JR4020

JR4020 Updated 

Similar to the Link/USD chart I shared yesterday, there are a few indicators to consider on the Link/BTC chart. I do think Link is vulnerable here. It has had a high-yield year, and it might need a deep correction. There certainly was distribution at the June ATH and the following triple-topped bounce. I don't personally follow rich lists to gauge...

JR4020 Updated 

USD price is at a strong confluence of supports. RSI has bottomed and is rising. (Weekly STOCH RSI is bottomed as well. See chart in updates below.) Ultimate Oscillator looks to be angling up a bit. I marked the number of days in the triple-top corrections on both the left and the right. I offer no conjectures on the meaning of the similarities--merely the...

JR4020 Updated 

Let's see if this fractal has any merit. At that first marked area it consolidated for 12 days before breaking up through resistance. Two things can happen here: 1. The SIBOS conference is happening next week (23-26th September). Either real news from the conference pushes price up decisively, or.... 2. Nothing comes out and price breaks down through the 300 EMA...

JR4020 Updated 

A few observations on Chainlink. 1) We have been above the 21 weekly EMA for most of the year. We've been consolidating on top of it again this last 2.5 weeks. The Stoch RSI is dropping and will need another 2 weeks probably before it would bottom out. You can compare previous dips and the Stoch RSI for yourself. 2) Sell volume from BTC's drop today does not...

JR4020 Updated 

I've been sharing versions of this chart for several weeks now. This falling wedge has confirmed both sides of the wedge several times now. And yes, I believe it does fit the criteria of a true falling wedge. If the sustained move up from Jan. through May is the beginning of a new bull phase (and so many factors indicate that it is, even for alts/usd), then this...

JR4020 Updated 

As you can see, during the 2018 bear market the total Alt cap and BTC dominance were inversely correlated for the most part. Comparing the current correlation between the two charts looks much more like 2017 BTC dominance cycles than 2018 cycles. With volatility back for BTC, one of the main use-cases for alts (as liquidity-makers for additional BTC) is...

JR4020 Updated 

Here is my current narrative about the TOTAL2 chart: The price action from the December 2018 lows up through March 2019 (see the first ellipse) is the market bottoming out, forming an Adam & Eve type structure and eventually breaking up through the 100, 200, and 300 EMAs. Granted, the Total2 chart is pretty much a chart of a secondary market whose USD values are...

JR4020

Total2 appears to be consolidating into a pennant. RSI has two levels marked with possible path in red. Sentiment feels like alts could begin a more market-wide push up in the next several days.

JR4020

Several things to consider: 1. Will BTC break through 62% dominance and go for 68%? Or will it pull back here? 2. Binance will open for deposits and withdrawals on Tuesday. 3. Consensus 2019 begins tomorrow, May 13. Presumably there will be positive development news on various Alt projects. 4. This uptrend line has been remarkably resilient despite BTC sucking...

JR4020 Updated 

It's worth standing back and looking at the big picture with Tron. This last decline from January showed a lot of sell-off. First of all: The RSI is near historic lows (it has only been lower once before, in August after Bitcoin's fizzle-run up to $8,000). Whether you accumulate here or wait for it to regain the low 500's is up to your accumulation strategy....

JR4020 Updated 

RSI and MACD bullish divergences marked The long descending wedge diverted into a nearly horizontal triangle. Will price follow a slow, sideways breakout for a rounded bottom? Or will price drop through the bottom of the newly forming horizontal triangle?

JR4020 Updated 

Bitcoin dominance stands at 55% atm, and has been rising. Hopefully this altcoin trend line can remain intact while Bitcoin does its thing. Dropping below 68.. ish is a problem...clearing 815...ish can possibly clear the way to 90.. or so.

JR4020 Updated 

A number of analysts here were sensing that BTC was due a pull back. Whether that was going to happen or not, the Tether announcement did it for us. How bad is it going to be? The daily candle closed right on a support line, but the next candle opened below. I expect some waterfall from here as the Asian markets wake up and react. I'm actually surprised we...

JR4020 Updated 

...And volume coming in will depend on the stability and certainty of BTC.

JR4020

I am not a trader; I am an accumulator for mid to long term holding. So this post is geared toward my perspective. From a fundamentals angle, there is so much to say about this project. If you are on twitter, follow "Icon Report", Sple3en, @helloiconworld, and many others to keep up on developments, news, and engagement opportunities. This chart shows steady...