BTC BITCOIIN

Bitcoin (BTC)

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Click Chart to Enlarge

Bitcoin

The current leg of this Btc wave is consolidating and I think enough time has gone by to assume where the horizontal support is being drawn. The last wave ended with a large doji and a fair amount of sell volume. If the price falls under the green line scalping shorts seems like a fairly safe play. 

June 14 2016

 

Lisk (LSK) to BTC Comparison

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 Lisk to BTC

This is one of those ” a picture says a 1000 words charts”, so I am not going to dilute it with commentary. Basically, it sure looks like LSK is lead BTC. That seems crazy, but with The DAO flat and ETH in a bearish phase all this LSK volume is going to good use. There is no solid prediction being made from this, just that traders should watch these markets because is they do stay synced together then it is a great edge for entering and exiting BTC at the most favorable times.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 8 2016

 

BTC Support Bitcoin

Bitcoin (BTC)

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Click Chart to Enlarge

Bitcoin

BTC is moving back towards its key horizontal pivot so let’s take a look. The left frame of the chart shows a line that has been the bull/bear pivot when only accounting for the bodies of the 1D candles. Wicks are great price action for daytraders but swing traders are mainly looking for the strength of a trend. This is why I simplified the 1D view rather than putting to much weight on all those spike tops and bottoms.

 

The right frame of the chart shows a more detailed picture. The line from the left frame transposed over the 1H chart shows just how important that level is. On the way up it was resistance and lately it has been support. The sloping trend line support and the horizontal support are converging as price heads towards the yellow circle. Since the yellow arrow indicates a double bottom the yellow circle would also represent a triple bottom of sorts. There for it is key for price to stabilize in that region or else the bears will come alive. The next support zone is 561-55 on the BTCUSD3M chart.

 

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June 7 2016

$LSK

Lisk (LSK)

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Click Chart to Enlarge

Lisk (LSK)

Yesterday Lisk pinpointed the pivot, which turned out to be bearish, and that trend is making a correction. It is impossible to know if this is a deadcat bounce or another leg up, but it seems well worth trading while it shows strength since it has a fair amount of volume and liquidity for traders to enter and exit.

Chances are if it rallies fast with very large candles then it is a deadcat bounce. If price retraces to test support and moves sideways and up then it will be a stronger rally. Enjoy the break in trend while it lasts.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 7 2016

 

LSK

Lisk (LSK)

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Click Chart to Enlarge

Lisk Tokken (LSK)

LSK is currently making an important pivot point. The current set up on the 1H is very similar to both a bull and bear set up. The bearish set up (yellow) and sell off was after a very fast run up after launch. Where as the bullish set up (green) was a more shallow slope with sideways action before breaking up. At times LSK seems to be tracking with BTC, so perhaps that is worth watching if you are trading LSK. Price becomes technically bullish once it is above the white down trend line.

 

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June 6 2016

 

 

Ethereum to Bitcoin Comparison

ETH to BTC Comparison

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Click Chart to Enlarge

Ethereum to Bitcoin Comparison  (ETH/BTC)

Still following this fractal very carefully. If the price does not break above resistance then this noteworthy pattern stays intact. Being able to use pivot points to long and short is key for a trader. Use the set up wisely. With BTC showing strength shorting ETH in relation to the waves on the fractal should be more profitable.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 5 2016

 

Ethereum (ETH) to BTC Bubble Comparison

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Click Chart to Enlarge

Ethereum / Bitcoin Comparison

Here is a recap of this fractal again and what to expect through out June. We have been trading this for a while now, so until the fractal is invalidated it’s best to assume it will continue isn’t it? I think so.

The only real way to invalidate it is for the price to breakout above the white wedge the price is currently trending inside of. Other than that I think the picture tells the tales of highs & lows better than I can describe it.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

June 1 2016

 

LTC BTC

LTC/BTC

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LTC/BTC

The LTC/BTC ratio is recovering from a sharp sell off in much the same way as last time. The blue candle from yesterday is an unconfirmed reversal, and as you can see the price is above the daily cloud.

 

Since price is right up against resistance it is more safe to enter on a breakout above the trend and to add to the position if a higher low is confirmed after the breakout has a short term retrace.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 31 2016

The DAO had a lackluster launch

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Click Chart to Enlarge

The DAO

The DAO had a lackluster launch and is currently consolidating. Price is hovering near the 78% FIB and is more than likely going to go down a bit to at least confirm a higher low. If you are bullish on DAO then this next dip is a key entry point. Bulls are looking for a higher low which finds support above the trend line.

May 29 2016

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