Reddcoin (RDD)

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Click Chart to Enlarge

 

 Reddcoin (RDD)

 

I have had a lot of requests for Reddcoin (RDD) over the years, so here is an update. The momentum on the weekly chart is down with a strong resistance at 14 Satoshi. A breakout above that will send the general public into the market and not just die hard fans. Those same die hard fans should be buying the heck out of the 4 Satoshi level if the price continues to move down this price channel in oversold conditions as seen on the daily chart.

 

Support should be at 4 Satoshi. The micro trend breakout is at 9 and would send the price to the hard resistance at 14. A breakout of 14 would signal a larger bull market in which many more traders will participate leading to higher volume for the low buyers to exit into.

 

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BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

Disclaimer: http://www.coinstreetnews.com/disclaimer/

BTC BITCOIIN

Bitcoin Choptoberfest

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Click Chart to Enlarge

 

 

 Bitcoin Choptoberfest

 

Bitcoin (BTC) continues to keep playing out the equinox and then slow upwards chop pattern. On a weekly basis the price does drift upwards, but daytraders tend to get chopped up in this environment. The main reason that happens is the lack of patience.

 

By continually attacking the support trend and pushing through it a few dollars at a time it forces most people to cut their positions because they are tired of waiting and will “just buy the breakout”. I say this all from a bull bias because both the fundamentals and the technicals point towards a likely third bull wave for Bitcoin. However, for that to happen people must start shorting the market. Therefore I think the market makers will continue the cat and mouse game of mentioned above and that it will continue until the market gives up buying the dips and/or starts accumulating shorts.

 

Our motto for the season is “relax and wait”. It will be tough to have a margin position on many exchanges due to fees if this extended chop continues. Best trades based on the past 2 cycles were to buy the retraces on the yellow line on the chart. Below that would activate a short position.

 

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BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

Disclaimer: http://www.coinstreetnews.com/disclaimer/

BTC BITCOIIN

Bitcoin Pivot

 

bitcoin bull Trend Pivot

 

Ƀitcoin is at a major price pivot right now. The structure of the last 3 bull market moves (see chart at the bottom of the page) is very similar, and in the coming days it will have to pick a direction. Currently the price action is more like the bullish fractal in the center of the chart than the bearish one to the left of the chart. The daily candles are printing neutral grey, which is too bad because even the slightest bit green or red will kick start a trend.

 

There was not a large blow off top price spike to mark the top of this last bull run, so the possibility of more upside has to be entertained. The StochRSI is about to cross 50 and head to oversold. We are seeing clear diminishing volume on the chart as well. This is important because that type of volume profile resolves itself with a large move and rarely a small one. If this plays out we could see upside action for the last half of July with targets based on the FIB Extension tool.

 

Often I talk about trend lines and triangles, but the short term chart (the fist chart below) is hinged on a horizontal level. The daily candles are not green thus crucial to know your personal “line in the sand” so you can exit before a bear trend begins. Chances are that line in the sand is the lower yellow line on the chart seen below. Wicks are important too, but when that many candle bodies form a straight line then that horizontal level becomes the key pivot on the chart. That is what I see happening thus the level of about $665 is the bearish pivot zone.

 

Bitcoin
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Bitcoin
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July 4th, 2016

 

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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Click Chart to Enlarge

 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.

 

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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.

 

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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.

 

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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.

 

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June 1 2016

 

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