stewdamus

stewdamus Updated 

Those that follow me know that overall I'm long on Litecoin. However, my charts are telling me to sell here. Reasons: - We are at the top of our bull channel - RSI indicates we are highly overbought - Top of Bollinger - LTCBTC chart shows overhead resistance of 50MA on the daily - Everything follows our lead dog Bitcoin, which has nearly reached a long term...

stewdamus Updated 

I want to show you something. I'm not saying this will happen but... Take a look at this chart. It is beautiful. And according to what it is telling me, we have two (possibly three) more days MAX (but probably less) of consolidation for OmiseGo. Once complete, we would break out and above our shorter downward sloping ORANGE trendline. Of course, the possibility...

stewdamus Updated 

NeoBTC has broken out of it's triangle. Looking extremely bullish on the daily. %30+ profit potential here. Target .014. Good luck traders. Be careful. I'd put in your stops at anything below .0085. Happy trading.

stewdamus Updated 

In my last post, I posed the idea that we were forming a new larger triangle. I expected that we'd bounce around a bit between our $50 support level and the top of this new triangle before building up enough energy to break through our previous all time high. This we did! And to my surprise this price action occurred even sooner than anticipated! We are now well...

stewdamus Updated 

It looks as though Litecoin may be forming a new triangle. I have a suspicion we will begin to coil yet again in this larger triangle before finally punching through our ATH with another long green candle much like the one we saw yesterday. This next coil process, if it proves to be true, could take up to a month to form before we see our next big punch through....

stewdamus Updated 

High risk trade idea here. In my last post, we entered at .006. Target was .001 (23.60% Fib). We reached that target and closed. But because we broke the ascending triangle, a breakout even higher than our target occurred. We closed several daily candles above .001 and are now sitting on that support. If we bounce here, we'll go to .0019 and almost double our...

stewdamus Updated 

We've officially broken out of our last ascending triangle. I see no more coiling ahead for a while. It's onward, upward to our $75+ target. Good luck and happy trading all!

stewdamus Updated 

Let's play a game. Count the ascending triangles. Do you see them? There are 3. The first two are history. We obviously broke out. We are working on the the third and final. If we break above and close higher than this last triangle, we'll go to $4800. The second ramification of this potential breakout would be the formation of a new BULL channel. I've outlined...

stewdamus Updated 

Litecoin failed to hold our lines (see last post on Litecoin). We have one more critical support at $42. We break that and I am out and bearish on Litecoin again. Good luck Litecoin longs!

stewdamus Updated 

Looks like Bitcoin has decided to consolidate. Here are the two levels I am hoping we drop down to. The bottom two ($3410 and $3263) represent an excellent buying opportunity if we can get there.

stewdamus Updated 

This analysis is simple as always. Either LTC holds above the lines (purple circles) and remains strongly bullish, OR it doesn't. If LTC breaks below the bullish trendlines, we remain long term bulls (as we are still in the bullish GREEN channel long term); however, we will become short term bears. If we break down, we will go to: STOP 1: $46.01 STOP 2:...

stewdamus Updated 

Wow! Wow! Wow! These Bitcoin bulls are furious and charging through everything. There is a ton of strength behind this move! Really the only major resistance we have to break is our TOP of June 12th. After that? $4000+ We are seeing slight consolidation here as we rest on our $2760 support. Now is the time to BUY, BUY, BUY. We are back in our bullish GREEN...

stewdamus Updated 

As expected, our trendline held. We bounced: Trendline continues to hold support. A good sign. Bullish pendant pattern forming. Also bullish. Here's what I expect from Bitcoin according to our charts: 1) Break $2980 before Aug 1 and then come back down and bounce off it and up after. 2) Bounce around in here for a few more days before breaking up and...

stewdamus Updated 

Well, here is the confirmation that I personally have been waiting for. Bitcoin is now back into my Bullish GREEN Channel. This is where I go long again. Not only have we entered back into the sweet, sweet pastures of GREENland but several additional HUGE indicators help to confirm that this move should last and land us in our next target area of...

stewdamus Updated 

Bitcoin is on a tear! These bulls don't want to rest. There will not be many more chances while we consolidate slightly here to hop on this train for a mad ride up to $4000 plus. However, if we do rest in the next couple days, look to buy at any price between now (currently $3446) down to $3146 and in the next 3-6 days. Consolidation won't last longer than this....

stewdamus Updated 

As stated in my last post, the bulls just do not want to rest. Bitcoin is still in the hype driven stage of the gartner hype cycle: www.google.com This makes is hard to get in a good price. While many are claiming Bitcoin has reached target on their charts, or that Bitcoin is due for consolidation (which is true), or that Bitcoin bears should have entered their...

stewdamus Updated 

It is definitely harder to predict price patterns on these brand new coins, but Ima give it a try. Here we see Fib from low to high. You'll also see some trendlines that have started to form and support levels I've drawn. So, let's make heads and tails of this. Fib. is self-explanatory. I've drawn it from around the low to around the high of this coin. First...

stewdamus

The move up happened as anticipated hours after my last post on Litecoin. We recently hit $50 resistance and ran out of steam. You could've sold there if you were watching or had your trade triggers placed. We have and are now consolidating a bit and will continue to follow BTC before pushing higher. Over the next day or two I expect more sideways movement and...