phantom224

Yesterday I mentioned that I expected a move either on Thursday or Friday, and we got it on Thursday. Unfortunately, it was to the downside but lets take a look at Bitcoin to begin with. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: Bitcoin fell more than 4% yesterday and on Bitstamp we have set a new yearly low at 5774. That means that we took out the low from 5 days ago. That could be significant in the short term. That could mean that we are head up again in the near term and we are currently up for Friday, about 1%. But if we were to go negative again, we will likely set a new low later today. The current price is 5893. So, we are still above that important level of 5800 which is the breakeven for the miners.

Now, lets look at Ethereum:

Comment: Ethereum did also take out the low from 5 days ago and Ethereum has formed a bullish pennant in the short term. That could mean that we could get a nice move to the upside if we were to close above 420. Otherwise, it does look likely that Ethereum could retest the lows from back in March in the intermediate time frame, we are really close to 390 and technically, it would look weird it that were not to happen. We could also take out the low at 365, but we will see, we could get a short term rally pretty soon.

If we move over to Litecoin, it fell from 80 to 73 yesterday and it has also taken out the low from 5 days ago. The new low is 72.6. We also have a bullish pennant for Litecoin, so if we will get a close above 75, that would probably give us a rally to the 95 area. On the other hand, a daily close on Friday below 73, that would probably take us down to 70 or below.

Finally, lets look at EOS. Here is the daily:

Comment: EOS did fall as well, but we havent taken out the low from 5 days ago, yet. However, we are really close and as I mentioned earlier, on the Wavetrend indicator, EOS has not yet gone under -60 so I would not be surprised if that were to happen and then we will likely head down to the 6 dollar mark. A daily close above 8 dollars would be short term bullish.

Happy trading!

I had a look at Dash and I noticed something which you can see from many of the altcoins. We are about to complete a bubble so to speak. Lets have a look here at the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: We can see that Dash had a major breakout in the beginning of November and then went all the way up to 1630. Now, at this time Dash has gone down to 390 and there is actually some old support from August of last year, but I dont think this is enough. I think that this bubble will complete here and that means that we will likely go back to 280 or a little bit lower.

Let me show you how this could look like with a look at another altcoin, namely, Digibyte:

Comment: In this chart we can see that the bubble of move to the upside completed. It started in April of 2017 at around 80 satoshi and then went all the way up to 2700 and then we got a very long pullback that finally completed the bubble. I think the same thing could happen to Dash and many other altcoins.

Usually when this pattern occurs the price goes down a little bit more than necessary to sort of set a foundation, so I would think that Dash could go down to 260 here.

You can accumulate Dash right now if you want, but you could get an even better opportunitiy in a short while.

Happy trading!