I have been buying up NEO lately (at the low and the dips as its goes up) but haven't published anything it pretty much follows the BTC trend as for the ALT coins lately. However I start to see that some ALT coins are starting to act independently when BTC is bullish. Having said that, he is my opinion with some condition based assumptions. 1) NEO is bullish based...
Nice trend, to have another win by buying soon and going long with BTC if you have missed out before or have sold at the top, for the next rally. Key question is when to sell? Then we need to look at the 1 hr chart and RSI, etc
LTC has a merging triangle with the 1hr chart. In addition it is like BTC showing bullish tendencies are both worth watching. It has a cradle forming and would be nice to go in around $63
I feel that we have enough higher highs and higher lows that we will see the next stage of a bull run but with little follow through. The max I would expect is $7500 before reverting to the next bear trend. If all goes to current trends, I feel we will hit bottom of this BTC downtrend (long term) around the end of October, maybe a bit later (Nov.) based on how...
According to the 3 hr candle, we observe a falling wedge, watch for the price to move above the upper trendline. Consider taking a long trade, and shy away from short trades. ETH strong support lines are $270, if this is broken then $262 would be the entry. The decision is obviously related to what BTC is doing at the time.
I think we will be retracing the trend as per May\June. This time round we probably go below 5800, but you can't make such convincing statements as we always should refer to the charts every few days, at most. October or November is when we might hit bottom (if ETF fails) and other BAKKA type of things don't come. I am not convinced the ETF will be successful this year.
No-one can really for-see how the bulls or bears mark there entrance or exits. With the assumption that the market is still bullish, the Grey area is where I see it settle for a while and then the bulls will make their move as it gets closer to the ETF announcement date and more positive news out there. ALT coins will just take a back seat and follow BTC tail....
My thoughts for BTC in the next day and the week. It will drop soon as the bulls volume is diminishing and the head and shoulders is forming, indicating a reversal. Then bounce as the EFT has the market bullish.
$7500 is a major resistance at this point and the bulls are persistent. RSI is not overbought below 80%, and this sideways trading has been going on for a while. However there is a squeeze happening with a momentum upwards and closer each time to the $7500. I would have thought this pattern would have not last this long and failed to dropped between $7000 to 7200....