Is It Crypto Alt Season?

By Trader Cobb -

Good day guys. Just a quick sound check, just making sure you can hear me loud and clear before I start. If you can please make sure you send me a message that you can hear me loud and clear. Okay sounds like you can hear me, all good, fantastic. Well let me just jump across to the charts.

Wanted to walk you through what I’m seeing in the market at the moment because we have seen a little bit of a shift recently and I wanted to bring that to your attention as to what I’m actually looking at. I was hoping to see a higher low set around here, rejecting 10,000 a couple of times and also coinciding with that 61.8 fib. Now I wasn’t looking to buy around here at all. That wasn’t my objective whatsoever.

I wanna see a push on and break up through this level. Actually it’s basically 11,000 I wanna see out of the way but as we have pulled back yet again here, a push up through this region here, which set a higher low and a higher leading into 11,000. Now I come down have a look at the four there, You’ll actually see it’s quite a mess, I was actually looking quite closely at the XBT USD, this resistance level here hoping to see a higher low here and a push up for a third test of resistance and of course then I could be, you know, potentially in the market for a breakout, Bitcoin breakout trade long.

Now because it did drive lower, and we saw this big, you know, whatever you wanna call that relative move to you know, Bitcoin, just pretty ugly. I’m not interested in trading Bitcoin right now, but I’ll tell you what I have noted is that as Bitcoin has sort of floundered, gone sideways and floundered, a lot of the other alts have actually started to get some pretty damn nice chart structure. Now for those of you who follow the TraderCobb crypto podcast and who are on my free newsletter each week, you’ll have heard me talk about theory we have higher low, higher high, pulling back, potential high low into it broke this point, we did break that.

And we’ve seen a very nice move, since moving averages are in the correct order on the daily. And as I go to the 12 hour you’ll note, beautiful move, really good trend. Very nice simplicity. As I go lower again, you’ll see the same thing across all these timeframes. And there was a bit of a cradle in here, not the smallest of candles, but it did move. And 200 was the point of which I suggested that we might actually pull back a little bit from. Now, just because it was a round number basically. So yeah, it’s a very nice looking chart and a chart that I am indeed very open to trade, running in this current trend. I really like to look of Ethereum against the US dollar.

Before I go any further actually, let me just remind myself of what I had to say. We’re looking to go to a couple of different parts of the world. So I know that we do have a global audience, we’re looking at Malta, we’re looking at Singapore, and we’re looking at London before the year is out. So if any of you guys are in that area and would love to come along, we’d just love to see who would be interested. So if you can just type into the comments whether you’re interested in any of those particular areas, Singapore, London, and Malta, we’d love to know because we are looking at the option of doing that.

Please put in the comments if you would like to know more about that, please let us know. Our question is, is Ethereum good for long term 2021? I don’t know; I just trade. I’m not looking at anything beyond that. I just look at the charts and trade what I see, and that’s about it. So again, a theorem really nice chart structure here. Higher low, higher high. Only is subsequently a very small higher high.

Ethereum

Pullback higher low and that a very nice drive through. So Ethereum is my pick at the moment as far as chart structure goes. And again, evident here on the four hour. On the EOS, again, it kind of led the charge. Tested down at this $3 or roughly $3 mark the old resistance became support. Higher low, higher high, pullback in, another higher high here. So again a nice alt to that is moving against the US dollar and trending quite nicely on that daily.

EOS

The only thing with EOS right now is that I was actually looking to see if I could get a breakout level through here last week. It’s no longer valid. It’s just a bit caught up at the moment. I’d like to either see it pullback deeper on the higher time frame, or actually preferably pushed through this little consolidation then look for opportunities. So EOS another one where the daily trend is in an uptrend.

Keeping my Bitcoin is not. Ethereum is; EOS also is. Still up very average very ugly as it has been for quite some time. You’ll notice in a very slow grinding downtrend without too much going on this, there’s not much to speak of. XRP is what I am looking at here. Is again will note out of the top 10, Ethereum, EOS still or nothing. XRP higher low, but one higher low equal high. Higher low, pushing up into a higher high. Now I know it’s dipped a bit below that region right now.

And I mean, it’s arguable about where exactly that support and resistance is. It’s not obvious; it’s not clear. It’s in and around this region, okay. But I do like the fact that we have pushed to a higher high. Just depends on what happens next. And from my point of view, with this lower high and lower low on the four hour, there’s nothing tradable on the fall. But as I work my way lower, you’ll actually note here that I do have a higher low and a higher high on the one hour.

Also in and around that old level, you’ll see that there’s a 50% and 38.2. Now I’m not I didn’t raise an order here. I’m not currently long. I’ve just drawn those fibs in to see how price reacts. I’d love to see it reject here and push on and give me opportunities to trade. I’m very patient as to what I’m waiting for, and I’d like to see it just steady a little bit. They’re very big candles at the moment. I’m not too keen on those big candles, but once again just pointing back to the sort of reason for this video is again there’s an alt that has a higher low and a higher high.

Litecoin

So out of the top files out of the file that we’ve gone through so far, Bitcoin no, Ethereum uptrend, EOS uptrend. Stellar ugly, XRP uptrend. On to Litecoin, and again, higher low, higher high, pullback in, another higher high. I’m interested in Litecoin simply because it’s pushed up above this region through here and it’s closed above for the first time. Looking to see if we can get the continuation on the four hour and also higher.

But again, the chart structure is not great just yet. But it only takes a day or two for the charts to actually get really good. And to see some opportunities for us to trade in that region following those checklist-based trading strategies. So again, higher high, higher low. Litecoin is in an uptrend. Bitcoin Cash same thing higher low, higher high, and I’m ignoring this big spike I’m not quite sure what caused that.

Higher low here. I want to see it break this region 314. If we can break that region of 314, well you’ll see here, as you can see through here, it is consolidating slowly grinding higher, but if it can clear out of that and get going, I’d be very very interested to see if we can get some trading trades in there as well Binance against Tether look, it’s got to be said it’s a very ugly looking chart. I’m not really too interested in this at all, no great chart structure, not very interested in that. Tron, another one, is just tapping on the higher low. Hasn’t broke to a new higher high yet, maybe by a little tiny bit here.

But if it pushes through, it will have that consensus that we have that higher low and higher high and therefore the daily will be in an uptrend. Cardano, another one in that top 10, very similar here to Tron. But it has just tapped through higher low one, higher higher from this one, only very slightly, but if we can see a continuation of this move, it’ll be down to this lower timeframes, like a four, eight, 12, that sort of thing that will be looking for opportunities.

Not so much right now. It’s a little bit funny. It’s a little bit disorganized, as is Tron, as is Bitcoin cash. But again, there is that possibility of that trend reversal and continuation. And BSV, in all honesty, it’s probably the most bearish looking of a lot. Considering we are in a downtrend, it’s back in that cradle zone. I’m not jumping out of my skin to go short here. Don’t get me wrong. It’s just that it is looking more bearish than the rest of them.

Now, of course, you can go into a scan against BTC and also see what is in a trend there. Now we have margin opportunities and also non-margin opportunities with those BTC pairs. So it’s a good opportunity to go out there, have a look at what the market is telling us. But the moment Ethereum is the strongest chart out there within that top 10, and it’s the one that I’m watching the closest for opportunities to trade.

Now of course if you want to learn more about what we do, the best thing to do is get across to the free newsletter that we have going out each week. Tradercobb.com, you’ll find it there. And of course, like I said, if you’re in London, Malta, or Singapore, or would like to come to an event of either of these different cities, please do comment and let us know. Have a great evening or morning depending on where you are in the world, and I’ll speak to you again very soon. Bye for now.

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