FORK
(ZCL) Z Classic quick check in: Fundamental & Technical AnalysisThis is going to be a quick one, purely from the fact that BITTREX:ZCLBTC has me utterly baffled right now!
The technical:
48 EMA is waaaaaay below 192 EMA, but it's leveling out!
As can be seen with the dual offset bollingers, were seeing some serious consolidation.
MACD & SSRSI have both formed new swing lows
Weve broken through S1 & S2, will test R1 within a few hours
And now for what really has me scratching my head, the Fundamentals !!!
Folks, I'll be real...this is plain weird.
It's february 27th 1:45PM EST
The Bitcoin Private fork is taking its snapshot sometime tomorrow (block height has yet to be announced).
Never before have I seen a crypto in the 24 hours prior to a snapshot in this much of a slump. I suppose that the community response to the announced BTCP fork could simply be incredibly lackluster, but in my experience it's pretty likely that we will see a serious uptick in volume and an allout scramble for BITTREX:ZCLBTC sending the price for a pretty heavy rally.
Could this simply never happen and the current downtrend continues on its way?
Sure, but I have serious doubts of such a flat response to a fork, no matter its community impact.
Remember though, if you just plan on riding a fork rally you should ALWAYS exit your position as soon as the snapshot is taken to avoid getting buried in the deluge of people offloading their coins post fork.
If on the other hand you are actually taking advantage of the fork, HODL for dear life. It may take a day or two, but most coins recover post fork; it's just a matter of waiting for the sell off to finish.
*** Note that the MACD RSI crossover strategy I've written has the RSI hidden, and that the earning results are irrelevant as it used for cleaning up major trends NOT buys and sells.
*** The dual Stochastic/Stochastic RSI source code can be found on my page if you're in need of a simple space saving indicator!
This analysis is meant for purely educational purposes, and whether you choose to trade on it or not is entirely on you!
Remember, TA is neither investment advice nor a guaranteed science, but rather an informed attempt at prediction based of historical and emerging patterns!
Good luck and happy trading fellow cryptoheads!
Austin Doyle
CTO
Crypto Playhouse
Gold - GC 1 hourI have a cool mate in my ForkTrading Group. He is trying things out, ask questions, sends me charts and throws comments in the blog section.
Hi has quiet a good eye.
And he's willing to learn.
Today I got a chart about Gold from him. I gave him feedback, attached with this two charts.
This one is a middle view of both.
First I always want some context. Especially if I go down below Daily timeframes.
And then I look for details.
Like the Sine-Wave, Intention, S&R etc.
Here's my thinking about a trade in GC 1H:
If anything, I would wait for a pullback in this hourly timeframe to go short.
What do you think?
Post your comment and if you like to learn to earn, get my free ForkTrading BLUEPRINT.
P!
Emilio
ZCLASSIC REGRESSION We have a critical burble point can lead the price to all time high again.
Regards,
Mohsen
CL - Crude at resistanceCrude arrived at the resistance level, where price broke down 2018-02-07.
We know that if price is missing the L-MLH, we have a Hagopian cooking according to the ForkTrading BLUEPRINT rules.
If this is the case, then a move below the yellow circled low point is very possible, ending this Pendulum up-swing on a higher timescale basis.
P!
Don't miss your Free ForkTrading BLUEPRINT Course. See footer in this post.
ZCL - Back in uptrend !ZCL has seem to have bounced from its most recent dip back into the uptrend channel.
If bittrex announce support for the fork we could see a MASSIVE run but as it stand we have no announcement yet. With that being said I feel it will follow an Elliot wave pattern on its current trajectory, until we hear an announcement that is.
ZCL proposal - uptrend ?ZCL has bounced from its decline to back in the uptrend. It should follow this trend in an Elliot wave formation on the way up. We should see larger increases if Bittrex announce support for the fork, which in turn may break the trend line and go on a RUN !! However, for now ZCL seems to be solid and climbing.
Bitcoin - Clear Buy is calling (soon)Bitcoin had a pullback yesterday where it lost around 7%. The market can't decide where they want to go so til we got some TA conformation or some good/bad news I'm keeping my fingers out of the game til my idea of a retracement to 8900 does it's thing in the next couple days.
(I'm keeping you updated, so leave a sub to stay informed)
ETCBTC strong profit potential till 5th of May - ENTRY POINTSThere is a fork on 5th of May, so this coin is strong till that date, maybe we can see an ABC correction and start a new wave, till 5th I am bullish on this coin but I rather wait for a slight correction to enter to be safe =)
I will enter partially to this trade starting from 0.003 satoshi
LTC plans to make a little step back after the fork!I'm not a pro trader but i believe that the next week for LTC will be a downtrend bringer at least until all the LCC are claimed and we will have a clear path of this new fork to.
ETC - whats next?Hello!
I've been looking at the ETC chart for quite a while now.
Looking at the Elliot Waves on 4hr chart, it seems like ETC just finished 4th correction wave and it's preparing for last, 5th wave. It could go up to around 0.0045 sat in next week or so.
MACD and RSI are also showing some positive signals.
Also, we have just entered our last cycle ( I draw the first one from start of the first breakout till the start of next breakout and they seem quite accurate because the next breakout ended just at the end of (3)cycle line) and there is no red candle yet in this one so this could be good signal for last cycle.
Possible target is around 0.0045 sat, at this point (.0045) is also a strong support / resistence line from previous movements.
.....Thoughts?
If you take a look at RSI indicator, you can see that we are swimming around the same level as we were before the start of the first breakout....
Let's hope for the best! ^^
The opportunity to join the upward movementI expect a further rise in the price of ETC a couple of days before the fork
BTCUSD - Above the L-MLH againHere it comes, the rise...
As I said in the weekly outlook on my FTG-Members BLOG (register for free...), you see now price above the L-MLH trying to crawl up.
The brach of the L-MLH last week is a great indication for BTC to rise, since it found support again on a test/retest.
Me ---> Bullish
P!
$KMD & $ZCL Pumps are done, no more buyersKMD Pump short lived, got a 9 sell count on the HR, back to support. ZCL is also done, we should go back to support at .01. There might be another pump next week before the fork on the 29th of Feb. After the fork, ZCL could loose at least 50% of value. Stay safe.
GOLD - GC With a nice tellAs you can see, there's a huge bar screaming at us.
It broke out of a pressure resistance.
I expect it to pull back, just to scare everyone out of this long opportunity.
My ForkTrading Members got a video today, how I would approach it to stalk a trade.
Subscribe and get the videos I do for my FTG tribe (see footer here on TradingView).
P!
ES E-Mini "Forked" In ContextIn earlier centuries, the crowd would had thrown me on a stake if I where to out myself as a "Fork" Evangelist §8-)
The Chart:
You can see clearly, that price respects the lines of the Fork.
For those of you who already attended my free ForkTrading BLUEPRINT, you guys & gals know what I'm talking about.
I expect a retest of the L-MLH, if not a crack.
The red line, is where I sold Put Options many days ago. I sold them there for a huge credit, because I knew where to expect a pause of price (at the WL1), if a sharp down move steer in my face, which it did.
However, this is exactly the reason why I am able to trade with 100% confidence and why I am able to put these high probability trades on, even it looks scary.
The Andrews Pitchfork, the Model of Action/Reaction and solid risk management give me the freedom in Trading that I always needed many years ago.
We will find out how the story will go on...
P!
ZClassic-->free Bitcoin Private info, market overview+targetsDear all,
I am posting here all necessary info and recap regarding ZCL-->free Bitcoin Private hard fork info:
Fork info:
- hard fork date 28.2.2018 (date of snapshot)
- all ZClassic HODLers will receive Bitcoin Private coin free
- ratio 1:1 ZCL to BTCP, as many coins of BTCP you have, the same amount coins of BTCP you receive
- Mainnet launch of BTCP 2 days later
- circulating supply of ZClassic only 3.3 M !
Market overview:
- BTCP focuses on privacy, anonymous transfers, has replay protection
- BTCP will use conservative people which want to use "Bitcoin brand" on privacy transfers and dont want use other coins focusing of privacy like Monero, Verge, etc. "Bitcoin" brand strong here
- BTCP team is very serious and experienced
- 21.2. will be BTCP conference regarding BTCP with devs and engineers
- BTCP team applied for adding BTCP to Binance already !!!
- BTCP longterm price should also rise
- ZCL main volume on Bittrex and Cryptopia
- It seems Bittrex will be accepting new users from next week!
- Bittrex announcement regarding ZCL-->BTCP fork support in week from 19.2. (it seems it will be supported from 90% - it seems ZCL HODLers dont need to transfer ZCL to adequate wallet)
- ZCL is expected to MOON til fork
Targets:
I am more that bullish on ZCL, positive news everywhere around this fork. Conservative target 0.05 sats, bullish 0.1 sats.
Happy trading!
RUT - Superb Example With Pitchforks & RusselHagopian = Price missed to reach the "next line". We can expect a pullback farther then from where price came. (check!)
Pirce is at the upper WL1 (Warning-Line 1), the upper Extreme = Price is extended, stretched. We can expect at least a pullback, or even a move to another extreme, the Lower-Medianline-Parallel (L-MLH). (check!)
In over 80% back to CL (Centerline): Price moves back to balance, to the Centerline in over 80% of all occurrences. (check!)
If price breaks the CL (Centerline), or any other Line of the Pitchfork, then we can expect a Test/Retest. ( check!)
What's next?
We have the first Test of the Centerline.
As far as I see, there is no major Swing broken, just pierced! (...remember my Swing/Pivot rules? Watch the stair stepping blue lines below the pivots).
This means, that there ist no confirmation of a turn in trend, even if it seems that the markets are extremely extended up in these price levels here.
Because we can't predict the future, but act on facts, this is what I do:
1. don't let me fool to believe that the trend has turned to the south already. There is no confirmation so fahr, period! (It doesn't mean that it could be the case in the coming days and weeks either, but not now.)
2. If the market lose steam and pulls back a little, I expect a Re-Test of the Centerline.
3. If price moves above the Centerline, then this could be a tell that the Bulls are in control. I would expect another Test of the U-MLH!
So, I sit on my hands and wait until the market is telling me more information.
This is a sneak-peak into the rules and the world of the Pitchforks, and how great they work in step with the ruleset.
If you like to trade with hard written real working rules, then you should check out my ForkTrading BLUEPRINT Mini Crash Course which is free for everybody who wants to learn more in trading and chart analysis.
Check the footer of this post here on TradingView.com
P!
SNAP using Forks the wrong wayIn this chart you see a Fork that seems to work great.
The touches at the lower medianline parallel are perfect...but it's a self-deception if you use the Forks this way!
Don't try to fit the market into your tools, never never!
And why?...because you get faked information, leading to wrong decisions, leading to bad trades and to bad losses.
What you need are the REAL facts.
The real information that your tool is meant to provide you.
Let me show you a real way how to approach this chart with the philosophy of Action/Reraction, the method behind the Forks in my latest TradingView Blog (see link below this post).
Happy new week and as always...learn to earn §8-)
P!
ETC Nut up or Shut Up! Ballsy Long TradesHello, Lovely ChartHunter-PipGatherers, there are herds of mainstream altcoins to be harpooned right now, so I'm serving up some thoughts on ETC. Yes, I like big profits. Yes, fraudulent fools call me a "reckless cowboy." Yee-haw. I'm not going to go too much into the fundamentals other than to say this: know your FORKS from your spoons. ETH has dropped almost half of its price since I posted my short trade idea on it. If you were holding you got squashed, lol. There may be a few bounces here and there but I believe ETH will continue to sell for a while, and looking for ETC to pick up lots of slack.The most fascinating part of this chart is that it appears to be the most oversold conditions ever on RSI for ETC. I like that. Keep Hunting Everyone.
