CryptoCoinSpec

CryptoCoinSpec

I'd discussed last time that there were a few hoops BTC needed to jump through before the current down trend could possibly change. One of those was the need to move and stay above the 50-day moving average. As of right now, BTC is now trading above this marker. It now needs to close above and continue stay above if it wants any real shot of changing...

CryptoCoinSpec Updated 

BTC is starting to show a few technical signs that it could be preparing for a new move higher, but still needs to jump through a few more hoops to confirm a new uptrend. The List of Hoops 1. Put in a higher low. 2. Move back above the 50 day moving average. 3. Vortex Indicator turns positive. 4. Main Trend Indicator turns positive. 5. Break the downtrend...

CryptoCoinSpec Updated 

It looked as though BTC had a real shot at the $7100 area after moving above $6600 earlier, but it is now testing the main trend support. For now it continues to hold, but has crossed through twice now. With a negative trend still intact on the daily chart, the current trend on the 2 hour chart doesn't look promising. Maybe BTC can hold support near it's main...

CryptoCoinSpec

After providing a bit of hope on the 2 and 4 hour charts, BTC is almost back to square one on the daily chart. With little chance of a trend change on the daily charts, it's probably best to remain on the sidelines and continue watch the pattern develop.

CryptoCoinSpec

Yesterday, we discussed the need for BTC to make a strong move above $6600 and that's exactly what has happened. Since the slight trend change a few days ago, BTC had yet to put in a big accumulation bar (green in color), but now it has. Since the move above $6600, BTC has consolidated nicely on lower volume and continues to develop a constructive trend. Going...

CryptoCoinSpec

BTCUSD has been sitting near lows for the this year and the daily trend is negative, but the last few days have become more constructive. On the 2 hour chart, BTC has been able to hold the main trend (gray line) which has been difficult the last few weeks. The Sign of Life A move above $6600 with volume could provide the initial spark and carry BTC towards...

CryptoCoinSpec

BTC has continued to make lower highs over the past 5 months and the window for a new uptrend is shrinking. A move below the $6400 could see Bitcoin test the 4700-4650 area before another relief rally occurs. As each day passes, we continue to wait and see if BTC can start trading above the green downtrend line. A move above that line and a trend change on...

CryptoCoinSpec

ETH and following right along with BTC today and producing its first major pivot day in over 5 months. Pattern appears constructive with a sound base to work off of. Stop appears to be in the 600 area for position sizing purposes. *All ideas are for informational purposes only. They are never recommendations to buy or sell.*

CryptoCoinSpec

BTC is working a small cup and handle pattern with today marking a potential pivot point higher (green bar). Overall the pattern is constructive with volume drying up while BTC consolidated the last couple of days. 9750 clears the handle highs and puts the next resistance level of 10800-11350 into play. Position sizing puts the initial stop near 8350. A 1%...

CryptoCoinSpec

After reversing the trend, ETH has made its way back into the resistance zone (650-745). The previous move on the 4 hour chart from 425-650 produced would have produced a nice return of 10-12% to the bottom line utilizing a 1% risk model. What to look for now. More consolidation in the current range between 625-680 on declining volume would be ideal. ...

CryptoCoinSpec Updated 

Bitcoin has had a nice run from the breakout near $7200 until now. A cluster of top markers (orange crosses) recently developed near the top. This is usually a sign that it's time to take a breather. I use them as a visual clue to either tighten my trailing stop or exit the trade. Right now BTC is still above the main trend support which is at $8879.28. If it...

CryptoCoinSpec

ETH closed below its tailing stop around 650, and has reversed course after moving just into overhead resistance. It was a solid run on the 2 hour chart (400 to 650), but distribution bars have taken hold. What now? It's time to wait for ETHUSD to reset its basing pattern and watch patiently for a new entry. Remember that on the daily chart, ETH is in a...

CryptoCoinSpec Updated 

ETH has been on a nice run since the trend changed directions on 4/8. Looking at the entry opportunity, a 1% percent risk model would have allowed 20% of available capital to be allocated towards the trade. Based on that, the current trade would have put about 15% to the bottom line. Will the current uptrend last? Obviously, a trend can continue for much...

CryptoCoinSpec

Bitcoin's relative strength is now higher then it was when it was trading near 9000. Relative strength can be a leading indicator and help gain a feel for where price is headed. The break above 8400 puts BTCUSD on course to move towards the 8800 area. Best of luck! All ideas are for informational purposes only. They are never recommendations to buy or sell.*

CryptoCoinSpec

Bitcoin has been rising along a lower trend line over the last 24 hours and like many of the other coins is showing a strong price move on the 15 minute chart. It's now trading above short-term resistance that was around 8375-8400 area. Initial stop loss around 8090 to 8249 offers a reasonable risk/reward ratio. Just remember that the main trend on the daily is...

CryptoCoinSpec

ETHUSD has been choppy as of late on the 15 minute chart, but it's showing constructive signs this morning with a big price move above 610. Volume is also surging and the main trend is likely close to changing trend directions. All signs point to a reasonable entry with an initial stop that could be placed around 600 on the 15 minute chart. Best of luck! ...

CryptoCoinSpec

LTC is one of the few coins still holding its main trend support on a daily time frame. Current support rests at 152.56 for LTC. Right now LTCUSD is trading within 3 dollars of the main trend line. Also of note is that a bottom alert (green cross) has appeared underneath the current bar. These usually appear at or near trend turning points and can be used to...

CryptoCoinSpec

XRP hit the recent bottom on the 9th and has since been treading water. No real excitement here until a move above .84 cents on strong volume. It's got a pulse but barely! Keep an eye on the .73 cents area as well...a move below that and someone's going to have to use the paddles to keep it from going into full cardiac arrest. Best of luck and trade 'em well.