TomProTrader

TomProTrader Updated 

Price appears to be rolling over but we are still edging towards the cliff-edge since it is so close to confirming but isn't there just yet. If I had to choose a side however, I'd say downside now. When analysing again, I discovered a new side-wards resistance which supports the downside. As well as the side-wards resistance, there is a 50 moving average...

TomProTrader Updated 

Price is right at the support level where I'd really like to see the bounce to the upside. The reason I like it is because of the nice Fibonacci retracement support here, along with the major moving averages which could act as a support. Whilst we approach it, we must explore the possibility that the level will fail (This is just common sense of trading) and...

TomProTrader Updated 

There's potential for a quick long here providing a couple of conditions are met. As it stands, price is very nicely on the Fibonacci Retracement support level, and sitting on the major moving average support, as well as the 50 moving average support, giving a very strong support ceiling which could be a great launchpad for upside potential. Price likely won't...

TomProTrader Updated 

Was doing some thinking and analysing over Bitcoin as I do everyday of the week and discovered something that's of a lot of interest. When analysing Bitcoin previously, I did notice a small structure triangle before, but I was taking further heed to the bigger picture, which is the bigger triangle, that you may have seen in my previous Bitcoin ideas. If you...

TomProTrader Updated 

Price is beginning to roll over EXACTLY AS PREDICTED :-), technicals support at least a corrective move to the downside before some upside. Although my arrow does indeed go very low, this is just the worst case scenario though and doesn't mean it has to go this low. Price nicely hit the side-wards resistance line with the wick I mentioned in my previous analysis...

TomProTrader Updated 

BTC appears to be under converging moving average resistance and is rolling over quite cleanly. Looks like price could go to the downside before going to the upside. Price appears to be falling down, and had the converging moving average resistance hold it's own, then price will go down to the horizontal support zone between 6070 and 5790 before then bouncing back...

TomProTrader Updated 

Price has managed to hold it's own quite nicely right at the resistance level. So for now, I am eyeing a possible entry scenario for Bitcoin. For this analysis however, the entry is only CONDITIONAL, and will ONLY be valid if a few CRITERIA are met. Criteria for entry are as follows: - Bitcoin needs to hold it's own and then break the side-wards resistance level...

TomProTrader

Price is at a confusing level still, and we're waiting for a proper breakdown signal before we jump into the marketplace. Price had a green candle with a large green wick, and since then, it's been pretty side-wards. There's some technical factors to bear in mind, such as that price is still right at the 20, and 50 moving average resistance level, therefore from a...

TomProTrader Updated 

Bitcoin had a nice pump up which is great, but this is to viewed with much caution. Fundamentally speaking, there's a lot of stuff flying in the air at the moment and trading into Bitcoin could post risk. Do your due diligence and most importantly, ignore nonsense rumours, follow the facts only, not speculation. A nice green candle would usually show massive...

TomProTrader

Ethereum has so far had an interesting wick - made by Bitcoin's huge move up yesterday and push down again, causing the phenomenon. It is going EXACTLY as planned so far... However I think that could change if Bitcoin does negate this wick and bump up once more due to the cutthroat moves we are seeing... I see a lot of investors emotion in this market at the...

TomProTrader Updated 

A brand new analysis here, ready for Monday's fresh week of trading :-) Bitcoin showing slight clarity, where it's clearly having a corrective move. I don't expect this to have major conviction and thus will stall at side-wards resistance before falling down, rather than just tanking like that that could have happened before. There's 2 outcomes to this: 1)...

TomProTrader

Bitcoin seems to remain in low position intraday and on the daily itself. Still at the mercy of the big red candle before it, it doesn't look like it's about to go "to the moon" anytime soon. A waiting game, at least a bounce on support before any reactions can logically take place. React before that, you're at risk. Hence the "up or down" analysis. Anyone who...

TomProTrader Updated 

Price is now approaching the all important support zone, that has been the only thing keeping Bitcoin above 5.5k for absolute months. Price has been making consecutive lower highs since May, with no sign of easing at all. This is concerning, because the most recent lower high is dangerously close o the support zone breakout. If the horizontal support zone is...

TomProTrader

Ethereum came down nicely, breaking the side-wards support line EXACTLY AS PREDICTED :-). Anyway, price is having a minor recovery for the time being. I believe the downside is still the probably outcome, however the small green daily candles suggest we could get a small recovery rally, likely simply retesting the side-wards support as a new resistance before...

TomProTrader

Ethereum has played out the outcome - from my previous Eth analysis (See related ideas below for more information on my previous ETH analysis). Looks like we're coming in nicely lower now with little technical obstacle to actually stop it from happening. Bear in mind that if price breaks to the downside, it does NOT necessarily mean that price will come to 124......

TomProTrader

In my previous analysis I zoomed into one of my scenarios from my previous analysis, and laid down some criteria for whether the bounce was going to work or not. Let's review the quotes I said from the previous analysis: "That's good stuff... But doesn't mean a lot if some factors don't come into play" "Bitcoin did just hit the massive converging moving average...

TomProTrader Updated 

Litecoin has been at the mercy of technicals for a while. It just seems to get beaten down repeatedly which is a shame because I actually think it is a fantastic project overall but oh well. The market doesn't care what I think about the project, markets are not run by emotions. LTC is currently trading up at the side-wards support line after some higher lows ave...

TomProTrader Updated 

Bitcoin appears to have bounced EXACTLY AS PREDICTED on the side-wards support! That's good stuff... But doesn't mean a lot if some factors don't come into play. - Bitcoin did just hit the massive converging moving average resistance above, and needs to break and retest that to confirm the bounce actually worked before this qualifies as a successful analysis -...