Disclosure. The author does not own any LINK.
BCH has been ranging but the volume on bigger exchanges is so-so. Why is this happening when so many other markets are in rally mode?
The short answer is internal chaos. There has been a power struggle between company co-founders that seems to not be getting any better.
Bitmain presale operations has said that all June & July orders will not arrive until September or October at the earliest due to internal problems. It seems like the safest trade is buying with strength and buying the breakout from the range in the event that internal struggles break the price floor.
You can check out BitmainDrama here: https://twitter.com/search?q=bitmaindrama&src=typed_query&f=live
Disclosure. The author owns no BCH or Bitmain debt obligations and has no long or short positions.
The pattern continues to hold. A new swing high from the high 2 weeks ago with a continuing pattern would suggest buying the breakout and any short term dips.
Disclosure. The author does not own any ETC
For a multi billion dollar ICO it seems EOS is lacking market momentum. Support has been strong around 0.00027 but there is no strong bullish narrative until price breaks above 0.0003
Disclosure. The author does own BTC.
Trading Everything That Moves
The FileCoin FXIL (IOU) chart on Poloniex has been showing some text book market structure & volume profile correlation.
Price is currently ranging, and if you are the “trade anything that moves” type of person, then this is an interesting market to consider. Most new launches see a fairly large amount of volatility. Therefore a break of the range will provide some trend based trading.
Disclosure. The author does not own any FileCoin, XFIL, or IOU’s.
Buyers, Buyers, and more Buyers
The volume on the PIVX PIVXBTC chart is screaming to be noticed. There has been far more interested buyers during this year’s consolidation than last year’s. This should get traders attention because volume often leads price.
Disclosure. The author does not own any PIVX, yet.
Will Volume Lead Price?
The volume profile on the BitTorrent BTTBTC charts at Houbi(first chart), Bittrex(second chart), and Bitfinex(not shown) are all indicating more buyers than sellers over the past months.
The Houbi chart is showing a move back above resistance today after spiking though it last week with high volume. There is function technology associated with BTT, therefore it seems like only a matter of time before the price moves.
Disclosure. The author does own BTT.
A Rising Tide Lifts All Boats?
FLO has seen better days and hopefully can stay alive. With so many other coins lifting off of their price floors this one is staying remarkably flat.
The mid-term chart(chart #2) has rarely seen a daily close below 250 sats. The long term chart(chart #1) shows that the mid-term consolidation is also right near long term support levels.
I suggest looking into it more and see if it’s worth your bids. You know…DYOR, haha. If it is worth while then it might make more sense to buy the breakout, which isn’t far away, in case it does not follow the rest of the altcoin market.
Disclosure. The author does not own any FLO.
I’m going to let this SC to ZIL chart comparison chart speak for itself. Pure Hopium, yes. But maybe??? LOL.
Disclosure. The author owns SC.
Double the Support
The Tezos XTZBTC chart has price dipping into a major support zone. This is defined by the Long raid of breakout traders inside the pink box. The second is the old high on the left side of the chart that has already acted like support. Bears bots will likely pile in below the horizontal blue line.
Disclosure. The author owns XTZ.