johnleequigley1

johnleequigley1

For much of 2018, there has been a reoccurring trend in the crypto markets. When Bitcoin falls, altcoins fall but fall further. When Bitcoin rises, altcoins rise but rise higher. However, for much of 2018 the crypto market has been in a downtrend, and last week when Bitcoin blasted through $6850 as noted here, this trend was broken. See full price analysis here: blokt.com

johnleequigley1

Bitcoin looked bullish coming into this week, and it did successfully make a move to the upside. It was uncertain whether there would be a move to the upside or the downside once price reached $7850 but for the moment, this point is acting as resistance. Read full analysis here: blokt.com

johnleequigley1

EOS CTO Daniel Larimer has actually been the co-founder of three blockchain projects. The first was BitShares, a decentralized exchange. Most recently and much hyped in the community is EOS which has disappointed investors so far since it’s mainnet launch as noted here. In the middle and with approximately a million users is the Steem Blockchain. Built upon this...

johnleequigley1

EOS CTO Daniel Larimer has actually been the co-founder of three blockchain projects. The first was BitShares, a decentralized exchange. Most recently and much hyped in the community is EOS which has disappointed investors so far since it’s mainnet launch as noted here. In the middle and with approximately a million users is the Steem Blockchain. Built upon this...

johnleequigley1

blokt.com

johnleequigley1 Updated 

These recent up surges present an opportunity to take short positions in BTCUSD. We have been in a downtrend forming lower lows and lower highs since January. Some analysts are speculating that the bottom is in while others see the recent upsurges as bull traps. While still in the downtrend on longer time frames, I will use any significant up swings such as the...

johnleequigley1

Technicals were looking hugely negative yesterday with higher probability of downside moving than movement to the upside. The market had a brief recovery across the board on the release of the news that Ethereum is not a security. This recovery seems to have been digested into the market & it looks like price action is setting up to continue it's downward...

johnleequigley1

If price action drops to 8250, I will take this opportunity to enter a long position. Price action has had fairly low volatility today with no huge moves. Has been adhering to the ascending triangle structure thus far with multiple touches on both sides. I would take off half the position if price can go to 8350. For the other half, I would monitor whether the...

johnleequigley1

Daily: Third red candle forming on the daily, as of 10 am a harami candle is forming. Volume is quite low. MACD is after crossing over to the downside. Next major resistance levels looking at 8400 & 8900. 8200 support level acting as a 50% Fib retracement level between 6600 & 10000. If this breaks we are looking at 7800 level as next significant support....

johnleequigley1

On the hourly, price action moved below 21EMA but buyers came in to push back up. Yesterday, as push was made near the 8900 mark but the candle has a long wick showing rejection by sellers in this area. Higher highs & higher lows forming on the hourly with price action currently trading above the 8EMA. Looking to enter longs today & I would not be surprised if...

johnleequigley1

Look everybody, over the past few days, there was many times when I was thinking we are going to go down & heavily. But despite many attempts, Bitcoin met heavy resistance & managed to stay a float. We dropped below 9000 at one point & I thought this is it but it popped back up. Now all the signs are pointing bullish on the 1d, 4h, & 1h time frames. Higher highs...

johnleequigley1

Ladies & Gents, I hope you are all prepared for a pleasant journey. Some turbulence may be expected but we are currently forming higher highs & higher lows. An altitude of ~9100 was reached earlier but we got some heavy air resistance at this point. Dropped below the 9000 mark briefly but quickly came back up. If we can get some volume to come into the...

johnleequigley1

Both yesterday morning & this morning I was very bullish on Bitcoin. Price action was failing to break below the 13EMA & volume was low. This morning around 6am UTC, most cryptocurrencies in the top 100 were showing gains over the past 24 hours but this has changed significantly since then with now most showing losses. Price action is now trading below 13EMA & is...

johnleequigley1

On the weekly time frame, bitcoin is still forming lower lows & lower highs. All other time frames are representing that we are out of the bear trend & that we are now forming higher highs & higher lows. Over the coming weeks, if the next low can manage to stay above ~6800 level & the next high can mange to get above ~11800, I would be confident the trend is...

johnleequigley1

Over the past couple of weeks we have seen cycles of altcoins outperforming bitcoin when price action is positive & underperforming bitcoin when price action is negative. EOS has been the anomaly in this case with it often holding strong on when the altcoin markets were bleeding. However, there was some security concerns in the news last week which has had a...

johnleequigley1

Look to enter long in BTCUSD with 21EMA acting as a dynamic stop loss. Price action currently is at the 13EMA with it briefly going below but coming back up above. Volume is dropping on the daily candle showing that this downward move could be coming to an end. SEC is meeting today to discuss whether ETH is a security which they are unlikely to determine is. If...

johnleequigley1

Cryptocurrency market today is strong with many altcoins showing double digit gains. Despite this Bitcoin has fell pretty sharply over the past hour from around 9150 to 9050. This could be opportunity to get in for a short term long as technical analysis on the longer time frames looks positive with drop being on fairly low volume. On 15 minute chart there was...

johnleequigley1

Although forming a small green harami candle on the daily with little volume, there are bullish signs for Bitcoin on the hourly. -8EMA, 13 EMA, & 21 EMA are crossing over which tends to be a strong signal when supported by other factors -Volume is picking up -Price action managed to break above 9200 resistance -Altcoin market performing well today If we see...