Bitcoin Forum

Hi CryptoTraders!

decided to share my views on ALT coins price action. I look at price action only (most cases anyway), because only price pays :)
DISCLAIMER: this is not investment advice by any means! This is just my thoughts and simulation of possible scenarios.

LITECOIN (LTC/EUR)

See the picture:
https://tweezers.tech/cryptota/LTCEUR.png

Very bullish price action. LTCEUR has some good moves to make quick profits :)
1. Uptrend is clear and price is moving upward in a clear price channel bouncing up and down.
2. Strong uptrend trendline provides good support.
3. recently LTC/EUR formed very scary head and shoulders bearish formation, but it failed and now is history. I see that by touching 50 EUR mark the upward move stalled and correction unfolded. Key price support levels held and now it's preping for another upward move (or not :).

Still I see 2 scenarios: Bullish - more likely and bearish - less likely. Sideways action doesn't happen with cryptos so often :D

4. Bullish. Price action just made higher low and now moving towards resistance to make higher high. If that happens I would wait for retrace (unless it is explosive move upwards due to news or etc.) and only when go LONG. Stop loss I would give more room to wiggle and set it at about 39 EUR. I think if it unfolds as I expect this setup has very good risk/reward ratio. It could go 50EUR again after this move.

5. For going SHORT I would like to see inverse of bull move. Price has to penetrate support at 32.5 and has potential to drop to 30 and below.


Thanks for reading. Give your feedback what you think? if you like it ask for your favorit COIN price action analysis and simulation.

1st one to comment.
So i want you to analyse Golem.

Sorry I don't have reliable chart for GOLEM, but from what i see it had bottomed out at 0.17 EUR and now is showing bullish higher low and approaching to make higher high.
I would buy it after it breaks 0.2819EUR with a pretty narrow stop loss. If it breaks 0.29 resistance it can easily go 0.4 EUR.

GNTBTC chart is more neutral. Price is consolidating at the bottom and could move lower as well.

You see it depends on pair. If crypto/fiat it is more predictable due to USD/EUR are much more stable currency then BTC :) but if your goal is accumulate BTC not fiat you shall look at valid GNTBTC pair and I don't see it as very bullish.

Hi,

Can you take a look at waves & XEL please?

Waves/BTC looks very interesting. It is forming bulish inversed head and shoulders pattern, but for it to unfold price should move down and only when break "neckline".

Regardless price is at critical resistance point at 0.00144. If it breaks resistance you can go long 0.0015 or so and put stop loss @ about 0.00122. This should give nice risk reward ration for this LONG trade.

I think waves will be hard to break resistance because 50 day moving average price is at the same resistance level, but where is a setup be exploited if you can wait until right signal. Don't enter LONG position too early.

https://www.tradingview.com/x/ID7DUFTm/

What's about LBRY Credits and NEO?

Hey would like to know about ubiq & bitshares in a long term perspective

Stellar Lumens....interesting chart.

Thanks, interesting info

how about

IOTA/ETH

cheers

Hey,

Nice to see more advanced traders helping newbies.

When you follow these ratios, LTC/€ and other coins/currencies, do you see the value following exact mathematical value LTC/€ ratio or do you see any speculation to either way ?

i'm not an expert by any means, but to me it looks like ratio value is pretty close to mathematical ratio and rarely has larger speculation even when there are bigger moves (not just LTC/€, but in most of them).


thanks & cheers

I'm waiting :D

Golem and Neo would be great picks. I'd be also interested to see an analysis of Monero and/or Ethereum.