BTC/USD Things are rather simple here. Bitcoin continues to trade between 2 points ($10,000-$12,000). If you're a day/swing trader; you may want to purchase as close to $10k as possible and sell once it gets close to $12k. If you're a HODLER, then there isn't much to do but hold (hodl). My Thoughts? Besides the ones outlined above; I am still bearish on Bitcoin in the short term. I am awaiting that massive move to the down side that will have this trading from $8k, to possibly $5k. That's a 50% downside from current levels. It's a lot! I know! But these are just my thoughts. Long live Satoshi, Long live Crypto! DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
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BTC/USD I think Bitcoin side-liners will have an opportunity to pick the coin up at a steep discount. The overall chart looks weak in my opinion. This is not to say I am bearish on Bitcoin long term; it is to say; I do believe we can witness more downside before the coin goes on to do great things. What am I expecting? Sitting at mid $14k (around time of publication); we may have one further back test of $15k before falling towards $12k. This is where things get rather interesting for the coin. $12k-$12.5K represents fairly solid support going back to early December/2017. If we can not hold that line; $9-10K is a very real possibility. DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
LTC/USD I want to be bullish on Litecoin; I really do. But the chart seems quite bearish right now. It appears as though the coin is forming a head & shoulder pattern on the 4 hour (since late December). I agree; the pattern isn't complete as of yet; but it sure looks like it's forming that right shoulder. Providing that the right shoulder is formed; you want to pay attention to the $200-$213 area. If $200 support doesn't hold; we may be looking at a retest of the $144 low. DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
TRX/BTC TRX has been on a tear for the past two weeks. In particular, the last two days. This coin shot up a rough 850% in the past two weeks; going from a low of .04-.38 in many places. The coin has since pulled back and now hovers around the .18-.20 cents mark (or ~1350 SATS). Where does it go from here? While I enjoy a good run just like all the other bulls. The best thing for this coin is a bit of consolidation. Preferably between the 1100-1350 SATS (.16-.20). If we can build a solid base around this area (several days-weeks); I am very confident that we will go on to reach .50 and $1 within the next month or so. The chart above demonstrates 3 areas of support in my observation. If the 1st fails, chances are we head down to the 2nd. If that fails, the 3rd, etc. For now; the best thing to do is hold or HODL! From my observations, that's how you succeed in the crypto space. DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.
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AuthorTina "ShortMeTina" Ley (pronounced Lee) holds a Bachelor of Arts in Forensic Psychology and a Master's of Science in Mental Health Counseling and has been a stock market participant for over 10 years. Currently a Full-Time Trader and Blogger of all things financial. Archives
March 2018
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