bitcoin
Notwithstanding that brief drop last night on kraken (What the hell was that? Did someone fat-finger an order????) it seems that the 4 hour chart is going to close above the 1st arc. If so, this will be both a buy signal on the the Gann chart, and also give us another “higher high”, suggesting that the trend has turned up.
Ethereum
Ethereum is challenging a medium-term fib spiral for the 2nd time in the past day. While we have not yet been given a buy signal from this tool (as this is being typed), it would seem that one may be forthcoming soon. Stay sharp.
Litecoin
As indicated in the weekend update, litecoin is approaching a likely turning point in the next week or so. This is shown above in the Gann chart, which also indicates the challenge of the long-term resisting trend line (pink). Watch for a possible breakout soon.
Dash
As indicated in the weekend update, Dash ran into serious resistance. In the weekend update I suggested closing longs, if not going short. Well, the tide has definitely turned since then. When/if we see a close below the 1st arc (highly likely) we will likely see a fall to perhaps the 3rd arc shown below. Wait for the close below the 1st arc before shorting though (imho).
Monero
With the exception of a brief penetration that failed, Monero has not been able to conquer a medium-term fib spiral. It is not clear whether or not (the short-term) trend is higher or lower from here. My play would be to take profits and wait to see a trend develop before opening another position. Your mileage may vary.
Remember: The author is a trader who is subject to all manner of error in judgement. Do your own research, and be prepared to take full responsibility for your own trades.
Published at Tue, 21 Mar 2017 06:34:45 +0000
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