5-10-2019 IOST Chart Looking Better Than Ever On All Levels

NO MATTER HOW YOU SLICE IT, THIS LOOKS GREAT…

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I haven’t seen IOST chart out like this in over a year. In fact, I haven’t seen any of the alts look so good on all levels of the chart. If I had to make an educated guess, I would say that IOST is positioned quite well for the altcoin run in 2019.

I’ve been sitting on this coin since first buying a bag in 2017, before the historic BTC run to $19,000. I watched IOST spike, and fall tremendously in the bear market in 2018 and through the present time. I put IOST on the shelf, and have not thought much about it since then. But yesterday I happened to give a closer look to the price action, and this is what I observed.

For starters, let’s look at the 1-year price line. Coming down from resulting spikes during the fall from the all-time high, IOST settled into a fairly quiet period of accumulation.

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The price line remained flat for better than 6 months. Then the volume spike came out of nowhere, and we wee the classic “bump” in price. This is the first clue that I look for that must precede a new bull market. Very low volume followed by a buying frenzy, bump up in price line, and a correction to levels above the accumulation base.

Moving right along, let’s zoom in closer and see what IOST looks like on the 3-month price line chart. What we see here is a definite overall trend to the positive, following the correction that came after the volume and price spike.

This is exactly what we want to see pre-bull run. If the price had corrected to a point at or below the accumulation base, I would have called this a false alarm. But there is a consistent, definite overall uptrend shown by the dashed yellow line that we can call an ascending base.

It’s even nicer to see that ending spike bouncing off of the ascending baseline. It will be a key determining factor on whether or not IOST can continue this trend. If the price line does not violate that base line, we could end up seeing a massive ascending triangle, or “pennant” formation. It’s gonna be party time if that’s what is in the cards.


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Let’s zoom in even further and see what the 1-month price action shows us. For half of the month, we’ve been on that nice overall ascending trend line, ending with the bump of volume on the end of the 3-month chart that we can see a little bit closer.

Momentum up on the monthly compliments the positive momentum on the 3-month and 1-year price lines quite nicely, and you rarely ever see this.

I was so pleasantly surprised to see such a nice continuation of the evidence supporting a bullish pre-run, if that’s even a word. Some people would rather call this the “consolidation phase”, where the hike in volume comes along with a higher trading range. This chart definitely supports that assessment.

But well pound it down even closer, and see if the 7-day chart still paints a bullish trend.


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The 7-day price line chart is where I really start to pay attention for helping on buying and selling points. It’s really important to know if you’re at a reversal point, or still trading in an upward or downward channel before you decide to jump in and buy, or sell. Looking at the IOST 7-day chart, it’s still looking like this token is in play.

You’ve still got a clear view of that ascending baseline with a consistent trading range above it, ending on a nice note. And the volume bars coincide well with the price peaks. That’s nice.

There’s nothing worse than seeing a coin go on a run on little to no volume. That smacks of manipulation. But this chart looks like it makes sense, with the volume to price relationship.

If I wanted to buy in, or grab a few more bags of this coin, I’m looking for a swing point off the top of the recent peak with a target down on the yellow ascending baseline. Of course it’s never a guarantee for things to work out perfectly, but that’s the best way you can go about it when you’re trying to come in with the most leverage.

So let’s zoom in even further, and see how it looked for the day on the 24-hour chart, and then zone in to the 1-hour chart!

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Okay, this is a gorgeous 1-day price line. Zooming in on this 24-hour view, the price action is equally impressive, bouncing along the ascending trend line. When we see a 24-hour chart like this, it makes it super easy to find a buying point. It just doesn’t get any better.

The volume bars still coincide nicely with the price peaks, and the corrections find firm support along the base line without losing ground. That’s very attractive.

Whenever you zoom in and find a sloppy chart with erratic action that doesn’t obey any trend lines, it makes it hard to settle on buying and selling points.

Taking it all the way in to the 1-hour price chart, I was shocked to see yet another beautiful work of art that would make child’s play of buying in. You’ve got a trend line that is easily depicted, and volume bars that match the surges in price. And it ends on a bullish note!

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I would absolutely love it if I could find cryptos with price action charts that look like this, where it paints a clear picture all the way from the 1-year chart down to the 24-hour and even 1-hour charts. But sadly, this is a rare occurrence. I don’t know if I’ll ever even see anything like this again, so it was fun to document it for future reference.

This is what the crypto trader or HODLr has to keep their eyes peeled for when on the hunt for grabbing coins with a potentially explosive future. The charts can be very telling, and these are the patterns I watch out for.

The way I see it, you have to play it as if you could lose 100% of your money, while looking for the evidence that might give you the chance to grab something at an extremely low price that might take a moon shot in the future. That way you minimize risk, and maximize your slim chances of striking it rich.

That’s what makes crypto prospecting fun and exciting!

Carlton Flowers
The CryptoPro





4-19-2019 Is Bitcoin In a Bull Market, Or Is Correction Coming?

BTC REACHING CRITICAL DECISION POINT WITHIN A WEEK

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The current BTC "mini run" is the talk of the cryptocurrency market, and it's causing quite a frenzy. People are calling this an outright bull market and beginning of the next big run. Or is it?

I'm not one to ever believe the masses. When 90% of all prognosticators are yelling "run", human behavior and the odds will usually guarantee the opposite happening, especially when a shift from bear market to bull market hasn't been clearly determined.

It's been a couple of weeks since the big dip and the huge pump, and BTC continues an overall steady climb. I don't have a lot of confidence that this is sustainable. I would feel a lot more comfortable if a solid consolidation took place first, rather than the obvious artificial pump that occurred 2 weeks ago.

The huge spike move wreaks of "pump and dump" to me, a move by insiders or whales to lure people into a frenzy that could leave them with significant losses once the buying pressure and volume goes down.

I could be completely wrong, but this is not a time that I will be buying BTC. As the saying goes, "what goes up must come down", and I believe this applies to artificial pumps. I'm going to sit and wait it out, even if it means I miss the absolute bottom.

Investing into crypto is super risky business, so it is best to play it safe and assume the worst. I'm waiting for the possibility of BTC correcting to $4200 before I buy. I also am fully aware that $3800 and even $2500 are possibilities for a bottom point before the next bull run hits.

While I don't call the current conditions a clear "bull market", I do believe that we are in the transition period, or we are close to it. So I am positioning myself for a possible repeat of November 2017 this winter.

Until then, remember that it's best not to play this market at all, and if you do, only invest what you're willing to lose. And don't take anyone's advice. Do your own due diligence!

Carlton Flowers
CryptoPro

4-10-2019 BTC Momentum & Correctioon Prediction

How Long Will The BTC Run Extend Before The Drop?

It’s been over a year since my last Coin Watch update, but the season is upon us, and it’s time to get back into the crypto market with fresh technical analysis! The current action on BTC prompted me to throw together this first return post, so I hope you enjoy it and chime in with your thoughts in the comments section.

After calling the BTC low of 3100, I haven’t been as lucky calling out the action since that dip. I wasn’t convinced that the bear market was over, but now I am. The current BTC move is definitely an indication that the bear market is over.

I thought we would hit a double bottom and revisit 3100 BTC or lower, but that might not happen. The massive pump and extended rise has thrown a wrench in that scenario. But while we are on this massive unprecedented run coming out of the bear market, we can guarantee that we’ll see a hard correction within the next week or two.

Let’s take a closer look at the charts, and see what we can decipher….

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It all started with the massive volume which pumped the price on that humongous green candle. Since then, we have been trading solidly along an ascending line. Now the question everyone wants to know is how long we will continue this trend before the correction comes.

It is possible that BTC could reach 6000 before correcting, but I don’t believe it will sustain itself for the time needed to reach that target. It will take around 2 weeks to hit 6000, unless we get another whale buying in that creates a massive spike.

But if we continue with what we see in this chart, I think it will reverse trend before 6000. Looking at the stochastic, we have been on the rise, as indicated by the green arrow. We’re not going to stay above the 80% line for more than a week or two without correcting. Sure, the stochastic can drop and only cause a slight drop in price, but not after staying in the “overbought” condition for an extended time period.

The next thing that draws my attention is the positioning of the candles in relation to the 5-Day exponential moving average line, and the 21-day EMA line. A bullish trend is confirmed by the faster 5-Day EMA riding high above the 21-Day line, as we see here. We typically see a peak in a short-term trend when the trading candles are floating high ABOVE the 5-Day line while it is also riding high above the 21-Day line. That gap is very telling. It’s going to close before long.

The volume spike set off the conditions that created the gap between the EMA lines, and sent the candles flying high above both. But the volume is settling down, as you can see. That’s another indication that the correction is near. Now let’s zoom in…

4-10-2019 BTC 2.png

Here we see a big divergence taking place. The stochastic is generally trending downward. The volume is settling down, trending downward. But the price is steadily climbing, and staying above the fast EMA line. That doesn’t make a lot of sense. How long can this keep up?

I’m hearing some of the expert prognosticators saying we could continue this weird little trend for 3 to 4 weeks. While that is entirely possible, I am leaning towards capitulation of this mini trend within a week and a half. I’ll be shocked if we get anything in excess of 2 more weekly green candles.

My prediction for the correction is 3800. That’s worst-case. Most people are calling for 4200. Prior trend lines and resistance levels support either of these coming to fruition. There’s no coincidence to the fact that reversals happen on old resistance/breakout levels.

Once the correction finishes, the gates will be wide open and it will be the Running of the Bulls through the end of the year. I don’t think we will return to these levels in our lifetime, barring some big major calamity or alien invasion.

I’ll keep my eyes on the indicators and report back soon. Do your due dilligence, and remember that this is not trading advice, and I am NOT a financial professional. I’m just a plain ole regular CryptoPro who happens to be better than the great majority of people.

Carlton Flowers
Bitcoin Swami


11-20-2018 BAT Basic Attention Token Approaches Target Price

BASIC ATTENTION TOKEN TARGET OF $0.10 IN RANGE

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First of all, I love the idea behind Basic Attention Token (BAT). This is a token that will be used to reward viewers for watching advertising content. Rather than paying for traditional means of online advertising, Basic Attention Token creates a more efficient user-targeted approach that makes a lot more sense than traditional social media ads.

This is a great looking chart. It couldn’t be any better than this. We are in the midst of a good bear market, and we’ve seen 3 declining peaks since the December 2017 run. Looking at the baseline for BAT which also appears to be descending, a safe target that I may chose to jump on this crypto could be $0.10.

I think that’s as good of a guess as any. The reason being, this token has real utility. Lots of thought was put into it, and I would actually consider using it as a marketing tool. So that gives me more confidence that this token may not go to zero and fizzle out one day.

As far as the projected low, there’s no telling how far this market will go before it bottoms out. Ten cents might be the bottom. Or it could be a tenth of one cent. Nobody really knows. But judging from the previous run, I would be happy to take a gamble at ten cents and then HODL until I feel like the bull market is in full effect.

Check out the background on this one and I think you’ll like what you see. They are listed on Coinbase, which means they must have a fair amount of fundamental credibility. Coinbase is very slow to add coins, and they are making history by being one of the lucky few to be added after the Big Three.

If I pull the trigger, I will report back and track my progress. So, let’s cross our fingers and hope for a BAT MOON!

Carlton Flowers
The CryptoPro

Disclaimer - I’m not an investment advisor, so don’t follow my advice. Contact a broker for financial and investment advice. All posts made are for information and entertainment purposes only.

2-19-2018 IOST Pennant Formation - Buying Opportunity

IOST GIVING HINTS OF NEXT BREAKOUT

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February 19th 2018 - IOST, traded on the Binance platform, has been making moves. We had a series of triangle formations forming over the past week that have been small, but stair-stepped in an upward trend that culminated with a nice breakout.

Looking at the 2-hour candlesticks, we now see a definite pennant formation that appears to be focusing in on a breakout point. The volume has been settling down since the previous breakout, which is very indicative of this coin moving to the next level.

Take special note of the volume spike during the beginning of the larger current triangle formation. The volume has settled since then, and it looks like a quiet consolidation is taking place as it settles into a new higher base at 0.05 price per coin.

The impending breakout move could push IOST back to the 0.09 support level. This is a great entry point to jump on board during what I truly believe is a bull market. The crypto market looks to be rebounding, and if this is continues, we should see several formations and lots of action for IOST.

My goal is to sell at the next peak, and then wait for the correction and consolidation to complete and then retake my position. The next move after 0.09 could possibly be 0.15. I will be looking at the charts after this next action point takes place, and we'll see if it looks like it is possible. Keep your eyes peeled!

Carlton Flowers
CryptoPro Trader Supreme

DISCLAIMER: I am not a financial advisor. Do not buy any cryptocurrency with money you cannot afford to lose. This post is for information and entertainment purposes only. Invest responsibly.

 

2-9-2018 XVG Pennant - Breakout?

XVG PENNANT FORMATION IS VERY TELLING

2-19-18 XVG.PNG

Watch out for XVG in the coming days. On the 1-hour candles chart, we see a sloppy pennant formation. This might not be an accurate depiction of the final flag formation, but it's close enough to know that there's a breakout on the horizon.

There's an ascending baseline when you connect the bottoms. This is called "higher lows", and is indicative of a bullish formation. There is a chance that the breakout could be in the negative, but with the overall market looking the way it is, I think this one will break out to the next level and start an entire new formation.

Watch out for the volume, and then watch for the 5-day EMA to get wild and crazy. When the 5-day EMA crosses over the 34-day, we can confirm that the breakout is the start of a new bullish channel.

Cryptocurrency Coin Watch - The Launch!

COIN WATCH MICRO BLOG - BACK IN ACTION

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Announcement! I am back into the technical analysis trading game! Back in 2013, I got back into penny stocks and started the "Stock Watcher" micro blog for trading penny stocks that were in play. But I got super busy with my businesses, and had to step away from it.

In 2017, I discovered the cryptocurrency market, and how similar it is to the OTCBB and trading penny stocks. The great thing is, just about all of the same technical indicators and chart patterns work for crytpo coins just like they did for the penny stocks.

I've decided to re-launch the mini blog and rename it to the "Coin Watch" blog. I'll be posting my trading ideas and chart updates to help those of you who trade cryptocurrencies to take advantage of this wild market.

I will still give general updates about the current state of the market over on the main crypto mini blog, but this will be for those of you who want to learn more about active trading. It goes without saying, I am NOT a financial advisor, and trading on the cryptocurrency market is EXTREMELY risky. The market is very volatile, so if you don't like wild roller coaster rides, think twice before you ever hit that "buy" button based on one of my recommendations.

Don't forget about the Crypto Resource Page with all of the links to my favorite cryptocurrency resources. I will keep that updated as time goes on.

Stay tuned and please post your comments and questions!

Carlton Flowers
CrytpoPro Supreme

PSWS Tech Update For 4-18-13

PSWS FORMING SECOND FLAG FORMATION

We might be getting close to positive breakout number 2 for PSWS in a few days. This is a rough sketch of the new flag.

It might happen before the apex that I'm predicting here, but it should happen and then continue on another run.

This stock remains very active and could be a great short-term play.

 

SFOR Tech Indicators For 4-18-13

SFOR POISED FOR POSSIBLE BREAKOUT

I picked up SFOR recently. I don't know much about this stock at all, other than the technical indicators. There's a lot of volatility on this stock. It's definitely "alive" and in play.

There is a potential breakout coming at the apex I have indicated by the green lines. There could be a few more oscillations on this over the next few days before it breaks out. Depending on what the MACD and stochastics tell us, it could break out for the positive or take a dive.

I'll be keeping close watch on this and we'll check back to see if this breakout prediction comes to pass.

 

PSWS Tech Indicators 4-17-13

PSWS - A CLOSER LOOK AT THE CURRENT FLAG FORMATION

PSWS looks like it is forming a solid flag formation with a base that is easily predictable.

The MACD is still downtrending and wide open. Once the trend lines cross and both head upward, it could be a good point to jump in.

It looks like a new base will form somewhere on the yellow highlight that I have drawin in. Once it lands on that base, if all the indicators continue this trend, we should see the next big breakout and the start of a new flag formation.

Depending on whether or not this is a "real" company with legitimate news, it might be one to hold until the end of several flag formations.

 

PSWS Tech Analysis for 4-16-13

PSWS IS VOLATILE! UPTREND IN PROGRESS

PSWS is probably my favorite pick at the moment.

It has a fantastic looking chart. This almost makes me believe that "penny stock season" is about to come back.

I'm seeing a second flag formation coming along nicely. The first breakout apex occurred at 0.01 share price. This looks like a classic technical move. I am betting this stock will remain volatile for a while.

I'm predicting a correction back towards the 0.01 to 0.015 level, and then another bullish breakout. The Stochastic has already crossed over, indicating the correction. The MACD is still bullish, but the lines are about to cross. They should follow the fast stochastic. Keep your eyes on the MACD for the next crossover point. This should happen as insiders start loading their wagons again.

 

PBCW Tech Analysis for 4-16-13

PBCW TECH ANALYSIS - IT'S COMING ON SOON

PBCW has my attention. The OBV indicates heavy accumulation and activity. Right now it is in a downtrend, which is good. This means there will be enough time to possibly jump on this before the next run.

The stock is very volatile, and the MACD overall is looking like we are at the start of an uptrend. The Stochastic indicator right now tells us it is not yet bottomed out for the current trend.

Once it bottoms out, I would take a good hard look at it once the MACD returns to a positive trend.

Something is definitely going to happen with this stock in the near future. Not sure when or how hard it will be, but it will probably continue a rapid rise/fall period.

I'll be looking for a flag formation on this, and for the Bollinger Bands to tighten back up. If another accumulation occurs, it could indicate a positive breakout.

 

LQMT Tech Indicators for 4-16-13

LQMT TECH ANALYSIS - POSSIBLE BULLISH MOVE COMING

LQMT is forming a pennant or "flag" formation. There could be a breakout, but not quite yet to be determined is the direction.

The OBV is still looking like it is being sold, but the insiders are accumulating shares. The company seems to be pumping out news stories, so there could be a buildup.

The MACD is leveling off, getting flat. Once it passes the zero line and accumulation goes positive, I would look for a breakout.

The Stochastic looks like it is still in a decline, but once there is a crossover it could indicate a turnaround.

It might be a month or so. Definitely worth watching as this is an active volatile stock.