MOST ALT COINS ARE IN ACCUMULATION MODE

Safe for IOTA bears ranging with an accumulation, most other alt coins are low in volatility.

LTC leads the pack and for some times now, price action has been so uneventful as the horizontal accumulation and pump continues.

Yesterday, we saw Lumens prices testing $0.70 but even though it looked promising, Lumens price action slid back below the middle BB.

Let’s have a look at other alt coin charts

I NEED A SIGN TO INITIATE NEM POSITIONS

I NEED A SIGN TO INITIATE NEM POSITIONS
XEMUSD 4HR Chart for January 16, 2018

Indeed, the bounce from around the 78.6% Fibonacci extension level rounded up a nice double-bottoms which we were anticipating.

Now, as per our trade plan, we cannot be sure of NEM bullish pressure if price fails to close above $1.5. You see, if they do then it will entail a break out and as usual, trading with the trend is the only thing that come our mind.

If there is no higher highs-already we have that bear candlestick, then chances of a range bound market within this tight $0.36 limit is possible.

Otherwise, I’m not recommending longs or shorts for swing traders. Man, I need a sign!!

LUMENS TEST $0.70 BEFORE SLIPPING BACK TOWARDS MIDDLE BB

LUMENS TEST $0.70 BEFORE SLIPPING BACK TOWARDS MIDDLE BB
XLMUSD 4HR Chart for January 16, 2018

Almost is the word. XLM buyers almost closed above $0.70…well, they did not and they are off the mark now.

In fact judging from price action, the dip below the middle BB is spectacular-and quite unbelievable for those who didn’t wait for a confirmation above our bull triggers.

All in all, we are right back where we were: Stuck in an uneventful consolidation with supports at $0.55.

IOTA ACCUMULATION CONTINUES

IOTA ACCUMULATION CONTINUES
IOTUSD 4HR Chart for January 16, 2018

With IOTA you can either be making money or bleeding big time depending on your trading style.

The problem with trading range bound markets is that break outs can happen at any time and rather than sticking your neck to the chop board, a little bit of patience won’t do us no harm.

As it is, there is nothing we can do with ranging markets and the only anti-dote is time.

If we leave this accumulation to slow turn and break on its own, it can turn out to be lucrative. Yes, a lucrative break out it’s going to be.

DASH MIGHT CLOSE BELOW $950

DASH MIGHT CLOSE BELOW $950
DASHUSD 4HR Chart for January 16, 2018

After yesterday reaction at the main support trend line of the trend, I thought maybe DASH bulls might continue marching to glory but look what is happening.

Bears are thirsty and they want to take a bite off main support trend line and $950.

In line with yesterday’s forecast, my DASH analysis recommends restrain until when we have a close below or above main support or resistance.

I don’t know if we on the same page on this.  Let me know your thoughts.

LTC HORIZONTAL MARCH CONTINUES

LTC HORIZONTAL MARCH CONTINUES
LTCUSD 4HR Chart for January 16, 2018

As it was before. It’s the same old boring low range consolidation for LTC. Until after there is a spark, LTC trader should keep off this trade. The accumulation pump won’t spare anyone.

All charts courtesy of Trading View

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As NEM tests $1.5, other high cap alt coins continue to consolidate. IOTA leads the pack while DASH and LTC follow closely but all of them wide lower and upper limits.

As for Lumens, buyers can only take charge the moment they satisfactorily close above $0.7.

Let’s have a look at other alt coin charts

NEM TESTS $1.5 AND TURN LOWER

NEM TESTS $1.5 AND TURN LOWER
XEMUSD 4HR Chart for January 15, 2018

The swings continue with NEM. Last week’s was a fruitful week for sellers and as prices continue to consolidate at around key support levels, we shall be watching two levels defined before last week.

That is how price action reacts at $1.13 and $1.33. Depending on how prices react, $1.13 will be our main support line.

On the contrary, if there is a bounce, then double bottoms will form especially if prices close above the middle BB as it winds up towards $1.33.

There is nothing concrete or definitive here, just potentials.

Nevertheless, our buy triggers happen when price clear $1.5 and sellers are in charge if NEM drop past $1.13. So, let’s wait and see what happens today.

AS LUMENS REVERSE FROM 61.8%, LONG TRIGGERS SHOULD BE ABOVE $0.7

AS LUMENS REVERSE FROM 61.8%, LONG TRIGGERS SHOULD BE ABOVE $0.7
XLMUSD 4HR Chart for January 15, 2018

Even though there was a little bit of XLM depreciation over the weekend, we just have to give it up to Fibonacci retracements. From the tool, we can easily notice the significance of its key levels.

Previously, we saw this clean reversal from 78.6%, XLM inched higher, got bumped at 38.2% and now, that spring from 61.8% is just classic. Regardless of the potentials, we shall not rush.

Let’s wait for the confirmation of that double bar reversal pattern.

Overly, the trend is up and for risk-averse traders, they should wait for a close above $0.7 or the 38.2% Fibonacci retracement level before increasing their net longs.

IOTA ACCUMULATION CONTINUES

IOTA ACCUMULATION CONTINUES
IOTUSD 4HR Chart for January 15, 2018

Here’s the thing with IOTA, it’s still consolidating and the longer the squeeze-visible in higher time frames, the stronger the break out.

In fact, this looks like a copy paste version of LTCBTC. Because of this, I’m not recommending shorts or longs.

The best approach is not to chase prices, first we want to see where the drift will take us and any break out, irrespective of the direction, is where we trade with.

DASH PRICES MOVING INSIDE A WEDGE

DASH PRICES MOVING INSIDE A WEDGE
DASHUSD 4HR Chart for January 15, 2018

Like IOTA and other bunch of pairs, DASH is in consolidation mode but the only different is the margin of trade. Judging from the upper and lower limits, the height of this consolidation is roughly $330 and $1250 stands out.

Historically, it’s now wise to chase prices lest you get burnt so I’m going to draw two trend lines connecting recent highs and low and the result is that wedge you are seeing.

Now, it’s going to be a race between buyers and sellers. But I’m seeing strong support given the distance between the minor support trend line and main support line at $940 vis a vis the resistance trend line and the main resistance line at $1250.

LTC SUPPORT LIES AT $210

LTC SUPPORT LIES AT $210
LTCUSD 4HR Chart for January 15, 2018

Over a week or so, LTC has been in consolidation mode but those higher highs are visible.

Currently, caution applies and my muzzle is not directed at buyers or sellers. It depends on momentum.

It going to be simple and with such a wide trading range-$60+, I will sit and wait for sellers or buyers to take charge and pull my triggers.

All charts courtesy of Trading View

Are these bear flashes important for NEM buyers? Maybe, maybe not. In fact the deeper, the better and for most coins, we now need simple confirmations before we initiate longs.

A point in case is LTC, DASH and Monero. These are BTC alternatives which have been on the receiving end for pretty much the better part of December 2017.

For DASH, buyers were ramping up their long below $1000 and if it continues this way, prices could be on their way snapping back trend.

Let’s have a look at other alt coin charts

CLOSE ABOVE $1.62 IS SUPPORTIVE OF NEM

NEM close above $1.62
XEMUSD 4HR Chart for January 9, 2018

It’s a pretty nice dip and bounce from $1.35 and what do we do from now? Well, as we can see, the long lower wick hints of intra-day buy pressure and it would be a total confirmation if NEM  inch higher in the coming sessions.

I would like to see a double bar reversal pattern after this candlestick pushing prices above the 38.2% Fibonacci retracement level.

Until that happens, I don’t recommend long entries.

DASH FIND SUPPORT BELOW $1000

DASH reverse from $950
DASHUSD 4HR Chart for January 9, 2018

Before this bear pressure, all we needed was a bullish confirmation above $1300 but that didn’t happen. Instead, sellers continue to push prices lower leading to that close below the minor support trend line which in turn opened the gates for sellers.

Our indispensable Fibonacci retracement tool anchoring on last week’s high low shows that DASH reacted at the 78.6% level.

From similar patterns in the past, even if DASH continues to pump prices, the best it can do is test last week’s highs which is also the main short term resistance line at around $1300.

That is where buyers should be aiming in the coming sessions assuming there is no collapse below $950. Therefore, I recommend long entries the moment there is a bull candlestick closing above $1100.

IOTA BACK TO OSCILLATION MODE

IOTA double bar reversal pattern
IOTUSD 4HR Chart for January 9, 2018

After January 6 close above $4.2 turned out to be a fake break out, yesterday’s IOTA lower lows temporarily invalidates our short term bull projection.

As prices continue to oscillate within a $1 range, any close below or above any of these bounding limits might be a break out trade but only if the candlestick is strong enough.

Because last week’s range was low, I still hold on to a bullish narrative especially if buyers push IOTA prices above $4.2 despite the recent bear candlestick testing $3.

MONERO DOUBLE BAR REVERSAL PATTERN AT $350

Monero inch towards $500
XMRUSD 4HR Chart for January 9, 2018

As per our trade recommendation on January 8, our sell limits were at $350.

From the charts and especially if you paste a Fibonacci retracement tool between last week’s Monero high low, you find that this is the 50% retracement level.

Now, look at what is happening. A clear double bar reversal pattern is in progress and assuming buyers triumph and close above $400 in the coming sessions then $500 won’t be a trudge.

WITH A RETEST ON COURSE LTC PRICES COULD END UP AT $300

LTC buys from $255
LTCUSD 4HR Chart for January 9, 2018

After dipping to as low as $231, LTC found support. Now, as per my recommendation, any test of $255 is a retest and that is what we are seeing now.

The deal here is simple.

If this double bar reversal pattern printing out at around the 61.8% and 50% Fibonacci retracement level acts as a spring board for buyers, I recommend longs the moment LTC prices close above $270.

All charts courtesy of Trading View

DASH/USD

DASH continues to be volatile against the US dollar, as we have slammed into the $1000 handle. Currently, we are in very thin markets, as we are between 2 major holidays. Because of this, I think we are more apt to continue the overall consolidation. That means we could very easily bounce towards the $1200 level. However, if we were to break down below the $900 level that would be cause for concern.

 

LTC/USD

Litecoin had a slightly negative session on Thursday, but we have enough support just below to keep me somewhat optimistic. I think we could drift towards the $275 level without much effort, as the $225 level underneath offer significant support. With low-volume, I would not expect much of the next couple of sessions, but certainly it looks as if we could settle into a nice tight range between $200 on the very bottom, and $300 and the very top.

Thanks for watching, I’ll be back next time.

DASH/USD

DASH continues to look very quiet during holiday trading, as the $1200 level has offered a bit of resistance. We are rolling over in the stochastic oscillator, so this suggests that we will eventually start looking towards lower levels, perhaps finding support closer to the $1000 level. I would be much more comfortable buying at that level than trying to go long here.

 

LTC/USD

Litecoin looks similar, and struggling as there is almost no volume. I think there is significant support near the $250 level though, so any type of bounce in that area should be thought of as potential value that you can take advantage of. If we break down below the $225 level, the market will probably test the $200 level, and then break down to the $150 level. I currently believe that the market is going to go looking towards the $325.

Thanks for watching, I’ll be back tomorrow.

DASH/USD

DASH continues to be very noisy during the trading session on Tuesday, as the $1200 level offers resistance. We are getting close to the overbought part of the stochastic oscillator on the 4 hour chart, so perhaps more sideways action is to be expected. I also recognize that the $1000 level underneath is massively supportive, so we may retest that area to find more buyers. If we break above $1200 though, that could be a very bullish sign.

 

LTC/USD

Litecoin continues to go sideways as well, essentially going nowhere. The volume is almost nonexistent in this market as we are in the middle of the holiday trading season, and right now it looks more likely that we will drift towards the $250 level than anything else. Breaking above $300 would be a very bullish sign though.

Thanks for watching, I’ll be back tomorrow.

DASH/USD

DASH drifted a bit lower over the holidays, dropping from the $1200 level. However, I suspect that there is a significant amount of support at the $1000 handle. What’s interesting for me is that we could be forming a bit of a descending triangle, or a descending channel, so I think we are going to have a bit of a fight on our hands at that $1000 level. Because of this, I am on the sidelines but if we break down significantly below the $1000 handle, I would be willing to start selling. Otherwise, that could be an excellent opportunity to buy on the cheap.

 

LTC/USD

Litecoin has been rather lackluster after its founder admitted to being completely out of the digital coin. We now have support at $250, but that has been broken a few times, only to turn things back around. The question is whether we can continue to build up momentum to the upside, or does the support finally fall apart? If we break down below $200, it could be lights out for Litecoin in the short term. Otherwise, these dips could offer short-term scalping opportunities.

Thanks for watching, I’ll be back tomorrow.

DASH/USD

DASH lost 30% in the early part of the session on Friday, breaking below the $1000 level again. There is a significant amount of support just below at the $900 level and again at the $800 level. If we sliced through those areas, the game is probably over. The $600 level will be targeted at that point, but clearly this is not the time to get involved in the market. I know many of you have made money buying the dips, but this is not adept this is a collapse. That’s not to say that we can’t stabilize, but don’t be the hero, let other traders support this market first. Stability of a couple of days is probably necessary.

 

LTC/USD

Litecoin has broken down as well, shedding 27% as I record this. The $200 level was almost certainly going to be targeted at this point, but I don’t see anything structural that is going to keep the market above that level. I suspect we are looking at a return to the $160 level. Again, let other traders try to pick this market up, because quite frankly you don’t want to be the hero. Catching a falling knife is much different than buying the dips.

Thanks for watching, be back next time.

DASH/USD

DASH continues to look bullish, although we have had a choppy session during the day on Thursday. We are currently forming an ascending triangle, which measures for another $150 gain. Because of this, I anticipate that the next target is $1650. We clearly have a lot of bullish momentum, so selling is something that I have no interest in doing. I suspect there is a “floor” at the $1200 handle.

 

LTC/USD

Litecoin has been a bit limp over the last couple of sessions, as we currently grind away above the $300 level. I believe that this is a buy on the dips situation, but I suspect that you have plenty of time to put money into the market, as Litecoin is essentially a retail coin, meaning that most retail traders will be putting a lot of money into the marketplace during the holidays.

Thanks for watching, see you next time

DASH/USD

DASH has gone parabolic during the trading session on Wednesday, slicing through the $1500 level at one point. It looks as if short-term pullbacks will offer buying opportunities though, so therefore I think being careful bullish is probably the best way to go in this market as it looks like a market that is ready to launch much higher.

 

LTC/USD

Litecoin had a very quiet session on Wednesday, but it looks as if we are continuing to try and form a bit of support just below, with $300 being a very important level overall. I believe that buying the dips continues to be the way going forward as Litecoin looks very bullish.

Thanks for watching, I’ll be back tomorrow.