Bitswift (SWIFT): Nov 20 2014

SWIFT nov 20

This chart was contributed by one of the members from the CoinStreetNews TA forum. With the RSI now overbought and price action starting to fluctuate it is a good time to look at SWIFT. Watch the 1H-15min BBands for confirmation of a breakout before entering the trade. If it does breakout the first levels of resistance are around 1500 & 1900.

Bitcoin (BTC): Nov 20 2014

BTC nov 20 csn

BTC acting terribly right now. Buy support is a sloping trend line around $350 on BTC-e and the 4H should bounce to MA in a few hours. A strong sell signal, in this particular bear trend, should be just after the 4H MACD turns green while it reaches towards the sloping resistance trend line. If price breaks above resistance it would be safe to re-enter. But for now the channel on the 4H is currently the safest trade.

Dogecoin (DOGE): Nov 19 2014

DOGE nov 19

DOGE continues it’s downward slid. Not bullish until it gets over the downtrend line. It is currently riding on Lower BBand too. As the chart shows it is hanging off of the MA as well. If you are a risk taker I would suggest buying any large spikes under the MA to catch the snap back.

Bitcoin (BTC): Nov 18 2014

BTC nov 18

Yesterday we looked at the bullish view for BTC, today is the bearish. This seems the more logical of outcomes. After ride up on the MA’s and above the BBands BTC has sold off and should be forming a protracted deadcat bounce into early December.

Bitcoin (BTC): Nov 17 2014

BTC (2) Nov 17

BTC is doing exactly what it should be at this point of it’s cycle. After bouncing off of the 61% FIB line bets are on another wave of upward price action, but for now wait for this current bounce to end and play the wedge that will be forming on the 1Hchart. Day Traders should look to 15min for the best action. Buy & Hold investors look towards the 4H chart .

BTC & DOGE Inverse Relationship

Doge & BTC have an all most perfect inverse relationship.
Doge & BTC have an all most perfect inverse relationship.

They say “a picture says a 1000 words”, I think this chart says a lot more than than. Without clouding the point, the majority of the time BTC & DOGE move in opposite directions and the type of move is often similar. If this relationship continues it would seem as if BTC has more upside to go.

Day Trader Coin (DTC): Nov 14 2014

Day Trader Coin is absolutely on fire!
Day Trader Coin is absolutely on fire!

Massive support, a 7 day bull run, and on the C-Cex “Hot Coins” list every day. This has been CSN’s go-to AltCoin pick all week. Once this is on Bittrex with the extra volume Day Trader Coin is sure to keep rising. It’s a sleeper, you heard it here first!

 

RT here and help them out:

That logo is super fresh too!

AltCoin Market Cycle

We recently discussed the anatomy of a dying coin, and today we examine the anatomy of an AltCoin Market Cycle.

The charts above show the same type of market cycle on the 1D and 1W timeframe. The pattern can also been seen on 1Month charts of very bullish coins, eg. CLOAK and KEY’s previous moves.

Most bot driven AltCoin Bull Markets have the same elements in roughly the same shape. Knowing the elements are crucial to identify where you are in the overall shape. Eg: The tip off to the markets potential, the first accumulation, and the beginning of a market cycle.

The Cycle is as defined in the charts as: 3 steps up, a blow off top, and then sell volume flashes during blow off top before Bear Market begins.

The Bear Market starts as a wedge near the blow off top, followed by 3Dragons, and finally the spike bottom be next accumulation zone. The cycle will now repeat if the price action has stayed above crucial FIB levels and retains a bullish chart pattern.

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