Home Ethereum Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA)

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Cardano (ADA)

6 min read

Cryptocurrency Buy Entry Levels

Bitcoin (BTCUSD)

Above: Bitcoin

I’m utilizing a Level & Determine chart setup for this text. I’m an avid Level and Determine dealer and advocate. I exploit candlesticks as my main chart kind, however I exploit Level & Determine to execute my trades. Level and Determine additionally data just one factor: worth. It’s the worth motion merchants chart kind. I like the way it filters out all of the noise and little swings that happen on time primarily based charts like Japanese candlesticks. I’ve disregarded the Fibonacci retracements and extensions on this chart on goal as a result of, effectively, it seems to messy. The brief setup includes a Level & Determine sample generally known as bull entice. Bull traps happen when a purchase sign is generated, however then the following column of O’s generates a promote sign. The entry of a brief at $30,000 would affirm a bull entice and supply a conservative revenue goal at $28,000. For the lengthy aspect of the market, I’ve recognized an important zone for a Purchase Restrict order at $22,319.39. The highlighted blue zone represents two key Fibonacci ranges: a 161.8% extensions and a 61.8% retracement. That worth degree additionally fulfills what we wish to see for Bitcoin relating to a retracement, which is a >40% drop (on this case, it will be a -46% drop).

Brief Entry: $30,000 – cowl at $28,000

Lengthy Entry: Purchase Restrict at $22,319.39

Ethereum (ETHUSD)

Above: Ethereum

best exchange rates today Much like Bitcoin, however with out the brief thought, Ethereum’s purchase restrict orders exist the place there’s a confluence of Fibonacci extension and Fibonacci retracement ranges. The 2 purchase ranges every comprise robust Fibonacci ranges. The primary degree at $774.44 is a confluence of the 50% Fibonacci retracement and the 161.8% Fibonacci extension. The second purchase degree at $622.34 is a confluence of the 61.8% retracement and the 200% extension.

First Purchase Entry: Purchase Restrict at $774.44

Second Purchase Entry: Purchase Restrict at $622.34

Litecoin (LTCUSD)

Above: Litecoin

I’m actually stunned that Litecoin didn’t accomplish what each Bitcoin and Ethereum did on this newest bull run: create new all-time highs. The purchase restrict zone I’ve recognized has three necessary confluence worth ranges. The primary is the Fibonacci retracement of 61.8%, the second is the 100% Fibonacci extension, and the third is the -50% drop from the prior swing excessive. That -50% drop falls into line with Litecoin’s regular retracement quantity throughout an enlargement section.

Purchase Entry: Purchase Restrict at $93.00

Cardano (ADA/USD)

Above: Cardano

Cardano represents one in all my greatest hodl positions in cryptocurrencies. It’s additionally a enjoyable one to build up and swing commerce. Like the remainder of the cryptocurrency market, Cardano has a traditional retracement of 40% to 50% throughout an enlargement section. The purchase restrict zone I’ve recognized at $0.22 has three necessary Fibonacci confluence zones. The primary is the 23.6% retracement from the swing low of 0.03 to the most important swing excessive all the best way up at $0.85 (January 2018). The zone contains the Fibonacci 141.4% Fibonacci extension and the 50% Fibonacci retracement. The purchase entry at $0.22 is -44.43% under the Level and Determine excessive of $0.39. I’m anticipating a powerful assist zone right here.

Purchase Entry: However Restrict at $0.22


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