Prediction: Altcoin Bull Market Buy Signals
Bitcoin (BTC) has had it’s nice run, time for the other half of the market to get on the bull train. Many altcoin BTC pairs at historic or multiyear lows, representing perfect buying opportunities.
The Bitcoin Bull Is Charging Forwards
Let’s take a moment of silence for the metric crap ton of BTCShorts on Bitfinex who just got annihilated this weekend and especially this Monday (May 13th, 2019) – I saw their positions get ran over then margin called in quick succession. If there is one market that I am a permabull in, it is the cryptocurrency market. It is the most long biased market ever and it’s just insane how many permbears there are in this market. The same people keep trying to short Bitcoin all of 2019. The Bitcoin bull has made its first thrust. It was just digging its hooves in since late December 2018. If we look at the open of the weekend (the Saturday daily candle opens on Friday 1900 CST) to the swing high of today, we get a pretty staggering and powerful move. On May 10th Bitcoin was trading at 6342.99 and by Monday, May 13th, 2019, Bitcoin reached a new 10-month and 2019 high of 8195. That’s a $1,852.01 gain or a crazy 29.20% gain in a 3-day trading period. But Bitcoin’s had its run and its time to let the other half of the market have some fun.
Altcoin Buy Signals
While the pundits and the reactionary reporters continue to post on the current and past price action, its important to keep looking forward and predict where the next value buy is. And where is that? The other half of the cryptomarket – altcoins. Yes, cryptos have added billions to its market cap, but that’s pretty much been Bitcoin. There’s a whole other half of the market that has yet to catch a bid. But there are some great buying opportunities right now.
Cardano (ADA) is a personal favorite of mine. And it’s ripe for a bull move. Hell, it just made new 2019 lows today and is not far from the major 2018 lows. The present value area for Cardano is fantastic – anything under 0.00001 is a steal. But zone would be above the current 1-hour Kijun Sen.
Entry at: 0.00000995
EOS is just one of those platforms that gives me a lot of worries. It’s decentralized like China is decentralized. EOS is more like an oligarchy in its organization and control than anything else. Regardless, if it can be traded and if I can make money, I’ll trade it. EOS has a great entry opportunity on the 1-hour Ichimoku chart at 0.0007693, that would put the Chikou Span and price above the Kumo, fulfilling the ideal Ichimoku breakout condition. As a bonus, that would put price above the 4-hour Kijun-Sen as well.
Entry at: 0.0007693
Decred is one of the only charts where I am going to take a long position while price is below the hourly Kijun-Sen. There’s one primary reason why I feel safe doing this: It’s a stupid amount of distance from the Kijun-Sen on the 4-hour Ichimoku chart. On every chart on every timeframe, there is a ‘max’ distance that any instrument will move from the Kijun-Sen on a particular timeframe and Decred is at that max on its 4-hour chart. I would expect a little chop up against the 1-hour Kijun-Sen, but we should get a strong response and see price shoot through it fairly easily.
Entry at: 0.003755
Holochain is one of the cryptocurrencies that is going to absolutely change the way we operate and view the Internet. I think it’s absolutely nuts that there is not much ‘pump’ about this cryptocurrency out there – but that’s fine with me, more buying at crazy lows for you and me. I have some resting buy stops at 0.00000019, which is just above the 1-hour Kumo. That entry price would bring an ideal Ichimoku breakout setup with price and the Chikou Span above the Kumo.
Entry at: 0.00000019