MAGICMARK

MAGICMARK Updated 

Hello guys, been a while ... so busy, and trying to make some money trading too. It's been tough ... BTC has been in a tight range for a while. This is what I see. I believe these things: - we have completed a 5 wave impulse from when BTC started trading to up to the 20k high. - we have been forming an ABC correction since the beginning of this year. - we are...

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Most of us are here to make money. I am. Crypto no doubt is fascinating, in the sense of where will blockchain technology take us. Although we buy/sell and protect with stops ... ultimately we must decide if this is all one big fun experiment for someone and will eventually melt to $0, or whether there is a future. I'm surprised by the resilience of BTC....

MAGICMARK Updated 

Back on June 23rd ... the bears allowed BTC to find relief at 6200 only for 1 day, and then tried taking it down. That caused them to lose the battle. Let me explain ... we are all dealing with people, who have emotions ... fear, fomo, greed, etc. After pushing BTC down to 6k, many people took profit on shorts and some even longed ... after 1 day of...

MAGICMARK Updated 

Hello everyone. The picture becomes clearer each day. Well, some will look at my chart and say it's not that clear, not with all those lines! LOL. Focus people ... don't worry about all the dashed support lines, just look at the bold red and bold blue. Here's a quick explanation: - we could go down from right here. - I do see room for it to go up to around...

MAGICMARK Updated 

Tough to be bullish about BTC nowadays. Those sweet 30% rallies in a 24h period seem like nothing but a daydream at this stage. BTC (and alts), what happened to you? Futures sure rained on your parade. Here's my latest thinking folks. My last idea I suspected a drop and some sideways around the key support of 6800 ... well we dropped, but went right through 6800...

MAGICMARK Updated 

Hello everyone. OK, so maybe a few of you are asking where is BTC going now. It seems we had an amazing rally up to now and then it just stopped. Perhaps you are thinking, we are just consolidating and soon, just like at 6800 and 7800, we will see that green candle that will take us to 8800. Maybe. Perhaps you are thinking, we are going to double top and go...

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I love finding patterns ... most traders do. I think I found a gem here. The top line is BTCUSD open long positions on Bitfinex. Consider it the volume of BTC that is being longed on Bitfinex. The bottom waves are the relative USD price for some major alts (ETH, IOTA, NEO and EOS). I could add more, but you get the point. Other than EOS which went gang busters...

MAGICMARK Updated 

Hello All, I haven't posted an idea in a while. I've been working my trades hard ... averaging my base costs down to really good levels. My strategy has been to accumulate and work those base costs down to prepare for a bull run. OK, here is what I see ... based on sub-wave count, and some possible interpretations ... Blue wave in essence means the inverse...

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BTG has been pummeled to (almost) death ... look at this folks. We are BELOW the listed price on bitfinex ... yes, making record lows, all time record lows. This coin is 19x off its all time high. That means 95% discount. Crazy. I know there are people that think BTG is a copy cat coin ... unnecessary fork of BTC, diluting market share, and causing confusion in...

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ETC sure has an interesting chart, doesn't it. Flat, up, down, up, down, up, down ... collapse, up, down ... flat.... There's no clear cycle waves here past the first peak. So what can we expect from this coin. Well first thing is it is in a fairly good support area ... although down to $10 is a possibility, if BTC has a meltdown. I would think though, it...

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A few months ago someone told me LTC could hit $55. I looked at them like they had just landed from another planet and where talking out of their hands. Today, I sit here shaking my head at this coin. I'll admit I used to be an AVID supporter of LTC. I was a holder ... but this coin has cost me dearly. I denied any wrong doing in respect to Charlie selling...

MAGICMARK Updated 

No, I'm not crazy. Rewind to April ... April 11 to be precise ... we crossed that important green trend line ... and then, while I was sitting in a movie theater getting ready to watch a movie (I think it was Star Wars, Last Jedi ... good movie by the way) ... green, 1300 points of it. You see that green line we have now ... some define it as the upper parallel...

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I'm doing a whole bunch of TA, to decide on which alts to long on for the BTC return to bull (at least temporarily, which will come one day, maybe sooner than people think). The reason I do the TA is because of THIS! I have always liked aELF, but know these smaller coins get creamed when BTC drops. So I decided to go in and have a look. Holy mack! We are at...

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I've followed IOTA for the past 5 or 6 months. What I've noticed for most of those months is IOTA struggles to go much higher than $2. But I have noticed that IOTA does bounce nicely if BTC is in recovery mode for 3 to 5 days. We are currently just below $1. Based on what I see here ... I'd say anything down to around $0.7 is a reasonable buy ... but, you'll...

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NEO ... please come back to life. I used to love this coin ... I still do, really. But it's like a relative who keeps promising to pay back a loan and never does. I've longed it SOOOO many times on bounces, to see other coins outperform NEO. I do remember the time when NEO was "this" close to taking over LTC. It got within a few hairs of displacing it. Then...

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Here's another coin I don't like, although I was there when my son showed me an algorithm that said ripple was going from 0.6 to over $3. It was right. I didn't believe my son ... my son reminds me of this often. Anyhow, is it game over for ripple (the banker's coin)? Let's look at the two previous recoveries ... it seems when we crossed either the blue or red...

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First all, I have to say ... I don't like Tron. I traded it in early days ... but after reading about the white paper plagiarism, and the way Justin manages things (all talk, little action ...), I've made a note in my little black book about this coin. I do have some friends asking questions about tron ... so sticking to technical merits only in terms of SHORT...

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See my ETH idea ... can we say the same for BCH? Careful. You see ETH has a buy range of around $300 to $400 ... and properly ladderred buys will see an average cost that isn't too far from the current price, so the risk is lower. BCH on the other hand has a $300 to $700 buy window ... if we hit $300 ... ouch. Despite this, I do think BCH will bounce nicely...