Bitcoin is BACK!....but don't buy here....in fact, I've sold all my crypto once again in order to re-load lower and build cash reserves to take short-term trades in either direction as the market works out this power struggle. Bulls will win in the long-term, but the bears will have their day as well soon. Fractal patterns are extremely powerful technical tools....
Crypto continues to put in bullish divergences on pullbacks. The exact entry/stop are not that critical here. Just a matter of whether you can get in low enough to get good odds to pay if the bullish divergence on the 4hr + charts continue to play out. An hourly or higher close above 258 or any break above 271.50 on ETH is where we can expect things to get back...
Litecoin remains bullish. 6h chart respecting the 50 ma and the daily is not closing below the uptrend line. Every dip is getting bought. There's no great reason not to tag along as long as risk is managed. Watch for more bearish divergence for the first signs of trouble (as this has worked in the past), but for now, it's BTD, take profits when you're right...
Bearish divergence = Higher highs on price, lower highs on indicators - Weak signal in bull markets, but usually happen before a trend change (especially along with a volume spike) Bullish divergence = Lower lows on price, higher lows on indicators - Strong signal in bull markets; usually followed by continuation of the bullish trend Nothing works all the...
Long again on Bitcoin for what may be 1 more leg up. I expected a deeper pullback, but the pattern we're seeing now is bullish, and the higher timeframes are bullish....so....be bullish. I see 9400 or so. We shouldn't see a 6hr close below 7400. If we do, this could be fakeout, and then I'm looking to get long in the high 5k's, low 6ks'. The position of the...
It's bitcoin, it could continue, so don't get greedy with shorts, but being up over 50% since our last test of a significant daily moving average....it's time to take profits and consider brief short-sided trades if they setup. Watching the rest of the crypto space for some quick LONGS/BTD opp's if they follow BTC down heavy, but within the next few weeks/months,...
BCH is about to join BTC and the other classic coins squeezing shorts out of their bearish positions as it takes out the weekly 50 sma. It has lagged BTC, ETH, and LTC, but I expect BTC to take a little breather while the alts make a run for it. ETH holding over 200 also looks promising. Watch LTC smash through 100, that may spark some FOMO in the entire...
ETH is a pretty easy dip-buy here. Trade the trend. 200 should be next up, unless we see a significant close below the main trendline. Absolutely do not short this.
Bitcoin is at it again! Just like the last time, it's been a light-speed ride on the bitcoin train lately. Be prepared for some type of pullback anytime. We could see a low wick below $5k (maybe even $4.5k) but I'll be buying it, spread out over a few points. If we bounce again, it COULD be a very traumatic experience for bears....on the other hand, we may be...
After a well-timed brief profit-taking exit, I'm personally back long again a few cryptos, including big daddy bitcoin. Higher timeframes remain bullish, pulling back into the upward channel (gray dotted lines) and with a bullish cloud twist on the 4hr ichimoku, there's a good chance this dip is very buyable. One could wait for a breakout on the RSI above the...
This shouldn't take long to breakout now that 5k has been confirmed. I would NOT want to be short here....(I'm personally long again from 4940)
Bitcoin has at least 1 more bullish leg left before any significant pullback. Bulls are clearly still in control, as long as we don't get a significant close below the low put in on 4/3. Breaking and holding above 5k will trigger some serious FOMO. Expect 1 more parabolic upward thrust, then a 50% pullback or so. We could see as high as 7.2k in the next few...
COINBASE:LTCBTC Litecoin has been on a majestic bull run somewhat suddenly. Even when compared to bitcoin as seen on this LTCBTC chart, its been an epic couple of weeks. A few things I'm observing here makes me like litecoin as a multi-week trade. The floor of this chart is extremely healthy. A fib retracement from Dec '17 lows to the Feb 2018 highs shows...
Bitcoin COINBASE:BTCUSD is flashing bullish signals on the DAILY CHART! The Ichimoku system suggests buying dips in this 3700-3800 price zone over the next 4-7 days could be the last chance in a while to snag some under 4k. Higher lows on the hourly chart, the 200 moving average on the weekly chart, coupled with a kumo breakout on the daily could dial up a...
Take a look at some of the most heavily shorted alt-coins. XRP and BCH are 2 great examples. As BITTREX:BTCUSD Bitcoin prepares to breakout, some of the laggards are likely to follow suit. XRP (top chart) is approaching the very apex of a falling wedge and is severely oversold. The coming breakout could bring it as high as $0.95 in a matter of weeks. BCH is...
Gold (futures) are pulling back, and some might fear that there's a head & shoulder reversal pattern forming. However, I see it respecting Fib retracement lines. This along with a volume and RSI analysis suggests we are in a consolidation pattern. What happens at the next test of the 1300 psychological resistance is anyone's guess. Last time we had a false...
Potential topping pattern developing on SPY. Short the breakdown of the diamond top. I'd also be open to waiting for a test and fail above the daily 200 ma, as this has happened twice before (usually with a daily doji) but if we break down before testing above, I'll short that too. Longing a breakout here seems ridiculously greedy.
I'm short QQQ / tech here with Feb puts. We're seeing a likely repeat of the topping pattern from ATH's: Double top with a gap-down. Bearish engulfing candle and close below 50 sma on the daily chart confirms. Looking for about a 6% move or better. May resolve bullish after testing ~150 (red dashed zone) but watching volume, as heavy trading down there could...