The Bitcoin price continues to look weak. Volume has generally been light and technical indicators such as MACD continue to decline. I modified this chart from my previous one () in a few ways: 1) Moved the descending portion of the triangle up slightly toward the candle wicks. This lengthened the triangle. I think this better reflected the price action. 2)...
USO continues to form a rising wedge which will ultimately create a larger selloff. Until the larger pattern forms, price's range will tighten in the pattern which is now poised for a selloff. The combination of the spinning top candlestick and the stochastic rolling over will bring lower prices in the near term but not for long as the distance between the...
The moderate rally in gold prices and GLD should not be interpreted as a rally per se but GLD forming a small continuation pattern such as a flag or pennant. The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD will make...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...
Friends, Today, I tweeted several signals and commentaries on this pair, looking at a smaller 4-hour timeframe, compared to this bird's eye daily view - Here is the original signal: twitter.com The interest in the first 4-hour timeframe had to do with the development of a bearish Kiss-of-Death, which carries a high rate of success in moving in its intended...