Good morning, traders. Bitcoin has continued its climb, stopping just shy of $13,000 overnight before retracing to just under $12,200. Some of the crazy volatility hit my SL and stopped me out in profit last night but I longed once more and remain long at this time. Currently, it appears that price is printing a flag which should have a target of $14564. This is...
Good morning, traders. Bitcoin's price continued to grind up over night to a high of $11488 where it was rejected by the 15 minute R2 pivot. As a result, we've seen a sharp, quick drop of around $470 this morning which was also quickly bought up. These liquidity grabs help price continue its journey higher. I have continued to warn about this volatility at these...
Good morning, traders. We saw pretty much everything I said we would see this weekend -- Price eased through $10,000 just like it did at $6,000, it topped out around $11,200-$11,300 depending on which exchange you were watching (I mentioned a target of at least around $11,084 based on the pennant's flagpole height), and we saw strong volatility as price dropped...
Looks like we have formed a flat top rising bottom pennant. From what i am reading is Absorption at higher level reaccumulation stepping stone with shakeout Estimating that we are entering Phase D and we will soon see a mark up that will test resistance levels
Estimating that we are in Phase D of reaccumilation stepping stone and that we could fall back to the level where we jumped the creek (broke previous demand line) before a sign of strength and a mark up.
Gold has been in a long term down trend which seems to be ending in a bullish change of charector.
Good morning, traders. As I warned on Friday, "...what appears to be a wedge, many times, is nothing more than price grinding toward channel resistance and when it pops through it usually makes quite the move." After this weekend, price now sits ~$1000 higher while printing a large ~$1350 engulfing candle. Is it a bullish engulfing candle? I don't believe it fits...
Estimating Gold just had a failed Spring and will have a nice Sign of Strength as I believe we are in phase C of reaccumilation
Trying out Wyckoff method and thinking Litecoin might be in Reaccumilation
Good morning, traders. Bitcoin continues to trade sideways while printing higher lows toward the $8100 resistance on the lower TFs. It doesn't amaze me anymore that novice traders think highly bearish in spite of this development. Many of y'all are still in disbelief at this 6 month bull market. Sadly, what they fail to understand is that even a correction toward...
if price enters either band, price goes to the center of that band. Otherwise trend is technically sustained. Bet on it.
Good morning traders. If you haven't been in Discord with us then you missed my Bitcoin updates on Friday and Saturday as well as my live stream where I updated my thoughts for members and price followed along as I outlined that it would. It appears that we are now completing reaccumulation with eyes a few thousand dollars higher. In terms of the parabola price...
Good morning, traders. Yesterday's price action has everybody instantly bearish... again. It also shows why I am always discussing the importance of risk management and intelligent stop losses. No matter how good you may feel the charts look at the time, absolutely anything can happen. In this case, we've been discussing the possibilities of having topped out or...
Good morning, traders. Imagine thinking price hit the high and shorting already. Or worse yet, remaining short and not buying the dip yesterday. Of course this is only a sad predicament if you believe price will head higher before heading lower. I continue to remain long at this time. Nothing has changed, in the larger picture, to warn me that I need to exit my...
Good morning, traders. I see a lot of traders are very disturbed by this small move down and, as a result, reversing their calls this morning. Yet it's exactly what I said was likely to happen. With the break out of the 4H TR being the SOS, the odds were high to return to the TR and test it as support to complete the BUEC/LPS before printing another, higher, SOS....
A Wyckoff study. Looks like an up-sloping re-accumulation Trading Range. Price moved back on to the midline. BTC may show a sign of strength towards 5800 historic S/R zone and test the area. If you look at RSI indicator you can see upward break of the channel. That feels like supporting the spring action idea. Sign of strength bar might follow. PS: Not an...
Good morning, traders. I believe we are a lot more bullish than most of retail thinks at this moment. We see the dips being aggressively bought up with price still pushing higher. Everyone continues to compare the current market to 2014/15, which only results in feeding their bearish bias. As I've mentioned before, nobody is comparing price action and volume from...
Good morning, traders. I said I would post a bearish case today and I will a bit later. I forgot that I have an AMA for our free and paid Discord members this morning. So, for the time being, here's a quick view of what I'm looking at now that we've had our initial move down. I suspect that Wave A has completed now and we are on Wave B. I am looking for this...