ALERT! The DXY Is Set to Explode - Down Cycle Is Nearing Completion!

TECHNICAL INDICATORS ON DXY HINT AT PENDING REVERSAL

Gang, you better be ready for this. It looks like the downtrend cycle for the DXY is just about to complete on the 1-day chart. The stochastic is nearing the bottom. The MACD histogram is bottomed out. The oscillators are headed to a possible bottom and will reverse. With the lower Fed rate announced, there's no reason to believe that the DXY won't explode out of this and wreck Bitcoin. Something to definitely consider, while everyone is being overly bullish.

I’ll be watching this closely, and will have a video update coming on Monday with further analysis!

Carlton Flowers
The CryptoPro

DNT District0X Continues Consolidation Sidebanding - Breakout Soon?

DNT Stays Above Base, Coils Up for Next Move

District0X has been side-banding for almost a month after the big breakout to 0.08. With trading activity staying between the slim channel centered around the POC price of $0.05, we can expect a breakout the longer the consolidation continues.

Right now there are two volume nodes appearing slightly above and below the POC price that could be possible landing spots, the lower coming into play if DNT violates the base just below five cents. With the stochastic looking like it has finished a peak and currently falling, a correction might come into play if BTC has a breakout surge or finally completes its own correction cycle.

The On-Balance Volume shows a lot of distribution since the breakout with an overall steady decline that has only recently leveled out. This is one bit of evidence that might support a final correction move before DNT takes the next leg up. But anything is possible, so we have to watch the price action and see if it can break the resistance at $0.063 before we can be sure of a breakout to the up side.

Carlton Flowers
The CryptoPro

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XRP Short Term Outlook - Double Top Confirmed?

XRP Completes Double Top With Lower High

XRP starts the month of December 2020 with a confirmation of a lower high indicated by point 2 on the chart. Note that the price dipped down to the 50-day EMA, previously wicking down below the line. This could be indicative of a further drop in price.

The stochastic looks weak, with downward momentum that could be the beginning of the correction cycle. The On-Balance Volume looks relatively stable, not showing any significant dumping. But we are still in the early stages of this movement, so it is not possible to to determine if a dump will be incoming.

The volume profile shows possible price targets indicated by the arrows. If downward momentum keeps up, these price targets could get realized. Depending on what happens with BTC, further downward movement could be coming as we move into the month.

Carlton Flowers
The CryptoPro

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Litecoin Breakout Mirroring BTC Movement

LTC Major Pump Pushes Towards Previous High

“Red-Alert” on Litecoin, as we see the price pumping on a huge volume candle right along with Bitcoin. This surge has come out of nowhere, but what I find most important is the fact that LTC is following the movements of Big Brother Bitcoin, and this is a good indication of future possibilities.

Let’s take a close look at the chart this morning…

As we can see, we have a seriously strong move supported by an enormous candle that started the surge. The stochastic is absolutely bullish, giving no indication of falling out of the “overbought” zone. The On-Balance Volume is surging, indicating institutional buying happening.

I am watching very closely to see how far this pump makes it, and if LTC will continue mirroring Bitcoin. If we take out the previous high, we will have to re-evaluate my trading strategy and make adjustments. But if there is a rejection before hitting the level of the previous high, I’m looking for a nice correction that will take us back into the “Strike Zone” where I will resume accumulating Litecoin.

I’m growing more bullish on Litecoin by the minute. What I find most attractive about this project is the fact that it has the most history outside of Bitcoin in the cryptocurrency market. While we see new projects flooding the scene almost daily, risk has never been higher. There are several solid new projects that have great potential, but we are still in a super risky environment.

In order to minimize risk, and reduce the need to never take your eyes off of the price charts, I will be focusing more on Litecoin from this point on. The potential gains for LTC might not be as high as some of the other breakthrough projects that are in the spotlight, but there is definitely a lot less stress involved in trading a project that has the history of what we have here.

UPDATE! I forgot to finalize this post when it was created a day ago, but we now have confirmation of the lower-high at point 2. The movement of price is bearish, and headed towards the strike zone.

Carlton Flowers
The Crypto Pro

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OXT Price Breakout - Parabolic Move Initiated

OXT Wakes Up from Deep Sleep With Aggressive Breakout

After buying into OXT prematurely at $0.43, I am definitely one to be happy about seeing this breakout parabolic move in the midst of a market-wide bullish romp. Let’s take a look at the 4-hour chart and break down the action…

It looks like Christmas is coming early for OXT bag holders as the price has made a definitive parabolic breakout move after eclipsing the secondary support/resistance line at $0.26. Make no mistake about it, that resistance has now been crushed.

Judging from the positioning of the stochastic, which is currently just under the 80% overbought zone and headed in an upward trajectory, it looks like anything is possible as far as how high this breakout will run. After completing what appears to be a pennant formation with stochastic dips returning prices well above the Point of Control price, this looks like a classic technical breakout after a long consolidation period.

The On-Balance Volume shows strong institutional buying taking place with a major spike in the trend line. If this is actually happening on the exchanges, look for a run that has the capability of eclipsing the “preview” we got this fall.

Carlton Flowers
The Crypto Pro

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RSR 1-Week Chart Shows Incoming Correction

Overall Bullish Movement, but correction in the works?

We need to play close attention to the RSR chart in the coming days. I think a correction is coming our way. This might be the last chance to jump on the band wagon before the train leaves the station. Let’s take a look at the 1-day candle chart and look at the clues…

The first most obvious thing that jumps out at us would be the declining double top formation. We have a lower high printed at Point 2, and this coincides with the stochastic rounding off and exiting the overbought territory. With the volume cluster sitting below at the popular trading price of 0.012, I think we could be revisiting that level one more time.

The On-Balance Volume continues to look strong, showing overall accumulation going on with the institutional buyers. This is a good sign. If the OBV stays healthy during the correction, I think we are going to be in for a robust bull market season with new all-time highs coming at us faster than we can think.

If the price line continues to obey that declining resistance line, look for this correction to play out. But if we break that declining trend line, the bull run party might be starting early.

Carlton Flowers
The Crypto Pro

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SelfKey Consolidation Continues, Plus News On the Horizon Confirmed

Selfkey News Confirmed, Defi Project Rollout In Days

The rumors have been confirmed about the rollout of a defi project with the launching of the KeyFi website (http://keyfi.ai/). Although the site is apparently not completely finished, it has been confirmed that this is a project connected with the Selfkey Foundation.

As you can see on the website, the KeyFi project aims to connect to several defi platforms including Uniswap, Aave, Compound, and 1inch. They are giving instructions on how to download the Selfkey wallet and upload KYC information for a possible airdrop, but it is unclear as to whether or not US citizens will be allowed to receive the incentives offered in the airdrop.

The charts show a very steady consolidation pattern continuing, with a rising base level of support. The price is currently trading directly on the Point of Control, right at the 50-day EMA and just above the 200-day EMA. The stochastic is on a steady upward trend, also showing strength as accumulation is indicated on the OBV line.

The KeyFi site also now has a countdown clock indicating the launch of the service, with less than 2 days remaining. I would expect to see robust trading activity once the site has officially launched, and I would expect that the email subscription for updates will go live at that time.

Carlton Flowers
The Crypto Pro

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SelfKey is a project you cannot take a nap on. In the last few months, we’ve seen major price pumps in the blink of an eye. As KEY holders anticipate the possibility of a strong news release, I’ve got my eyes on the chart for clues that underscore the rumors.

Since the minor pump that took place on October the 19th, KEY has shown a very strong, but quiet period of consolidation as the base price has been creeping up ever so slowly. I think it is winding up the coil for a big breakout, or at least a mild break and rise to a higher base level.

The stochastic cycle has shown a similar coiling up action, as the peaks and lows have not returned prices that are outside of the current consolidation range. The longer this takes place, the harder the breakout could be. The break could go either way, but all indications show that a break to the up side is a greater possibility.

Take note of the OBV after the October 19th spike. We notice that the level did not go back down after the price line corrected. This is a good sign, indicating the possibility of institutional investors holding on to their bags with a tight grip. My interpretation is that something big must be on the horizon, because the majority of people are accumulating and not selling off their positions.

I’m already holding a decent bag of SelfKey, but if we do correct and break the upward trend that has been established, I’ve got a “strike zone” set just above the 2nd base level on the chart. We see small volume profile nodes hiding below the massive POC, and these would be the most probable landing points if a strong correction takes place across the alt market.

I do strongly believe that we are going to have one more correction before “alt season” hits, and that could happen when BTC peaks at $20k and starts its final correction before the continuance of the bull market. SelfKey is one of my most favorite projects, due to the strong fundamentals, use case, and price chart. Plus, I think KEY has the biggest potential for a 10X to 100X return over the next 6 to 12 months. But that is purely my opinion, and this is still a gamble.

Carlton Flowers
The Crypto Pro

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SelfKey Shows Strong Accumulation - Big Move Soon?

KEY shows quiet strength, news anticipated

SelfKey is a project you cannot take a nap on. In the last few months, we’ve seen major price pumps in the blink of an eye. As KEY holders anticipate the possibility of a strong news release, I’ve got my eyes on the chart for clues that underscore the rumors.

Since the minor pump that took place on October the 19th, KEY has shown a very strong, but quiet period of consolidation as the base price has been creeping up ever so slowly. I think it is winding up the coil for a big breakout, or at least a mild break and rise to a higher base level.

The stochastic cycle has shown a similar coiling up action, as the peaks and lows have not returned prices that are outside of the current consolidation range. The longer this takes place, the harder the breakout could be. The break could go either way, but all indications show that a break to the up side is a greater possibility.

Take note of the OBV after the October 19th spike. We notice that the level did not go back down after the price line corrected. This is a good sign, indicating the possibility of institutional investors holding on to their bags with a tight grip. My interpretation is that something big must be on the horizon, because the majority of people are accumulating and not selling off their positions.

I’m already holding a decent bag of SelfKey, but if we do correct and break the upward trend that has been established, I’ve got a “strike zone” set just above the 2nd base level on the chart. We see small volume profile nodes hiding below the massive POC, and these would be the most probable landing points if a strong correction takes place across the alt market.

I do strongly believe that we are going to have one more correction before “alt season” hits, and that could happen when BTC peaks at $20k and starts its final correction before the continuance of the bull market. SelfKey is one of my most favorite projects, due to the strong fundamentals, use case, and price chart. Plus, I think KEY has the biggest potential for a 10X to 100X return over the next 6 to 12 months. But that is purely my opinion, and this is still a gamble.

Carlton Flowers
The Crypto Pro

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DISCLAIMER

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Band Protocol - Short Term Outlook, Price Targets for Correction

BAND Struggles to Find Solid Base

BAND continues printing a consolidation pattern after rebounding from the bottom we saw in early November. The current price is trading just below the POC (point of control), which is a weak stance under the circumstances we see in the chart. Overall, Band Protocol has shown weakness while BTC rallies higher.

With certain alts continuing on to higher levels while BAND shows sideways consolidation, I think it is setting up for another drop once the alts enter a short term bearish phase. The stochastic is currently very weak, showing downward momentum that could take us into the “oversold” zone below the 20% line.

If this momentum continues, I’m looking to buy at “strike zone 1” where we see a peak node on the volume cluster. The best scenario would be a hard bounce on the 1.618 fib circle boundary and recovery towards the POC price. But if the alt market corrects hard, BAND could return to the price at volume cluster 2, which is a previous popular trading point.

The worst case scenario would be a drop down to volume cluster 3, which would bring us to “strike zone 2”. This would be my best guess for the lowest price before the alt season run. But with BAND showing as much weakness as it has, this is a dangerous proposition as far as an investment being made for the sole purpose of trading for a profit in the near future.

The OBV shows a “mild recovery”, but overall we still see distribution going on as it is very likely that large institutional investors who probably bought in the 0.30 range are still taking profits. Until this is over, it will be very hard for BAND to make another strong move upwards and establish a new base of support without the seemingly endless dumping.

Carlton Flowers
The Crypto Pro

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Litecoin Rallies - Short Term Outlook, Possible Landing Spots

LTC Back Into Play As Interest Spikes

Litecoin is back into the spotlight, getting a lot of major attention by institutional buyers and major corporations announcing their plans to integrate LTC for purchasing use. The recent spike is a good indication of more action to come, as this project has been brought back to the forefront.

The price line has been bouncing off of the 50-day EMA (orange line) for several days now, allowing for easy prediction of price targets. But with the impending BTC correction, we don’t know if the 50-day EMA will continue to be pulled up, or take a bearish slide (indicated by the dashed orange line).

The 200-day EMA continues to show a strong and steady uptrend, and could help to identify a possible bottom once the alt market goes into its bearish phase. The volume profile shows strong clusters at $59, $56, and $48. All of these represent “popular” buying and selling points by institutional buyers, and could be targets to look for when price corrects (indicated by the orange arrows at 1, 2 and 3 on the chart).

The stochastic is currently weak, showing a downward trajectory in the cycle which could be an indication that points 1 and 2 are coming next in the price movement. However, if LTC breaks the 200-day EMA, $48 is a possibility for a low point. This could be the last bargain price for picking up Litecoin before “alt season” kicks off.

The On-Balance Volume shows a mild amount of distribution, but the overall upward movement is evidence of continued consolidation of Litecoin among institutional investors. I decided to put LTC back into my portfolio after selling for a loss in 2018, once the market peaked out and started its long journey back down into the bargain basement zone.

My plan is to continue accumulating LTC with hopes to play this market correctly this time as we head into the major bull market in 2021. The strategy is to dollar-cost average, with my first target purchase in the green “strike zone” as indicated on my chart. Even though I believe the correction will go lower than this area, I’m making the first purchase here just in case the market decides to rally and continue heading higher. But if it dips, I’ll be accumulating until we see an absolute bottom with the goal of securing the best overall average purchasing price.

Carlton Flowers
The Crypto Pro

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XRP Short Term Outlook - Possible Price Targets

XRP Corrects While BTC Takes Break

The short-term outlook shows a slight decline in price while overall XRP looks more bullish than it has since the 2018 run. As the volume profile shows 3 definite clusters peaking at 0.30, 0.286, and 0.272 as indicated on the chart. These are possible price targets for the next few days as BTC takes a breather. There is always the possibility of settling back down to the current POC (point of control) price at 0.25 (red arrow).

The on-balance volume shows a lot of heavy distribution since the recent peak. Profit taking looks strong, but the OBV does appear to have settled down at the previous level which is a good thing. The stochastic is weak, and currently shows a possibility of continued downward movement.

If the next surge in Bitcoin takes it to the all-time high of $20,000, we could see a surge back towards 0.30 or higher. But it could also spark movement away from XRP and into BTC. I’m waiting and watching, taking note of when the next big correction takes place to time another buy.

Once we hit the final BTC correction, which in my opinion could happen at any time OR if and when BTC reaches $20k, I’m looking for a strong correction across the board in the alt market. Once the alts settle down from the current surge, this could be the final major correction before an “alt season” starts.

I am definitely waiting on the sidelines not placing any buy orders until we see that correction take place, although there is no guarantee that it will happen. Until it is clear, I’m taking a cautious stance to maximize my own accumulation before the next surge sets in.

Carlton Flowers
The CryptoPro

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MATIC 1-Day Chart Technical Analysis

OVERALL STRENGTH INDICATED BY IMPRESSIVE OBV

Okay folks, let’s take a look at the MATIC 1-day candlestick chart provided by TradingView this morning. I see some very positive indications on this chart of great things to come.

First off, I like the long-term accumulation shown on the OBV. This is not always 100%, but it is often accurate. What this nice rise and then steady holding line means is that institutional buyers are holding this and stacking.

Current trading price is exactly at the Point-of-Control on the D-shaped Volume Profile. A D-shape on the volume profile is indicative of a well-balanced state of trading. If a strong correction across the crypto market were to occur, 0.015 looks like a possible settling point as we see the strong bar at that price per the volume profile.

But the stochastic is poised to rise, as it is just now shooting out of the oversold zone, with a nice positive trajectory. That means the probability of a price hike is fairly high, as opposed to a dip down to previous levels. Whatever the case, the future is looking bright for this project as per the chart.

I will have to look into grabbing a bag of MATIC. If I do, you’ll get a special report on the next “I Got A Bag!” video on the YouTube channel.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

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https://www.tradingview.com/u/carltonzone/

XRP 4-hour TA Shows Possible Slide to 0.20

VOLUME PROFILE SUGGESTS MOVE TO LOWER SUPPORT LEVEL

XRP appears to be preparing to move down a notch to a lower support level, if these indicators are communicating a truthful picture. Let’s take a closer look at the 4-hour chart provided by TradingView, and break down those indicators.

The biggest clue on the chart is the stochastic. It is clearly rounding off and pivoting, looking like it’s ready to exit the overbought zone that it just barely entered, with the fast line crossing over the slow line and a downward trajectory. Volume is quieting down, which is a confirmation of downward trending.

When we look at the Volume Profile, we see that the next landing spot where heavy institutional trading has taken place is squarely at 0.20. The 0.18 to 0.21 range could be a landing spot for the next consolidation move. With a good clump of volume taking place within this range previously, this will probably act as a magnet on the price line now that we see the indications of the downward movement.

I don’t know what the extent of this correction will be, but at WORST-case, 0.15 is the next lower clump of institutional trading volume that the price line could fall to. I don’t see this as a negative event, IF it does come to fruition. With the overall overwhelming institutional consolidation going on with XRP since 2017, this would simply be another buying opportunity, in my opinion.

Time will tell! I don’t see this as a losing situation. I remain VERY bullish on XRP moving into the fall of 2020.

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

Carlton Flowers
The CryptoPro

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LOOM 4-Hour TA Update for 9-3-2020

POSSIBLE LANDING SPOTS INDICATED BY CRITICAL FIB RING

Loom is correcting right along with the majority of the alts, and we have a few clues as to what the landing point could be. Let’s look at the chart provided by TradingView with my technical analysis added.

LOOM is riding the BTC correction band wagon, and we can see a possible landing point on this chart.

While we are in the midst of this strong selling volume, LOOM has been fighting to keep the 200-day EMA as a base. But as it has already wicked below that line, it may fail.

The next possible base just happens to be the mystical 2.618 dark green fib circle ring. If momentum can slow while BTC corrects, this landing spot has a high probability.

The stochastic is weak, and indecisive as we see fluctuation going on below the 20% oversold boundary. This tells us that we aren't able to call a strong bounce at the bottom, which means the price can still dip farther.

What we will have to watch the action closely as BTC is possibly going to continue correcting as it heads towards the CME gap set in July of 2020 at $9700.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
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https://www.tradingview.com/u/carltonzone/

District0X (DNT) 4-Hour Technical Analysis

DNT HARD CORRECTION - LANDING SPOT POSSIBILITIES

District0X is experiencing the same corrective move that is playing out across the entire crypto market. My eyes are focused on two possible landing points after the correction has finalized. Let's take a look on the chart provided by TradingView.

As we can clearly see, the upward trending green base line has been broken. The price line took a small bounce on the magical 4.618 fib circle ring before going lower, and is now deciding how much time, if any, to spend while sitting on the 4.236 ring. We can see that the 200-day EMA is just below the ring, where the price is now sitting.

This is looking like the beginning of a bearish micro movement, as the price line is well below the 50-day EMA and ready to violate the 200-day EMA. From what I can see, DNT is sitting at a decision point right now. It will either gather strength and find the current 0.0133 level as the new base, or fall below to the 3.618 mystical fib circle boundary line. Such a fall would bring a price of around 0.011.

Depending on the severity of the BTC correction, this might not be the final resting place before the next leg up. DNT could correct all the way down to the lower green support line, with a price in the 0.008 to 0.009 range. This would be a tremendous buying opportunity, in my opinion. But don’t listen to me, and end up in the food line next week.

The stochastic is already in the oversold zone. But it looks to have more downward momentum, as the fast line has again crossed over the slow line, sending us back in the downward direction. The stochastic could languish down here for quite a bit of time, as we have seen the weak indecisive bobbling around at the 20% boundary line already.

If volume starts to weaken, or if big fat red volume candles start to develop, I think the 3.618 is going to have a high probability as a landing point, with medium probability of falling farther down to the primary green base line. Keep your eyes on this.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
YouTube Channel - https://www.youtube.com/channel/UCfRbpFKfYxAc9WVUZHwo1NQ
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https://www.tradingview.com/u/carltonzone/

Bitcoin (BTC) 4-Hour Technical Analysis for 9-2-2020

BTC MAKES STRONG CORRECTION AFTER RUN TO $12K

We've got some strong red candle action happening on Bitcoin as it is currently dipping down to $11,342. That's quite a correction after briefly surpassing the $12,000 mark. Let’s take a look at the indicators and price line clues on the chart provided by Tradingview.

The price line is taking a vertical dive on moderate to strong volume, just days after the 50-day EMA has crossed under the 200-day EMA. This could be a slightly bearish indication in the short-term, and confirms this bearish trading channel on the micro level.

Take note that DXY (US Dollar) is making a strong move back upward, re-establishing a position above its 200-day EMA. We don’t know how long this move will last. But we DO know that strong DXY moves tend to coincide with BTC corrections. We will keep our eyes on the DXY chart for correlation evidence.

While we are trading below both exponential moving average lines, I do see a possible stopping point at around $11,000 when the BTC price line hits the magical 3.618 fib circle ring that I have constructed on my TradingView chart. If you want the starting and ending points of this magic fib set, you can check it out on my TradingView site at the link below.

The stochastic is looking angry, with a definitive and aggressive downward move that will probably land in the oversold zone, which we have not been in for quite some time. There is a possibility that this correction could take BTC lower, and the price action after the crossing of the 3.618 magical fib circle ring will give us clues.

Watch the volume. If we get some fat red candles, or if volume just slows significantly, this would combine for quite a correction. I’m waiting to see if that CME gap in the $9,000 range will be filled, or forgotten. Time will tell.

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Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
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Blog Site - www.carltonzone.com/cryptopro
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https://www.tradingview.com/u/carltonzone/

Polkadot (DOT) 1-Hour Technical Analysis for 9-20-2020

POLKADOT PRICE LINE MAKES 2 SIGNIFICANT MOVES

Finally, a Polkadot chart that grabs my attention for a DIFFERENT reason! Usually, it’s blasting off to the next level before I can even think. But this time, it finally looks like a correction is in order. This 1-hour chart comes from the Tradingview website. Let's break it down.

We have two chart events that jump right out at us: first, the price drop below the 50-day EMA yesterday and two, the price line dropping below the 200-day EMA. This is the first time the price has dropped below the 200-day EMA since the 100:1 coin split. And it is also the first time we have seen the price drop below BOTH moving averages.

What does this mean? Usually, it spells “mild correction”. Both of the moving averages are still upward-sloping, and there’s nothing bad like a death cross going on.

The stochastic is sitting at 40%, and looks very weak. While never really dipping deep into the oversold zone, it tried 3 times to move back up but didn’t have the steam. Now if you look closely, you’ll see that on the current rise to the 40% point, the fast line has crossed over the slow line. If it stays that way, the stoch is headed back down.

With the possibility of continued downward movement or crossing into the oversold zone comes a potential price drop. But will it be significant? Thus far, we have seen only mild corrections time after time. So don’t get your hopes up if you are thinking DOT will take a strong correction below $5. You might be waiting for a long, long time.

This is just another DCA opportunity for me. I’m adding DOTS on every red candle dip until it pops off another run. It’s worth sacrificing a cheeseburger and large french fries to pick up a Polkadot Happy Meal instead.

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Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

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Blog Site - www.carltonzone.com/cryptopro
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https://www.tradingview.com/u/carltonzone/

SelfKey Correction Continues - New Base Projection

KEY CLUES TO WHERE SELFKEY MAY FIND NEW BASE

Here's the update on the KEY correction movement. My analysis is based on the chart provided by Tradingview.com, and I used IceCream Screen Recorder PRO for the chart art.

I have been following the dip, and paying attention to the critical fib circle rings that I set several weeks ago which are known to be “hot”. The fib circle analysis is clearly my favorite indicator for use in sniffing out pivot points, and price line movement.

The price line blew through the 4.236 fib circle boundary and went straight for the 3.618. It looks like it stuck to that fib ring for a few hours. But not long enough to guarantee that this is the new base.

The volume is gone, and staying very quiet. Without buying pressure, along with a weak stochastic that could still take another dip down into the oversold zone below the 20% line, I think settling on the 2.618 fib circle boundary is probable. That would bring a price of around 0.0027'ish.

IF it dips that far again, I'm loading the wagon. It could be the last stop before the bull run happens. But I do think buying in the range of 0.003 to 0.004 is still a great opportunity to do some dollar-cost averaging.

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Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
YouTube Channel - https://www.youtube.com/channel/UCfRbpFKfYxAc9WVUZHwo1NQ
Blog Site - www.carltonzone.com/cryptopro
Telegram Group - https://t.me/cryptoprocarlton
https://www.tradingview.com/u/carltonzone/

Polkadot Continues Strong Upward Movement

WILL DOT CORRECT BEFORE NEXT MOVE UP?

The Polkadot project is the talk of the day, and the rumor mill tells us that it may one day overtake Etherium. It ripped right out of the gates after the 100:1 split, but DOT doesn't look like it is ready to take a break. Let’s take a look at the chart provided by Tradingview.com.

DOT has come through a progression of stair steps, conquering one level after another since the beginning price of $2.50 after the split. Each time I thought it was going to have a nice correction, it only took a breather and made another rip to the positive side. This makes it a hard one to predict.

Looking at the current stats, the stochastic isn't in the oversold zone, but the fast line just crossed over the slow line, which indicates a possible reverse in direction. That would bring another level-up on price.

The only indication of correction comes from the volume. We see how the volume has taken a drop. But it's still fairly significant. So that is not enough evidence in predicting a dip. The only thing I can do with this is buy more, and continue with the “dollar-cost-averaging” strategy until I fill a nice bag with Polkadots.

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
YouTube Channel - https://www.youtube.com/channel/UCfRbpFKfYxAc9WVUZHwo1NQ
Blog Site - www.carltonzone.com/cryptopro
Telegram Group - https://t.me/cryptoprocarlton
https://www.tradingview.com/u/carltonzone/

LYXE Lukso Dips and Rips - What's Next?

MASSIVE VOLUME AS LUKSO TRENDS

This is a tough call. I wish I had grabbed a bag of this on the last dip. But I didn't see this run coming. The technical analysis for this chart is provided by the Tradingview.com website.

What makes this chart so hard to read is the messy stochastic. It appears to be on a downward move now. But the fast and slow lines just crossed, which indicates change in direction.

Sure, it might not last long, but it's there. I'm not buying this right now because this is definitely not the right cycle.

Notice how it was trading below the 50-day EMA for a spell, and now it is flying HIGH above the 50-day EMA. The buying signal should normally be when the price line is the farthest distance below the line.

I'll watch this one for a while before making a move. Volume is super strong, but I don't know what is driving it. Is there a fundamental event supporting this volume surge?

Carlton Flowers
The CryptoPro

NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies.

MY LINKS:
www.carltonzone.com/cryptopro
Telegram Group - https://t.me/cryptoprocarlton
https://www.tradingview.com/u/carltonzone/