Good morning, traders. Price remains within the upper half of the local TR. Ultimately, we are still watching for price to move beyond the bounds of the larger, 4H TR. CBOE Bitcoin October futures expire today at 2:45 p.m. EST, so we may see some volatility. As always, traders should remain cautious around expiry. The 15 minute chart shows price within a...
Following on September's analysis (link below) the backup has taken place and the markup is continuing with HH and HL. We see an ease of advance with large spreads. When supply has entered the market there has been effort without response (OBV declining without a similar price decline) indicating the buyers are absorbing the supply. Also notice the narrow spreads...
Good morning, traders. Price has continued upward as anticipated yesterday. However, this does not mean that we don't have to consider the possibility of a move down. The premium on Bitfinex is beginning to subside a bit, although it still remains about $300 higher. Price has stuck around the top of the TR, but sell pressure sits at $6450-$6500 with another layer...
Good spot to long $CHK if you are a Wyckoff student. This accumulation trading range has produced significant cause with conservative projected target of $24. 9 buying tests: 1. Downside price objective accomplished? Yes 2. Preliminary support, selling climax, secondary test? Yes 3. Activity bullish (volume increases on rallies and decreases on reactions)?...
Over 90% away from its ATH and an accumulation pattern underway, can't help but feel Tron is due to show us its strength. Accumulating middle-term and long-term already. First sign of a true reversal would be price rising above the 200DMA shown by the blue curve.
Good Monday morning, traders. What a crazy bit of movement from Bitcoin overnight with Bitfinex/Binance hitting a premium of over $500. However, as always, be wary of CryptoTwitter as individuals will posit all sorts of guesses as to what happened but act as if their guesses are truth and have been proven as such. Ultimately, there was simply more USDT supply than...
Basically buy this accumulation range and start taking profits at 300 sats, which is roughly +200% profits.
Good morning, traders. We've made it to another Friday and Bitcoin hasn't died yet, which is always a good sign. Novice traders seem to hold as truth a complete misunderstanding of the market -- that things in the market happen randomly. This kind of thinking leads to emotional trading which results most often in a loss. Market moves are measured and purposeful by...
Good morning, traders. Everyone is freaking out because of last night's drop, but in the grand scheme of things it was only about 4%. So why the fuss? Because traders are scared that price will go down and remain down. However, if you are a trader then whether price is going up or down should make no difference, only that it's moving so that you can profit. If you...
Good morning, traders. The Bitfinex BTCUSD/Binance BTCUSDT premium has now reached $80-$90. Poloniex BTCUSDT, Bittrex BTCUSDT, CEXIO BTCUSD, and HitBTC BTCUSD have joined them now as well. Historically, this type of premium amongst most of these exchanges has been due to withdrawal issues related to the exchange. Most recently we saw this occurring in Q2 2017 as a...
Good morning, traders. Bitcoin's range continues to tighten as traders become restless. Don't allow this lack of price action push you into making an emotional decision. If you are actively trading at this time, then you should already have a plan in place. And if you have a plan, then you shouldn't allow emotions to change it. Currently, we can see price...
Good morning, traders. It is Columbus Day in the U.S. which means professional traders are enjoying a 3-day weekend so volume is lighter across all financial markets. This includes the crypto market. After another lackluster, sideways weekend, Bitcoin finally pushed up and through the resistance of the July triangle this morning. The question is, can price remain...
entries marked out are arbitrary on this one try to accumulate as low as possible without a break and close under 560 sats (green line) on the daily strong FA on this one too. 1st target 930 2nd target 1370 disclaimer: I am currently not in this trade.
Tencent: short-term short, long-term long Based on what have I observed for the past few months, tencent's price is on a short-term bearish trend caused both by its under-expected earning on online games, China's regulation on online game industry overall, as well as the elephant in the room, trade war. Short term wise, RSI negative reversals are coming on...
MTL in an accumulation range with steadily rising OBV and increasing buy volume. Tight BBs show that its very likely to have an explosive movement upwards soon. Analysis can be seen on the chart
Good morning, traders. We have made it to Friday once more and Bitcoin continues its sideways shuffle. However, I don't believe that will continue for much longer. During the live streams you have heard me say that I feel like we could see a move as early as this weekend, but if not then the most likely outcome will be to see it within the upcoming week. I...
Good morning, traders. Well, Bitfinex maintenance came and went without much fuss this morning. There was a bit of a pop (around $40) but that was it. Good news to those who were buckling in for a potentially wild ride. As we know, yesterday saw Bitcoin surging upward and through the resistance of the descending wedge projecting a target of the 1H R1 pivot at...
Good morning, traders. Bitcoin is doing what Bitcoin does lately -- continuing to consolidate. We are getting a good rally from last night's reactionary low near $6400. This morning we can see buying pressure pushing price back up toward $6500. Bitfinex has been carrying a bit of a premium and continues to do so this morning as it is sitting about $50 higher than...