Good morning, traders. It is Columbus Day in the U.S. which means professional traders are enjoying a 3-day weekend so volume is lighter across all financial markets. This includes the crypto market. After another lackluster, sideways weekend, Bitcoin finally pushed up and through the resistance of the July triangle this morning. The question is, can price remain...
Good morning, traders. I'm trying a darker color scheme here, so let me know what you think. It is the beginning of the work week in the U.S. after the 3-day holiday weekend. Shorts jumped up over the weekend the short/long ratio currently stands at 1.1558. There are a couple of possible reasons for this: 1) big player could be baiting retail into shorting so they...
Good morning, traders. It's Monday and time to get the trading week underway. As pointed out during Friday's daily live stream (where we always go into greater depth concerning price action), Bitcoin appears to be following April's pattern. The same can be said with the shorts/longs ratio. While there are no guarantees, it does give traders something to watch as...
Good Friday morning, traders. The end of the week is here and Bitcoin appears to be setting up for a large move. Many traders were shaken out overnight by the drop in price and remain even more skittish now. As I mentioned during last night's live stream, yesterday's daily candle printed an inside bar which most often precedes a strong movement. While that...
Good Thursday morning, traders. Things start becoming interesting now with the weekend just a day away and daily RSI sitting on oversold. If you have been tuning into our daily live streams, then you know I have discussed the various possibilities presenting themselves at this time. Daily oversold often provides a bit of a decent bounce for price, at least, though...
Good morning, traders. Bitcoin appears to be working on the bounce that I discussed was more likely than not during the live stream last night. However, we must remain aware of the potential for a dead cat bounce rather than a full reversal of what may just be a corrective leg down since the $8500 high. This recent upward momentum has pushed price above the...
Remember, all corrections take the same general path as they are all the result of human beings and their unconscious reaction to fear and greed. They just take longer or shorter depending on the movement prior, and the movements may be more or less exaggerated. This comparison in no way suggests that price will definitively do one thing or the other. It is...
Good morning, traders. Price dipped a bit further than expected, but so far is acting exactly as I discussed it was likely to do. We saw strong absorption on the drop as indicated by the large volume and appear to have found the bottom, for now, at around $7450. This provides two possible scenarios if price is to continue upward. The right chart shows the...
Good morning, traders. It's Thursday which means the week's end is near and trade volume generally begins decreasing. The overhang from the OKEx $420 million long liquidation comes to a head tomorrow. OKEx needs price to ramp back up above $8000 by Friday's settlement, which is 16:00 Hong Kong time on August 3, to cover/mitigate the loss created by that...
Good morning, traders. Price action this morning exemplifies the importance of short term traders not getting into a position when the market is moving sideways like it has been. This is what I'm constantly warning new traders about. There is no definitiveness of movement until price exits that sideways chop. Unfortunately that is also one of the most difficult...
Bitcoins painting a very similar re-accumulation phase just like before . Theres a very well defined BC and AR creating the TR, a ST and what appears to be a creek forming. I'm wary that there is a possibility that this is a little premature none the less something to keep in mind. Volume is dropping, price range is narrowing, volatility dying and buying...
IMO we're still in reaccumulation. We've just broken the TR on low volume sprung back into the TR and tested the support. Sell volume is being absorbed. Expecting a move to the top of the TR for an LPS then upwards to $7800. 2&3hr bull STOCH springs, tensor charts showing support below and clear above.
Bitcoin going through Wyckoff Reaccumulation. Hidden bullish divergences and weak volume sell offs on the way down (supply absorbtion). Could see spring at weekly support ~$8700 before next leg up to ~$11.3k. BTC/USD BTCUSD #BTC $BTC #Wyckoff #Reaccumulation - @CryptoCurb
Chart is self-explanatory. I could really just post that picture and "BTFD" as a one-word explanation. Pretty much everyone, myself included, has been drawing the channel wrong for a month because there was no second touch of the bottom. In the past 24 hours there was - and now the channel makes so much more sense. We didn't break it at 9750 at all. We've always...
Another week of sideways in BTC turns out to be a much more exciting week of sideways than most - for the chart which has ranged nearly 15% from the local high has been a lot more volatile than it has been for awhile. Fortunately, the pattern is now really clear and I'm willing to put my butt on the line and say that the next major move up is soon to come. We...
Yoyow is showing some interesting signs of life. After being added to Bitfinex, YYWBTC rallied nearly 1000% before taking some time to cool off. This period of consolidation is looking very much like a reaccumulation phase reaching peak maturity. YYWUSD appears to have jumped a creek and is currently retesting resistance created by prior all-time highs....