The ALT Story 24 hours later...

in altcoins •  8 months ago

So I'm watching the market after Bitcoin's recent correction, which is almost certainly driven to huge profits on the very first Bitcoin Futures contracts for many with a ton of Bitcoin to burn to get the prices they wanted. The market turned on a dime at the time of contract expiration, but the real question is where is the ALT market going to go from here? With CME's first contract coming up for expiration next Friday, it appears the entire market was essentially put on pause after a 15% to 25% climb across the board.

Here's what I'm seeing in my charts.


BTC is showing bearish signs for the short-term and probably hovering here for at least the next week, depending on where the sharks are vested in their futures contracts:

BTC/USD


APPC is consolidating tightly. Since the flag pole is down prior to pennant, likely to break downwards.
APPC/BTC


ADA keeps bumping it's resistance line and there's a lot of buy/sell volume at the resistance
ADA/BTC


ETH entrenched in a sideways trading channel
ETH/BTC


FUN broke it's downtrend and climbing strongly again
FUN/BTC


GRS can't shake loose of it's down trend channel
GRS/BTC


NEO is now trading sideways and consolidating after strong growth recently.
NEO/BTC


POWR has climbed back into it's wedge and also back onto it's longer term trend line.
POWR/BTC


TRX (TRON) didn't quite make it back up into it's previous sideways trading channel and showing bearish signs for short term.
TRX/BTC


EOS is the new kid on the block. Well, my block, anyhow. Watching this one for a bit as it's got some legs to it's hype.
EOS/BTC


ZCash seems to me to be trading rather thinly at current levels. I suspect it will fall back down 3700 sats
ZEC/BTC

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Thanks for sharing your insight. I hope you'll continue publishing analyzed charts :D . Keep it flowing :)

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You're welcome. I'm glad you liked the analyses. If I can improve any aspect of these charts and commentary, just let me know.

Thanks for the technicals , there are always supports and ceilings until there are not. Meaning the technicals do help until the prices break through either way.

Thank you for the technical analysis. I hope you'll make it a regular.

I'm wondering if the expiration of the [futures] contracts also have an influence on ICOs tokens sale.