Triggers (TRIG)
$0.166253 (0.00 %) View coin |
Bitcoin Gold (BTG)
$7.20 (0.28 %) View coin |
Waves (WAVES)
$1.09 (31.53 %) View coin
Newsletter
10 September 2018

3 coins to keep an eye on | Issue #7

Hello everyone!

Fortunes were made and lost this week as Bitcoin violently retraced its bullish climb made over the last three weeks.

It’s likely that the next week or two will bring sideways movement in Bitcoin as it consolidates for its next impulse up or down.

Consolidation in Bitcoin often leads to activity in altcoins. Movements in the cryptocurrency markets over the upcoming weeks are likely to be highly volatile, and with no clear direction, as Bitcoin hovers on the edge of the abyss while also hinting at reversal.

However, here’s a few coins to watch which have hot events listed in CoinMarketCal this week and also have charts with potentially bullish short-term setups.

@tradeprophet


Triggers (TRIG)

Triggers (TRIG)

Price
0.228975 USD (36.66 %)
0.00003622 BTC (33.19 %)

Market Cap
7 351 370 USD
1 163.00 BTC

Volume (24h)
4 442 650 USD
702.72 BTC

Trade
Binance

In mid-August, TRIG broke its downtrend supply line beginning in May.

Since then, it has been forming an ascending triangle under a TD9 resistance sandwiched between two bearish orderblocks. This may be a hint of a bullish trend beginning to form.

TRIG broke out from this ascending triangle to test the resistance last week. Despite being harshly rejected on the first try, TRIG pushed into resistance a second time today - this indicates some strength.

Overall increasing volume suggests buyers are becoming interested in this coin. The guppy fast “trader” EMAs have begun pushing into the slower “investor” EMAs, which hints that investors may finally have stopped selling into rallies.

Although no clear bullish trend for TRIG has yet been established, aggressive traders may wish to begin positions in TRIG in this zone. A retest of the top of the ascending triangle could give a well-defined risk-reward entry, and provide at least a short-term buy opportunity as the trader EMAs test the investor EMAs a second time.

Further supporting trend reversal is a hard-hitting fourth quarter of releases for TRIG.

The CoinMarketCal list of events shows us that TRIG will launch smartguns.com, masternodes, and its mainnet by December - all beginning with exposure to potential investors this weekend at the NRA Carry Guard Expo.


Bitcoin Gold (BTG)

Bitcoin Gold (BTG)

Price
19.43 USD (0.74 %)
0.00307383 BTC (0.86 %)

Market Cap
334 752 894 USD
52 950.00 BTC

Volume (24h)
6 613 073 USD
1 046.03 BTC

Trade
Binance

Bittrex announced on August 31st that it would be delisting Bitcoin Gold on September 14th.

Delisting announcements often result in an abrupt sell-off by panicking investors terrified of becoming “bagholders”. Interestingly, the BTG chart tells us a different story.

After the announcement, some selling did occur. However, the price set a higher low several days later. This could be the start of a bullish trend, which might be further supported by price setting a higher high in the near future.

This higher low was accompanied by increasing volume across many exchanges which suggests that buyers may be accumulating BTG as other sellers abandon the coin.

Aggressive traders may wish to enter near the trendline suggested by the higher low and attempt to play the ascending triangle. Sell pressure is likely to exhaust in the near future as the last panicked sellers dump their remaining shares into eager buyers by this weekend.


Waves (WAVES)

Waves (WAVES)

Price
1.93 USD (-0.06 %)
0.00030549 BTC (0.14 %)

Market Cap
193 131 075 USD
30 549.00 BTC

Volume (24h)
4 033 780 USD
638.05 BTC

Trade
Binance

Today, WAVES launches its smart contracts.

WAVES has already been consolidating directly under multiple sources of resistance for some time - its long-term investor EMAs, the daily countback line, bearish orderblocks, and TD9 resistances set during the downtrend.

This is also in the general region of a significant weekly support level established in 2016 and early 2017.

The break of the downtrend supply line beginning in May and price holding relatively stable for the last two weeks suggests that supply may be mostly exhausted and buyers are accumulating for a move up.

A break of the resistance from 0.00032-0.00033 could lead to an intense impulse upward to the next available resistance and possibly create a higher-high in price and the guppy’s trader EMAs, pushing them through the investor EMAs and finishing the current wave pattern.

Consolidations under resistance are often bullish, and price breaking briefly above resistance may have hinted at the market’s overall sentiment.

However, it is also possible that the news will be sold, and the price will plummet from here. Appropriate stop losses regions are well-defined above and below the consolidation zone, giving both bears and bulls excellent risk-reward opportunities to enter or add to short-term positions early this week.

Newsletter
02 December 2019
3 coins to keep an eye on | Issue #58
Brief euphoria gripped the bulls last week as Bitcoin's price rocketed up 20% from last November's dump level around $6618. However, the initial test of the previous support at $7933 appears to be a failed retest, providing bears with an excellent entry. This move is also the next piece of a classic distribution pattern. I...
Newsletter
07 October 2019
3 coins to keep an eye on | Issue #50
Bitcoin wobbles in a tight 10% range after its massive plunge in late September. So far, it's found support in May and June's orderblocks, but price action is beginning to show classic signs of distribution in a market cycle. Similarly, the altcoin marketcap has held relatively stable around $70 billion during the last wee...
Newsletter
17 June 2019
3 coins to keep an eye on | Issue #35
Bitcoin is off to the races again after a month-long consolidation period. The break of resistance at $8800 could trigger another wave of euphoria, with the area around $9800 posing a reasonable target. The altcoin marketcap also continues to trend upward gently. The news of Binance restrictions for US customers destroy...

3 coins to keep an eye on 👀