Trusting Your Gut as a Trader is Tough

When it comes to technical analysis and trading the idea of “trusting your gut” actually goes against all the rules.
Indicators and Patterns
Generally decisions are determined by the information a price chart and the indicators are giving you.  Yes, there is interpretation in that, but usually you don’t go on a feeling.
However, maybe that “gut feeling” is something that is developed after many years of actively investing.
I get that gut feeling at times and it’s usually goes against everything that the chart is telling me.
The chart of litecoin in this post is an example.  My gut was telling me to sell

The Price of Steem Has Me Steaming

So it seems steem is back down into the lower range and granted, the title to this post is a little aggressive as I’m not all that upset, maybe just disappointed in the price action on steem.
Back to the basement?
If you look at the daily chart of steem in this post you will see price has broken below that 40 cent area which was of noticeable reference.
We know see it flirting with the 35 cent area, which I mentioned on the scaredycat investor show this past tuesday was especially important as a close below there really wiped out any hope

Litecoin Testing Support – Is it time to buy?

Litecoin had been outperforming most cryptos for a couple months.  After it’s nice little run we got some backing and filling as expected and now find price at a key support level.
Foundation of the next move or something worse?
With Bitcoin pushing higher today it’s easy to get optimistic about litecoin moving too.  However, lets look at the chart within this post to see exactly what is going on so we can make informed decisions.
Support offering a good risk-reward
As you can see price is sitting right at the 75 area support level.  This was a key support level that held a

The ScaredyCat Investor Show Chats with Trader and TIMM Contributor Rolland Thomas

On Tuesday at 4pm EDT (8pm UTC) I will air my interview with veteran trader and top TIMM contributor – Mr. Rolland Thomas!
Rolland trades crypto, forex and stocks using a similar principle for both – supply and demand zones!
Hear about this along with general outlooks on markets and cryptos.
Listen here:
Hear it on discord: https://discord.gg/ZvwASjs
Join audience chat: https://discord.gg/77MCBer
Or stream on the site: http://mspwaves.com/home/listen/

Bitcoin: Is it at Risk of a Double Top?

Looking at the bitcoin chart I find myself wondering – are we about to double top?
Meager Rise to The Prior Top
If you look at the daily chart of bitcoin shown in this post you can see after bitcoin made that big move higher we got a small pullback, which is perfectly normal, followed by some consolidation before price started to slowly grind higher on light volume.
Currently price is right about where it topped out, well that is until it pulled back a little today.  Essentially price flat lined the past 48 hours at this level.
I’m left wondering if it will

Injecting a little realism // Lets not make crypto into a fantasy world.

Image result for fantasy world

Im someone that considers himself a realist. And that is something that translates into crypto for me. The thing about being a realist in cryptocurrencies is that you many times are left on the sidelines of the discussions.
The crypto space is fueled by hype which leads to unrealistic expectations and extremely skewed views of the future.
Many people here are so subscribed to the extreme ideas brought on by the very strong libertarian community in crypto that they get completely lost in what is essentially a fantasy world of their own creation.
A colorful way to say it:

They are drinking the kool-aid.

This ofc happens in various degrees but it happens nonetheless.

Now you might think that im FUDing here or you can use some other way to describe my words but im really not. Im just trying to say, to the folks that might run across this post that i think that being realistic keeps you safe and should be a preferred path to take. I know that being realistic doesnt drive the price up, but on the other hand it does keep you safe when prices go down.

All the extremist ideas about the potential of decentralization, the ideas of beating the banks, of dissolving governments because of cryptocurrencies are for most part fairy tales that are extremely unlikely to happen.
The people that yell:

REVOLUTION!!!!

the loudest are the people you should be skeptical of the most.

Crypto will not cure cancer, take people to Mars, bring about world peace, eliminate all inequality in the world, stop racism….

Cryptocurrencies like STEEM or WLS are a tool for you to use to empower yourself and others. What they can do is offer you the opportunities you might not have had otherwise.
I hope every one of you manages to make most of them..

Just a few thoughts as always.
Ill see you guys around. 😉

The Crypto Market Cap Pullback After an Obvious Hitting Resistance Level

Sometimes you just need to look at the broader picture.  Yes, it would be nice to see recent crypto rally continue, but getting a pullback was pretty obvious once you look at the total crypto market cap chart.
Major Resistance Stops the Rally for Now
Looking at the chart in this post you can see market cap rallied up to that prior support level only to hit it’s head a few times before backing off.
The good news is the rejection wasn’t hard and fast so even if we were to sell off some more I like the price action still.
Market cap failing

Cryptos Look to be Bouncing Off Support

Though it’s still a bit early, many coins look like they are bouncing off the support levels they pulled back to the past week.
Let’s take a quick look at a couple of them…
Litecoin Looking Orderly

Looking at the chart of litecoin in the daily timeframe you see it pulled back to the first level support target, which was the prior resistance.
This is a confirmation of the break and bodes well.  However, I will feel alot better about it if price can push to the previous top at $100.
In the end – if it just consolidates sideways that would still be fine

Steem Price Now Testing the Support Level!

Here we are testing support, just a week ago we were contemplating if steem could push through 60 cents.  Oh what a week can bring.
Bouncing Back and Forth in a Range
Well, atleast that is what I hope the price is doing.  After failing to breach 60 cents on two occasions since we leveled up out of that bottom range; steem finds itself back down to that old resistance point around 40 cents.
Luckily that now represents a support level and hopefully it will remain that way.  Either way it is not fun to be testing support as only two things can

Litecoin Price Analysis – Let the Retest Commence!

Here it is folks, it was somewhat expected and is now in the midst of occurring.  I’m ore than okay with this as I like orderly price progression.
Litecoin Testing Prior Resistance as Support
Looking at the chart we saw litecoin smash through the $74-75 level and push almost to $100.  However, odds were we’d see a pullback and maybe even a retest of this level, especially considering how long it had been since we were at these levels.
So that is what’s now taking place.  Big red candle that closed today and so far the new daily candle is red too.
Price got