CrackingCryptocurrency

CrackingCryptocurrency

Truth.

CrackingCryptocurrency

Give it a couple weeks and wait for a stop loss hunt. Set buys around 0.000165 and 0.000162. Below 0.00161 we're a goner.

CrackingCryptocurrency

Price did pull back to the upper area of Support 1. Fundamentally, I'm biased to be long on Bitcoin Cash until November 13th, which is my traditional strategy for trading hardforks and listings. (The only time this didn't work was ONT.) If 580 can hold still looking at our upside Targets. If 565 doesn't hold, looking to re-enter closer to 500.

CrackingCryptocurrency

Price pulled back to test Support 1. Higher time frames concerns me because of capitulation candlestick formation. However on lower time-frames price looks more bullish, at least in the short-term. Due to potential (albeit weak) reversal candlestick formations. Longs still maxed out, and shorts have not stepped in. Typically we don't see price crash until the...

CrackingCryptocurrency

Following the dumps of yesterday, XRP did re-trace nearly to .618 Support at .47. Most likely price moves lower on XRP, more profit needs to occur. Likely 0.47 will hold, and we will look for a re-test of resistance at .53. Otherwise, bulls must hold ascending triangle & Fib Support & Volume Support at .45 Cents. If this level isn't held, most who bought in...

CrackingCryptocurrency

Price pulled back to test Support 1 No predictive crossover on the Fisher to tell us to enter a long position on the higher time frames. The 1 hr and 4hr look tentatively bullish, however I need more volume to believe it, or a Fisher Crossover. If Support 1 Holds at 210, price will likely re-test 218-220. However, if volume is not able to rally behind longs,...

CrackingCryptocurrency

Price did pull back to expected support. Initial support was tested, price retraced to the upside before capitulating to the lower level of support which was the PoC. Most likely, due to Shorts vs. Longs being unstable skewed to the short side, price will experience a reversal at his level and move to the upside. If 6400 is unable to hold, next support at...

CrackingCryptocurrency

Sometimes it can be hard to be bullish in a bearish market. On this, the first day of November, we have competing psychological ideas that are swirling around the mind space of the Bitcoin market. On the one hand, we know that overwhelmingly the market has been bearish, for most, disastrously so. We should know, as traders, that it's generally unwise to trade...

CrackingCryptocurrency

BTC/USD Bitcoin, as I posted last night, appears to be accumulating more than it seems to be re-distributing. When a market is in a period of consolidation, it is either accumulating, meaning there is more buying than selling occuring, or distributing meaning there is more selling than buying occuring. Which type of consolidation we are in lets us know which...

CrackingCryptocurrency

Bitcoin's back in yawn mode? I talked yesterday in my live stream that if we didn't close yesterday's daily candle or today's daily candle up at the .618 retracement that we'd be looking at drifting further down. We can see here that the bears are still in control, as we start edging closer back down to yesterday's low. Looking here at the weekly chart we're...

CrackingCryptocurrency

These are the setups I've taken pains to describe guys. You want to make your buy at the height of maximum pain. Everyone that purchased in when price was wicking down is for the most part happy. Shorts have spiked and longs have fallen off, indicating that retail thought that price was going to go down. Now this is not the complete full height of pain...

CrackingCryptocurrency

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CrackingCryptocurrency

Now for our favorite alt that gets to play with the big boys now in daily analysis. XRP is really the coin everyone's banking on to make them rich, or dreading will make them beggars as we've been reporting on for sometime now. So here's the skinny on XRP. We're flat in a consolidation range. We have respected the daily high and daily low on closing basis. ...

CrackingCryptocurrency

Amazingly range bound again. The daily range has narrowed to an incredible $19 dollars, from a daily low of 6394.70 to a daily high of 6415.08, going off closes. Amazon stock is more volatile than Bitcoin right now. Now I'm not suggesting you rush out and set up retail brokerage accounts, don't forget we have the alts to play with. However, to each their own...

CrackingCryptocurrency

Ethereum actually looks a little more bullish here than yesterday. We're still looking to form a new daily low after breaking down from yesterday's daily close. However we can see lots of buying interest in the market absorbing Ethereum's momentum here, indicated by the long tails on these candles. We also see an uptick in selling volume with nearly no momentum...

CrackingCryptocurrency

BTC/USD Our wedge pattern broken down last night. I've spent the morning researching the fundamental reasons that might be behind the drop in price. The largest speculation is the mass exodus of USDT from the Bitfinex exchange to Huobi and Kraken, where traders were offloading their USDT for other assets to get out of the market. This exodus was large enough...

CrackingCryptocurrency

XRP broke out of the descending wedge pattern, ran up to the .236 Fib level and pulled back to retest previous resistance as support. However it did so on very low volume, so the breakout was extremely unimpressive nor vitally important. If we maintain this level however, we have still formed a higher low, so I've plotted a potential new ascending trend line. ...

CrackingCryptocurrency

The symmetrical triangle pattern is holding. We've had to readjust it several times over the past week to maintain it's levels, however it hasn't made a break that would cause us to question the current range. As I've stated above, range-bound assets are difficult to trade. Easy to scalp, difficult to trade if you're time frame is longer then a few hours. ...