Bitcoin (BTC), Cardano (ADA), Basic Attention Token (BAT), Dogecoin (DOGE), ChainLink (LINK), OmiseGo (OMG)

Where can I buy the dip? Buy zones for multiple cryptocurrencies

I will prepend this article with the following: I will keep the analysis as brief as possible and only indicate a few levels I consider to buy and / or add to existing positions.

Cardano (ADAUSD)

Above: Cardano (ADAUSD) weekly chart

Please see the May 18 analysis for more information, but the buy limit zones I see for Cardano remain at a previous support zone between 0.84 and 0.94. Below that, I’d like to get in a little above the 50% Fibonacci retracement at 0.6598.

Basic attention token (BATUSD)

Above: Basic Attention Token (BATUSD) weekly chart

The price movement of Basic Attention Token during Wednesday’s route was quite dramatic – it was down as much as -57% at one point during the day. At the time of writing, Basic Attention Token is down almost -30%. It has plowed through its 38.2%, 50% and even 61.8% Fibonacci retracement levels. It found support at the level of 78.6%. I like buy limit orders at the 61.8% level (0.6265) and when they can return to the 78.1% level (0.4778). I would be hopeful and happy if it hit the 100% retracement at 0.338.

Bitcoin (BTCUSD)

Above: Bitcoin (BTCUSD) weekly chart

Any regular viewer and reader will be aware of the daily analysis I do on Bitcoin – so let’s keep it simple. I like the buy limit order at 34,000 because of the confluence of a high volume node and the 61.8% Fibonacci expansion. The monthly chart’s Kijun-Sen is also at 34,000. Below that, I like another zone of confluence of Fibonacci expansion levels and high volume nodes at 23,279.

Dogecoin (DOGEUSD)

Above: Doge (DOGEUSD) weekly chart

Surprisingly, Doge did pretty well compared to his peers (that there actually are colleagues is strange). Again, for consistent readers and viewers, the following purchase limit levels for Doge are the same as in my previous analysis. 0.138 has a congestion zone of Fibonacci expansion and retracment levels and a high volume node in the volume profile. On the next level, the VPOC (Volume Point Of Control) shares a price level with three important Fibonacci levels: 0.066. 0.66 would be the most ideal entry on Doge’s chart.

ChainLink (LINKUSD)

Above: ChainLink (LINKUSD) weekly chart

There’s really only one price range that I think is worth looking at on ChainLink’s chart, and that’s between 10.01 and 12.43. Around the 10.00 mark we have an extremely strong 88.6% Fibonacci retracement in addition to a 50% Fibonacci retracement. 10.97 is the weekly Senkou Span B – this is important because Senkou Span B is the strongest level of support / resistance in the Ichimoku system. And because Senkou Span B is long and flat, it means that it is very powerful and will likely serve as a support for ChainLink. Finally, at 12:36 there is a high volume knot in the volume profile. Basically, I try to lunge somewhere between 10 a.m. and 12.50 p.m.

OmiseGo (OMGUSD)

Above: OmiseGo (OMGUSD) weekly chart

As with LINK above, there is only one price range that I see as a long entry in the OmiseGo chart. 4.96 is the 61.8% Fibonacci retracement. Just above this level is the weekly Senkou Span B and just above the Senkou Span A. There is also a high volume knot in the volume profile that is present at this level. If OmiseGo goes back into the 4.96 value range, I’ll want to buy.