protechtor

protechtor

The crypto world caught a bid with volume earlier today timed with good news and many crypto's at critical trendlines. A well timed letter from the head of the FSB burst across news sources in advance of the G20 Summit stating that cryptos do not pose a risk to the global financial system. This takes pressure off of crypto in the form of uncertainty around policy...

protechtor

Steps 1, 2, and now 3 complete! Working now on Step 4: 200 EMA. The flat, range bound action has driven volatility and volume to anemic levels. One predictable outcome of low volatility is that it precedes higher volatility. Check out my Feb 25th update on the origin of the 7 steps.

protechtor Updated 

An analysis for long term HODL'ers and investors. Daily XRPUSD log chart shows highly speculative future price movement. 2 primary ideas behind this view. 1) The first is that the 200 day EMA provides support for long term moves in price. because it is based on 200 days, it ignores daily shifts in prices and shows the long term trend. When the massive bull move...

protechtor Updated 

My roots in applying Elliott Wave as a tool to navigate markets goes back almost 15 years. Many people are confused by Elliott Wave, considered it useless, arbitrary, subjective, etc.. I have found it helpful to become an expert in Elliott rules and guidelines for one primary purpose... to aid in understanding points of major trend changes to manage risk. I use...

protechtor Updated 

Steps 1 & 2 complete! Working now on Step 3: 50 EMA.

protechtor Updated 

The support zone is holding and rejecting all price attempts to pierce it so far, however, the reactions from moves into the zone have been met with only tepid buyers and low volume. Overhead resistance is 50 and 200 EMA. Price is still within the short term bear channel (green lines) and has been unable to break out of it. All attempts to break above the...

protechtor Updated 

So far since recent lows, bitcoin is following a classic pattern. Trend channels are clearly defining price movement. The bull move up from recent lows is retracing. Standard retracement zone is between 31.8% and 61.2%. Most retracements in a bull market end in these areas. And, if we are to play the leg up as a resumption of the BTC bull, this is important. Look...

protechtor Updated 

Not quite as challenging as its 12 step brother, graduating from the seven step program is required for the bulls to find clearer sky's ahead. Certainly possible in the land of crypto (cleared through significant resistance on December 12th like butter), but will need to see some serious volume catalysts to do so.

protechtor

Near textbook price action for H&S breakdown. Sideways action between support zones with bearish bias. BITSTAMP:XRPUSD

protechtor

Long term view. We are correcting a massive move up to near $3.30 and have strong support so far at 50 day moving average (all price below has been bought up to form two long wicks.). If 50 day moving average breaks with a daily close below, we likely head down to 100 day moving average, which is also right along major trendline support (non-log). The move up to...

protechtor

BITSTAMP:XRPUSD Wow! What a show! XRP blew out the top of the channel (as mentioned 12/26) with volume on its way $2.47. Steeper channel formation in progress (old trendchannel is now in grey, new in green). We appear to be in a low volume range trading/consol pattern now (pretty wide range). This will change after the holidays once volume on exchanges picks...

protechtor

Posted below on 12/26 as a "private idea" instead of a public one... Expect a test of ATH -0.21% . If breakout, expect test of upper trend channel. var tradingview_embed_options = {}; tradingview_embed_options.width = '640'; tradingview_embed_options.height = '400'; tradingview_embed_options.chart = 'VZr9JJCz'; new...

protechtor

It appears that XRPUSD is forming a trend channel. Lots of "touches" on lower trendline (and a false "break"). Will it continue to hold? If yes, possible move to the upper trend channel (new ATH). If not, defined support below. Merry Christmas!