Happy Thursday. Today the Technical Analysis will be confined to the 15 Minute Intraday chart. With that, let’s get to the TA… Looking at the 15M Intraday Chart, the formation printed a Major Sign of Weakness (MSOW) on a breakdown with conviction through the lower line of support at the $9,120.00 price handle to $9,020.00, before reversing direction and printing...
Happy Sunday. The concept of money has always fascinated me. If you ever find yourself in the Colorado Springs area, be sure to check out the American Numismatic Association Money Museum . It is probably one of the most comprehensive histories of currency in the United States. Lately I’ve been somewhat sucked into a piece I’m writing about Blockchain and...
Market move in phases as I learned in Smart Saham course to become Versatile Wyckoff Trader by Alwi Adam. 1.Accumulation, 2.mark-up, 3.re-accumulation, 4.distribution, 5.mark-down 6.back to accumulation again.. Understand these phases able to help us determine where to enter and exit the market. For this counter..we expect the price continues higher as 10%...
Trend line still alive, as was violated yesterday...High Risk Reward entry covering the following technical artifacts: Bottom of flag Trend line Initial Momentum shown yesterday Point figure H1, H3, and H4 aligned, only H2 deverges but about to become bullish.
Happy Wednesday. After some consideration, I’ve decided to initiate coverage on Ethereum in addition to normal coverage on Bitcoin. The scope of the TA will again be limited to the 15M Intraday Chart. With that, let’s get to the TA… Looking at the 15M Intraday Chart, after a period of consolidation within the resistance range ($227.75 - $222.25), Ethereum broke...
Happy Wednesday. I mentioned yesterday the appearance of an Upward Thrust (UT) to the $9,180.00 price handle during what I assumed was a continuation of a Phase D Wyckoff Distribution threw a ton of red flags. After publishing my analysis Monday, I noticed the volume profile and PA did not line up with a Phase D Distribution, and the Selling Climax (SC) did not...
The formation flipped from Distribution to Accumulation. I've covered my short position and I am looking for an entry to go long. More detailed write up later
Happy Monday. Unreal what is happening with Wirecard and Crypto.com over the past two weeks or so. At one point I’d considered grabbing some MCO tokens and registering for their debit card, and in retrospect I’m happy I never made that move. Be careful out there in cryptoland. Today, the TA analysis will once again be confined to both the Intraday Charts (4H and...
Happy Friday Bitcoin Options Market with approximately $1 Billion in Options expire today, so it should be a bumpy ride. Today, the TA analysis will be confined to both the Intradays (4H and 15M). With that, let’s get to the TA… Looking at the 15M Intraday Chart, the formation recently dropped beneath the key support line turned resistance at $9,240.00 and...
Happy Thursday. Tomorrow appears to be a massive day in the Bitcoin Options Market with approximately $1 Billion in Options set to expire. Bitcoin Options Market Faces Record $1 Billion Expiry on Friday According to the article, there are 114,700 options contracts valued around $1 Billion USD across Deribit, CME, Bakkt, OKEx, LedgerX which are set to expire,...
Happy Wednesday. It would appear my thoughts about the formation printing a bull trap were correct, and the recent drop signaled the conclusion of Phase C and entry into a Phase D Wyckoff Distribution pattern. Looking at the 15M Intraday Chart, it appears as though the Sign of Weakness (SOW) printed at the break of the Bearish Support Line on a Descending Triple...
Happy Tuesday. The expected Upward Thrust (UT) in Phase C did appear, and it came with both the volume and PA one would expect for a bullish move up. The larger question is – does this mean the formation is bullish rather than distributive? Looking at the 15M Intraday Chart, it appears as though the formation had a bullish breakout with Move 1 taking the PA to...
Happy Friday. With the current news about the young trader on Robinhood who committed suicide after racking up $700k in losses, be sure to never trade more than you are willing to lose, have a plan and stick to it. Trading and surfing have a lot in common – every wave is not the right set, so look for your set and let the others go. Plenty of great opportunity...
Happy Thursday. Currently the formation has completed Phase B of a Wyckoff Distribution and is moving into Phase C of a Wyckoff Distribution – arguably the most volatile of all the Wyckoff Phases. I believe the PA appears to be headed lower in the near future for a number of key reasons: The formation has remained constrained beneath the trend line (on the 4H...
Happy Wednesday. Today’s analysis will be a bit brief and focus on the activity of the 4H Intraday chart for a potential short setup. Looking at the 4H Intraday Chart, the PA continues to remain underneath both the resistance range at the $9,480 price handle and the trendline established at the final Upward Thrust After Distribution (UTAD) at the $10,000.00 price...
Happy Monday. Well, that escalated quickly. Looking at the 15M Intraday Chart, that breakdown below $9,000 to the $8,900 price handle took virtually no time at all for a Wyckoff Distribution. The PA for the formation could never break above the $9,480 price handle, even on successive attempts on very anemic volume, which signaled a move lower appeared to be in...
Happy Saturday. My price target for that most recent breakdown missed the bottom by $20 (too low), so I have some mixed feelings on that one. However, I do hope everyone found an entry into a short position. This climactic breakdown to $9,060 during the Phase E Wyckoff Distribution exhausted the full cause built into the formation during the last distribution...
Happy Thursday. While Bitcoin pushes forward into a more bearish market in the near term, the news cycle around cryptocurrency and stablecoins continue to dominate news cycles and continues to be very upbeat. Bank Frick, the cryptocurrency friendly bank in Lichtenstein, now processes payments in USDC as an alternative to processing payments via the SWIFT...