Good morning, traders. Bitcoin found itself trading sideways over night once more, narrowing the range as it did. CME Bitcoin futures expire tomorrow, so it is possible the market is waiting for this to happen before we see a spark to ignite bullish momentum. Of course, we could just as easily head downward, but this doesn't make as much sense considering price...
The daily chart gives us a large picture of the overall price movement. There is a possibility that the large price movement from February has created one of the two wedges noted. The support of the first is derived off the candle bodies and the current low would need to be the spring which means upward momentum would have to breach that resistance line of the...
Good morning, traders. Currently, there appears to be more reason to be bullish, at least in the short term, than there is to be bearish. As mentioned in last night's live stream, it looks like Bitcoin is building a case for a repetition of the April low. However, just because things can appear that way doesn't mean they have to follow through. As always, traders...
Longs continue building a potential ascending triangle. Succinctly put, we are watching longs build up toward the resistance at 33200-33500. A bullish movement in price should see a surge in Longs as they breach that resistance, resulting in an acceleration of that bullish price momentum.
Good morning, traders. We had another night of lackluster movement but, more importantly, price was unable to remain above its resistance-turned-support level. Since that point, it has dropped to the next support level where it has just bounced, as we mentioned traders should be watching last night. Due to its inability to remain above the $6230 area, it seems...
Good morning, traders. Finally, we have a bit of volatility in Bitcoin and the appearance of liquidity engineering. This is the chart I have been working off of for a while now. The volume on this drop has been insignificant compared to the volume on the initial SC drop which is providing support for the theory that this may be the bottom. Remember, bottoms are a...
Good morning, traders. Bitcoin did as expected this weekend and finally produced a new yearly low. The question is, did this move set the spring we have been discussing? As I continue to remind everyone, the bottom is a process, not an event. The spring is part of this process. Since my original Wyckoff chart was a bit old, and a few individuals have decided to...
Good morning traders. Overnight, we saw Bitcoin's price dip and rebound. Overall it has been drifting downward, however, but does appear to be setting up for some potential upward movement. The overnight movement allowed us to adjust the descending green channel slightly on the 30 minute chart so we can get a better idea of overall movement. We can see that...
Good morning, traders. Bitcoin's price dropped last night as expected but found support at the $6560 level. Since then it has been traveling gradually upward and this morning saw a strong push up of almost $200. On the 4 hour chart, we can see the move back up and how it has found resistance, once again, at the 1.414 fib extension at the bottom of the cloud. RSI...
Good morning, traders. Bitcoin's price dropped last night as expected but found support at the $6560 level. Since then it has been traveling gradually upward and this morning saw a strong push up of almost $200. On the 4 hour chart, we can see the move back up and how it has found resistance, once again, at the 1.414 fib extension at the bottom of the cloud. RSI...
Good morning, traders. After a bit of a boring night, Bitcoin has decided to move this morning. At this point, price has stopped just shy of yesterday's high. As I discussed during last night's stream, there was a possibility for price to have one more leg up toward the $6900-$7000 area. This may be playing out at the moment as we have seen price breach...
Good morning, traders. After a bit of a boring night, Bitcoin has decided to move this morning. At this point, price has stopped just shy of yesterday's high. As I discussed during last night's stream, there was a possibility for price to have one more leg up toward the $6900-$7000 area. This may be playing out at the moment as we have seen price breach...
Good morning, traders. This past weekend may appear to have given no definitive direction for Bitcoin, but we may actually have an idea of the short term direction. Let's take a look. As I have continued to mention for over a month now, this downward movement appears a lot like the previous two movements as seen in these 4 hour and daily charts. The first in...
Good morning, traders. This past weekend may appear to have given no definitive direction for Bitcoin, but we may actually have an idea of the short term direction. Let's take a look. As I have continued to mention for over a month now, this downward movement appears a lot like the previous two movements as seen in these 4 hour and daily charts. The first in...
Good morning, traders. This past weekend may appear to have given no definitive direction for Bitcoin, but we may actually have an idea of the short term direction. Let's take a look. As I have continued to mention for over a month now, this downward movement appears a lot like the previous two movements as seen in these 4 hour and daily charts. The first in...
Good morning, traders. This past weekend may appear to have given no definitive direction for Bitcoin, but we may actually have an idea of the short term direction. Let's take a look. As I have continued to mention for over a month now, this downward movement appears a lot like the previous two movements as seen in these 4 hour and daily charts. The first in...
The daily chart isn't giving us a whole lot of new information at this time as price movement has been muted overnight. We are continuing to see price and indicators play out as suggested that they might yesterday in following the pattern that played out in February. RSI is currently sitting at 33.79, right above oversold. MACD is printing a contracting negative...
Good Friday morning, traders. Price wicked up to a high of $6736.50 yesterday and has continued to fall since then. I am still not seeing any conviction in further price appreciation. It is currently sitting on the bottom of the ascending channel it has been trading in. Any further downward movement below this channel can see this pair continuing to fall rather...