Long Term Supports - Market Analysis for Nov 8th, 2017

Hey all- Gonna take a break for a bit. When I come back I'm going to start raising some support levels on the long term portfolio. These new levels are intended to give warning zones in case this rally ends up as corrective in nature. We'd then want to capture some gains and buy lower. But by no means will I completely sell out if these higher supports break. For the long term focused the old supports remain the important ones, but as always, I cushion my long term positions with some 'micro' or short term trading, usually with 30-50% of my position. So, I want to maintain a tight support for that smaller portion so we have opportunity later while remaining in my core until more critical supports break. 

If we do continue to put in impulsive moves, then I more confidently say the correction we had since June (apart from BTC) is now complete. 

Ryan Wilday hosts the Cryptocurrency Trading service on ElliottWaveTrader.net.