7/12 8pm China Time
Yesterday morning my time, myself a and a large number of those in our chat channel bought near to the 2265 low in XBT (and other coins as well). We were overjoyed when a monster rally ensued, but that excitement was soon replaced by concern as the lows were re-tested later in the day. For the most part, the coins held their ground in the end, and even though we didn’t get lowest of the lows in all cases, we still bought pretty darn close to it.
It does seem now that the current rallies across the board will continue. IMHO, if you haven’t gone long yet, you might want to consider it.
ETC, on an energy point, has closed a long green candle that has penetrated deep into a 2nd arc and over the top of square. This is quite bullish.
ETH reversed at just about the bottom of setup. It has turned up at an energy point, and is apparently joining the party. However, the rally has not yet broken major resistance, so it is too early to say it has put in its lows for certain. I think it is a good buy at this price, but be careful. If we get a close above the top of square and/or the 1×1 we can have more confidence.
LTC reversed at a 54th arc, but the 4th arc has supported the fall without breaking. It turned up on an energy point and remains above the 1×1. Supports have held so far. A test of that 5th arc will likely come soon. Then we will see if it can get through it this time, or not.
XBT found support at the top of square, 1×2 and the 2nd arc. This is the 7th time in a row that the top of square has supported this chart. I suspect that the low is in, but I must admit to being a bit fearful. Nevertheless I bought XBT at 2300.
I bought XLM at 2 cents because after all, it was only 2 cents… I put them away like a future gift to the grandchildren, like a savings bond. Then, rice fell to 1.4 cents, so I bought some more. XLM has turned up at an energy point and is now exiting a 2nd arc. IMO, you might want to buy a few of these for a rainy day…
XRP had been supported by the top of square for a very long time but fell when it hit the 3rd arc above. It is at an energy point now, and looks to be challenging that 3rd arc again. My guess is it will get through it. We will see…
Remember: The author is a trader who is subject to all manner of error in judgment. Do your own research, and be prepared to take full responsibility for your own trades.