Crypto Buy Signals for July 21st, 2018 – ADA, NANO, BTC, ETH, STEEM
WD Gann was very specific about paying attention to the dates between July 15th and July 21st. He said the yearly high and lows can often be found around this dates. Considering that we have had 6+ month bear market and those new yearly lows have continued to show up well into July, we should view the market as a buyers market. Looking only at the Composite Index and Stochastic RSI for the weekly and monthly charts, we can see significant bullish divergence and more than sufficient buying conditions based only on those lagging oscillators. But let’s get to the buy signals.
Buy Zone: 0.167
Clear supportive buying near the 4-hour cloud along with showing the formation of a mirrored-foldback on the long-term trend. Additionally, we have supportive conditions met in the 4-hour Composite Index and Stochastic RSI. Fundamentally, there should be little that needs to be said about this crypto (Coinbase is considering adding it to its platform).
Buy Zone, Aggressive Entry: 7428
Buy Zone, Conservative Entry: 7632
The big boy on the street is showing signs of another breakout (and a continuation of the mirrored-foldback). We continue to show supportive conditions in the 7300 value area and we continue to observe prices moving higher. A break of the major harmonic price level of 7562.13 appears to be imminent. There is supportive conditions being met for buying based on the Composite Index and the Stochastic RSI.
Buy Zone, Conservative Entry: 483.03
If Bitcoin is a buy, really almost everything else is a buy. But entries are still important. For Ethereum the buy entry is a very simple and safe zone on the 4-hour chart. A buy stop at 483.03 puts price above the Kumo andabove the Kijun lines. Ideally, we would like to see the lagging span above the price action, but the inherent bullishness of the entire market makes the wait for that condition a little moot. Additionally, on the 24th we have the end of an old time cycle and the beginning of a new Law of Vibration time cycle. With the specific Gann dates and market lows appearing near a new time cycle, we can anticipate continued bullish momentum in Ethereum.
Buy Zone, Conservative Entry: 1.544
Buy Zone, Aggressive Entry: 1.44
STEEMUSD shows a similar Ichimoku system setup to Ethereum (and a great many other cryptocharts). Just like Ethereum, the buy zone here for the conservative entry is above both the cloud and the base line. It is alsoabove an important Gann angle in the Square of 144. A quick note about the number 144: it’s a crazy important number in Gann’s work. Anything that equals 144 or is a multiple of 144 signals some important moves. Consider the chart here and the Volume Profile indicating that the value area of 1.44 is within the top 35% of the volume traded at this price range. The VPOC is just above that 1.44 value area showing a strong correlation to the conservative entry price area.
Buy Zone, Aggressive Entry: 0.0003237
Out of all the charts showing an absolute bottom, NANO takes the cake. In my opinion, this chart shows the greatest single risk vs reward out there. NANO is trading just above its ultimate low-value area. Not only is NANO at an all-time low, but it’s at the 0/8 Major Harmonic value area and at the very bottom of the extreme Gann arc. It’s almost stupid how much of a buy this pair is at this value area.