graham.edwards84

graham.edwards84

BTCUSDT did hit my lower target (red circle) and now has traded sideways somewhat predictably to pull the 200 MA into a horizontal position and begin the turnaround of this important moving average. It did attempt to move up off the 50 MA but this failed and it has now retreated back to the 200 MA to seek the reassuring support that it needs to make the next leg...

graham.edwards84 Updated 

My feeling is that XRPUSDT will respond here with a move to the upside. Bollinger bands are narrowing out and this should indicate a bigger move one way or the other but with the 20 and 50 MAs in a good position in relation to the 200, I would see likely the move will be positive to the upside. Also showing some interesting divergence on the Stochastic RSI.

graham.edwards84

On the three hour chart it does look more difficult to muster the momentum upwards but it is still possible. There is also the potential for a temporary move back to support before the next leg higher. But my feeling is that it is not too far off a rally scenario.

graham.edwards84

Looking at the 3 hour chart, and seeing both the 20 and 50 MAs blow the 200 here, my expectation would be a move to the upside potentially to the channel top forming and possibly 18000. It is also likely that the 200 MA could be turned upward here as I have sketched and this would be a very positive indication of a resumption of the overall upward momentum.

graham.edwards84 Updated 

It seems like BTCUSDT is moving back to the 50 MA for the majority of the corrections. However there is still potential here to hit the lower target of the 100 MA (red circles,) and that should be factored into any decision making.

graham.edwards84

Just one possible scenario that might happen could be a similar double top and from looking at this chart it may also indicate that there would be a substantial fall back here while BTC advances then it would turn and ETH would run again. Just an idea.

graham.edwards84

My feeling is that the 1500 target I set earlier is still in play although there maybe some early exiting and this could slow down the pace a bit with a tiny blip. Potentially if enough last minute shoppers come it then this baby could go to 1600 1700? maybe higher? I've parted out a lot of ETHUSD and moved the cash into some bargains but I've never really had...

graham.edwards84

My feeling here is that the target has been met, being the 50 MA on this 8 hour chart or you can also see it as the 200 MA on the 2 hour chart. This big retracement is typical of a second wave pattern and it usually means the half way point so come on back in and let's run this up to 5 bucks. Sure you can leave it in ETH a bit longer but at some point the entry...

graham.edwards84

So far the 50 MA on the one hour chart has provided very nice support. We are seeing a doji star and we might see another one too tomorrow... It seems like the market has re balanced the buyers and sellers here. We should know very soon, as the 20 MA is within striking distance of the 50 MA and this will provide a decision one way or the other. There is a...

graham.edwards84 Updated 

1500 seems attainable. Just an idea.... thoughts or comments?

graham.edwards84

Maybe what we are looking at here is wave one of a bigger three wave series? Just an idea... Not to say that it won't fall to 11000 or lower first.

graham.edwards84

BTCUSD is still finding great support on the 6 hour chart (pair with 90 Minute chart). It seems an odd level to trade on but whatever... Really big bounce off the 200 MA here and now we will expect a double bottom before the move up begins. I think this next leg up may have some good surprises but we will see after the first wave structure in the set, then maybe...

graham.edwards84

On this 5 hour chart we can see that BTCUSD looks to be breaking out but as Freddie said... Is this the real life, is this just fantasy? Caught in a landslide no escape from reality... Divergence? Trend line resistance?... I guess we will see soon enough what the masters have in store for us...

graham.edwards84 Updated 

The current wave structure is indicative of a move higher than previously posted. My target has been adjusted to the 3-3.20 range.

graham.edwards84

XRPUSD failed to break out on the 15 minute chart and it had a good opportunity to do so. Unfortunately the diminishing strength of BTCUSD and the breakdown on this chart is carrying over to the other coins and affecting the price action. XRPUSD does have another opportunity to move up here at the end of this wave, however my fear is that the move maybe appear as...

graham.edwards84 Updated 

Bullish move up should continue here with the 50 MA moving up through the 200 MA on the 15 minute chart. Target for exit would be 2.20 to 2.40 area yet again. After that I am not convinced yet that the run will continue higher as some of the longer time frame charts still have the 200 MA in a downward trend so I will exit here and wait to see what the retrace looks like.

graham.edwards84

BCHUSD chart always looks like a dog's breakfast. Ugly and lumpy... It looks like it could move up here. Last time we were here it did move up and it is making some kind of morning star doji or trying to. Showing some interesting divergence on the indicators.

graham.edwards84

Seems to be moving in a very similar pattern to the previous wave consolidation. I'm long to 1400 area and will update my targets once it breaks out of this pattern. Some potentially good entry points still exist.