tokenmetrics

tokenmetrics

Apollo 13 was a human-crewed mission to the moon. The spacecraft fell victim to an accident while in space. The explosion on the ship created such catastrophic damage that the head of mission control decided to start the rescue process by determining what still worked on the spaceship. So, we will do the same after the recent crypto crash. We will review what we...

tokenmetrics

With crypto red across the board today, we took a look at Chainlink. Chainlink was enjoying a nice green candle as BTC was falling below 9500 and ETH pressed 188. Chainlink, like many alts, has retraced 23% of its recent decline. We have seen altcoins make significant moves to test their respective 23% Fib numbers -and then fail. So, it's excellent that...

tokenmetrics

The time has arrived to put our bullish theory to the test in Ethereum. 188 is the location of previous horizontal support from both August and September. 188 is the 62% retracement of the recent down up move. So, that is critical support. We also see stochastics as very oversold on a 4-hour bar chart. Bottom Line : This is where dip buyers in ETHUSD should be...

tokenmetrics

Looking at a four-hour bar chart, we can see that BTCUSD is now at the bottom end of its recent range near 9700. So, while some this breakdown does not bode well for BTCUSD based on the triangle formation we drew on the Bitcoin daily chart (not shown), we have to remind ourselves not to give up and get too bearish at the bottom end of a simple trading range. ...

tokenmetrics

Raven is an alt that will assist in tokenizing assets. Based on this value proposition, RVNBTC is worth a look. If RVNBTC can hold support on its 21-day moving average near 316, Rvnbtc might be something you try for a long trade. However, if RVNBTC fails and falls below the 21-day, it will be a repeat of two other instances of the bear market (arrows). In those...

tokenmetrics

This morning's flash crash in BTCUSD isn't making us feel good about our bullish stance for buy and hold investors. For people with very short-term horizons, it's the current environment has to irritating. We added volume analysis to our Bitcoin chart. It turns out that $10,200 is the price where most of the volume has been traded in the recent range. We find...

tokenmetrics

ETHUSD is holding support in the form of an old prior high and the 200-day moving average near 208. As ETHUSD moves sideways, it is relieving a short term overbought condition. Once the 14-day RSI falls to a more neutral level, that could be the trigger for the ETHUSD up move to resume. Bottom Line: That means if ETHUSD range trades for a few days, the...

tokenmetrics

One of the most exciting altcoin charts is Cosmos. There are many things to note. Some are bullish, and some are bearish. On the bearish side, ATOMBTC rallied and then failed, right at the 23% retracement of its June - September down move. Looking at this, you could make an argument that ATOMBTC will return to its low or make a new low. On the more constructive...

tokenmetrics

We continue to see evidence that BTCUSD is coiling for a significant move. We believe a big rally is coming, but we have to wait and see. Between now and October 6, we believe that the range in BTCUSD may continue to compress. The October 6 date matches up with the apex of the triangular formation Bitcoin has traveled in since July. In theory, the closer an...

tokenmetrics

One great trader I once worked used to tell me, nobody what kind of up move you are expecting there will always be a dip. Current price action in ETHUSD is currently proving him right. ETH hit resistance from back in August near 225 and has made a move back toward the 200-day moving average near 208. In the most optimistic scenario, ETH would hang out around the...

tokenmetrics

ZRXUSD is the first alt we have looked at where we feel that strength begets strength. In ZRXUSD resistance is at $.026. That may only hold temporarily as the up move may target the high of the previous 4th wave near $0.40. Bottom Line: Coinbase users that missed the Stellar spike may pour into ZRXUSD until it reaches $0.40. There are so many Coinbase users...

tokenmetrics

Bollinger Bands may have some value for the short term ETH read. The recent rally in ETHUSD was so vertical that it took ETH above its Bollinger Band. When a market takes out the top Bollinger band, it can imply a one or two-day consolidation may be in order. If ETH consolidates for a day or two, we believe it is building up steam to take out the top of a high...

tokenmetrics

We are not going to lie. Even the though BTC fell to a perfect spot on the chart near 9700, we would lie and tell you the move didn't scare the daylights out of us. Anybody who lived through 2018 sees those sudden lurches and fear the start of something worse. On the flip side, we can't lie and say we weren't elated to see BTC recover. We were even more happy...

tokenmetrics

After a big move in the last 24-hours, we looked at ETPBTC. As with many alt-coins, the recent rally has brought the coin right to the top of its previous 4th wave and a big Fib speed resistance line. In the case of ETPBTC, if it can close above 8782 on a 2-day chart, there might be reasons to say a legit bottom is in here. Bottom Line : Generally speaking,...

tokenmetrics

In our view, last night's drop in Ethereum (ETH) made the bullish technical outlook stronger. ETHUSD bounced nicely off the 200-day moving average. Also, after seeing the price action last night, we revised our wave count. We now believe the critical "previous 4th" is at 205. If ETHUSD can hold above 205, then a significant bottom is in fact in place....

tokenmetrics

With the disappointing drop below 10k, it is tempting to feel like Bitcoin is in an endless range. While we agree that this range has officially become annoying, we also continue to believe consolidation will end soon. Last night's drop to 9700 brought BTCUSD to the bottom of a triangle and the bottom Bollinger Band. A Bollinger Band is a measure of volatility....

tokenmetrics

Looking at the chart of XLMUSD, we see substantial resistance near 0.86. That resistance comes from both the 50-day moving average and a diagonal Fib resistance line. The Fib resistance structure that dates back to last year has provided strong resistance in XLMUSD. The level we think that a confirmed bottom would be is .98. So, XLM has more work to do before you...

tokenmetrics

In technical analysis, flexibility is essential. In Ethereum, we are going to switch the time frame to a daily chart. By doing so, it allows us to look at the 200-day moving average. In equities and bigger asset classes, the 200-day moving average can be significant. Catching a burst above the 200-day can help you get on board with a major uptrend. Looking...