XLM/BTC- 5Month Study - Ceiling Breakout or Drop Beyond Support?Hi guys,
Quick XLM analysis/update.
Elliot Wave ABC correction currently underway. Based on XLM’s overall fib retracement history, it seems to be quite apparent that XLM will see a retracement to 61.8% fib level in relation to previous impulse. This coincides with EMA55, EMA200 and happens at the end of a 5-month long triangle formation. In order to succeed in reaching targets (below), XLM must break-out of triangle ceiling, if it fails to do this and instead kisses the upper triangle resistance we will see further retracement to 78.6% fib level. This "could" stir up some trouble for XLM as 78.6% fib retracement could potentially mean breaking the support of the triangle and seeing lower-lows. However, this is not a likely scenario, as the market as a whole has been showing signs of improvement and bullish sentiment from investors. So far any, and every correction since the turn has been perfectly aligned with a standard bull market.
Buy-In range = .00003250-.00003500
Target #1 = .00004726
Target #2 = .00005100
Target #3 = .00005650
Stop Loss = .00002920
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only. it should not be considered financial advice***
BEST
VEN April 17, 2018 - BEAR MARKET WINNER CONTINUES UPWARD!!!See chart for embedded notes on where I believe VEN will lead next. This one has been a huge winner during the meltdown so what will it do now that the Crypto's are much stronger? I expect VEN continues to set records but lets see what the chart can tell us.
Genesis Vision - Will it even test the .0027822 support again?I'm thinking if it does go down to the .0027822 level again it will bounce.
Bitcoin: BTCUST Bitcoin Spreads Her Wings+Which Exchange is BestBitcoin: Which Exchange is Best/Most Reliable for trades, stops, and signals? (next buy-points at bottom)
Bitcoin Update Coinbase/Bitstamp and Bitfinex
The ridiculous situation of multiple prices across multiple competing exchanges has once more caused chaos with stops yesterday if they were raised too tight under 9900. The subsequent low on Coinbase was 9914 and was 9902 on Bitstamp - but on Bitfinex it was 9874 which was just crap. Mofo. Sorry for that if you traded this exchange. Coinbase levels have been most reliable for trading signals and stops and Bitstamp too. This constant change is maddening - for all of us and entails twice as much work as simply following one feed as well as the futures market too. For sure Coinbase is less whippy than Bitfinex or Bitstamp and so is better for placing stops - look at the smoothness of the chart on 5 minutes here compared to others - and yet the highest price achieved today was 10307 on Coinbase compared to 10300 on Bitstamp and 10271 lowest high of the 3 on Bitfinex. So Bitfinex loses on best price achieved and Coinbase wins with Bitstamp in middle. The lowest lows of the day were once again made on Bitfinex at 9670, whilst Coinbase had the highest low of the day at 9729 with Bitstamp in the middle again at 9707. Once again Bitfinex loses with Bitstamp in the middle. And then the last raised stop yesterday at 'under 9900' - if you were unlucky enough to trade Bitfinex and had it closer than 25 points under this level it got taken - and yet on the other 2 exchanges the stop stayed good. So yet again Bitfinex fails on every level. Coinbase is best right now, with Bitstamp in the middle and Bitfinex a sorry third.
So am quitting Bitfinex as it's too treacherous with stops. Volatility can can ruin decent calls with 'good' stops. Coinbase is the least volatile, so better for stops, usually.
Last Update: 16:34 est
Anyway, for traders on the less volatile 2 out 3 exchanges who are still long, Bitcoin still looks just fine whilst it holds up above the bigger dynamic and can let it run and raise stops under the next correction low when we get it, except on Bitfinex which probably needs stops at least 50 below/above any similar stop on Coinbase to stay safe. Still believe there is much more upside to come whilst Bitcoin holds that upper dynamic support.
Saturday Update: Bitcoin Spreads her Wings
Bitcoin has had another positive session overnight as Far Eastern buyers begin to return to the market. FUD is so last year. Bitcoin is up 2000 points since the break at 8888 and we were lucky to get both that initial break and the lows of yesterday at 9700 to get long again if stopped out at 9900 on the first long. Every point of upside from the lows so far has been traded and won. We also shorted right down to the exact lows and actually closed out right on the lows of the year before going long again at 6200. Every point of the rally from 6200 to 10800 has been traded and won despite a brief wobble at the 9000 level - but even that break out at 8888 on Coinbase chart was followed and traded faithfully as the patterns on the chart dictated. And the pattern on this chart is saying 12192 minimum over the next 2 to 3 days. In very near term it's had a good run overnight and has hit the resistance line at 10829 after making a high at 10890. It's now unwinding a little but using an old dynamic resistance line as a support as it does so, line-dancing Bitcoin style. Whilst it holds up off that line it's strong still but whilst unable to beat and regain the blue line at 10829 and on up to the new day's highs at 10890 it's effectively in neutral in the very near term- but still with a strong undertone. It can spend some time flipping between the dynamic at 10648-10586 as support and the highs at 10829-10890 as resistance but will ultimately break to the updside. And on downside it will have too break below 10586 to trigger further selling back to 10307 support line where it becomes another buy.
Top 5 Coins With Strongest Recovery RecentlyOn the 6th of February, the Bitcoin has tested the lowest price since correction from USD 20k resistance started. Price dropped to USD 5.9k and corrected upwards, while during the past few days it reached USD 8K, re-gaining 40% against the USD. Is it a quite strong recovery and perhaps the end of correction?
Nevertheless, some coins corrected up much stronger than the bitcoin and below is the chart presenting the winners.
INTERNET OF PEOPLE (50% Recovery against the Bitcoin)
FUNFAIR (43% Recovery against the Bitcoin)
DECENTRALAND (37% Recovery against the Bitcoin)
POWER LEDGER (34% Recovery against the Bitcoin)
GLOBAL CURRENCY RESERVE (32% Recovery against the Bitcoin)
CUP & HANDLE BUYING OPPORTUNITY [potential]a cup and handle formation may be brewing and if all goes as planned, this may be the beginning of a very steep and fast upshot.
buying opportunity but keep a close selling limit in case this bad boy decides to go the other way.
MYSTBTC - Bittrex Dear Friends
Only invest money that you can afford to hold
Happy Trading
Stop loss needed
SK
Comments Are Appreciable
Jazak Allah Khair
XDN/BTC - Bittrex Go GET It ON TimeDear Friends
Plan your trade + Trade your plan + keep your losses to a minimum + Buy back in deep = Profitable Trader
Stop loss not needed but Recommended
Sk
Comments Are Appreciable
Jazak Allah Khair
Will we get a breakout today?Hey guys!
Just spotted this today and I want to see what your thoughts are on this USDJPY H1 triangle break.
Are you keeping an eye on this?
We think you should!
We have the recommend long or short depending on what this pair wants to do in the next few hours. We will keep you up-to-date on this as the day goes.
This may be a good trade to take at the beginning of next week but we will have to wait and see.
Let us know what you see!
Thanks,
-Team/ Trading Strategy Guides
Short Juno: Target Price 37.21Arbitrage Band and novice band rsi lines are topped out. It has to have a mean reversion into the center of our novice band which is the bright blue line.