Good morning, traders. Today is the CBOE Bitcoin futures expiration date. Furthermore, price has been printing a symmetrical triangle since September 8th which mimics April's symmetrical triangle that resulted in the short squeeze. Shorts were at an ATH at that time and are currently near it as well. Now, much like then, retail sentiment is very bearish and the...
Good morning, traders. Bitcoin continues to move sideways, but for how long? Yesterday's downward movement that led to this sideways action appears to be a breakdown of a larger bear flag, which as I mentioned a few days back would have a target of around $5000. This would follow the AAPL 2009 pattern as I discussed last night, creating a spring, and if price...
Good morning, traders. We have made it to Friday once more and, as always, that means liquidity begins drying up for the weekend. Gold is nearing a bullish breakout and the DXY is struggling to remain afloat. This suggests to me that we are more likely to see Bitcoin heading up than down. DJI is a few hundred dollars away from filling the gap left in January of...
JSE:NTC has been in a downward stride that started in March 2015. Following the Wyckoff theory we see a selling climax in March 2017 and accumulation that has taken place until March 2018 when there was a change in character with signs of strength and the downward stride has been broken. The stock has backed up to the accumulation range and I am waiting to see...
Good morning, traders. It's Thursday and Bitcoin price continues to rise. Yesterday's breach of the descending broadening wedge and symmetrical triangle have produced a target of up to $6700. This would fill the price gap around $6670/80. Scattered above are pockets of over-leveraged, under-capitalized shorts which, when hit, will accelerate price appreciation. A...
Good morning, traders. After all that movement last night, price ends up right where it started at yesterday's update. It also shows you why I mentioned that I am paying attention to the DBW the most. Price hit the top of that wedge and then dropped back down to find support on the Tenkan line on the 4H chart. As with previous times before, this area continues to...
Komodo sitting at the bottom of a 1.5 month accumulation range
Upcoming rebrand (end of september) should be the catalyst to break the trendline
Stop losses at 14500 sats
First Rand (JSE_FSR) has been undergoing re-accumulation after decline which is the weakest type of re-accumulation. Price has jumped the creek and backed up to the trading range. There is now showing Signs of Strength (SOS) with lower volume. The stock has show prior leadership even thou it is not in the best performing sector. Will be looking for the breakout on...
After Capitec's (JSE_CPI) trouble at the beginning of the year the stock has been undergoing re-accumulation. It has jumped the creek and is showing Signs of Strength (SOS). The stock has shown prior leadership. Waiting for a back up to 95500 to go long.
Johannesburg Stock Exchange (JSE) Top 40 Index has undergone re-accumulation and broken out above the trading range (Jumped the creek). Now it has backed up to the creek and gone into a lower TF re-accumulation. Waiting for signs that it will break the back up range on the daily TF. For now it seems that it is still ranging.
The RSI, especially on the larger timeframes, seems to be one of the most reliable indicators out there.
On every big candle we have these days, the RSI gains & drops massivly in strength.
What's different now from before, is, that the RSI also loses a lot in strength during a dump. If you compare it to one of the earlier dumps this year (marked with the yellow...
Good morning, traders. After that shakeout at the end of yesterday, price has not returned to our previous accumulation zone. The question now is are we going to drop further? At first glance, that certainly appears to be the most likely course of action, doesn't it? But there are a few things you should be watching just in case it does not materialize. If you...
Good morning, traders. What a wake up call for those of us in the U.S. Bitcoin price drops $500 in the early morning. However, this isn't a surprise. During my recent live streams I spoke of the various gaps below and above price as well as price needing a retracement and that we would likely see $6800-$7200 depending on if price made one more push up before doing...
Good morning, traders. I'm trying a darker color scheme here, so let me know what you think. It is the beginning of the work week in the U.S. after the 3-day holiday weekend. Shorts jumped up over the weekend the short/long ratio currently stands at 1.1558. There are a couple of possible reasons for this: 1) big player could be baiting retail into shorting so they...
The stock relative to the Industrial 25 Index is showing leadership, has broken the downward stride and broken the accumulation range. Following the Wycoff logic we see accumulation of shares and a jump of the creek in Phase D. We are now waiting for a pullback to the creek, which is also the Yearly Pivot Point and 200SMA around 28000. Will be looking for an entry...
Following the Wyckoff logic Shoprite is ready to start to be marked up in Phase E. Following a backup to the trading range buyers have stepped in around 20000 to 21000. Looking for a markup to break previous highs.
Following the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But...
Good morning, traders. No big moves overnight, but we did test the recent highs around $7120 once more. Every time buyers push up into this area they are weakening the resistance by setting off the orders sitting there. So the shorts get triggered and then we see them getting absorbed which is why, even though we have watched extensive selling occur at these...
