HOTBTC: Weekly Flirting With TD Green Price Flip (Updated 09.10)

[dragonvslinux]

Source: Trading View, September 12th 2019

Updated look (20/10/19):

Source (screenshot of): Trading View, October 20th 2019

To elaborate on the Weekly* bullish view of HOT/BTC:

• Bullish divergence on the CMF (compared to bearish on the Daily time frame).
• RSI beginning to find support from breaching oversold conditions at 30.
• TD Sequential reached an aggressive 13 (as far as TV algo goes).
• Weekly candle is flirting with a green 1 when 9 sats or above.
• MACD yet to bull cross but coming closer together.

Bullish divergence aside, I'm liking the simplistic sequential weekly view at the moment:

• The last time a green 2 went above a green 1 was in January 2019, the price rose 20 sats to 46 ATH within 2 weeks.
• The price therefore could breach the falling channel resistance first time (on a green 3 going above a 2).
• Next week could active the first long trade on HOTBTC for 9 months, based on the sequential system.

Resistance levels modified for weekly view: 12-14, 21-23, 28-31 as well as 46 ATH.

*Correction

Own work: dragononcrypto

[dragonvslinux]

Going exactly as planned which is always nice to see, now a Green 2 is going above the Green 1 on a Weekly time frame, initiating the bullish trade.
Currently testing channel resistance while Weekly RSI attempts to leave bearish conditions (>40) to return to neutral territory (40-60).
Missed LINK? Try another speculative altcoin instead.

Source (screenshot of): Trading View, October 9th 2019

Own work: dragononcrypto

[lab rat hoax]

I respect your analysis and bought some hot and set stop loss. But I wonder, isn't there a possibility of a descending triangle formation in this graph? If there is, we may face a sharp fall, so i think this trade is a bit risky. I hope what I fear does not happen

[bustedsynx]

I wouldn't put too much emphasis on Tom Demark's sequential, not every nine count is considered a pivot. The best one technical analyst can do is use other classical TA to confirm the sequence. It looks to me a breakout from the channel is the best long trade entry.

[CjMapope]

Guess ill watch this thread, see where it goes
ive never been too big on TA, as i always felt crypto markets too unpredictable to assume
But yours seems pretty close, i might have to check out your altcoin thread too hehe

[bustedsynx]

Guess ill watch this thread, see where it goes
ive never been too big on TA, as i always felt crypto markets too unpredictable to assume
But yours seems pretty close, i might have to check out your altcoin thread too hehe

The crypto markets are indeed seemed unpredictable. But technical analysis is actually founded on the buying and selling behavior of people. In fact, the crypto markets is said to be the purest markets because there is no real demand yet for the coins, 98% speculation, unlike trading oil or foreign exchange.

[dragonvslinux]

Looking good so far, now up 20% with break even stop loss  I'm never usually this accurate with forecasts, please don't get used to it 
Note the last red arrow point to this week, this means I have no idea if the price will get rejected and fall back to support, or break upwards.
No profits taken as this is a macro trade on the Weekly chart, not a swing trade.

Source (screenshot of): Trading View, October 20th 2019

Break even stop loss @ 10 sats. Currently facing resistance.

[adroitful_one]

Looking good so far, now up 20% with break even stop loss  I'm never usually this accurate with forecasts, please don't get used to it 
Note the last red arrow point to this week, this means I have no idea if the price will get rejected and fall back to support, or break upwards.
No profits taken as this is a macro trade on the Weekly chart, not a swing trade.

Source (screenshot of): Trading View, October 20th 2019

Break even stop loss @ 10 sats. Currently facing resistance.

Good call on this one, congrats! Looking at the RSI and MACD from  your screenshot, it looks like the price will continue to go up until around 25 Satoshis or so. Possibly even up to 35 or 40. Again, like you I'm not always right, but there's a pretty good chance it will keep going up for a little while.