NEM SLOWS DOWN WITH POTENTIAL SUPPORT AT $0.53

Most alt coins are correcting and even in the midst of all this bear pressure, NEM slow down reveals potential support at $0.53.

It might be temporary, who knows but similar traits can be seen in several other alt coins including IOTA, LTC and DASH.

Of course catching reversals at key supports can be dopamine triggering but I urge confirmation and patience.

Otherwise, if the dump continues, I see NEM testing $0.34 while LTC buyers might find refuge at $115 which is around the main support line and the origin of the recent rally.

Let’s have a look at other alt coin charts

NEM SLOWS DOWN AND FINDS SUPPORT AT $0.53

NEM SLOWS DOWN AND FINDS SUPPORT AT $0.53
XEMUSD 4HR Chart for January 18, 2018

The cool thing about Fibonacci retracement is that it is not choosy and applies to every tradable asset.

When we paste it on NEM daily time frame, we identify a couple of interesting formations. We shall not talk about bears because that is obvious but instead focus shall be on January 16 bearish engulfing candlestick and especially its lows.

Notice something? If not, then that level is square with the 78.6% Fibonacci level and despite lower lows, yesterday’s candlestick couldn’t test it.

It remains an harami and unless there is some drastic break below, today might end up slow with potential recovery towards $0.88.

BEAR TARGETS $0.17 IF LUMENS BREAK BELOW $0.30

BEAR TARGETS $0.17 IF LUMENS BREAK BELOW $0.30
XLMUSD 4HR Chart for January 18, 2018

Indeed there was a bullish statement yesterday, bears sliced through $0.40 as if it was nothing and at current prices, I expect some sort of support.

To the left of the chart and $0.30 is previous resistance now support. Possibilities of lower low is high especially in the daily chart. If prices do break below, support might be found at December 6, 2017 highs of $0.17 which is another break out resistance now support below $0.30.

However, any form of consolidation may welcome XLM buyers who could wave back prices to immediate resistance at $0.43.

IOTA BREAK BELOW $3 MIGHT OPEN THE DOOR FOR $1.1

IOTA BREAK BELOW $3 MIGHT OPEN THE DOOR FOR $1.1
IOTUSD 4HR Chart for January 18, 2018

Of course, considering price action, IOTA bearings is clear. Yesterday, bears sliced through $3 but couldn’t penetrate and close below $1.9 which happens to be January 16 lows.

IOTA price action is definitely cooling off but chances of prices tipping $1.1 is likely after all, it is December 22 lows and marks the 78.6% Fibonacci retracement of this charged IOTA rally.

In my opinion, any test and close below $1.9 in the coming session might welcome more sell pressure.

Conversely, if this bull candlestick opens up a gate for buyers, then we might soon be testing $3 but odds for that remain slim.

DASH BEAR BREAK OUT

DASH BEAR BREAK OUT
DASHUSD 4HR Chart for January 18, 2018

As it is, our bear targets were hit after yesterdays lower lows and what next? Since DASH price are bearish, there is no room for fading trend unless several conditions are met.

One of them is for prices to close above $800. For a solid signal, a follow through on Friday and a consequent close above $900 is ideal for buy entries.

If not, trade the bear break out and eyeball $400 with immediate targets at $525 just like yesterday’s projection.

LTC PRICES CLEAR $150 AS SELLERS AIM $115.

LTC PRICES CLEAR $150 AS SELLERS AIM $115.
LTCUSD 4HR Chart for January 18, 2018

Considering the speed of LTC depreciation, using the daily chart for projection is worthy.

Now, the first support and bear targets at $150 no longer holds.  However,  it looks like sellers are not planning on slowing down. From the Fibonacci, prices are just below the 61.8% retracement levels. As such buyers are looking  at $115 as the last stand.

Reason? Well, that price tag is around the break out price and any retest might trigger a rally.

Alternatively, assuming prices finds $150 fair, we shall need confirmation. That can only happen if buyers push prices above $180 or the 61.8% Fibonacci extension level.

All charts courtesy of Trading View

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After Charlie Lee bears, LTC sellers are picking up from where they left. Not only did they close lower but that multi-level support break out is significant.

Will sell pressure continue? Definitely and judging from the kind of statement yesterday, volatility might slow down but we all know sellers are in charge.

Let’s have a look at other alt coin charts

NEM BEAR BREAK OUT CLEAR IN THE DAILY CHART

NEM BEAR BREAK OUT CLEAR IN THE DAILY CHART
XEMUSD 4HR Chart for January 17, 2018

For us to get a gist of NEM price action, let’s move our analysis to the daily chart.

Here, you notice that last week’s double bar bear reversal pattern is on course and it is likely that bears will confirm that sell pressure.

I mean, it can’t be rocket science to know why. Check out that close below middle BB which we have known to be our support and the breach of yesterday’s main support at $1.14.

Zooming out to the 4HR chart and we have a sign, it’s a bear break out and we are looking for corrections back to the $1.14 before loading shorts.

LUMENS DROPPING WITH TESTS AT $0.43 SUPPORT

LUMENS DROPPING WITH TESTS AT $0.43 SUPPORT
XLMUSD 4HR Chart for January 17, 2018

When our support at $0.55 was sliced like butter, the middle BB in the daily chart caved in. Guys, this is bad for Lumens valuation and buyers should consider exiting your positions.

Even though we need a close below $0.43 before hammering that last nail on buy pressure, it is likely that prices will retrace towards $0.55 as a retest before sinking back below $0.43.

Word of caution: Even though prices are extremely bearish in the daily and weekly chart, we cannot completely discount chances of price consolidation.

Remember, $0.55 was our first support line but $0.43 is turning out to be significant.

Already we are seeing hints of bear rejection but if indeed bears are in charge, we need a bear bolt right now. A clear incision with close below $0.38 will clear all our doubts.

IOTA PRICES DANGLING AT THE CLIFF AS BEARS CHARGE

IOTA PRICES DANGLING AT THE CLIFF AS BEARS CHARGE
IOTUSD 4HR Chart for January 17, 2018

Bear momentum is strong in IOTA and you can check out that distance between the middle BB and the lower BB. If that is not enough notice the candlestick banding along the lower BB.

One thing can happen today, either a break out below $3.0 or rejection of lower prices. Undoubtedly, yesterday was bearish but $3 is also a strong support as highlighted on the chart.

Evidently, IOTA bears have been testing this price tag in four different occasions over the last 3 or 4 weeks.

It remains strong but given the set up in the weekly chart, break below might happen as prices try to wriggle out of consolidation.

Let’s not forget, any convincing close below $3 and we set our eyes on $2.2 and even $1.1 in the coming days.

DASH BEAR BREAK OUT

DASH BEAR BREAK OUT
DASHUSD 4HR Chart for January 17, 2018

Boom! Bears are are on a rampage and with that classic break out, we just have no option but to short and trade with the trend.

However, at current prices, DASH is trading at around $780 and looking left, that is previous resistance now support. If price erosion continues, then sellers should aim at $600.

AFTER CHARLIE LEE, ANOTHER BEAR WAVES BEGINS FOR LTC

AFTER CHARLIE LEE, ANOTHER BEAR WAVES BEGINS FOR LTC
LTCUSD 4HR Chart for January 17, 2018

Yesterday, LTC sellers broke two levels of support meaning sell pressure is high. We are off consolidation for another bear break out and that is why our ideal sell target is back at $150.

All charts courtesy of Trading View

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

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

Back to physics and LTC Hooke’s Law is what’s in play folks. From historical price set ups, the longer the stretch, the stronger the break out and I have emphasized that enough times.

So maybe you should look at buying NEM, IOTA and Monero especially if it closes above that double top as trend resumes.

Let’s have a look at other alt coin charts

NEM IS BACK IN LINE

NEM IS BACK IN LINE
XEMBTC 4HR Chart for January 13, 2018

As the week nears to an end, NEM is finally getting some traction and from yesterday’s analysis, all we need is a close above the 50% Fibonacci retracement.

With higher highs, it is most likely and that is what we are waiting today.

In line with this expectation, I recommend buyers to get in at the close of this candlestick.

LUMENS DIPS TOWARDS MIDDLE BB IS ANOTHER BUYING OPPORTUNITY

LUMENS DIPS TOWARDS MIDDLE BB IS ANOTHER BUYING OPPORTUNITY
XLMBTC 4HR Chart for January 13, 2018

As long as XLM candlesticks continue to print, we remain buyers. At the moment, we have a minor spinning tops formation along the 38.2% Fibonacci retracement level and two things can happen.

One, buyers may continue pushing prices higher-and that is what I think might happen or there might be a correction to the 50% retracement level and the middle BB.

Of course, given the set-up that is ideal for “buy on dips” strategy and should offer a wonderful opportunity to profit with minimum risk for swingers.

TRADE THE BREAK OUT AND BUY IOTA

TRADE THE BREAK OUT AND BUY IOTA
IOTBTC 4HR Chart for January 13, 2018

Now that we have a break out above the minor resistance trend line, we may as well as buy.

Now, if prices correct, our first support will be the middle BB and below it, IOTA bulls should look to place their stops and account safety net.

CLOSE ABOVE MONERO DOUBLE TOPS IS IMPORTANT FOR TREND CONTINUATION

CLOSE ABOVE MONERO DOUBLE TOPS IS IMPORTANT FOR TREND CONTINUATION
XMRBTC 4HR Chart for January 13, 2018

A simple Fibonacci retracement from last week’s high lows shows that prices reversed from around last week’s highs.

Regardless of the current Monero higher highs, it would have been ideal if buyers jumped in from the main break out-now support line at 0.025 BTC.

However, that has not been the case so we trade as per the trend.

Of course from previous analysis, Monero is playing within a break out and the moment prices close above the double tops, then well, those who didn’t snatch Monero at a discount should load up.

LTC HOOKE’S LAW

LTC HOOKE’S LAW
LTCBTC 4HR Chart for January 13, 2018

I had to check twice to see if my chart was loading right. Yes, it was and LTC is still in a squeeeeeeezzzze!! The longer it gets the better and stronger the break out.

It’s like the Hooke’s law in physics, the longer you stretch that rubber band the snap back will be more powerful and painful if you are on the receiving end.

I’m net long and I recommend longs now with stops below 0.017 BTC.

All charts courtesy of Trading View

Thinking of break out trades? If so, it’s time to buy Lumens. Why? First, prices are reversing from key Fibonacci retracement levels and secondly, at the moment Lumens coin is hot property. As such, riding with positive vibes-or anti-FUD news is always a good move.

Alternatively, if you are thinking of Monero buys, you should wait for a retest of 0.025 BTC for sweet entries-and by that I mean low risk and potential of high rewards entries.

Otherwise, the boring accumulation in other high cap alt coins on focus is not helping spread my “bullish” gospel!

Let’s have a look at other alt coin charts

NEM IN CONSOLIDATION

NEM in consolidation
XEMBTC 4HR Chart for January 12, 2018

24Hours later and NEM prices are flat and consolidating horizontally.  Of course from the way price action is set up, especially now we have this accumulation, it gets hard to define trend direction.

For certainty, we need NEM prices to close above the 50% Fibonacci retracement level.

The longer it stays in consolidation mode, the stronger the break out. Buyers can take cue from candlestick higher highs relative to the lower BB in the 4HR chart which might hint of buy pressure today.

TIME TO BUY LUMENS

Time to buy Lumens
XLMBTC 4HR Chart for January 12, 2018

Now that we have that close above the middle BB, Lumens buyers can begin loading up their position as price action is now aligning to last week’s trend.

Besides, this specific close above middle BB is in line with yesterday’s forecast.

IOTA ACCUMULATES ALONG THE MIDDLE BB

IOTA accumulates along the middle BB
IOTBTC 4HR Chart for January 12, 2018

The main resistance trend line stays as IOTA ceiling for now. Unless there is a strong close above it today, buyers should stay on the sidelines as they wait for a strong close above our trigger line.

From yesterday’s price action, movement in either direction was limited safe for that encouraging retest and minor consolidation along the middle BB.

I’m not relying on the 20 period MA for obvious reasons-consolidation in the weekly chart due to those spinning tops. I recommend longs but that trade must be backed by buyers.

0.025 BTC IS MONERO’S MAIN SUPPORT

Monero retests 0.025 BTC
XMRBTC 4HR Chart for January 12, 2018

All in all, we are trading a break out on this currency pair after that close above the main support line at 0.025 BTC.

Even though there were hints of support at the middle BB on our entry time frame, Monero continued to weaken.

There are two things that can happen today:  Either bears press lower or in that case we expect reaction at the main support line OR Monero prices close above the middle BB and hopefully trigger buy stops at 0.028 BTC.

I’m rooting for the later due to lack of confirmation of the bear candlestick that closed below the middle BB.

CLOSE ABOVE 0.018 BTC WILL BE A LTC BULL MAGNET

LTC resistance at 0.018 BTC
LTCBTC 4HR Chart for January 12, 2018

It’s better to stare at a wall than watch LTC move for sure. That’s how boring price action has been over the last 24 hours.

While the BB squeeze continues, the middle BB continues to shore prices as an obvious consolidation continues.

Relative to the descending channel-within which price action is moving in, there are some hints of bull pressure and a probable retest of the upper limit so long as prices continue to move horizontally as it is.

From our forecast, any bull break out might be a bull magnet.

All charts courtesy of Trading View

Like LTC, IOTA’s short term trend depends on if prices will close above the minor resistance trend line.

For IOTA, there are some spinning tops in the weekly chart while LTC sellers or BTC bulls continue to push prices lower towards the main double bottoms at 0.014 BTC in the 4HR chart.

In the mean time, close above key Fibonacci retracement levels from last week will determine NEM, Lumens and Monero rallies. Overly, I remain bullish and recommend longs in these coins.

Let’s have a look at other alt coin charts

BTC BULLS SLOW DOWN AS NEM FIND SUPPORT AT 0.000094BTC

XEM bulls
XEMBTC 4HR Chart for January 11, 2018

The general trend is up but from our entry chart, BTC buyers are pushing prices down with every higher high they make.

Relative to last week prices, NEM is down 60% and at current prices, bulls might as well jump in and drive prices higher.

Already we have that double bar reversal pattern at the 61.8% Fibonacci retracement level with immediate minor resistance being the middle BB.

Nevertheless-and despite our buy propositions, prices must close above 0.00010BTC or the 50% Fibonacci correction level as they sync with the overall trend before confirmation of buy pressure.

LUMENS CLOSE ABOVE MIDDLE BB INVITING FOR BUYERS

Lumens lower lows
XLMBTC 4HR Chart for January 11, 2018

XLM bulls might be having a hard time trying to figure what’s behind the rapid depreciation.

But, this is normal and given the size of large week’s candlestick-it was humongous by the way, volatility had to be tamed.

So far, Lumens have seen a 60% in price reduction and if today continues like it has been, this week’s candlestick might close as a bear forming a double bar reversal candlestick.

In case projection come to pass, longs should be null and void should prices close below 0.000032 BTC.

On the flip side since we are only looking for long positions, close above the middle BB will be inviting for Lumens buyers.

0.00025 BTC IS IOTA’S MINOR RESISTANCE LINE AND A POTENTIAL BULL TRIGGER

IOTA's short term trend
IOTBTC 4HR Chart for January 11, 2018

After periods of higher highs in the weekly chart, the IOTA rally is finding resistance.

To verify, you can check the weekly chart where some spinning tops are clear with their result clear in our entry chart.

Because of that formation, IOTA is definitely at the precipice.

In the coming sessions, it can either sink or soar and that might all boil down to that minor resistance trend line in the 4HR chart.

Look at how it has formed a clear boundary.

Any break and close above 0.00025 BTC and the middle BB signals buy pressure and short term scalp traders should aim at last week’s highs of 0.00032 BTC in the coming sessions.

Conversely, if the resistance trend line acts as a ceiling then 0.00022 BTC will act as our immediate support. Overly, I recommend initiation of longs if prices stay above 0.00025 BTC.

MONERO PRICE REACTION AT MIDDLE BB MIGHT PUMP BULLS

Monero support at middle BB
XMRBTC 4HR Chart for January 11, 2018

The moment Monero buyers pushed prices above 0.025 BTC earlier this week, they effectively committed themselves to maintaining prices above that price tag. Why? Because that close above concluded a break out trade and as usual, the candlestick must close as bullish to define the trend direction in the next couple of weeks.

Clearly, from the 4HR chart, we are beginning to see some reaction at the middle BB and this is good news for buyers.

Regardless of what happens, XMR a pull back in the coming sessions is desirable and I recommend buy stops at 0.028 BTC is the current candlestick close as a bull.

BB SQUEEZE MIGHT INFLUENCE LTC TREND

LTC inside a descending channel
LTCBTC 4HR Chart for January 11, 2018

If the current LTC surge is to continue then it is compulsory for buyers to break above the main resistance trend line and descending channel.

The direction of explosion of that BB squeeze is yet to be determined but the moment it happens, trading should be done in that direction. It’s that simple.

In the meantime, I’m watching how prices react at 0.0017 BTC and the odds of buyers driving prices past 0.018 BTC.

All charts courtesy of Trading View

If you were expecting fireworks this week, then you must be disappointed more so if you’re a Lumens trader. From the chart, it looks like Lumens sellers are on the driving seat preventing prices from recovering.

But, that is not the only suppressed pair. We can read the same script in NEM, IOTA, XMR and LTC even after yesterday’s encouraging double bar reversal pattern at key Fibonacci levels across the board.

Our previous buy triggers are still intact but let’s wait and see what today brings.

Let’s have a look at other alt coin charts

NEM PRICES ARE FLAT

NEM is flat
XEMUSD 4HR Chart for January 10, 2018

24 hours later and NEM prices remain flat and boring! Yes boring especially if you have been waiting patiently waiting for prices to dip if buyers are not willing to push prices higher.

That is often the test of traders. Patience! But will it disappoint buyers? That also depends but the 50% Fibonacci retracement at $1.46 is where I’m watching while not forgetting the main support line at $1.36.

Any close below these two levels and we may as well forget about longs. On the flip side, if NEM buyers trigger our limits and convincingly close above $1.62, this week might end up as bullish and confirm the general trend.

LUMENS SELLERS PUSHING PRICES LOWER AS BUYERS SET TRIGGERS AT $0.7

Lumens sellers
XLMUSD 4HR Chart for January 10, 2018

Compared to last week’s price action, Lumens is on a down trend but then it is good news for buyers.

You may ask why? But before that, look at last week super humongous bull candlestick that obliterated several resistance levels as defined by the Fibonacci extension tool.

Often, such types of candlesticks can be very disappointing especially for folks who bought at tops. In my opinion-and this is my recommendation, bulls might bounce back but that is very conditional.

I need to see movement and that can only be guaranteed by a close above $0.70 which from the chart is the 38.2% retracement level. Before then, just back off and wait.

CLOSE BELOW $3.3 IS INVITING FOR IOTA SELLERS

IOTA sellers and consolidation
IOTUSD 4HR Chart for January 10, 2018

I’m now certain of one thing: bear pressure. However, without getting too attached with the overall IOTA rally—it get addictive sometimes, any dip AND close below $3.3-a strong support line in the daily and weekly time frame invalidates our long projections.

It’s no secret that with the rapid expansion of IOTA, there is need of fine tuning entries. I admit, long term traders are late because at current prices, IOTA prices are at a cross roads.

Will it resume trend or dip towards the equalizer-the middle BB? That is what is left to time and on our part, we play the patience game unless otherwise. For now, let’s trade according to trend.

MONERO HIGHER HIGHS WITH SUPPORT AT $400

Monero close above $400
XMRUSD 4HR Chart for January 10, 2018

Yesterday, Monero buys kept prices from sinking below $400 and that level qualifies as our short term support.

It’s not hard, buyers begun buying from $350 and at the moment, they are up $70 and moving as per last week’s trend.

If Monero prices surge past $445, then Monero is most likely to test $530 according to Fibonacci extension levels from last week’s high lows.

Otherwise, any price ceiling and we might see prices testing middle BB and dipping back towards the 38.2% Fibonacci level at around $380.

WITH LTC CONSOLIDATING, BUY TRIGGERS AT $270

LTC sellers keeping prices below $255
LTCUSD 4HR Chart for January 10, 2018

LTC prices are moving within a really tight range.

Even though the recent dip from $300 is good for buyers, the tepid volatility is a toss as we wait for a break out above $255 and perhaps a move towards $270.

Because of this, today we will be watching price action and any depreciation below $230 invalidates our intra-week bull expectations.

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

It’s no doubt that it IOTA has been on a rough patch with sellers pushing prices lower. However, after that close above $4.2, just buy IOTA. Yes, and while at it aim for $5.5.

Of course, after last week’s higher high, retracements and break outs, I was hoping LTC to spice up after waking up from a 2 week slumber but it didn’t.

Instead we are seeing a series of lower lows and that is okay since any reversal from $255 is a retest which is pretty inviting for buyers.

Let’s have a look at other alt coin charts

AS NEM BUY PRESSURE STUTTER FOCUS SHIFT BACK TO $1.35

NEM correction towards $1.35?
XEMUSD 4HR Chart for January 8, 2018

Prices are pretty good and for NEM buyers, there is no reason to complain.

Judging from last week-which by the way ended up bullish against my expectation, looking for buying opportunities is after all a profitable activity and that is what we should be gearing at this coming week.

At the moment though, we there is that conspicuous 3-bar double reversal pattern, an evening star pattern right at the second Fibonacci extension line at $1.76.

I’m of the opinion that this level is a good trigger line for bulls especially if there is convincing dip and reversal leading to close about this obvious resistance line.

Like last week, my potential and ideal buy zone is at $1.35 as we look to trade that break out on January 3.

DASH IS YET TO CLOSE ABOVE $1300

DASH Buyers
DASHUSD 4HR Chart for January 8, 2018

We can go on and on about the effect of $1300 and how liquidation of DASH arises every time price action tests that level.

On January 6th, all talk was about the need of DASH buyers to push above $1300-CONVINCINGLY! I’m not seeing nothing of the sort to warrant a break out trade which if it does happen-bearing in mind the long consolidation, the blast would be “loud” and clear!

From my perspective, the minor support trend line is proving important in the short term and any break below means we have to wait for entries from key Fibonacci retracement levels.

BUY IOTA

Buy IOTA
IOTUSD 4HR Chart for January 8, 2018

For the first time in more than 12 days, IOTA buyers are trending above $4.2!

This qualifies to be a break out trade and as such, we should be looking for enter this trade.

Of course, any retest of $4.2 is another buying opportunity.

CLOSE ABOVE $430 INVITES MONERO BUYERS AIMING FOR $500

Monero close above $400
XMRUSD 4HR Chart for January 8, 2018

By week ending January 7, Monero buys had put in a lot of minutes and pumped prices $114 towards the main resistance at $400.

Now, here’s the deal. See that bear candlestick reversing right from the $400 following long lower wicks from late January 6? Those are pointers and signal a potential correction towards January 5 lows of around $350.

Regardless of the sell signal in the weekly chart, I shall be recommending buys at $350 as it coincides with the 50% Fibonacci retracement level anchored on last week’s high low.

Conversely, any blast above $430 cancels this minor correction and ushers in a new wave of strong bull pressure. Either way, our ultimate target is December 20 highs of $500.

LTC BREAK OUT TRADE: LOAD UP AT $255 RETEST

LTC Break out trade
LTCUSD 4HR Chart for January 8, 2018

You know what? All LTC traders should be thankful of the current retracement despite the strong LTC bull candlestick on January 6.

It’s typical of break out trades bearing in mind that the actual break out happened after that blast above $255 and as it is, these lower lowers is merely a retest which is cool.

I went ahead and placed a Fibonacci tool between last week’s high low and guess what? The $255 falls right at the 50% level and that is where I’m recommending we go long even if you did buy above $290.

 

All charts courtesy of Trading View and these are my own views. I’m not a signal provider so do your own due diligence first.

Let me know what you think!!!