stewdamus

stewdamus Updated 

Traders, Bitcoin is likely to start making daily lower highs this next week. Of course, we have another FOMC meeting coming up which will add a level of uncertainty and possible volatility. I have been hoping for a retrace down to that 64.8k level (ascending multi-year support/resistance) and I think we'll get it. Above I have the proposed path that price might...

stewdamus Updated 

Traders, There could be more liquidation on the way over the weekend. Therefore, I'll set my stops fairly tight on this trade. If I got stopped out, I would look to re-enter at around .70 cents. Obviously, my bet is that our support holds. Entry 88 Target 1.27 SL 70 RRR 5/1 Best, Stew

stewdamus

SUI has a nice Cup and Handle pattern forming here with little volume resistance on the upside and strong volume support on the underside. Provided BTC continues it’s lead upward, alts should continue to move. Entry is 1.60 with an SL of 1.37. Target before re-evaluation will be that C&H neckline at around 1.97.

stewdamus

Traders, A coin that is honestly one of my long term hodl’s has popped up as very bullish recently. My proprietary blend of indicators are all flashing green. I’ve been learning to trust them as they are doing very well for me recently. Additionally, you can see that VRVP is indicating we are now in the “value zone”. A nice “W” pattern is in play. And the RSI is...

stewdamus

Traders, I’ve been at work testing some new indicators lately and they have been working very well so far. I want to give them a true test in predicting a pullback, but so far, they haven’t had that chance. Anyways, right now, they are all flashing green on ORCA. And it makes sense too. We’ve cracked the top of that down-trending channel, signaling that an upward...

stewdamus Updated 

XRP has broken out and price now finds itself on the top side of our descending BLUE trend line as well as volume. With BTC bulls in full control, I am expecting more pumps in the altcoin space. XRP should be one of these.

stewdamus Updated 

Bico has found support in the price chart and on the RSI. I will buy this dip here and set my final target at 49 cents. SL will be 37 cents with a RRR of 4 to 1.

stewdamus Updated 

With BTC stabilizing above support, I think it goes to 70k next. This will drag ALTS up along with it. I am going to start dipping back into some of the previous positions which I was stopped out of with all the volatility. One such position was POWR. I like POWR here above the VRVP PoC and above that long-trending RSI support. I don't know if it will go to a...

stewdamus Updated 

Entry 1.37 Targeting 2.12 with profits along the way SL 1.18 RRR 4 This is an early trade for me as that Cup and Handle pattern has not been confirmed with a break of the neckline. However, I am betting on BTC to 70k and it will drag these alts along. All good volume is on the underside of MINA rn, so we should see quite an explosion to the upside once that...

stewdamus Updated 

I like Storj here at .80. Final target will be that BLUE trendline overhead. SL around .69 for a 3-to-1 rrr. With good volume on the underside and that bullish candle on the daily, I think Storj is in good position to fly. Alts are popping one by one and I think Storj has another turn coming up. The only downside here is that RSI. But lately, it doesn't seem like...

stewdamus Updated 

Matic looks to be breaking this larger and longer-term Cup and Handle neckline. Additionally, all of my proprietary blend of signals are flashing green rn. And finally, we have the bulk of our trading volume on the underside. Final target will be $1.75 with profit taking along the way. SL can be somewhere just below that descending blue TL, adjusting into time....

stewdamus Updated 

It's been over a year since I touched CULT. But now it finally looks attractive again. What I like about it are: #1 - Nice Cup and Handle Pattern which hasn't played out yet. Target will give us at least 25% profit. #2 - While many alts have already experienced massive pumps, CULT has not yet. #3 - Daily RSI is at a very reasonable level. Get ready because I...

stewdamus

Traders, Just a quick note to keep you abreast on my still bullish Bitcoin bias. As you know, previously, I had thought that we might get a pullback to 48k before continuation to our inverse H&S target of 80k. But that was only if we could not close above our multi-year support/resistance from 2019. The bulls pushed right through that, a feat that is rarely...

stewdamus

With the last little funds of my public portfolio, I am longing OSMO here. All signs are go and my target is probably way too conservative tbh. But we'll go with it for now. FT 2.20 Entry 1.66 SL 1.47 RRR 3/1 You can see we've exited a bullish triangle. Volume is on the underside offering great support along with that ascending channel. RSI is very reasonably...

stewdamus

Traders, I've been seeing a ton of traders who wanted to buy BTC at 59-60k but their transaction "failed". There is a reason why I am now calling BTC, Blackrock Trading Coin and why I have been extra cynical and skeptical about Blackrock's crypto trading exchange, Coinbase, as well as their entry into the crypto space via ETF. But I won't get into conjecture or...

stewdamus

Traders, The demand for BTC from these ETFs has been insane. The last I read on this about 2 weeks ago was that ETFs were demanding over 12x what miners could supply. And this is still pre-halving. Add to this the facts that only 24% of BTC remains liquid and there is continued institutional demand in other countries opening up and you can quickly understand from...

stewdamus

Traders, As you might know, I went short on BTC at 60,500. That was when price lived just under our Multi-Year Support/Resistance TL from 2019. Obviously, I was betting that we would NOT break straight through. I was wrong and as I told my followers in our private chat, I never mind trading a bit of humility for some profit. Bulls have clearly demonstrated that...

stewdamus Updated 

Traders, True to form, though I rarely do this anymore, I’ve gone short on Bitcoin. My entry was immediate after hitting that resistance level at $60500 which I discussed in the last post. Target will be $48,300 Stop out will be about $63,000 RRR is nearly 5/1 I am confident here so I’ve risked nearly 50% of the trading portfolio. But I will definitely be...