Trade Ideas & Technical Chart Analysis

BTC- Sideways Sideways Sideways: Bitcoin has been moving sideways within a trading range of 7800-8100 the past few days.  We still remain bearish as the overall trend is down. Price is still currently trading below the 8k resistance level. Traders should watch for a possible bounce over 8k for a retrace back to the 8200-8450 levels. We will be monitoring BTC closely to see if it gains enough momentum to break upward beyond 8k again.

 

BTC

IOST/BTC: Higher Daily Closes

IOST has been trending up, closing higher above the previous day lows for the past 11 days.  We are looking to make a play on a pullback to support. The 4h chart detail the stoploss and risk.

ALTcoin IOST

 

IOST

Altcoins: Most altcoins are still heavily correlated to bitcoin, making a bearish bitcoin bad for the altcoin market. We should have enough time to ride our current altcoin positions for a little while longer, especially if we continue this sideways bitcoin/bounce the rest of the week.

 

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