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31.7.2019 - Enjin Coin ( ENJ / BTC )Hi traders! We are going to analyse ENJ/BTC today. It's the first time we are going to look at low cap altcoins against bitcoin. Why just now? It's not any secret, bitcoin dominance has been falling . Despite this trend, many altcoins look very good on charts. Crypto cycle has remained the same. Growth - fall - connsolidation and again. As bitcoin was rising from 3 600 to 13 000 USD, altcoins were falling. The fall was really extreme in some cases. Similar in the case of Enjin Coin. Consequently, altcoins started to consolidate and grow gradually. In the recent days, some altcoins have been growing more substantially and have done interesting percentage. One of the next rising stars could be ENJ. For small altcoins against bitcoin we use 4H chart and BK method , which is based on moving average. Falling wedge can be seen on the chart, it's a pattern that changes trend . Moreover, we are above MA77 too. Despite the price decrease in the last hours, ENJ is going towards growth. There's so much space for this growth . While bitcoin consolidates or decreases, altcoins have an opportunity. A pump wouldn't be unussual either, because ENJ is followed by a bunch of traders on Telegram. It's highly probable its time will come in the upcoming days or weeks. It's very important we have broken from falling wedge and now we are going confirmation. Our top priority is to stay above the trend line and MA77. May the Crypto be with you!
Long
by DolleroTechnology
NEO/USD analysisHi traders! Let'shave a look at NEO/USD analysistoday. If you are going to readcarefully and compare charts, youwillfindtheanalysisapplicablefornearly all big altcoinsagainstdollar. We are currently 99% done withthecorrection and wave B/2.There's a fallingwedge at the end of thewholedowntrend, whichwasbrokenupwards. Fallingwedgeistypicalforwave 5. At thesametime, fallingwedgeis a reversepattern and so itflipsthe trend over. Trend reversalisn't a surprise in thiszone, becausethere'sanotherverystrongfibo 0.65-0.786 zone at thegivenprice level. RSI reportsdivergencies on 1H charttoo. As a result, wehavethreestrongcharacteristicssuggestingthecorrectionis at the end.Where to set thetarget? In suchscenarios, wealwaysnotice more conservativetargets. Yetit'sunclear, whether market goes to wave C or wave 3. Thereforewechoose more conservativetarget at the level of 0.786 - 1 fiboextensionprojection AB. Talkingaboutpricerelations, we are at about 14.75 - 15.60. In turn, wecandecidewithintheseborders. Thegivenzoneisourclosestcheckpoint and it'spointless to thinkaboutotherpossiblemoves. As wementionedabove, someotheraltcoins look similar. Although, some of them are notfinished by fallingwedge. The market lookshealthy depsite thecorrection and nowweneed a clearsign of growth. May the crypto b ewith you!
BITFINEX:NEOUSDLong
by DolleroTechnology
ETH/USD analysis Hi traders! Today we are going to look at ETH/USD analysis on Bitfinex . ETH is now undertaking soft correction as well as all the other altcoins. However, where could the correction come to an end? Trading is a game of probability and statistics and therefore we are going to introduce you to 2 possible scenarios and going to assign them a % chance to achieve success. Let’s begin. Scenario nb. 1 We are in the B wave now, which is taking beautiful triangle shape. The triangle formation is characteristic in a way that there’s the last move in the given direction after it. It’s mostly in the 4th wave and there’s always the 5th wave after it. Speaking about correction waves, it’s always after B wave and yet there’s always C wave after it. In this annotation, we would take the triangle height as a target. To manage bounce-zone more accurately, we move the triangle height both to upper and lower triangle trendline. Now we have potentially reverse zone for the graph to bend back. In our case it's the price level of 239 - 265 USD. That's where the C wave should end and bounce. Probability - 70% Scenario nb. 2 In this scenario, we simulate a less probable option - we would break the triangle upwards. It's less probable, but it sometimes happens. In such a case the whole correction would be finished in C point in the triangle. It wouldn't even be a triangle formation but rather a classic ABC correction. In the moment, we would finish the 1st wave. That's an alternative scenario. Probability - 30% Summary ETH doesn't look bad and its correction won't bring new bottom , or any fatal price decrease. The correction appears totally healthy and we can expect new growth by several days, maybe weeks . Some other big altcoins look alike.
BITFINEX:ETHUSD
by DolleroTechnology
1
XRP/USD - Two possible scenario.Hello traders! Today we look at XRP / USD analysis. XRP is the 3 largest cryptocurrency by capitalization. This coin is typical in that it has an absolutely different graph and structure than the remaining coins. Most people still remember it from 2017 when they made an extreme increase in 1 month. However, since then it has been very weak from XRP. Current Condition: Currently, XRP is finishing the 5th wave, which is beginning to look like falling wedge. Falling wedge is an absolutely typical pattern for recent waves because it's a reverse pattern that rotates the trend. The graph also shows the support that holds the entire structure. So it is quite possible that XRP starts to spin just before this support. However, this construction is very obvious and it may happen that the graph into the blue zone will not happen because the purchase orders will come sooner. Once the XRP turns, its next move will be absolutely crucial. We must always think of several scenarios in trading. In the case of XRP, these two are considered. Option 1 XRP completes its decline and turns either in our zone or already in front of it. Subsequently, it corrects upwards somewhere between 0.382 - 0.318 fibo levels and downtrend will continue. This may be the most logical and most likely to be technical analysis. But it has one big BUT and we will describe it in option 2. Option 2 It is precisely that XRP will turn and rise. Therefore, it will not only correct the retracement, but it will continue to rise and this option is highlighted by a green arrow on the graph. The most likely would be the first option, but we have to look at the market as a whole. Bitcoin and other altcoins look really good and once Bitcoin and the rest of the alts are going to grow, XRP will not be an exception and simply go with them. Therefore, we must also consider the second option. conclusion If XRP fails to confirm its growth, I might be aiming for the very bottom support that holds us for the last half year. However, it is likely that if the entire market grows, XRP will also be raised. We have an analysis set up and now all we have to do is wait until the XRP reaches the blue zone, where the scenario will be valid. Prepared Ing. Jakub Kralovansky
BITFINEX:XRPUSD
by DolleroTechnology