New Crypto Buy Signals (and updates)
Last week buy signals were issued for BTC, LTC, BAT, XLM and EOS. We will review those prior signals and then look at some newer buy signals.
Cryptocurrency Buy Signals and Updates
- Last week buy signals were issued for BTC, LTC, BAT, XLM, and EOS.
- New buy signals are available.
Buy Signal Update – Bitcoin (BTC)
Last week a trade signal for Bitcoin was announced for an entry at the 3995 target area. The predicted conditions for a buy signal on Bitcoin’s chart was when price broke the 1-hour cloud as well as the 4-hour Kijun Sen. We are trading relatively flat in relation to that entry. Bitcoin is currently trading down -20 bucks from our entry point.
Buy Signal Update – Litecoin (LTC)
The target area was not hit for an entry (above 60) – no trade initiated.
Buy Signal Update – Basic Attention Token (BAT)
The entry was when price broke above the 45-degree angle and the 50% Fibonacci arc. Those conditions were met with an entry target of 0.2032. BAT is currently trading around 11% to 12% higher from our entry.
Buy Signal Update – Stellar Lumens (XLM)
No real changes from the entry point to the current value area – it is almost exactly the same. There was some continued selling pressure over the past 5 days but XLM has regained much of that down move.
Buy Signal Update – EOS (EOS)
There were two entry targets for EOS; an aggressive entry at 3.69 and a more conservative entry at 4.01. Both of these conditions have been met. From the aggressive entry at 3.69, EOS has gained as much as 13% since the entry.
Cardano (ADA) Buy Signal
Cardano is the single largest percentage of my cryptocurrency holdings. I’ve been a Cardano bull since their launch. They have also been an extremely fun and profitable trade. It’s hard to understate how powerful the moves ADA has made over the past couple of months. ADA is currently trading at nearly 8-month highs! That’s amazing given the broader market! ADA was one of the most beaten down and abused cryptocurrencies during the bear market, so it makes sense that there is some drastic recovery. The current level Cardano is trading in is the 1/8th Major Harmonic at 0.00001567. This should hold as an extremely powerful support zone.
Entry: Any return near the 0.00001567 value area.
Zcash is another very beaten down cryptocurrency. It’s currently the only ‘privacy’ coin offered on Coinbase, but that has not yielded a supportive price action. Currently, ZEC is trading in a bullish continuation pattern called a bull flag. An entry at 57.2989 would put price above the 50% Fibonacci arc and, most importantly, it would break the trend line of the bull flag to see a much larger move higher.
The update for the LTC trade from last week yielded a target that was not yet reached. The entry at 61 still appears to be a good zone to tag for a break out above the current congestion as well as a move above the current 45-degree angle.
HOT’s chart has been one of the best performing and outperforming cryptocurrencies since December of 2018. In fact, HOT has moved over +328% from the December 2018 lows. That’s a staggering and powerful sustained move. On the current chart, HOT is displaying some very wide distribution and consolidation. A conservative entry above prior trading highs on the daily chart should yield good results.
ICX has had some very bullish moves as well. It has mostly been following the aggregate market in its moves. Like many other crypto charts, the ICX chart is displaying a powerful bull flag. An entry above the most recent high would yield the best results.