aboveandphom

aboveandphom

EOS continues to fight an impending retracement. Because we keep consolidating at this range after an impulse move, this can almost be classified as a bull flag or a potential bull pennant if you look on lower timeframes. I personally like to swing trade, so I’m basing movements off the 4HR charts but lower timeframes like the 15m –which is significant in...

aboveandphom

Litecoin’s buying pressure is becoming almost non-existent and I am patiently waiting for the price to drop which I think would be by the end of next week at the very latest. At this current price, it remains a strong short for me still and every move up from here does not change my analysis. Unless we have an unlikely ridiculous green candle that shoots LTC to...

aboveandphom

When I drew the supple zones yesterday I had expected those zones to be areas of retracement for Ripple and as of today, they still are. XRP had attempted to break out of supply zone #1, but has retraced in the process. My analysis has not changed: absolute short by $.33215 and reasonable short at $.31800. That being said, a reasonable long at $.3000 is good too....

aboveandphom

Ethereum is ripe for a correction. What it appears to be is that ETH would most likely retrace to about $138.71 before validating or invalidating this short-term move up. Because of that rejection of the 38.2% Fib line that I had written about yesterday, that to me is not a sign that we are confidently in bullish territory yet. Even if we do move up, I still...

aboveandphom

Bitcoin has just attempted to break out of its micro triangle but also above $4100 to no avail. What seems apparent is that there should be a retracement to at least about $4054 over the weekend. This is not surprising as most trading patterns don’t normally play out in crypto, so a triangle breakout here might have been too easy for the bulls. If we do break...

aboveandphom Updated 

Because Bitcoin failed to break out of this micro triangle that I’ve highlighted in my chart we could still be in for more range until the apex of this micro triangle ends on April 8th. If you were able to catch the move at $3939 then you should have taken profit already, in my opinion. The reason for this was because of this micro triangle and I had written that...

aboveandphom

EOS has just been full of surprises these past 2 days. After moving up 20% in that time frame I do expect a significant retracement soon, at least within the next week or at least a price consolidation. I shorted around $4.32 when I noticed heavy bearish divergence on the 15minute charts. I normally don’t like getting into positions like this because I’m more...

aboveandphom

Litecoin is still poised for a retracement. My gut is telling me that it should be significant and you can see that buying pressure has been drastically decreasing. I’ve been continuously writing about how any new high now would likely be a fake pump and I don’t feel like I am wrong here. There is heavy bearish divergence on the 4HR which is a significant...

aboveandphom

Ripple has not yet broken out of the macro triangle yet so technically it wouldn’t be smart to long here. At the same time, it is going through a small retracement right now, but when it does pump, we might meet more resistance at $.31700. I’ve highlighted in my chart 2 supple zones to indicate where a possible retracement of this move up would happen. This is in...

aboveandphom

Not much has changed for Ethereum since yesterday but there was an attempt by the bulls to try to move past $143 but that is where this run was stopped short. This is where the 38.2% Fib line was for the downtrend right at $142.73 and if you look at the local high, it was stopped at $142.19. This spells trouble for ETH in the short run because a stop at 38.2%...

aboveandphom

Wow! What a day for EOS. I had written that I do not expect EOS to hold $4 if we broke out of that triangle and at the time of writing it is trying to retrace. Out of all the coins that pumped today, EOS had the best day with about a 15% move. It is unclear whether this Is sustainable but my guess is that it is not. If we do move up I would be surprised if we...

aboveandphom

Even though Litecoin has bounced up about 5% since yesterday, I am not convinced that this is LTC’s bull run. There has to be a retracement soon and that’s the bet I am going to make. I would be completely surprised if we break $65 and if we do, I am still expecting to short at $68. If your philosophy is that we have bottomed out at LTC then it would still be wise...

aboveandphom

Ripple has bounced off of $.30 for about 5% and while the move is strong, we have not broken a downward trend. If Ripple continues its move up I am expecting a retracement at $.33215. If XRP closes above that then I will be more confident that there is plenty of room to grow. Previously, the macro triangle I had drawn did not consider the massive 4HR wick that...

aboveandphom

Even though Ethereum has bounced up about 5% from its recent low of $132.67 I am not convinced of this bounce just yet. I really like my potential long at $127 or a short at $154 for scalping. I am trying to limit my risk as much as possible because we’ve been in this range since February 24th. Today was a good short-term pump but I am not convinced we are...

aboveandphom

The bounce that Bitcoin experienced today was pivotal in keeping this re-accumulation phase alive. Generally, bullish continuations have a solid bounce at their 38.2% line and that’s exactly what happened. I had written yesterday that if we did bounce there I would be surprised if we surpassed $4100 and so far, the high for today is $4064. I am still flat though...

aboveandphom Updated 

Last week I had written that Ripple was in a position to retest the upper trend-line of this symmetrical triangle and it has not. Instead, the price has broken downwards out of the triangle but current price action indicates to me a bounce sooner rather than later. For me, I will be longing at $.29500 with a stop loss at $.28999 and a taking profit at $.31800. The...

aboveandphom

My last post indicated that I expected EOS to bounce at and try to make a move up about $4.00. That has not happened yet, but out of all the major drops over the weekend between BTC/ETH/XRP, EOS hasn’t moved. That being said, there is still a possibility to re-long EOS here but I am not going to. Although there could be a move up to $4, I like the possibility of...

aboveandphom

In my last post I had mentioned that Litecoin is still ripe for shorting. I would be very surprised if we don’t retest $55-$56. There is strong bearish divergence right now with every successive move up sporting decreasing volume while MACD and RSI confirm this as well. The confluence is strong. I would not place a short here because it might be too late. I am...