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Neousd

EW Analysis: NEOUSD Can See A Deeper Corrective DeclineHello traders! Today we will talk about cryptocurrencies, specifically NEO and its price action from Elliott Wave perspective. NEOUSD made an impulsive five-wave cycle from March lows, which suggests a bullish reversal at least in three waves A/1 - B/2 - C/3. Since the beginning of June, seems like NEO is making a three-wave a-b-c correction, where wave "c" is still missing. So, don't be surprised if we see another decline towards projected 8.0 - 6.0 support zone around important 61,8% - 78,6% Fibonacci retracement and this is where a higher degree wave B/2 correction may come to an end, which can be followed by strong and impulsive bounce back to highs for wave C/3. In case if we see something deeper and more complex, invalidation level remains at 4.0! Be humble and trade smart! If you like what we do, then please like and share! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:NEOUSDEducation
by ew-forecast
EW Analysis: Crypto Is Selling-Off; Btc At 6-7K Sup. ZoneHello traders! Today we will talk about cryptocurrencies and their current decline. Let's start with Bitcoin against the ALTs dominance. BTC was losing its dominance against the ALTs since the beginning of September that can be clearly seen in the BTC.D/OTHER.S chart, but as you can see a decline was corrective only in three waves a-b-c, ideally in wave 4, which means that BTC Dominance could be back in the game for wave 5 soon, especially if we consider that strong a=c and base channel resistance line support area. Due to a lost of BTC dominance, BTCUSD just hit new lows again compared to some other ALTs like NEOUSD and ZRXUSD, which were stronger in the last couple of weeks. However, we still see a corrective W-X-Y structure from the highs on Bitcoin and it's still trading around important 61,8% Fibonacci area, so we would not be surprised if we will see a bounce soon, maybe already here around 7000-6000 support area, especially if we take a look on NEO and ZRX. In the Crypto market we always have to respect correlations. And what we see is that both, NEO and ZRX can be unfolding pretty clear bullish setup here with a strong five-wave rally away from the lows followed by a three-wave a-b-c corrective pullback that can stop right here around important 61,8% Fibonacci support area and channel support line. Well, what we want to point out is despite that current sell-off in the Crypto market, we still see limited downside with a strong support levels and potential bullish reversals. Also, if we are right and BTC dominance comes back, then BTC could be the strongest cryptocurrency again, which means that ALTs against the BTC pairs (XXX/BTC) may continue even lower. This is just how we currently see the Crypto market; Crypto market can see a bounce and a recovery sagain, but only against the USD, while XXX/BTC will stay mostly bearish or sideways. If you like what we do, please like and share. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:NEOUSDEducation
by ew-forecast
1
Cryptogame - Margin Battle Another chart. I have too many other charts to put here, which I will add in description later. There is a lot going on behind the scene. Bitmex 100x leveraged trading has had a clear impact on the cryptomarket. Other leveraged trading options at Bitfinex for alts are playing a major role and have resulted in wicks which are not ignorable. Currently the alts have too many long positions compared to shorts, where as BTC and only 2-3 others alts have more shorts than longs. Of course there are always other aspects to look at and clearly have an impact on the inter- and intraday prices. Please leave a comment (healthy discussion please) and click on the agree button if you do agree or like this chart. Thanks.
BITSTAMP:BTCUSDEducation
by UnknownUnicorn995432
Cryptogame - The Order In The ChaosHi everyone. I hope everyone is fine and doing well. Sorry I have been very busy at work these days hence was unable to post anything. The previous chart was getting too 'long' for the updates, hence I am posting this one. Many things in the pipeline. EOS and TRX have their main-net launch dates within the next few days. Still, because of the overall market sentiment, the regulatory clouds, CFTC investigations/probes into BTC price manipulation in the market (they FINALLY figured out something was wrong lol!), the SEC focus on ETH being a security (or not), the price of BTC is not going up. All the bulls who said that institutional money will be coming in soon... well, still waiting since the 22nd of December 2017. This year is likely going to be similar to 2014 in my honest opinion, but mainly for BTC. I think some of the alt coins (EOS, IOTA, ADA, XLM for instance - may be BCH) will do well. There is another coin - RadixDLT. I have read their white paper and it looks very promising. The team is very polite and the main devs do respond to email queries themselves. Plus they are British! And since I live in UK and absolutely love the country, I will buy this one when it launches later this year. I will keep updating the charts and also share my thoughts here. Please feel free to ask me any questions or send me a pm and I will aim to reply within 24 hours. Over the past few weeks, many 'bullish' calls have been made by hedge fund managers and billionaire investors. And also by other billionaires (like Warren Buffet) calling all cryptos a scam. The answer - everything is a scam! You need to learn how to use the market to your advantage. Don't get caught up with what others say. Everyone has an agenda. Rather than relying on one source, gather as much information as you can about the crypto you want to trade. Always look at the BTC chart because even the most powerful pump or rally can be killed by a falling BTC. If BTC is overbought, then it will have some correction. It can kill almost any rally or pump instantly. So be careful. BTC is the common denominator and is the main index against which all the cryptos are valued. Do your own research first. Don't invest 100% unless you are sure about what you are doing and have a contingency plan. If you are margin trading, then your investment is automatically exposed to an exponentially higher level of risk. So be careful and only invest the money you are prepared to lose. About this chart. This is on a weekly scale and I have chosen the Bitstamp BTCUSD chart this time. One of the main reasons is that this is the longest time-frame chart that we can look at for BTCUSD pair and hence has more data than other exchanges. The three indicators used are RSI, DMI (Directional Movement Index) and Stoch. I find that when I use these in conjunction and pitted against each other, they do provide a better insight than others. Of course there are hundreds of other useful indicators available. You should use the ones which you are more comfortable with. The overall market volume is the key here. It has been dropping steadily over the past few days. I have a feeling that BTC will visit the $5000-$6000 range soon, but I could be wrong. Wish everyone all the best!
BITSTAMP:BTCUSDEducation
by UnknownUnicorn995432
7