Overnight Thoughts & Entry Points - BTC, ETH, LTC

Overnight Thoughts

The volatility level continues to be low in the Big 3 markets as Aug 1 approaches. I don't think the fork will hurt is in the short term and I don't think Bitcoin cash's mission will hurt Bitcoin longterm. These are two separate projects with two separate visions. Ultimately, like the free market has always done, winners will be chosen and the best assets will rise to the top. I look forward to Aug 1 so this issue can settle down and we can start a period of "post-fork" pricing.

Bitcoin

Bitcoin traded down yesterday to 2400 and recovered handily overnight. Asia loves the crypto markets because it protects their fiat holdings from confiscation and devaluation. I see BTC breaking out some today and restablishing the 2600-2750 range by weeks end. After Aug 1, we should see the all time highs tested and broken through. I would establish longs under 2600 because, while BTC is volatile, if it breaks out above 3K, we may not see 2600 for a very long time.

Ethereum

My favorite platform/asset has been in a rut recently due to the ICO selloffs, Aug 1, and it's ridiculous attachment to the price of BTC. For now and until more companies adopt dapps off he platform, the price may trade in the 200-250 range. The road to 250 is going to be tough as there is resistance at 205, 212, 235 that will hold the price down until the bulls return. Right now is a great time to open up long positions at or under 205.

Litecoin

Mr. Rock solid continued it's full range and has shown no sign of breakout. It has been a safe haven through the prior month's volatility but, will investors pull out and move back into BTC and ETH after Aug 1? This is something I've been thinking about very much the last few days and has dampened my EoY prospects for LTC. I caution Entry here and would wait until we see the post Aug 1 price action. Will a rising tide (BTC price action up) raise LTC along with it? Stay tuned.

Others

As you will notice below, I've added some projects to my list and have moved more into 1 in particular. Alongside of the big 3, I've now put action on XRP (ripple - financial institution settlements [5.4 trillion in settlements a DAY]), XEL (elastic - supercomputer that eliminates all menial tasks from daily life [stronger than golem]), CVC (civic - universal decentralized ID), and of course SIA (siacoin - cloud storage, far cheaper Han Amazon web services). I have not followed these markets closely enough to talk about price action to date but hope to incorporate these alts into my morning thoughts. If you have a favored coin and want some thoughts on it please direct me to the whitepaper and I will do some diligence.

EoY Calls

BTC - 5000

ETH - 500

LTC - 100

I hope you enjoy my morning thoughts and find them useful. These obviously are my own views and opinions and should not be taken as investment advice. Your own analysis and diligence is encouraged.

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My fav projects to date (only listed if i understand the project not the hype)

ETH
BTC
XRP
LTC
XEL
CVC
SIA

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