is there a source document for this type of analysis? Like a whitepaper or something along those lines.

    • user

      AUTHOR Jim Fredrickson

      Posted on 2:20 am April 23, 2017.

      Not that I know of. I might write one some day. I put most of my system together over the years as I chased down the works of Gann, Cowan, Beann and Bayer. I’m not sure I have emulated any of them “well” but in the process of trying the system got fairly good…

  • user

    AUTHOR And

    Posted on 8:28 pm April 22, 2017.

    Thanks Jim! I love your analysis! I will wait for you to give us a buy signal(s) for some of these cryptocurrencies 😉

  • user

    AUTHOR Jim Fredrickson

    Posted on 2:17 am April 23, 2017.

    ltc just hit $15. i have exited the trade we entered at at $3.50. Looking for next coin to trade…

  • View Comments (4) ...
    Navigation
    DAX: Short-Term Buy   DAX, 4-Hour Chart Analysis The German…