Good morning, traders. As discussed on last night's live stream, Bitcoin is starting to show some retracement which it needs in order to continue further appreciation. The more controlled the retracement, the more bullish it is. Remember, even though we've had some great bullishness recently, it could potentially be a corrective sequence before a continued bearish...
Good Monday morning, traders. Last Friday I warned, after the shakeout, that I wouldn't want to be short as it appeared the larger interests were filling longs. Fast forward to today and here we stand this morning at about $300, on average, higher than that shakeout. So what does this mean for our current situation? Are we going up or down? After this morning's...
Good morning, traders. The week is winding down but Bitcoin appears to be heating up. Overnight we saw price dip down to around $6128 on Bitfinex. As mentioned in the live streams, this has been a possibility and it took price to the 61.8% fib area which is perfect for getting the most bang for your buck out of a retracement. Taking a look at the 1H chart, we...
Good Wednesday morning, traders. Bitcoin has managed to hold support at the S1 overnight, as I mentioned yesterday it was likely to do, and appears to be attempting to push higher. A bounce from this level has the potential to be quite bullish with everyone calling for a failed rally already, but it hasn't failed...yet...which means it bears (no pun intended)...
Good morning, traders. I hope you had a relaxing weekend. Apparently Bitcoin has no chill which has traders quite confused, but we've actually received a lot of information over the past few days if we've been paying attention. Bitcoin closed the July 7th daily candle above the daily pivot. A breach of the pivot from below, and subsequent close above, is...
There has been much conversation about shorts being at all time high. This is only part of the puzzle as longs are also slmost at their highest. Based on the above chart my interpretation is 13k Longs are out of the money with a price range between roughly 14k down to current prices 19k Long Majority are in the money prices between $0 and current Prices the...