I mentioned in my last BTC post that I was looking for BTC to set a higher low on the weekly compared to 5858 and then for bulls to take over to set a lower high.
BTC is bouncing from 6119 and has changed the 4hr uptrend for the first time since the dump on September 5th. For me to be confident that the weekly higher low has been established and for bulls to...
Flat-bottomed broadening pattern on the monthly timeframe. OBV has not been supporting the price action that led to the last two all-time highs. MACD has crossed bearish on the monthly, and monthly RSI is showing a failure swing after coming out of overbought levels. If it breaks bearish there is no monthly support until 120.00. Zooming into the weekly timeframe...
I'm watching QQQ for the possibility of longer consolidation which could give nice opportunity to play some of the tech names bear. At this point I am only expecting healthy consolidation in QQQ, so far I see nothing to indicate a change in the bullish trend.
*****I'm using solid trendlines for log scale and dotted lines for linear scale. This should explain why...
BTC has is dropping dramatically after slowly grinding upward for several weeks and breaking bear from a rising wedge. It has established its weekly lower high at 7429 and like I said in a previous post I now am looking for it to find a weekly higher low compared to 5858. After that, I would expect to see it continue to tighten on the weekly timeframe, even if...
I was looking at stocks on the weekly timeframe and noticed several tech stocks that could be in the late stages of bull moves, judging by the slope of their ascent on the linear scale of weekly charts. I have no idea when this will end, and when it does end I don't know if it will just signal mild consolidation on these individual stocks or more extended...
BTC finally broke down from the rising wedge with huge volume. Currently, we are seeing bulls try to bounce from daily 26/55EMAs. Like I mentioned in previous posts, I was looking for btc to set a lower high on the weekly timeframe and then pull back to find a higher low. I have exited my short positions because I feel the price action has dropped too much in a...
Tradingview has deleted all of my drawings on the BTCUSD Bitfinex chart so I have to start fresh (THANKS OBAMA).
BTC currently in a 4hr equilibrium pattern after encountering several EMA and MA resistances on the daily and weekly timeframe as I mentioned in my last BTC post. I have drawn a potential rising wedge with two potential top boundaries. Throughout the...
BTC appears to staying within a 4h channel. It appears that we might be forming a bear flag on the weekly, and we need to continue to see diminishing volume if the pattern is to play out. The price action still looks weak because BTC is slowly grinding upwards with a lack of impulsive behavior as it breaks resistances, accompanied by declining daily volume....
