6Shooter

6Shooter Updated 

Not looking good here. No support from here to bottom of the channel. The SAR has turned down as well.

6Shooter

In my last chart on Bitcoin I mentioned the self evidence of the present situation with reference to short-term trades. At the moment I think we are still in no man's land in terms of short-term trades using cash. I never trade on margin. For margin traders there may be an opportunity for shorts approaching. In this chart I have included a number of moving...

6Shooter

The chart above is pretty self evident. Short Term stay in cash. I find it interesting that BTC has bounced off of the 365 day MA, will it hold? At this point opening trades on BTC is closer to gambling than trading. I am still long term bullish on BTC but if the Recovery Ascension Line I've drawn is violated and a candle closes below it we are going to 6510...

6Shooter

This is a new coin just post ICO, still in testnet. Current Value just under one Billion dollars. Based in Singapore, this coin is doing a lot of exciting things, it's Ethereum 3.0 on steroids. The technology employs sharding to increase block throughput to levels that will compete with the Visa Network when scaled. Sharding permits the blockchain to be...

6Shooter

I believe Bitcoin is still in an overall Bull Market. However as long as we stay below the 200 Day MA, I feel we are in a short term Bear condition. BTC is about to cross the 50 Day MA to the downside, if it does, we are pretty much locked into a decline to $7800. It is from $7800 that I feel we have the first real chance to break the downtrend and move up...

6Shooter Updated 

I have discussed Verge previously in my postings. I believe it's a great project with a very active and enthusiastic community. It has also made a very large deal for Verge to used as an online payment systems for MindGeek and it's group of companies. Verge was selected over Bitcoin, Ether, and Dash as well as other coins for two reasons. Verge is extremely fast...

6Shooter

UPDATED: As Bitcoin Drops Buy Altcoins This follows on my chart from a few hours ago. The 21 Day MA has been breached to the downside. There is some support at 8534 on the Fibonacci. Then support at the 50 Day MA around 8300. If 8300 is broken then next support is in the area of $7600 where there is Fibonacci support and the turquoise dotted line that...

6Shooter Updated 

As Bitcoin drops in price use this opportunity to buy quality Altcoins such as those I've recommended in the past. The coming recovery from the current Bitcoin drawback will be magnified in quality Altcoins. Verge XVG Lumens XLM Dash ARK Cardano ADA Golem GNT LISK LSK Check out a rapidly upcoming coin not yet listed on TradingView or major exchanges, ...

6Shooter Updated 

Analysis The 200 period MA is shown in yellow, is the current ceiling for price movement on the upside. The 21 period MA drawn in red forms the floor which the BTC price must hold. Currently, the Fibonacci 0.50 level is critical it is drawn in green and the price is at $9159. This Fibonacci is drawn on the last major upward price move, and the 50% level on any...

6Shooter

LISK Symbol LSK is moving up! As many of you who know me are aware, I’m an original ICO_ investor in LISK symbol LSK. LISK is an exciting project with a great team. LISK seeks to make developing blockchain applications and new coins more accessible to programmers by using JavaScript rather than a new language such as that used in Ethereum. With the LISK...

6Shooter Updated 

At the moment on the Bittrex 4 hour chart Bitcoin is looking Indecisive. Short term, the price of Bitcoin can move in either direction. I'm still holding cash looking for a trade opportunity with less risk. As I mentioned in my last posting, I took some short term profits in some of my altcoin trades. I still feel we need a short term corrective price move...

6Shooter

VERGE XVG Is Leaving the Ideal Buy Zone - Trade Active Looking at the Verge one day USDT chart on Bittrex. Verge is now trading with a candle closed above the buy zone I had set on April 18th. Hopefully you bought while in this ideal zone. If not it's still not too late to jump onto the train. Verge is going higher, and if you are not a swing trader just...

6Shooter

I have been warning of a hard pull back and that it's needed to make the Bitcoin Market healthy for a good move up in the 5th wave of an Elliot Wave move. Once again we find ourselves in a short term bear market. There was the possibility of a trade on the upside before today, but I knew it was high risk as in this type of move Bitcoin typically turns on a dime...

6Shooter

Current Analysis This chart is to show first of all the path to our current price at $8950. From here, to have a healthy run up, I feel we need a pullback to at least #4 of the current Elliot wave I've drawn. That price is about $8370. Then BTC can begin a new leg up to the area of $9785. Trade Planning So I plan to enter a trade in the area of $8400 and...

6Shooter Updated 

BTC Bullish - Is There Room To Run? Keys To The Chart Red Danger Zone 1 - Heavy resistance 8375 to 8475 Red Danger Zone 2 - Confluence of resistance indicators $8950 - $9225 The Yellow Circles are zones of maximum risk to upside movement. The 50 Period MA has crossed upward on the 200 MA. That is where the current leg up started. But notice that the 50 MA is...

6Shooter Updated 

This is an update of the Chart and commentary on Verge I posted yesterday. For more detail of the projections I made yesterday, please refer to yesterdays chart linked below. Verge XVG Trade Setup Verge is approaching the buy zone I outlined. Selling volume is letting up a bit. The RSI is approaching the oversold region. Stoch RSI indicates in the oversold...

6Shooter Updated 

XVG has pulled back from touching the upper trend line as shown by the smaller yellow ellipse on the chart on the news that a business deal has been reached to use Verge as a payment system for the Porn Hub company. Porn Hub which is owned by Luxembourg based MindGeek the 32nd biggest website on the web according to traffic measurements. This is a case of...

6Shooter Updated 

It's a time of indecision for Bitcoin. The price is in a short term channel for 24 hours now. The view over the next few days is a zone between $8470 to the upside and $7700 on the bottom. Closing a candle outside of either of these bounds represents a change in the current situation. A close above 8470 would open the door to $8892 - $9016 where there is...