Cryptocurrencies on January 31, 2018: outlook
*I don’t trade cryptocurrencies. The best strategy for trading a crypto bubble is a classic trend following strategy.
Here’s my outlook for various cryptocurrencies based on the aforementioned strategy.
Discretionary outlook based on charts
- Dash, Bitcoin Cash, IOTA, and Litecoin are all on the verge of breaking down.
2:09 pm. Dash, Bitcoin Cash, IOTA, and Litecoin are all on the verge of breaking down.
Charts for these alt-coins all look the same:
- Lower highs, lower lows.
- Consolidating on a multi-day support level with smaller and smaller bounces.
These are bearish patterns. Trend followers should not go long right now.
Read Cryptocurrencies in January 30, 2018