Is Bitcoin About To Break?
Wow, I took the weekend away from the charts and how good it was! I didn’t miss much by the looks of it. I am stalking a break on bitcoin. Have a listen.
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The TraderCobb Crypto Show. Talking business in Blockchain.
G’day everybody. Welcome to the TraderCobb Crypto Podcast Show. I hope you had a cracking weekend. I certainly did. It was a very, very good one indeed. And there’s not much that happened to the markets which is good. I said that I was gonna take the weekend off and did a little bit of something Saturday. But since then, really not very much at all.
I just wanna throw a quick shout out to, thank you to everybody in the US, the UK, France, Germany, all across Europe as well. We’ve been seeing your numbers increase on the podcast. So thank you for listening and viewing and being involved with what we do. Obviously, you will have heard a lot about the classroom courses that we’ve got running at the moment throughout Australia, but don’t worry. Everything we do is online as well. And we’re going to be continually updating that.
Just something else to touch on, there’s a whole range of new content in the members’ area. So if you are a member who’s joined up for bronze or above, then jump into that members’ area and have a look because we’ve got access to things that my apprentice has been working on, the trade calculator, how to use certain trading accounts. Lots of bits and pieces like Terry’s risk management series.
There’s a whole range of new content, additional information’s gonna help you as a trader. So get into members’ area and if you’re not already a member, well then you know what to do. And do it soon because we are gonna be making some changes and if you can’t do it now, well you won’t be doing it later. So get involved.
Top 10 Cryptocurrencies
All right, guys. Having a look quickly at the top 10 as we kick this Monday off here in wonderful Australia.
Of course, a couple of things to note right now, this is a higher low and this is a higher high and that’s as simple as that. I know it’s not by much and I know that we’ve got another higher low here potentially because it’s not the higher high yet, but we have a rejection of $10,000 many many times. Did we close below here? No. Nope, no close below there either. So, we’re holding our ground.
A couple of scenarios to play out. Let’s first look at the weekly. It’s rejected $10,000. It’s holding out. It’s a very ugly chart. The weekly doesn’t tell me a great deal at all. The two-day here. Not a great deal there either. Looking at this one day, rejection, rejection. It’s not showing me too much on this daily apart from those rejections at $10,000.
$10,000 seems to be holding quite well. It’s as I go lower that I start to get interested. And let me take you from, so let me start with the four-hour here. Higher low, higher low. And let’s just throw in a bit of resistance and see if we can find it there. There is some resistance there. I know it’s a little bit of [Inaudible] break there, but higher low, higher low coming up into resistance, and look at where that higher low is off.
Yup, below that $10,004. Interesting? No. I mean yes, but surprised? No. We are building here, does look to me as though we are building into something. I’m going to get rid of that line and see if there has been significance at the moment. What I am trying to wait for here, the line that I said, if you’re on the podcast, was $10,531. If you draw a little line there on the four-hour, what we’ve actually got is two tests of resistance. And a couple of higher lows as we creep up into there, like a Bitcoin breakout type set up.
Now I need to see a third test, a break above at $10,531, I could certainly spell some additional bullishness for me, and I would be looking to trade through that if I can get a set up. Currently, Bitcoin is at $10,344, up 1.13%.
Now Ethereum is hanging low, it has had a decent move today sitting at $194.72, up 4.79%, and it did break here. The level wasn’t quite as firm but definitely a nice little breakout there, has had a fairly stellar move over the last six or seven hours, sorry, eight or twelve hours I should say, that’s a four hour, not a two hour. And, yeah, good recovery. As a matter of fact, much of the top ten has had a very good recovery. Hell of a lot better than Bitcoin right now.
EOS is up 4.14% at $3.70 again, still on a daily downtrend, but a nice push to the upside. Not too much more really brings the table in that on EOS.
Stellar Lumens is sitting at $0.07, up 4.52%, and once again very sideways, not doing a great deal, a little pop, but nothing more.
XRP has had a nice bounce back to finding some sort of resistance around that $0.285 that I’ve been talking about for a very long time. We broke down through that, obviously. And right now, we’ve come back up into that region. Now what that’s going to do now, well, that a question I need to know.
The problem I’ve got right now is that they’re all big candles around that I might be happy to take a short from that point of view, looking at the twelve-hour and higher, but for right now, it’s just a market that I’m watching. And its at $0.28, up 7.1%.
Litecoin is sitting down at around that $74 mark-up, and speaking about $74 quite a bit back and forth last couple of weeks. It’s sitting back on there again. It’s found support, and its holding at the moment. It’s $76.89 right now, up 5.62%. And, let’s have a look here. One hour. There’s not really any levels around, I’m just sort of walking through the lower time-frame, seeing if there’s anything there of interest to me. And, there is not.
On the Bitcoin up at $317.92, up 3.59% today, pretty messy chart, not much to speak of there.
Binance, another one that’s holding around the whole weekend range at $27.91, up 1.5%, not a great deal going on there on the Binance chart, I’m not too interested at the minute, still looking quite flat.
Tron has, despite its very large recent falls, recovered 4.71% today, to sit at $0.017. And, realistically, its another prime candidate in my view for shorting today if we get the opportunities.
Cardano is up 7.21%, the leader across the entire top ten, at $0.05, and very strong move back to the upside there, again it has been in quite a strong downtrend.
This daily is not looking fantastic. There is some divergence there, but I’m telling you right now that it is pretty much in a downtrend, but that’s about it on the daily. So again I’m gonna sit back and relax, watch the markets today.
The only market I’m really interested in, to be honest, on the lower timeframes, like the mids, is really Bitcoin. If I can get that third run up into that resistance, then yeah, I might have a stick at that, but for the time being, it’s not there, it’s not ready, it’s time to wait and see what Monday brings us.
Don’t forget to get across the tradercobb.com ladies and gentlemen, especially you, all of you, who are in other parts of the world, get across and check out what we’ve done, log back into the member’s area and enjoy the new content.
Guys, have a fantastic day and for those of you in Melbourne, Perth, Sydney, sorry, Melbourne, Perth, Adelaide, and Hobart, I look forward to seeing you on the tour. Cheers guys, 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 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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