AION/BTC long term potentialHit and miss with some lower cap alts but some still have promising futures and i like to keep an "eye on" them.
AION current in a large descending wedge and looking for potential break outs to kick off a new mid/long term trend.
Cant see price getting past that area in a hurry it is imo a quality supply zone so that would be my target if this guy signals a buy for an uptrend.
Failing the break up i wouldnt be entering any long term position trades, but aion may still deliver some swing opportunities on the 1-4hr time frames.
Will break it down at a later date.
Unitytradingroup
ETH/BTC are we still going down??ETH just like most other alts following BTC movements have had a harsh sell off at that last high, however Ethereum seem to have move of a slow bleed off from the consolidation rather than a small bear flag which was interesting.
again the daily has printed a bullish engulfing which was the main turn point from the 618 on the overall uptrend....HOWEVER.... IMO it has broken a level of demand previously created on the 16th of feb, so im not looking at the next level of demand as the next real major support and the previous high giving us the current daily range between .031 and .039.
I believe ETH will come up to test these fib levels over the next few days and ill be keeping a close eye for divergence and momentum oscillators for signs of a reversal in the short term trend to potentially find an entry for short leveraged position with the 618 being the ideal position, i will not take an entry if i do not find a reversal pattern or get confirmation on a rejection.
38/50/61 all potential reversal points in this down trend and will confirm a LL and a LH kicking off another mid term down trend, if the 618 breaks we could be heading back up to test that previous high to try and make a new high to continue the longer term daily uptrend started from the 6th of feb.
BTC/USD update in the short termAfter our previous trade played out perfectly we where looking for a new entry back into BTC, yesterday on the 4hr we where building a rising wedge so we switched out our strategy waiting for a break up close above to re-enter for a push to the next target around 4200, we did get a spike up but was instantly hit back down again, most likely a stop hunt to clear the order books a little for margin traders.
we have since broken down from the rising wedge which imo will kick off a short term down trend.
My new target for a reentry is between the 38 and 50% retracement on this last leg at around 3750-3800, will be keeping a close on on the cci and volume to make sure we can see some short term reversal patterns.
The next leg up being back to the 4000 supply zone with eyes on for a break or again looking for a double top rejection in which case we will take profit and flip our bags short.
The daily chart showing a nice big red candle now with volume tappering back off after that rejection at 4000, although the overall market direction is still in an uptrend but a healthy retracement is needed.
To risky right now imo to open a short, i would prefer to wait for the trade to come to me and open a long position back up to the 4000 supply for a 5-6% push and will reassess on the smaller time frames if i think the move is sustainable to reach the 4200 mark.
If the 618 cant hold on the retracement then we will revisit our analysis for a different approach.
EOS/BTC short term directionEOS has hit out targets to jump back into the market, the cci showing a nice steady reversal but volume still dropping which isnt the best sign so we will be keeping a close eye on this trade incase it takes a turn for the worse.
Expecting a small down trend on BTC means alts will most likely following suit so not expecting this to 100% take off from our entry just yet.
4hr chart showing some exhausting on this mid term uptrend and on the smaller time frames we did get a double top at .009853, we have a close eye on our trading algorithm at the moment which is signaling this uptrend coming to a stand still at the moment so this trade has become a little more risky than before, although it could just become a short term pause/consolidation as the market takes some fresh orders of distribution before making another move.
As much as i would like to say give this some time to breath, EOS tends to have no chill when its set up like this and can often just shoot off earlier than expected.
There for we will be laddering our buys in smaller increments with a solid exit strategy incase it takes a turn for the worst.
Proper risk management is the key for a risky trade.
The daily chart is showing potential harsher retracement back to around the .009 mark so thats our next re-entry point if we break down from here.
EOS update and break down on the 4hr EOS didnt want to give us another entry on the daily and smashed through out daily supply zone, how ever on the 4hr we got a noticable pull back and managed to get a trade in as it broke through and retested on the previous supply zone.
price spiked to our target at .00100 to take profit for almost 90% on 10x from our entry.
strong rejection at this supply zone now although imo this resistance here is quite week, im not sure what more eos has to give as the daily is quite parabolic and has spat out a clear bearish divergence.
we could see a fomo push but imo technicals are pointing to a larger retrace incoming.
Il now looking on the smaller time frames for a double top rejection to confirm a possibly short entry.
EOS/BTC trend is getting exhaustedEOS just keeps pushing but this trend imo is going to come to an end soon enough, was short off that small time frame double top and took small profits as it turned back up, was looking for another short entry if it was rejected at that level again but smashed through and tapped the next level off resistance.
Divergence building now on the daily if this rejection holds, short term retrace back to 8400 area before most likely trying to crack this level again.
if it can break above this supply zone the next target in mind would be 10000, with buy stops over supply, still a 10% trade between each order block.
If the rejection is strong here at a double top or fails to make a new higher high and kicks off a down trend im looking at 6800 for a potenial target for a short or re entry for a bounce.
ETH/BTC/H19 big trade huge wins, lets see what else its gotThis was another one we covered in our group the other day, seeing a potential bullish pattern as price was being squeezed into supply, it was only a matter of time before the bears gave up and let it go.
2 options we had for this trade was lucky dip longs off trend and pay close attention for the break out...ORRR use buy stops and catch the break.
Either strategy would have worked as we suggest this move to be a fairly aggressive move to the next supply zone which we not only tapped but have eaten through it over the last day.
Profits taken around 9% x leverage but now we wait for a pause, ideally a retrace to the 50-618 giving us another opportunity to not only trade back to previous structure but im tipping busting through this supply to the next level around .040, this supply being heavily compromised now with all the breaching with market structure.
What i dont want to see is a ranging consolidation here between the top and the 38 retracement, if this walks sideways for to long confirming a distribution zone we could be set up for a coin flip depending on overall market sentiment and more so emphasis on BTC direction, in other words could go up could down....
either way im thinking the break in this supply will be another fairly impulsive move to the next target around 10% from the retracement area.
IOTA/BTC previous tradeLast night during a chat with our traders we where going over trading pitchforks when there is a lot of price action in a ranging uptrend.
We got a perfect buy yesterday at 7373 missing the very bottom by 2 sats, with targets in mind at the outer limit of the top of the pitchfork.
this morning i wake up to a close on my trade with 6.5% in the bank, now waiting for another pick up back down on the outer limit of the bottom of the pitchfork around 7435 in the next few days
ICX/BTC short term trade opWe have had a few solid trades off ICX in the last week or so, failed attempted to set up for EW recently with a bearish divergence formed on the closes, and can see a gartley harmonic pattern brewing.
Ideal drop to the 786 retracement over all puts a good bounce possibility at around .0000550 btc
We always teach our members to be conservative when trading harmonic patterns specially in crypto markets, 38 and 50% is ideal targets the 618 can some times be a real stretch of a target specially with current market situations.
at the same time the .0000585 level could prove to be a hold up on this down trend and may not reach out entry position, patients is the key here, if it doesnt get there it doesnt get there...move on.
BTC/USD Daily analysisAgain not a lot to report from yesterday, we still have had any price action even after the futures close which was interesting, historically we normally see some movement in anticipation to the close and on the close we get the biggest action but yesterday we had barely anything....I see this as kind of bad, a very stale market imo can be bad in the short term.
Todays daily has wicked down and bounced on the 50% which was kind of an expected move to test those fib retracement levels, but we are still currently holding above the 38 line but yet another spinning top proving doubt and uncertainty of the direction to come.
Until we see some harsher moves we will most likely trickle down to test the 618 before really making a decision on the short term direction, for me im still pretty bearish in the mid term and believe we havent tested new all time lows for the year just yet (keen on 2800-3000)
What is interesting though this is our forth bearish column on the volume indicator, we done often see that many bearish volume columns in a row so if we touch down on the 618 we may see some bullish volume take control temporarily with a spike to maybe test that current high around 3700, but with out descent volume it may be rejected pushing us back lower.
4hr showing a classic descending wedge, which is typically a bullish break out pattern, if the moves there it will run to that previous high, a break down says we are going low.
Always pay attention to the short and long charts on bitfinex for a basic idea of market sentiment, right now shorts are low and longs are high...can some times get a squeeze when there are lots of orders in the book specially with not a lot of short traders, could get a long squeeze with a harsh wick down to stop out long traders.....
Some times its not about predicting whats going to happen to base your trades on, some times its more about having an idea of 2 possible scenarios, having a plan in place for both and waiting for the market to react for you to put your plan into action.
Up or Down there are opportunities
ZRX/BTC long termI am keen on ZRX and have had some solid trades out of this for a while but overall pretty bearish as i see this walking down further to a level of demand build on the original run up thats been tested one before we a great response.
Using some repeating fractal patterns and some fib levels that keep getting hit with each fractal i can see us walking down to that demand following by a 786 entrancement from the last level of supply.
This will take a while but there should be some solid trading opportunities with in that range on the way up imo.
Will be keeping an eye on ZRX for those trade opportunities to present them self
