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Altcoinboom2k17

EOS Counter-Cyclical C&H Breakout? Good for 90%?EOS is performing a potentially very bullish pattern on the daily chart, and a breach of the pink descending channel line could unlock it with gains around 90%. A counter-cyclical cup and handle MONSTER trade! Early bird entry is around the $1.64 pivot support, which is the edge of the major classical fibo support zone. I don't recommend this entry for beginners, as it will most likely result in a heavy selloff if breached and closed (remember, we are in a downtrend). But you will be rewarded if it pans out to the upside. A safer buy is fetching the breakout at $2.13. Be aware of the descending trend lines along the way. Alternatively, the large harmonic pattern (AB=CD) may play out, taking us back toward the all time low. We would most likely form a high low, and I don't expect a full retracement yet. As always, I'll keep things updated. Cheers and GLWT! - Erik
BITFINEX:EOSUSDLong
by Trader6127
5
Bitcoin Cash ConsolidationHere we go, another Bitcoin Cash consolidation! Here are the trend lines and waves I'm looking for. Major classical fibo level sits at $1243.59 and the edge of that fibo level extends down to $878.51. I'm looking for a buy at the max consolidation level around $560.39. We could trade as low as $292.26 which is a key fibo extension. Ladies and gentleman, this could could trade as high as $7,000 USD after consolidation (you heard it here first). I'll update this thread with long and short ideas as we go. But for now, the overall picture is bearish.
BShort
by Trader6127
13
Another Ethereum Structural Explosion? Good for 120%?Is consolidation finally over? It very well could be. If you take a peak at the ETHBTC chart, we may have hit bottom. :) As for the ETHUSD chart, one more test of the uptrend line may be in the cards, followed by an explosive move to the upside. There will be plenty of opportunities to get involved. Targets to the upside include a MIN TP of $406, a MID TP of $490 and a MAX TP of $585.45. There is also a pattern target higher at $677! Alternatively, if we puncture the uptrend line and stay there, we have strong supports at $273 and $256. Cheers and GLWT! -Erik
BITFINEX:ETHUSDLong
by Trader6127
14
A Golden Monster Trade?Currently price is trading at the edge of a major classic fibo support. If we can stay above this level ($157) it could trigger a bullish rally taking out resistance levels along the way. AB=CD harmonic pattern suggests trading is to be expected above $577 within the next 19 days. Thus, MIN TP can be set at the $677 fibo extension, and its possible to look higher for a MID TP of $888 and a MAX TP of $1000 down the road a little. Additional bullish confirmation can be sought from an RSI value over 50 and a breach of the EMA 25 on the 4HR. Alternatively, if we breach the major classic fibo support zone, we have strong support at the max consolidation range around $100. Cheers and GLWT! -Erik
BLong
by Trader6127
23
Overcoming Resistance? A ZCash Structural Wave 3?Following the explosive failure we saw at the end of September, which formed a bearish wick, Zcash has been in consolidation mode. Currently, massive resistance at the major fibo resistance and the classic fibo resistance stand in the way of prices heading higher than $297. Data from this pair shows us that price likes to return to the fibo resistance level - in this case, $357. This means we could see the massive resistance taken out, the formation of a higher high, followed by a new structural wave. A break of the all time high at $455 give us a BIG breakout buy signal for a MIN TP of $525 and a MAX TP of $613. Alternatively, we may breach the uptrend line and trade near the major classic fibo support at $190. A break of the white trend line could bring prices as low as $150 and $125. Our strategy should also take into account the ZECBTC chart. Note that we are currently in a descending channel in that pair, and the formation of new highs in the USD chart might need to be accompanied by a break of that descending channel. As always, I'll be updating this thread with long and short ideas at smaller time frames. Cheers and GLWT! -Erik
BITFINEX:ZECUSDLong
by Trader6127
1
[TRADE IDEA - FORECAST] STORJBTCIt's a brand new coin and there's not much intel so we can make a better-educated guess so let's see what we have. First, let's keep with the basics: Look at this last rally up, we all know: everything that goes up too fast tends to readjust, so waiting could be your friend to avoid a massive dump. Second it's very close to the "oldest" resistance level which is reinforced by the fibonacci level at 0.000108, so the downside is huge. Even though the volume is increasing, this is expected in such a new coin, so I would not count this as such a positive indicator. The rest of indicators show a very overbought position plus sellers are passing buyers, so it's very likely to a readjustment. A safe approach would be waiting a couple hours and see if it will readjust close to the up trend support(green arrow) so a good buy level with a smaller down side would be around: .000095-.0001 and watch close to the .000108 resistance level. Or in case of breakout which is possible despite the indicators(it's a "new coin" so usually TA is not very reliable in this case) a safe abroach would be buying above the highest candle that closes COMPLETELY above the .000108 resistance level. I like to measure with 1h candles to be safe, you can use smaller time frames if you feel comfortable - the longer the safer. In case of breakout sell target would be around: .00014, if it fails to get there get out quickly profitable, better a small smile than a big tear. Good trading,
by spectertrading
3
Light as a Feather and Stings Like a Bee? A LTC Structural Wave?While long-term I am more bullish on other coins, its possible sectoral performance will provoke Litcoin to form a structural wave above $100 which we can ride. Price volatility is huge, with 20% swings in either direction being the norm. and Litecoin does not always respect the uptrend line, so I advise caution. A break above the current trading range resistance at $66 dollars along with a breach of the fibo resistance at $70 should unlock a test of the previous all time high at $93. It should be noted that there is a strong fibo extension at $83, where profit taking is likely to occur. If we do manage to go higher, a break of the all time high will prove to be a BIG breakout signal, which will take prices to $110 and $131, respectively. Alternatively, the uptrend line may get breached again, but the classic fibo support is just below, so shorting would be tricky until below $47. From there, the major classic fibo support sits at $37. My strategy looks at Litecoin versus Bitcoin, and this chart continues to show weakness: Because of this weakness, you may be better off trading Bitcoin or stronger performing altcoins such as OmiseGo and Monero (see my other posts for stronger altcoins). But since the entire sector has limited capital floating around, these coins experience a degree of rotation, which is why I made a trade plan for Litecoin no less. Cheers and GLWT! -Erik
BITFINEX:LTCUSDLong
by Trader6127
5
OMG! Catching Structural Wave 3OmiseGo has performed well against the risks of capital flight plaguing the altcoin sector over the last few months, managing to stay above the major key fibo level. Currently it has broken through a significant downtrend line, ruptured through BBs to the upside, and is showing bullish signals on the RSI. Its possible we may see a trend reversal, with intraday (swing) trading opportunities. Possible targets for now to the upside are a MIN TP of $15.90 and a MAX TP of $18.79. Alternatively, we could see trend resumption and trade as low as $3.46 before bouncing back to the $10 region. My strategy also involves analyzing the OMGBTC chart, and it should be noted that currently we lack support for a trend reversal in this pair. *This instrument saw a 3500% increase in value from inception to its peak of $13.70, so a further correction is very possible. ***Bitcoin's bullish cycle has expired, and the impact that this variable may have on the altcoin sector is not clear at this time. As always, I'll be updating this thread as we go along. Cheers and GLWT, -Erik
BITFINEX:OMGUSDLong
by Trader6127
12
Another Monero Structural Bull Wave?We have another bullish altcoin! Are we about to see an infamous Monero structural bull wave? Then we need a game plan, as gains or losses between support zones are in the area of 10 to 20%! As of writing, XMR is in consolidation and could breakout above $120, followed by $140. A break of the all-time high of $155 is a BIG buy signal for a MIN TP of $212 and a MAX TP of $305! Alternatively, there is a risk of a selloff below the major fibo support to the key fibo support zone with a base price of $85. From there, if trend lines and supports get broken, we could see price as low as $52. My strategy also involves analyzing the XMRBTC chart, which supports long trades. We don't need a new all-time high, necessarily, against BTC to reach new levels in the XMRUSD chart. As always, I'll keep this thread updated. Cheers and GLWT! -Erik
BITFINEX:XMRUSDLong
by Trader6127
5
Rippling into October (XRP/BTC)After my previous chart, it seems as though the XRP/BTC bubble cycle has been completed and it has found a new floor around 0.00005000 BTC. As you can see there was a similar pattern prior to the previous test pump after a long flat price level on both the candles and the RSI. With the upcoming conference on October 9th I would expect there to be a lot of hype built up and the price to reflect this hype in hope of a huge announcement. Whether there is a real announcement or not, market makers may use this to either test pump or to full on pump the price again. Best of luck to anyone deciding to trade this idea and let me know if you see anything different or have anything to add to this idea. Thanks!
Long
by Brodie_MT
2
VTC/BTC Analysis (1d interval)I am making it a point to keep a close eye on SegWit activated coins, so as to chart their progress over the course of their technical development. VTC is the newest SegWit-activated coin, with 100% of all nodes signalling support. I am excited to see how atomic cross-chain swaps effect prices, and the overall advancement of the crypto-sphere. Here we have VTC in an upward channel that began with news of SegWit activation, a correction following activation (much like what occurred with LTC), followed by a series of channel-spanning waves. A good entry point will be 0.00015, which should be followed by a pump to 0.00025 - a solid 66% profit opportunity. We may spend some time in this channel while development teams work more on LN and other advancements. Ever skeptical, beware of a breakout below the established trend line (bottom of the channel). Once loading at the buy zone is complete, a stop loss at 0.00014 for safety. Overall sentiment for this coin is bullish, expect new highs by mid-month. Buy Zone: 0.00015000 BTC Stop Loss: 0.00014000 BTC Target 1: 0.00025000 BTC
VLong
by tl93