MarcusAurelius161

MarcusAurelius161 Updated 

TL;DR Bitcoin produced a hammer candlestick in a high probability reversal zone. The high of the hammer was taken out which initiated a long swing trade with a target area of 29k BUT the following candle was a bearish engulfing! This is NOT what you want to see after following a long signal and so the appropriate action should be taken. The 'by the book' trader...

MarcusAurelius161

TL;DR - We are at a major support area (20k - previous ATH from 2017. Despite all the "we are in a bear market" nonsense, as price has continued lower, probability for bullish price action has grown. A professional trader knows this and so looks for specific price action in support areas like this to trade. We now have a perfect example of this. The sentiment...

MarcusAurelius161

TL;DR - While the 28-32k resistance area was a very high probability reversal zone to form another lower range boundary for our big pappa Bitcoin (a range built between 65k and 30k), extreme market volatility has pushed prices much lower. Because of this extreme volatility and major bearish market sentiment you CAN NOT try to catch a falling knife and instead...

MarcusAurelius161 Updated 

The title is misleading - I am not a professional trader BUT I know how professional traders act. TL;DR - Bitcoin is at a range low with the break of 30k potentially being a fakeout. Probability still favours bullish extraction of the range especially if the weekly candle closes as a hammer candle. The three patterns (marked 1 / 2 / 3) are potentially patterns...

MarcusAurelius161 Updated 

What an absolute blood bath! The Crypto Fear and Greed Index has dropped to some of the lowest levels EVER seen! Surely this means the end of Crypto?! Skip to Bitcoin Technical Analysis if you are familiar with the macro-economic picture. Bad macro-economic news, stock market crashing, cost of living rises, rates rising, run on UST (LUNA) - the world looks...

MarcusAurelius161 Updated 

LOTS of FUD and shouting about a bear market. Some Alts are down 70% in the last few weeks! A combination of an ultra-strong dollar + stock market pull back remains the main driver for this price action but nothing has changed for our big boy bitcoin and so probability STILL heavily favours bullish extraction of the 30k-65k range. Bitcoin has been sat in a range...

MarcusAurelius161 Updated 

In this post I will give a probability assessment of where Bitcoin will go in the near/medium future. TL;DR - Despite fundamentals and a shifting rate environment, Bitcoin heavily favours more bullishness. "The Fed is raising rates!" "It's the end of the easy money environment!" "And now there is war with Russia?! Oh we are definitely headed for a...

MarcusAurelius161

Who bought ADA because it would "KILL ETH!" Who is still holding that ADA because "there's still a chance!" If so read on my dear friend. In this post, we will explore some of the signs that show us the strengths and weaknesses of Cardano (ADA) over time compared to Bitcoin. In this way, we can continue our mini-series of exploring the relative strength of a...

MarcusAurelius161

Patience is crucial in trading. No one tells you this when you start out but - ignoring the urges brought about by greed/fear/uncertainty are SIGNIFICANTLY more important to your trading success than learning how to read a chart. Why do you think there are multi-billion dollar institutions that employ teams of people to look into "INSERT XXX COMMODITY"...

MarcusAurelius161

TLDR; Bitcoin is in the process of forming a higher low on the larger timeframes (Daily/Weekly) within the range that it has sat in since April 2021 (range boundaries are roughly 60-70k area and 30k area). This increases the probability that Bitcoin will make an attempt at the all-time high and potentially head on up to extended targets of 75k and 100k. These are...

MarcusAurelius161 Updated 

How many times have you checked your chart since the January 21st break of 40-41k? Be honest with yourself - if that number is more than the number of days since then (just over 10) and you are not day trading then you may want to keep reading. In this article, I will give you some insight into your subconscious driving this destructive behaviour, and a little...

MarcusAurelius161 Updated 

Do you find yourself checking charts first thing in the morning? Do you sneak looks at charts when you should be doing something else? Does your trading impact your mood / make you worry / impact your life like an abusive relationship? Did you come here for 100% guaranteed price prediction? I lied in my title. In this post, I will give a Bitcoin forecast BUT if...

MarcusAurelius161

A fundamental rule of cryptocurrency is that when bitcoin moves, the whole market moves with it. This is called a correlated market. We see this in stocks, with large companies like Apple or Amazon moving in tandom with index funds like the S&P and NASDAQ. There is a whole host of reasons for this, but within Cryptocurrency there are two primary drivers (along...