jzpur

jzpur

7400-8400 has been a key zone of support and volatility. If we break here, it could be catastrophic for the momentum. Traders are expecting a big wick to the upside/downside. As we head into Thanks Giving, I think there's a chance we just trade sideways for a while. I could see us having a slow grind up heading into the halving. Based on the historical context,...

jzpur

As mentioned in my previous post I've deployed most of my trading capital at these levels. I've kept some cash on the sideline in case we get a bigger pull back. We continue to make higher lows creating an ascending channel. This structure has not been invalidated and continues to foster support from buyers. To invalidate this structure, we would need to see a...

jzpur

In the next few days(maybe today), we'll get a better sense of the price trajectory. My original bullish thesis is still valid for now. You can see the strong buying support on the 4 hr charts through the powerful wick action. I remain overall bullish on the digital asset space. I've noticed an uptick in main stream coverage of the digital industry. Many giants...

jzpur

I've recently unloaded most of the cash I accumulated after selling bitcoin and alts when BTC was trading north of 12k. I always have cash on the sideline just in case my trading thesis ends being invalidated. Aside from the parallels I see between 3-4k and 7.8-8.8k levels, the macro picture for crypto is looking good IMO. I believe we could be headed into leg up...

jzpur

In managed markets TA doesn't work as well. With that being said, I'm going to detail my tentative strategy for the upcoming year. But first let me outline the reasons behind my bullish thesis. 1) All banks are racing to zero or negative rates. - At zero banks are just printing money and handing it out. With yields dropping, banks/funds will borrow money and buy...

jzpur

Before this move up, bitcoin and others were getting ready for another leg down. Volume profiles for most cryptos looked dismal at best. However, the order books were filled sizable orders between 8-9k region. Unless new volume materialized, we were likely to trade side ways until the buy orders were filled or dried up. The million dollar is question: Where did...

jzpur

This last move up in btc and ltc seems a little suspect to me. Fed cut and/or the events in Hong Kong may have precipitated the move. In my chart, you can see LTC is facing significant resistance in the red zone. Given we are close to the halving event, I doubt we break it. If the halving doesn't have an immediate and positive impact on the price, I think we'll...

jzpur

Tentative Game Plan: I closed some shorts around 205, held some shorts I started around 280. I layered in new shorts which I plan to close on the next dip. Marco appears bullish, but given the weak volume I'm bearish for the short term. If we get the dip I'm expecting, I'll begin adding longs. I'll begin with low leverage until we confirm support. As we gain...

jzpur

This morning was one hell of a show. One green dildo, double penetration. cdn1.imggmi.com First bitcoin wipes out all the bulls by dropping to 9200 region. Many leveraged longs with loose and tight stop losses get closed out = fu**ed. Next the price rose over 1200 in a hour to crush highly leverage shorts = fu**ed Personally, I added to my another short...

jzpur Updated 

It appears the cup and handle we were anticipating didn't play out. Given the bearish divergence on across multiple indicators, I believe leverage traders will begin shorting LTC while its vulnerable. The next two support levels to watch are $125 and $110. If my previous BTC chart plays out (which it has so far), BTC will be making a new high. Once we hit $11.6...

jzpur Updated 

Unless there's a major breakdown, I believe this is still in play. I'm converting vulnerable alts to btc, and putting in a tight stop loss to protect my profits for the week.

jzpur

Full Disclaimer: Below is my working theory, not to be taken as financial advice. If this theory is incorrect, we could be headed for a 30-40% correction. Volume is relatively thin, big moves in any directions are possible. I believe most traders are not taking into account the marco picture. They'eve learned from their mistakes in the 2017 bull run and believe...

jzpur

The bulls aren't going down without a fight. Double bottom W formation was turning into a great bullish set up, but I believe the brief Binance shut down took away the momentum from the bulls. We're at an inflection point and in my opinion this the last chance the bull have to change momentum. If they fail here, I think we see a big move down to the next support...