Scorecard for the Coming Week
Today we share the latest look at three large cap cryptos. Here are the takeaways:
BTC and ETH — still offer a snapshot of the market in general and are still in a tight range over the last week. Key levels are identified where volatility is high probability to return.
XLM — weeks ago we shared and XLM trade — the edge was clearly to the upside and a move higher has now started — how much higher? We think the XLMBTC chart offers a clue but there are other targets to deal with first - in any case XLM can be traded safely as shown in the chart.
One other indicator worth keeping an eye on as a market indicator:
MIDCAP AND SMALLER ALTCOINS: Some have shown HUGE moves —our ENJ trade shared two weeks ago went up over 100% — that looks more like a 2017 trade than 2018. Historically been a bullish sign for BTC at least and possibly the entire market. If this is a bullish sign the broader market should trend higher in the short term. The higher probabilitiy is these huge moves are continued hedge fund and whale manipulation — because there has been no follow through and, more importantly, because THEY can.
View CryptoPatterns's post archive >