Hello once again. This is not financial advice, this are my predictions, because I have fun trying to predict stuff. Mostly money related stuff, sportsbetting, lotteries, cryptocurrency. I do put my money on them, I don't want you to do the same. Writing this helps me to keep my focus.
Price Predictions
Anticipating a drop in prices in cryptocurrencies, I closed some positions, looking forward to buy at a lower price next Tuesday, when things start to go back to normal again. Now I'm going to, very simply, show you what entry points I'm looking for. Just using a simple graph, and the tool, Fibonacci retracements.
As you know alternative coins prices are pegged to Bitcoin's price, for a number of reasons, as this technology evolves, I antecipate one day It will stop being like this. For the time being it is importante we look at it, even if we don't intend to trade Bitcoin.
As you can see the price did reach the 38,2% Fibo retracement in the past days, but is holding the 50 % retracement very good. I'm expecting this maintains till Tuesday, so no big change in price. If it goes down to 38,2% even better (for me) I'll be getting in this one. This will be due to the New Year's festivities, as people are not watching the markets, they will take their money out. If it goes lower than that. Then a shift in the opinion about Bitcoin is really happening, and people are start to go towards more effective cryptocurrencies, like XRP (I know it's a token). How much the higher fee will affect the sentiment towards Bitcoin? We don't know, as this is all very recent and there's no history behind it. I'm looking for an entry around $12000, $13000, next Tuesday. If it goes lower than that..well that's a whole new post in itself.
I'm not going to post a chart for XRP, as it is really confusing right now, after this huge Bull run. I'm also waiting for Tuesday for this one. If it doesn't drop in price during the next two days, it will be something..Unbelieveable. In my opinion it is really risky investing in XRP at this point..As is any other coin.
The Fibonacci retracements for Dash look exactly like Bitcoin, I don't want you to think I'm copying the same image.
I'm waiting for the price to go as lower as $750. If it goes to at least $900 by Tuesday, I'm in.
I'm waiting LTC to drop to around $175 to $215.
Again, the graph looks like the Bitcoin one. I actually think ETH won't go lower than $650 (38,2% Fibonacci retracement).
Probably the most risky prediction, due to the short history this coin has. I'm predicting BCH goes below the $2000 line, During the next 3 days, or even during the first weeks of January 2018.
This next days will also be a huge oportunity to get in on the, cheaper, less popular, better risk to ratio, coins, you missed the chance last time (dogecoin lol). Although, for short term, this might not be ideal, as they might not recover at the same rate the Top 5 or Top 10 Cryptocurrencies will.
I'll try to keep an updated analysis of this predictions.
This is my previous post about the simple idea behind this predictions. (New Year's festivities)
https://steemit.com/bitcoin/@outcast81/cryptocurrency-prediction-for-the-next-3-days
Note: I used etoro's trading platform graphic chart's for this. The prices are a bit off compared to the https://coinmarketcap.com average prices. But the pattern is the same, same retracements apply. The price is around the one in the images.