If LTC can hold above 137, a new impulsive trend may start.
In technical analysis, flexibility is required – so it may mean LTC underperformance may have to be tolerated.
That said, if LTC starts acting like BTC and ETH, then any future rally in BTC and ETH could be bigger than expected.

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The 4-hour chart in ETH shows similar wave structures.
If ETH holds above 500, 590 could be next.
A move to 590 would unwind the entire final decline that started in late March

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Price was rejected again at the zone of resistance from $8.2-8.3k, a break above this level remains critical to begin a real recovery and bullish trend on higher time frames.

Price Action Levels
Resistances - The next horizontal level of resistance we are keeping our eye on remains around $8.3k. This is a big level on the weekly and will be a very bullish sign if we manage to begin trading above this area. Above $8.3k we can start setting our sights on intermediate zones of resistance like $8.6k

Supports - The level of support directly below price at the moment is $7.8k.  Below $7.8k we are eyeing $7.5k for at least a bounce before moving back down to the previous trading range we were in last week.

Indicators
Moving Averages - Zooming into lower time frame moving averages, we see the 50 MA looks ready to cross above the 200 MA on the 4H, which would signal a golden cross, which is indicative of short term movement (50 periods) being stronger than the movement of the longer term past (200 periods). This signal is not necessarily a sign of an entry or exit, but rather a signal of confluence, support bullish movement.

Ichimoku Cloud - Price has managed to drop below the 4H cloud Tenkan line. At the moment this line will act as resistance, with the cloud support at $7.8k right below.

Oscillators - The 4H RSI has respected the trend line drawn in the chart for over a week now and a break below this trend line could be a sign of a short term dip.

Conclusion

Price is ranging between the important zone of $8.3k resistance with the support zone at $7.8k. A very solid break above or below this range will be telling of what we can expect in the future in terms of price.

Above $8.3k, longs and bulls will gain confidence and likely send price up to test higher time frame resistance at $9k, whereas a break below $7.8k will put the idea of a recovery out of a bull market back a few steps.

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After the massive move up throughout the weekend we are finally seeing price pullback to support and reset its lower time frame oscillators.

Price Action Levels
Resistances - Price wicked above our important zone around $8.3k but then was sent back down below towards support. A close significantly above this level is our first target for a continued move up higher.  Above the $8.3k zone of resistance there is an intermediate zone of resistance around $8.6k

Supports - Price is now heading back towards $7.8k where we have a nice confluence of support from price action and a few indicators.
A break below $7.8k would send price down towards the previous resistance around $7.5k.

Indicators
Moving Averages (same situation as yesterday) - The daily moving averages loom above price at the moment starting around $8.5k. A breach and hold above these would be a great sign of strength.

Ichimoku Cloud - The 4H cloud is below price at the moment (bullish) and if need will act as support around $7.8k

Oscillators - The 4H RSI is showing a small hidden bearish divergence, which is a signal of a continuation in the current bullish move. If price holds above $7.8k RSI will likely catch up to price and send it further upwards

Conclusion
It is a tricky spot today with the higher time frame oscillators nearing resistance and overbought areas, whilst the lower time frame oscillators signal bullish divergences and reach lower oversold areas. In the short term we expect $7.8k and the lower time frame oscillators to provide price with a bounce back towards the resistance block around $8.3k

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Price continues to climb as it approaches a strong set of resistances at $8.3k. Still without any real pullback from the strong move earlier in the week, it would not be much of a surprise to see price fall back into support today.


Price Action Levels
Resistances - Price is up against an important zone of resistance at the moment that provided support on the weekly several times and now will act as resistance on the way up. This also lines up with the .618 fib level at $8.2-8.3k.

A break and hold above with multiple daily candles, especially the weekly, would be VERY bullish.  Above that mark we would set our sights on $8.6k.

Supports - If price were to fall from here we can expect $7.8k to provide a nice bounce and zone of support. If $7.8k doesn't hold we will look for $7.5k to give us a bit of support.

Indicators
Moving Averages - The daily moving averages loom above price at the moment starting around $8.5k. A breach and hold above these would be a great sign of strength.

Ichimoku Cloud - Looking at the daily cloud. There is a strong case for a move up towards $9k where the kijun is. That said, price has been unable to break above the kijun this entire downtrend, so if we do manage to break above it, that would be a very strong bullish signal. If we break into the cloud we would then set our targets to the opposite, flat, edge of the cloud based on ichimoku analysis

Oscillators - Looking at the daily oscillators, we see them approaching very high, "overbought" zones, relative to the action throughout the downtrend. Holding up at these levels would again be a sign of bullishness and reversal in trends.

The 4H RSI also is showing a bearish divergence, hinting at a potential pullback in the near term.

Conclusion

Looking at higher time frame indicators we see that price is due for a pullback IF price is going to continue trending downwards.

These next few days will be telling if that strong move earlier in the week was enough to give price the strength to begin reversing the trend.

The first step would be closing the weekly candle today above $8.3k. After that a break and hold above $9k would be very compelling for the start of a new bull trend.

There is a good amount of resistance and bearish signals at the moment though.

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Coin: POE
Exchange: Binance

POE has completed a Wyckoff cycle and is showing signs of completing the accumulation phase.

Targets are take profit points, and consider holding a share for the market recovery and higher gains.
- Looking to break out of ascending triangle.
- Please remember to move stops up to protect gains as you feel comfortable.

Entry Advice:
Entry under 425 sats
Stop Loss suggested at 335 sats, below triangle
Sell Order 1: 600 sats, an 43% gain
Sell Order 2: 720 sats, a 70% gain
Sell Order 3 900 sats, a 113% gain



Twitter and Telegram Handle: @BoomerCapital
Website: boomerangcapital.org

Game on?
MARKET ANALYSIS - BTC    ETH    LTC    XMR
 
Today's rally offers a mix of several central themes that we've written about in previous reports.

Buying out of Russia highlights that Crypto as an asset class is so important that it both shapes and is shaped by the geopolitical landscape. The fact that big foreign buyers seemed to have picked crypto over metals speaks volumes. Today’s rally in Bitcoin is propelling a bounce off the 50-week moving average, and weekly stochastics are turning. If today’s rally holds, it could mean a long-term rally has begun.

Basic Elliot Wave work on the BTC weekly chart shows new highs are possible. In addition, to overseas buying, the power of hedge fund in the crypto market should be considered. Recently, there were outflows from crypto hedge funds. All that money that flowed out will no doubt rush back in, fueling more buying. Soros and all the rest are no doubt future buyers.

Next, the ETH rally and even EOS (not shown) was a leading indicator of the BTC rally. Earlier, we had discussed that ETH needed to lead any advance, and it did not disappoint. If ETH can climb back above its 50-week moving average at 463, it could be “Game On” across the crypto complex

It would also be helpful if LTC could climb back above a big Gann point at 12

and Monero (XMR) could stay above its 21-day moving average at 181. Generally speaking, a move above the 21-day moving average can be an important benchmark in establishing daily momentum

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Price looks to be losing strength on this recent bounce as it is rejected at $7k.

Price Action Levels
Resistances - Moving the fib set to encompass the lower time frame move, we see that price was rejected by the .786 fib at $7k, we see that this will be an important level to break above before going higher. Above $7k we see an intermediate resistance that gave price some flack on the way up at $7.2k. Most importantly we need to see a break above $7.5k to confirm a higher high and temporary uptrend.

Supports (same situation as yesterday)
There is a chunky zone of support at $6.6k, of which held price up for quite some time. As it continues to get tested it will lose strength as buyers at that level begin to exhaust. A break below $6.6k will likely send price down to a potential double bottom at $6k.

Indicators
Moving Averages - The weekly candle remains above the important 50 MA for the time being. Reminder, the weekly candle closes at 8 p.m. EST on Sundays.

Ichimoku Cloud - Price was unable to hold above the $7k level where the kijun on the 4H resides. A break above this level, which coincides with a fib and previous resistance, will be a crucial step to recovery.

Oscillators - On the 1D looking at the k-line on the stoch RSI we see that it is headed towards a trending resistance line it has followed over the past month. We need to see a break and hold in the overbought zone to see a significant rally on the daily.

Conclusion

Price is coiling inside of a consolidation pattern at the moment, after the larger move down. High energy moves (volatile) are usually followed by low energy moves (stable/sideways) and vice versa. The main levels we are watching remain the $6.6-6.4k orderblock that has floated price for the past week or so as support, and the $7.5k zone of resistance, which, if broken above, would signal a higher high and the start to a uphill climb into a potential bull trend

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VTC Buy Alert

We have a very strong support between 0.00027000 - 0.00026000
wait for the retraction and buy in 3 parts
1 part 25% 0.00029000 - 0.00028000
2 part 25% 0.00027000 - 0.00026000
in case the support is breakout
3 part 50% below  0.00025000 wait for trend reversal

Twitter & Telegram Handle: @BoomerCapital
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Thanks Wiser. Will look into it. Appreciate your reply

Looking at ETHBTC, we see the cross rate has returned to a previous peak from November of 2017. It also seems noteworthy that the current level of ETHBTC acted as a key pivot zone back in the spring of 2017.

In one instance this level proved to be a top. In another instance, a breakout above this point ignited big ETH outperformance vs. BTC.

Also of note, technically: ETHBTC is sitting just below a big Gann angle.

Why does this chart matter? Two reasons:
1. First, ETH weakness seemed to be the early warning that the entire crypto complex was going to decline. So, if crypto is going to turn around, ETH should (and better) start outperforming.

2. Second, the talk of limiting ETH supply (link to discussion here) should create more than a one-day bounce. Given the head and shoulders top in ETHBTC, it better…or ETH could be in trouble again. If something bullish appears on the tape, and it doesn’t create a meaningful rally, the lack of reaction to the catalyst could turn out to be a very bearish signal. 

Bottom Line: Bottom Line: With BTC mired in a range, a glance of the future may be in looking at relationships between the big cryptos. With the avalanche of tax related selling coming to an end, a bullish catalyst needs to appear. ETH outperformance vs. BTC could be such a catalyst. That said, in absence of this or some other bullish catalyst, fear could return.

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Price creating a set of higher lows with lower highs above, making this a consolidation zone for the time being. Whether we break up or down outside of this zone is yet to be determined.

Price Action Levels
Resistances - There is a small zone of intermediate resistance at $6.9k. Above that we see the strong level of resistance created by a fib level and the previous price action at $7.2k.

Supports - There is a chunky zone of support at $6.6k, of which held price up for quite some time. As it continues to get tested it will lose strength as buyers at that level begin to exhaust.
A break below $6.6k will likely send price down to a potential double bottom at $6k.

Indicators
Moving Averages - The weekly chart continues to hold above the 50 MA. The daily and below time frames remain bearish in terms of MA indicators.

Ichimoku Cloud - The 4H tenkan and kijun indicators from the cloud are directly above head around $6.9k & $7k. These will likely act as resistance on the way up, coupled with the confluence of the $6.9k price action level of resistance.

Oscillators - On the 1D we have an interesting situation; we see a bullish divergence at the moment, which is usually very telling during high time frames. But, when looking left, we see a very similar setup to the one we have now, where price failed to make a W-bottom, during a period of bullish divergence and later fell rapidly. As stated in the past, we must take bearish divergences in bull trends with less conviction, and in this case, bullish divergences in bear trends with less conviction as well. Still, it is something to keep an eye on and an argument for a reversal at this level upwards.

Conclusion - Price is in an interesting spot. We see a large bullish divergence on the ever important 1D chart, but also have seen that signal fail recently in the past. We are posting higher lows, but also have accompanying lower highs, which pegs this immediate action as neither bullish or bearish, but rather consolidation. A wise trend follower would lean towards the way of the trend and expect this consolidation in price to lead to continuation of the bearish trend. A break above $7.5k would be a higher high and give the bulls the upper hand.

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Bearish divergence and heavy resistance caught up to price, sending it back down to support.

Resistances - In the event of a reversal there is a small zone of intermediate resistance at $6.9k.
Above that we see the strong level of resistance created by a fib level and the previous price action at $7.2k

Supports - At the moment, price is headed down towards a zone of support at $6.6k, of which held price up for quite some time. As it continues to get tested it will lose strength as buyers at that level begin to exhaust. A break below $6.6k will likely send price down to a potential double bottom at $6k.

Indicators - Moving Averages
The weekly chart held above the 50 MA yesterday on the candle close. That price level is now around $6.9k.

Volume Analysis - We saw price inching up over the past 2 days on low, and decreasing, volume. This was a sign that the price move was not sustainable and buyers were diminishing as price moved upwards

Oscillators - The 1H RSI bearish divergence we observed yesterday continued to play out and we eventually saw a strong drop to follow. Again, these are great predictive tools to give you an edge on where you may believe price is heading before it happens.

Conclusion - $6.6k is a zone that has held strong in the past, but as the bounces dwindle in strength at this zone we can assume the buyers at that level have weakened. As we head to this zone we must keep that in mind and prepare for a drop below it to a stronger zone at $6k which will likely provide at least a bounce.


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Price is currently being rejected by resistance and heading back down to important levels of support.

Resistances - Price is getting knocked back by a very intermediate zone of resistance at $7.1k, at the moment. This level is created by the interaction of price as resistance in the past. Above that is a stronger zone of resistance that lines up with a fib level at $7.2k, which we also saw acted as resistance previously.

Supports - Below current prices, we see a level of support at $6.9k, created by previous resistance, which has now turned to support.
In the event we drop below $6.9k the next zone of support left to hold up price is at $6.6k.
A break below $6.6k will likely send price down to a potential double bottom at $6k.

Indicators
Moving Averages - The weekly chart is still holding above the 50 MA. The weekly candle closes today and it will be a good sign for the bulls if price can remain above the 50 MA.

Ichimoku Cloud - Price is currently sitting on top of the 4H kijun indicator on the cloud, which until broken below will act as support. Overall, the higher time frame clouds remain bearish, indicating the trend is still likely to persist downwards.

Oscillators - The 1H RSI is currently exhibiting a bearish divergence, which in a bear trend is a strong argument for a potential reversal back downwards/end of this bounce.

Conclusion
Bitcoin looks to be losing strength during this current move upwards as we see price moving away rapidly from intermediate levels of resistance and a bearish divergence forming on the 1H chart.

$6.6k will be an important level to hold in order to create a reversal from this point upwards. In the even it does not hold, we will likely see a fall down to the previous February low of $6k. Below that level, price could drop rapidly to great levels of long term support around $5k. These levels in the long term will be looked upon as great buying opportunities.

If price does fall to $5k rapidly, sprinkling a portion of sidelined fiat back into Bitcoin sets you up for a great long term risk:reward play. The best way to play such an event is to scale in your buys in order to avoid missing the move, as well as creating the best average entry. This means spreading your buys out across multiple price levels, instead of making one large purchase at a single price. ~$5k has the type of support that could cause a true reversal in trend or act as a bottom, so buying there could result in maximum profits. Anything below that will be a gift, as we truly believe Bitcoin and crypto will experience massive returns, again, in 2018.

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The $6.6k zone of support held and sent price upwards to test resistance in the low $7000s.

Resistances - Price is making an attempt at breaking the weaker, intermediate resistance at $7k.

Above this level we see a stronger level created by previous price action and a fib level at $7.2k, this level will be crucial to break and hold above.

Supports - Below current prices we have a zone of support at $6.6k that held over the week.

Below $6.6k the level that held during the last capitulation event at $6k should provide a bounce/zone of support.

Indicators
Moving Averages - The weekly chart is still holding above the 50 MA. The weekly candle closes tomorrow (Sunday) and it will be a good sign for the bulls if price can remain above the 50 MA.

Ichimoku Cloud - The 4H tenkan is now below price, meaning it will act as support on the way down. Above price, though, we see the 4H kijun around $7.2k, which is confluent with our price action levels of resistance, making this an even more important level to break above.

Oscillators - A look at the larger time frame RSI on the 1D shows us a very similar situation to the last selling climax that got us down to $6k. The 1D showed a bullish divergence (Price making lower lows, RSI making higher lows) that never ended up playing out. Past performance does not always indicate future results so we will watch this bull div and see if it can send price higher. Zooming on to the 4H stoch RSI we see that price is already into overbought territory, which is a bit concerning and will likely cause price to rest at these levels or fall lower.

Conclusion - Bitcoin has found some strength off of the $6.6k levels of support that we outlined throughout the week. Although this bounce has been strong, there is no confirmation of a real reversal on large time frames just yet. For those reasons we need to be cautious and patient. A break above $7.5k could signal the start of a real reversal. Until then we will remain patient and target zones of very strong support for longer term buys in preparation for the next bull run.

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BTCIn BTC, the important Gann level seems to be 6500. Even if there is a final flush below that, it would be encouraging if that level held on a daily closing basis. Looking at an intraday chart of BTC (4 hours, top chart), it looks like a five-wave structure is nearly complete that would bring this last corrective wave to a close. Bollinger Bands seem to indicate good support near the 6500 level.

BTC weekly charts highlight the 50-week moving average at 6700 as another layer of support (second chart). If BTC fails and drops below 6500, it could be related to last minute selling for people to raise cash to pay for 2017 crypto tax bills. If you have the guts, any such wash out could be the rock bottom buying opportunity. Looking at levels above the market, a break out to 7600 would be optimal from a Gann perspective.

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