This market is challenging.  I have been told by many people that they believe a crash is coming.  There is clearly a lot of fear in the market, so my guess is many people believe the rumor, or at least fear it may be true.

imho, there are too many reasons to believe that the market will go up to lend credence to these rumors.  However, I have been wrong many times in the past, and I am aware that I will be wrong again.  So it pays to be humble.

DASH

DASH appears to be entering a 3rd arc pair.  This is bullish overall, though the 2nd arc of the pair is another hurdle to cross before a serious advance can begin.

ETH

ETH 8 hr chart is a bit ambiguous.    The 1st arc has held so far, but the top of square has been strong resistance.  hhhmmmm.  The shorter term chart:

Here ETH has entered the 2nd arc pair.  Again, this is bullish overall, but it will likely take a while to get through those arcs before a serious advance can begin.

LTC

This setup on an 8 hr chart may be the operative setup.  It shows a lower target than I was looking at on a larger setup.  Target is in the $53 range.

XBT

XBT closed above the 1×1 on a bear setup, so I have switched to a bull setup.  Here, we see that the advance was stopped by a 1st arc pair.  Regretfully, once again we have an ambiguous chart which is giving mixed signals.  If it were me, I would probably take any profits I had and wait for this market to give me a clear signal what it intends to do.

XLM

XLM is at an energy point now.  Given the extreme low, my guess would be that the next move will be up.  If so, this might be a great entry point.  Time will tell.

XRP

XRP is on the sunny side of an arc pair.  This is a bullish place to be.  If this starts moving up, it is likely a good buy.

ZEC

ZEC has cleared a long term arc pair, but is still a couple days from hitting an energy point and quite a ways from the 1st arc pair of this setup.  I can’t help but think this is a good buy here, though we are far from a system-driven buy signal.

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.

 

 

 

 

 

 

 

 

 

Categories: Bitcoin

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