 Good morning everybody. Welcome to Monday the 17th of May 2021 So what we're gonna do today is we're gonna have a look at the crypto space and a couple of these coins Cardano Stellar H bar doge link Ripple Ethereum and of course Bitcoin so what we've had over the weekend is Elon tweeting away like like he doesn't own Bitcoin essentially You know we have reports that test or rumors that tests that are potentially dropping their entire Bitcoin position So it's a bit of a disruption to the space for me. I think this is just a lot of noise You know I'm saying this to Anthony last week that you know a lot of these markets like are bigger than any one Individual and we see that in the future space all the time and That you know people make past big commentary on markets I'm really you know, yeah, there is that initial volatility both and headline risk that does initially affect that market But those markets then largely shrug off Those you know comments like this and I am I am saying that I think we're seeing gonna see this with Bitcoin You know from Elon's commentary So what we're gonna do is as a weekly look ahead We're just gonna look at some of these coins as they trade on the daily Maybe zoom into the 60 minutes and really see where they are technically so I have actually been tracking these for the past number of months and I am a holder of the coins that we're gonna be looking at and You know just for all due diligence purposes and Yeah, so let's just go across and have a look at these charts. So and you know from the top Really actually let's go from the bottom right and we have Bitcoin here And so, you know, this is by an aunt start up And so here's the range that I've been looking at for Bitcoin working really 46 069s on the low here up to a 67 Sorry, 62 750s on the high and you can see using that sort of framework of the market and Then, you know, I've got this lovely area. You can see where trade has been contained albeit blowing out here on the top It's sorry the 9th of April And just not being able to hold above that range and then work it back in and then you can see loosely at the top Of the range here It's just contained to go back down to the other side and just technically mapping this out for you So to show you what you're looking at and also I've used a couple of key levels like the 20,000 which for willow myself was this real demarcation line for the breakout Then the pullback and then the bid up to where we are now You know three times the value if not more But you know also using a fib extension tool from the swing low that we saw on the 25th of Jan this year to the swing high that we saw on the 20th of Feb this year and then the pullback Low to the 27th of Feb and that gives us these Fibonacci extension targets, which You know, they may not make so much sense to you looking at them now But you know, we will track them as we go on through time So I'm just going to cut them short and put them on the left here for now. So from a fundamental perspective You know, we were looking at on our twitch feed last week the sort of bear flag ish activity that we see just in this This sort of sideways apparently sideways consolidation But you know, we did fall out of bed on that bear flag really actually only falling out properly last Wednesday I did flag this up at the time and you know, then coming into the weekend We've seen Elon just bashing Bitcoin driving it back down at the bottom of this range here You know, I actually think there's good buy here on Bitcoin. I'd had this highlighted as a nice area I wanted to get involved at the 46 069 spot on the range And you can see there was a stand-up off of that level which would have been a nice the intraday long last week and we could certainly go over to the The 60 minute chart and have a look at that there. And so here is that sort of pullback on sorry That's not the pullback on that level This is the wrong This is stellar Let me get onto my Bitcoin 60 minute. Here you go. So essentially, yeah, well within that one hour bar You know, we pipped into this area a lot of risk and you know potentially blowing out traders on that long But then getting back up into this range and then, you know, just working its way back again You know a pack session this morning drop it can't hold in the range dropping back This actually to me now looks like a decent short for the intraday traders You're shorting the 46 069 is your sort of risk off level and then trade this on down to get a lot cheaper Than than it is right now. So for me, I actually think for now, there is more downside on Bitcoin Until we until we essentially Probably have reversal of commentary from Elon or he comes out and says he's just joking or something like that And you know, but until then I don't like to look at Bitcoin We will talk about Bitcoin when we talk about our Hedera hashgraph We're also known as H bar to the Bitcoin denominator asset there but the other big boy in town is a As we all know, Ethereum also the only other future CME traded crypto product And I was looking at the bear flag that we had here a couple really back way back on The 12th. So, you know, sorry last last Wednesday We have been tracking this bear flag, right and then lo and behold We blew out in the top put in a new all-time high here Up back 4b 385 euro or sorry USD to the to the Ethereum And before then receding back into the bear flag, right? And that's when I had this sort of area that I wanted to be sure And after actually looking to buy a pullback, then I just thought wow I might want to short this thing And sure enough, we came down to retest this fib extension level here at 32 57s Now this fib extension level again like any Fibonacci extension We've got the low 22nd of Beb 2021 Then we have the high 13th of March And then the pullback 24th of March and that gives us our projection areas moving up here Nice target on this blow top pie that we had. So, you know, the market firmly stuck in this sort of a range Really, let me just kind of put on, you know something a little bit like this You know The buying I think on the 32 57s here I'm not so sure if this is going to hold up. I think we could get a little bit deeper on the pullback And this was the main really decent break out area 25 51 spot 90 On ethereum for me and I think, you know, if I really wanted to pile into this Which I do I'd definitely be waiting for the 25 51s You could be starting to add in a little bit here in the 32 57s, albeit, you know, I'd rather wait until we get this sort of elan You know air out of the market Looking at sorry, I just fixed that up there Looking at let's see doge Doge, I mean what a coin It's just just talking about this with someone we have broken out of this well-defined range that we had in doge You know putting in I think there's this 400 percent up move here Over like I think we did 400 percent in one session There a couple of weeks ago But for me, we are sort of building into what is like a like a flag sideways consolidation structure I always monitored these things and they break out the way the way they came in So this this flag was formed on the bedside and I think it will exit on the bedside and when you and it's not uncommon To see fake outs on the breakout So you get a fake out on the breakout and then that gets entirely reversed quite aggressively So this is kind of the shape of the market I see on bit on doge I think it's very well supported on the 38 euro cent to the doge Um, which is the top of this range So, you know nice nice area to buy here and get on with further upside prices And even if it fails and comes back down I think, you know, you should be buying down here at the 18 or 19 euro cent And 100 percent buying, you know at the 11 euro cents to doge That's just the shape of the market on the daily bars that I can see here Uh link not going to spend too much time on link. This is as clear and clean as it gets Almost well. No, that's what probably isn't as clean as one or two the others I'm going to show you but what we've seen is the range well defined And finally firming up here late April Excuse me and then moving up into what was a bear flag We get the breakdown but then well supported on the top of the range I think we have seen the low for probably at this quarter on link But, you know, I don't like putting out massive calls like that willy-nilly You know, I'd like to I'd like I'd like to think this will remain supported I don't really want to see these markets coming back into the ranges that they've largely spent You know all of this year forming as a nice sort of jump point base area to go on for higher Um ripple, you know ripples a bit of a ripple has had The weight of an sec investigation for the past six months on at the back maybe even longer But now the sort of commentary coming out of that sec conversation and That investigation is actually now swaying towards ripples favor Um, they're not viewing a lot of the activity that went on as being nefarious And so I think this is why I am interested in owning ripple for much further up the upside now Um, I think, you know, we have the the flag Penance this should exit the way it came in I think the consolidation here is is good. It's healthy. I mean, obviously, you know, you wouldn't want to see this and be a buyer Um, but I do like the lungs from say the spot 80 Cent euro sent to the ripple coin. Um, so Yeah, I mean I think further upside on this who knows right now where it's going, but you know, fib extension tools are telling me Um, essentially that you do have Uh, you know good consolidation up here at the one spot five six seven six Um, you know the next leg up. I don't really have Too much of a target apart from the two spot three five one one euro sent and that's a four hundred and twenty three percent extension Fibonacci now just to give you a little flavor of Um, what the percentile gain from where we are now, for example is to there Uh, you're looking at about 86 percent increase in baseline price From here to there. I'll I'll take I'll take that trade at any day. Absolutely So I do like ripple. I do like the fundamentals how it's softening And I think, you know, there's a value to be had there right now. Um Yeah, that's that's as simple as that really unrippled. So I actually overall I am very bullish on a lot of these coins H bar a fantastic Uh, really fantastic coin. Um This is really part of more so the data blockchain space rather than DeFi or anything like that. So Hedera hashgraph is kind of used to confirm database transactions and handy, you know crisscrossing data across a lot a lot of systems and um and ripple is Or sorry h bar is is a network used to facilitate that. I've actually worked in this space. Um for a number of years and You know, I'm quite familiar with what's going on with h bar for me The fundamental aspect is that I don't know if many of the very large tier partners that h bar have on their council the the hedera hashgraph council are going to be happy with You know 100 percent 200 percent markup on um the cost of of transferring their data But we are talking very very very small beans. Um per per per confirmation under up transaction Um or any of the dApps digital apps that are built on this network So I think there is quite a lot of upside left for this to run And I'm trading h bar to the bitcoin. So Any time we get a softness in bitcoin, we're obviously going to see appreciation of the underlying price on on h bar btc So definitely I'm staying in here for a continued breakout. Yeah, you could definitely get another pullback here on 549s 549s So You know, I'd be a buyer there again. Um, I don't think this is a a fake out on the upside I'm for believing the upside on this on this coin. Um, so what else can we see ripple? Sorry, not ripple stellar stellar is actually one of my uh overweight coins and I have no problem sharing that and so Again with the range that we've we've formed throughout this year and just fantastic buying, you know participation every time we we break out above and pull back to the top of this range I mean, it's just evidence to see here on the daily bars Uh, I'm still looking at buying more on the 47 914 Uh, stellar is to the euro. Um, the shape of these markets will be exactly the same Um on your usts or your euros to be honest, maybe a little bit different Um, but you know, I wouldn't be too concerned about that I think the the overall shape and momentum of these markets is explained by each of their individual charts, whether it's Stellar gbp stellar a ud stellar ust or euro Um, albeit stellar euro or sorry stellar or any of these coins paired with the u.s Dollar are obviously going to benefit quite a lot given that we have this weaker dollar environment, right? I mean if we look at If we look at this weaker dollar environments here Um, Dixie, which is what you know one of the markets that we cover in the in the main pro Room is that you know, this Dixie trade is you know, the Dixie to me is set for trading down to 89 spot twos Um, certainly down to the 89 spot 9 9s Um, I'm breaching below and you know, this is a well telegraph trade to the market to be honest So why is this important? Well, if you're trading crypto and you have us d denominated coins and positions Well, well then, you know, you're set for a pretty decent Enduring upside as that Dixie value slides off as we have these inflation readings coming in And devaluing that currency. So, um, you know, and then finally, uh, a da cardano cardano Richards one of the pro traders in the crypto room Richards favorite coin I say tongue-in-cheek. Um, but really this is being fantastic on the breakout of the range And then a pullback here seen When we get this pullback, this was strictly speaking. This was actually on the 10th of May And you know that pullback being well supported on the bid going moving up here to the two euro marker To the ADA. I think I think, you know, yeah, we're having a pretty deep pullback today I'm not scared. I think we're going to be seeing much higher prices here as we go on through the rest of this summer And indeed just the rest of this month. I think we're going to see some pretty well supported buy back sorry well supported Sell-offs here like like the one we're seeing this morning. Well, I wouldn't qualify this as a sell-off It's just a pullback really it'd be a sell-off if like if a crash down Below the range high which is here at one spot two three Range high, so that's really a little look ahead for the week The trades, you know, I think I'd be trading off a lot of these range highs and lows For the week looking for the edge there You know, I think it's it's best for me to be monitoring these things on the on the on the daily bars And kind of keep us out of you know, any of those Itty-bitty marginal trades that can get us all into a lot of trouble and get you really turned around On managing your your your book and your investment book in these products And so yeah, if anyone wants to reach out to me you can get me in the discord room live every day Um, I'm live on video on chat with the guys and girls You can email me t.doganaamplifiedtrading.com Or reach out to me on twitter. It's at timdug at timdog So listen guys and girls have a fantastic trading week. Um, don't listen to elan and Yeah, I hope I hope it goes well for you. We'll see you towards the end of the week. Cheers