Cryptocurrencies on January 31, 2018: outlook


*I don’t trade cryptocurrencies. The best strategy for trading a crypto bubble is a classic trend following strategy.
Here’s my outlook for various cryptocurrencies based on the aforementioned strategy.

Discretionary outlook based on charts

  1. Dash, Bitcoin Cash, IOTA, and Litecoin are all on the verge of breaking down.

2:09 pm. Dash, Bitcoin Cash, IOTA, and Litecoin are all on the verge of breaking down.
Charts for these alt-coins all look the same:

  1. Lower highs, lower lows.
  2. Consolidating on a multi-day support level with smaller and smaller bounces.

These are bearish patterns. Trend followers should not go long right now.




Read Cryptocurrencies in January 30, 2018

2 comments add yours

  1. charting in USD – during a Bitcoin bear market will always lead to the same conclusions as those which are already drawn by BTCUSD analysis
    evaluating charts on altcoins against BTC pair is stronger and leads to earlier comprehension of trend reversal

    • Of course it does. But ultimately, you have to convert into USD to use that “money” on a day to day basis. It’s like pricing one internet stock in another internet stock while the market is crashing during the dot com bubble. Makes no sense.

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