Well it’s finally here.  We are within 24 hours of this tremendous guessing game being resolved one way or the other.  The future of BTC and the results of a fork, if it even happens, will be known in the very near future.

Why ethereum and some of the other alts did not assume a #1 star performer role in this period of uncertainty mystifies me.  Beyond what the chart says about support and resistance, it was entirely counter-intuitive that eth would choose to break down every time it hit a fork in the road this past week.  But it did..  Go figure.  Regardless, it will exit a giant arc by this time tomorrow or the next day, in all likelihood.  The selling season will likely end very soon.

XBT

XBT hit a brick wall a little while ago.  Our chat subscribers saw that wall many hours in advance – I trust many of them sold the high, or close to it.  I’m not sure how low the coin will now go.  It might go pretty low, but maybe not.  I am hearing that there are big money hedge fund managers in NY and London buying the dips…

ETH

ETH can’t seem to get out of it’s own way.  The chart doesn’t lie.  It shows clearly that there was a wall of resistance.  The mystery is why it did not blow that resistance to pieces a week ago.  In any case, when it gets through that arc, our chat subscribers will be the first to know…

DASH

DASH is currently being squeezed between support and resistance. I would suggest buying a close above 178 and selling a close below 170.

GNO

GNO is pushing through an arc now.  Support has held pretty firmly for awhile.  When it exits that arc, I suggest that it might be a good trade opportunity.

LTC

LTC is testing the recent low and support.  My best guess is that support will hold.  But if that support breaks a re-test of the 38.5 low is likely.

XLM

It appears XLM will test the 3rd arc at ~153.  Overall, this has been a disappointing performer, to say the least.  Maybe she will get some legs when they stop giving it away for free.

XRP

Like XLM, it seems XRP will test the 3rd arc ~ 158.  This coin’s performance has been a disappointment.  Like eth, it had a chance to assume a leadership role when XBT was handicapped, but big money sold it rather than buying it.  So counter-intuitive…  In any event, a significant energy point is forecasted for 8/2/17.  Only a few days away…

Happy trading!

 

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.

 

Trading School

There are still a few seats available for the 2nd class at Trading School.  After this class, the price for the 3rd class will be raised again.  I will likely stop teaching classes as soon as I have a solid core of traders who deeply understand geometrical trading, and are committed to being part of a ‘brain trust’ who will collaborate in a joint effort to crush the crypto markets with me.  I imagine that there will only be a couple classes more before that threshold is met.

 

Tradingview is a great resource for traders.  Check it out if you haven’t already.

Categories: BitcoinEthereum

Leave a Reply

Your email address will not be published. Required fields are marked *