aboveandphom

aboveandphom

Because ETH failed to break up from this symmetrical triangle and broke down of its macro rising wedge indicates that a little more trouble lies ahead. My earlier position of $133 was stopped out at my entry of $133 so I am currently flat with any positions on ETH right now. I am ready to re-long at $127. It would not be wise here to short $135.50 even though we...

aboveandphom

Most of last week I had written about how I expected Bitcoin to bounce at the $3937-$3947 range and that is what has transpired. We have dropped and experienced a slight bounce at $3939. The bounce was pretty weak as of 9:00pm but it hasn’t broken downwards yet so maybe more time is needed to decipher the strength of this. At this point, if you have longed at...

aboveandphom

It looks like a bounce here around $3.55 could indicate an 11% move up to $4.00. I still believe there is a good shot that we will reach $4.00 before crashing even the event that we do crash. There is also a good possibility that could bounce off the 38.2% Fibonacci line at $3.40 and then try to move up. If $3.40 breaks then I can see $3.00 EOS pretty easily. I...

aboveandphom

Litecoin is still showing signs that bears are more in control. I haven to changed my potential short at $68 and will continue to do so unless the price drops precipitously, then I am looking to re-long at $48. The only real worry is if Litecoin breaks that that significant trend line around $40-$41. What is also worrisome is that there aren’t any high volume...

aboveandphom

Yesterday I had written that Ripple was worthy of a long and I still think it is, at least for another 2.6% to $.323 but I don’t think it’s a good idea to market in at this current price point. If you were able to catch that bounce at $.3118 a few days it would have been worth it but it’s tricky to buy at this range since we have broken downwards from the macro...

aboveandphom

I’ve taken profit at $138 to secure a little bit of profit from my long at $135.50. My entry point is now $133 but I have put a stop loss at entry point of $133 just in case we continue to drop. I am planning on re-longing at $127 and taking profit at $143. If the price breaks out of this micro symmetrical triangle by Sunday, March 24th, 9pm, then I will close at...

aboveandphom

Movement since yesterday the 21st was subtle. After reaching $4000, Bitcoin attempted to bounce back up but fell short at $4070. There is a heavy resistance at $4100 and I still do expect the price to retest $3937-$3947. This coincides with the 38.2% Fibonacci level of the two major pumps we experienced in December and February as well as an almost 3-week trend...

aboveandphom

I have been wrong about EOS. I believed there was going to be a bounce right off my yellow EMA line but there was a bounce right above the longer-term one. A bounce at my pink EMA line is actually more telling and it is very possible that we could see a bounce up to $4.00. For now, I will avoid trading EOS because I was wrong about the bounce and while there are...

aboveandphom

Litecoin has been a little tricky to trade and since I’ve closed out my short at $60ish I haven’t reentered this trade. It’s currently trading around $59.410 at time of writing but I am still expecting a drop. It might bounce here but according to my rising wedge I think any bounce here is detrimental to its price. I originally had a short position set for $68 but...

aboveandphom

If you saw my previous post on Ripple 3/19/19 then you can see I was almost spot on with the bounce at $.3118. It actually dropped to $.30818 but the bounce was very weak. However, it did not close below that 65% Fibonacci line so I am not sure if it’s still going to continue to drop. It still might after some ranging but I am looking for XRP to bounce right back...

aboveandphom

As I’ve written in my previous posts, I was waiting to re-long Ethereum at $135 and today’s small dump hit $135 to the penny. It’s actually rare that price action lands on .00 but I’ll take it. The last pump led us to $170.00 too so that’s always interesting to see. I am currently long in at $135 and although I did not post this yesterday, I actually closed out at...

aboveandphom

Since Tuesday, March 19th, Bitcoin has finally dropped to $4000 which was only a 3% drop. What this is telling me is that we could possibly bounce here as this ascending channel is being ready to be broken or we will retest $4200 before falling back down. Because the bounce at $4000 was weak, it seems very likely that we will have one more leg down, with another...

aboveandphom

We did not have a bounce at $60 so I am still expecting a drop to at least $56. I am still reluctant that we are going to make a new high before dropping to $48 first. If we do make a new high I am shorting at $68 and am very confident in this price action. A long at $48 would be wise for a good scalp position still. Previously I had written that a bounce off of...

aboveandphom

Yesterday I had said that XRP looks like it is about to break soon and I am still expecting that. We’ve experienced another day of price range but my long is still set for $.311. The absolute last day for us to range would be by March 28th. The price has been contracting for almost 2 months now since January 28th so a big move is expected to happen.

aboveandphom

ETH has also considered another day of range but a drop is to happen sooner rather than later. I am expecting ETH to drop to at least $136 by end of tomorrow, Wednesday the 20th. I still have my long position at $116 and will not take profit if we do drop. I intent to long at $135 still. A strong bounce off of the 38.2% Fibonacci level of $136 will indicate to me...

aboveandphom

Not much has changed in price action from yesterday. We are still hovering around $4100 without the ability to break past it. I expect the contraction of price movement to end by Friday where we will have some more volatility. Short-term I am still expecting a drop to $3937 and if it breaks there we would revisit $3625. My position on this is still neutral, I am...

aboveandphom

EOS may still be in for a slight bounce at $3.70 but don’t expect $5 EOS yet. We will need some heavy accumulation that we haven’t experienced. If this macro rising wedge gets broken a pretty safe long can still be done at $3.50, but I wouldn’t do more than a ~5.60% scalp back to $3.70 and once that is done I would just re-long at $3.00. There is heavy confluence...

aboveandphom

EOS is not looking good at the moment. My gut feeling is that we will revisit $3.00 EOS before we can reach $5. If we do continue trading at this range then a bounce is to expected at $3.70 but I am not sure that there is enough buying pressure to do so. EOS has been in a range between $3.10 to about $4 so a break out upwards would need a strong bounce soon. Even...