Welcome back all!
We're nearing the final leg of the bull market. The final leg is Up Only. Much more "Up Only" than you've experienced thus far... Exponential and parabolic growth ABOVE previous all-time highs, which we've finally just gotten back to on many coins. So let’s jump right in. What's next?
Altcoin Market Cap
We are in a full-on Cup & Handle pattern in the Altcoin Mkt Cap chart. We had a lovely 3-touch channel break long, now Cup & Handle. Soon, moon.
Total MC
Total Market Cap in an Upward Ascending toward 2.5T. This would be the 3rd touch on this trendline, and would likely land us in another pullback period until we pinged the bottom boundary once more.
LTCUSD - IMMINENT BUY
LTCUSD 1D. We just broke long through a 5-year upward sloping trendline (USTL). All resistance before All-Time High is gone. With $370 up next, we can then look forward to new gains. Because the previous high is just the beginning... I look forward to an additional 2.5x from there, minimum.
More Litecoin charts:
Intraday, (4H above), we have an Upward Sloping Channel, with a parabolic increase curve.
1H - A little dirty, but there is an additional Upward Sloping Channel on the 1H - a separate one from in the 4H - that price is currently pinging between the boundaries of. I don't think they'll hold long...
NOTE. If you want "in" to this trade, you will want to buy immediately or you will miss this break. It is unlikely to give any warning before running up with massive candles that will rapidly lose your value on the position if you're just jumping in at that point. We're 75% (estimate) through this bull market. The last leg is VOLATILE, AND EXTREMELY UNPREDICTABLE. You do NOT "trade around" in the last leg... You want to be in the positions you want to be then, NOW. Before we launch into how vertical we're about to get... Price will rise faster than you've ever seen. And it will make you forget everything you ever knew about trading or money management. I've been there before... twice. Trust me, you want to increase your chances of success by thinking things through well ahead of time; to have a plan regardless of what the market does. Yes, react to the market when you're risk-on, life is good, and markets are predictable. But those are times during which it's not hard to manage emotion! What you're about to face is a feeling you will only have perhaps a dozen times in your entire life. Emotion will destroy you in this game, and if you're not loaded up and strapped down on whatever rocketship you're going to ascend to the moon on (your bag), and you love everything about that bag now, you will NOT make smart trading decisions later. You will regret your approach, and you will re-hash how it could have gone better for months after it's over. Don't be that trader.
ETHUSD - 4H chart
Took off right where I said it would last episode. Now it's higher than that. No additional TA avail at this time. I will say that a fib extension is a good place to start if you're not already in this trade. 1.272 is the most frequently re-tested Fib Ext. level, which is about $3200 on ETHUSD.
EOSUSD - 4H
Bull Flag after Bull Flag on the 4H. Looks like the Previous High ($8.75) is the next catalyst. Certainly bullish up to there.
RUNEUSD - 4H
This chart is so simple it's not even funny. It's probably the simplest chart in all of crypto right now... I don't think I'll even explain it. The yellow part is good enough...
IOTXUSD - 4H
IOTX was in an Ascending Channel, then the structure evolved into a Bull Flag / Symmetrical Triangle. The price action is clearly corrective and the previous impulse being to the upside, as with most all other cryptos right now, the sentiment is bullish. Therefore the break of this Symmetrical Triangle will likely be up.
LUNAUSD - 4H
We had a massive consolidation with LUNA as it pumped so hard and fast at the start of the run. It took from 40%-70% through to get its act together again, but now that we're in the last quarter, we might see big things from it once more. Next stop: $34
Reader Request - BNTUSD - 4H
Bull Flag broke long > next resistance is about $9.35. If it reaches that level IMPULSIVELY, then forms a small corrective pullback, you can choose to DCA in now, then again if you see that nature of price action. If you're not in this trade already from the breakout of the Symmetrical Triangle, that is.
Reader Request - COVABTC - 1D
COVA looks like it might gain some ground vs BTC if it can break above this red S/R Zone. It's not looking good in its current state, though, as it's risen to meet this S/R level not with gusto, but very timidly and correctively. I would not be buying this at this time, personally.
Reader Request - RPLWETH
I couldn't find any other chart of this except vs. ETH, so I went with it.
Cup & Handle pattern failed. The Handle didn't happen in time. The only hope from here is it runs up and forms a nice little correction under this line, to signal its imminent breakout. The chart IS overall bullish, I will say, as it's forming a Flag Consolidation of sorts, and has already broken above a key Trendline with volume.
Other Reader Requests
There were several Reader Requests from last week for brand new coins that didn't have enough price action to chart anything on. These requests have been excluded.
Hope you enjoyed this week's episode, and hope you took the condensed lesson - that I put above under the LTCUSD chart - to heart. Have a plan, because the coming weeks will test you greatly in ways you can't even understand right now if you haven't been through it yet.
Best of luck to you, and use my lessons in all my previous episodes if necessary, to get you through it with flying colors. Especially Episode 4...
If you have any specific questions for me or are wondering about other tips and tricks I use in my trading, please, ask away in the comments. List what you're struggling with most, and I will try to provide some guidance in my next episode.
Disclaimer:
Cryton Capital is not a registered investment advisor, legal advisor, tax advisor, or broker/dealer. All investment / financial opinions expressed in any-and-all posts on this page, including screenshots & captions, are from the personal research and experience of the owner, and are intended to be interpreted as educational material only. Although best efforts are made to ensure that all financial charts and commentary are as up-to-date as possible, there may be times where price moves beyond key levels before the chart can be posted. Alas, this is part of the fast-paced financial sector and cannot be avoided. Also, occasionally unintended errors and/or misprints may occur.
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Im learning so much from this series - great stuff mate
Thanks all! Really appreciate the feedback! Man, I thought there was something wrong with my posts with the lack of feedback before... turns out it was just Voice 🤣 I'll keep 'em coming! TAking Requests tonight or tomorrow, so ya'll can toss in some pairs for me to analyze for you for next AotC release! And I'm announcing a date/time for an AMA with me as well, on the CryptoWriter Telegram. Talk to you soon!