Bitcoin Falls, Alt’s Rise
Another day where we see a decline in Bitcoin that surpasses the rest of the top-10 in crypto. Ethereum, EOS, XRP, and Litecoin all hold better than Bitcoin. Cryptotraders, take your time and be patient!
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The Trader Cobb Crypto Show. Talking business in Blockchain.
Hey everybody, welcome to the Trader Cobb Crypto Show. I’m back in the office, first time in a while. It’s nice to be back in this environment, really. Very fast computer. Oh, it’s good to be back. No more having to wait for things. It all happens instantly and, as much as there’s not a lot going on in the markets, I’m pretty pumped to be back in here ready to attack. It’s been a good week or so since I’ve been back in here. Of course with the Brisbane course over the weekend, and me taking some time out up in Noosa. I’ve really had a good break. During that break it doesn’t look like there was all that much that happened, so I timed it pretty bloody well. Pretty stoked about that. By the way, thank you to everyone who came along in Brisbane, and if you’re coming to Melbourne, get your spot. I think we’ve– We might actually be full I’m not sure. Anyway, let us know. Okay, so Bitcoin’s sitting at 10,920 today, down 4.21% talking to the Bitfinex chart. And look realistically, it ain’t looking too crash hot. A couple of things to consider here, if I look at the daily here, it didn’t break up through that bullish candle in the daily Cradle Zone. What does it mean? Not a great deal to be honest. As we go to zoom out and have a look at the weekly, we’re a bit messy on the weekly here. It’s been a while since we’ve had a good run. But, we take ourselves back to periods of times such as back in December of 2015, January 2016. And also back through July and in through August of ’16, and we have had the market go into sideways periods.
Now if I have to wait a few months to get a similar sort of run from that October, sorry, August period, up to where we were with the 3,320%, I’m happy to wait a couple of months for that. It just makes it sort of intra-day, oh sorry, just makes trading a little bit more slow. And I say slow because you can trade through this rubbish if you wish to and you can lose as much money as you want. For me, I’ll be sitting back and waiting for the best opportunity so you know, we’re sitting above 10,000 still. We had a pretty strong run-up from the 91, 18 lows and as much as it is now in a four hour downtrend, it’s not a good enough trend for me to be really looking for trades in at the moment from my point of view. Ethereum against the dollar is $2, sorry, $2. $210.27, down 0.63 of a percent, so naturally the ETH, BTC chart is up about 4%, or just shy of 4% today. Again, a pretty ugly looking chart, the daily is very sideways. Has been ranging around that $200 mark for a while now and not really much to report there. EOS also looking pretty average at $4.09, down 1% today. Bitcoin is the, one of the main, well the major faller. Major decline in the top ten. The rest of the market are sort of holding its ground, a lot more buoyant than Bitcoin at the moment but EOS again, an ugly chart. XRP, sorry, XLM 7.4 cents, down 1.69%. That spike that we see there in Bittrex, it’s just ugly. There’s really nothing much going on though, I’m just not a fan of it at all. XRP against the dollar. Still hanging around, not breaking that 28.5%, sorry, 28.5 cent support. It’s a really horribly, ugly-looking chart. As is most of the top ten to be honest. Has been for a while now. Apart from Bitcoin and Ethereum, couple of weeks back, it’s been a bit of a mess. Litecoin against the dollar, again just hanging down low, 85.36. So $85.36, it’s down to 0.79%. And again, a very ugly chart.
Bitcoin cash, the absolute star performer in the top ten today. It’s up 6.48% at 352.15, soldiering along quite nicely. As a matter of fact the trend, or the chart I should say, against Bitcoin also doesn’t look too bad. One of the better trends out there at the moment. Although not amazing, it’s a slow grinder. Binance against old Tether is at $29.50, it’s down 2.27% today. And again a very very confused looking, messy chart. Tron falls into the same boat. Although the daily yield’s in a downturn of lower highs and lower lows, pulled back beautifully into an old level of support and resistance. That old support became resistance, clearly. The bottom that I’ve got is it has been diverged, it’s across the board. It’s a pretty average, ugly-looking chart at the moment, and from my point of view, it’s really not something I’m looking to trade. It’s at two cents point four, and we’re down 1.37%. Finally Cardano. 1.32% down, sitting at 5.2 cents as well. Very ugly looking chart as well. The only thing are RVSB, USD. BSV. USD. Let’s have a look at that in the in the bitfinex chart. What we’ve got is a little bit of support starting to come in there, around 138.30, $138.30 right now. It’s currently not at that level. Currently, the price that we’ve got is at 143.95 and it’s just hanging around. So, you haven’t got that support there that’s tradable just yet. But I am keeping an eye on that. It is in my watch list. I am stalking that today. So, guys I’m back. Things will get back to normal for the next couple of weeks, until I head down to Melbourne, to go back on stage and run the next two day event. I can’t wait to see you there. If you haven’t got your spot, then get along. Go and have a look at the webpages and what not on TraderCobb.com and have a look at the testimonials that people have been giving. These are people that have done courses with us before, coming back for a refresher and absolute beginners. We’re doing a good job. I’m very proud of what we’ve put together and I hope that you get to join us. If not, jump online, check out the online courses and get yourself ready for the next run. Whether it be higher or lower, we’ll be there. Bye for now.
This show is proudly sponsored by TraderCobb.com, the leaders in checklist-based trading strategy. Yes, that’s exactly how it sounds. I’ll teach you a literal checklist so you can tick off items and be decisive very quickly. Get across to TraderCobb.com where there’s a bunch of free content there for you to have a look at and, of course, if you’re interested in having me come to your city, click and register for the live events coming up and filling fast. Have a great day. Visit TraderCobb.com now,
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