Good Tuesday morning, traders. Bitcoin continued to move up overnight and has hit anywhere from $7055-$7126, depending on the exchange. This brings it to the resistance that we discussed during last night's stream at around $7086. But now what? Shorts don't appear to be taking the move too seriously as they haven't really begun covering yet. This signals to me...
Updated my triangle from linked idea, this is looking way more right to me. $6666 in the middle #doggonacci
BTC - Accumulation on macro level looks good so far. Current rounding bottom is looking very strong Red lines are resistance points that i expect to be respected and stop a rally or give support once broken DO NOT TRADE UNLESS YOU AGREE WITH MY TA, I'M NOT AN EXPECT AND THIS IS NOT FINANCIAL ADVICE! MAKE SURE YOU HAVE GOOD RISK MANAGEMENT FOR A LONG TERM PROFIT!
Good morning, traders. I am finally back online. We got the fiber wired into the new place in San Antonio so I hope you were able to catch last night's stream. If so, then you know the overnight movement didn't surprise me as price pushed through the top of the pennant that I discussed was forming at the time. We did see price wick above the high of that pennant,...
After roughly a 1000% run from its ascending triangle back in Dec 17 - Jan 18, BITFINEX:XRPUSD now seems to be dying a painful death to those who haven't looked at it well enough. Bitbloxx however does not believe in letting such opportunities slip. After thoroughly analyzing the historic chart, we came up with the following technical observations: 1. $0.32...
Good Friday morning, traders. We saw another attempt by the market to push price up and through the $6450-$6650 resistance but the sell walls were dropped in when it did. Ultimately, we saw a high of $6562 this morning with a sharp sell off immediately afterward that led to a low of $6405. The high was at the dashed horizontal resistance line that we've had in...
Good morning, traders. Overnight, we saw price move as I outlined it might during last night's live stream. It broke out of the ascending triangle and reached the resistance of the descending broadening wedge. TensorCharts.com shows resistance building again today, currently around the $6340-$6360 area as well as $6600, $6650, $6700, $6800, and $6850. This is the...
The most recent highs on the SPX have printed bearish divergence on the RSI - as price has now failed to breach local highs in the short term, I would suggest we will see a break of the trend line to the downside on high volume. This will form our phase C of the re-accumulation I suspect Is occurring at the time of writing. The nasdaq has printed a double top...
Good morning, traders. It was a rough Monday for some of you, I'm sure. Those who have been following my live streams knew yesterday was a distinct possibility and, hopefully, were prepared for it. I continue to preach the importance of risk management so that traders don't get caught when price swings opposite their anticipated direction. The question now is has...
Good morning, traders. It's Monday and time to get the trading week underway. As pointed out during Friday's daily live stream (where we always go into greater depth concerning price action), Bitcoin appears to be following April's pattern. The same can be said with the shorts/longs ratio. While there are no guarantees, it does give traders something to watch as...
Bear in mind that it is likely that we are going to see a bounce of the whole market in the coming weeks. However, this is a long term potential road map. We are looking at Bittrex for longer price history. I have separated the history in cycles each lasting around 344 days. The beginning of the first cycle is not the actual low but is just where Ethereum enters...
Good Friday morning, traders. The end of the week is here and Bitcoin appears to be setting up for a large move. Many traders were shaken out overnight by the drop in price and remain even more skittish now. As I mentioned during last night's live stream, yesterday's daily candle printed an inside bar which most often precedes a strong movement. While that...
Good Thursday morning, traders. Things start becoming interesting now with the weekend just a day away and daily RSI sitting on oversold. If you have been tuning into our daily live streams, then you know I have discussed the various possibilities presenting themselves at this time. Daily oversold often provides a bit of a decent bounce for price, at least, though...
Good Thursday morning, traders. I'm sure many of you have thrown in the towel and believe price MUST absolutely make new lows. Remember, price does not HAVE to do anything, especially not what retail traders believe it needs to do and that is why retail traders often end up buying the top and selling the bottom. While I am not convinced in which direction price is...
Good morning, traders. Bitcoin appears to be working on the bounce that I discussed was more likely than not during the live stream last night. However, we must remain aware of the potential for a dead cat bounce rather than a full reversal of what may just be a corrective leg down since the $8500 high. This recent upward momentum has pushed price above the...
Remember, all corrections take the same general path as they are all the result of human beings and their unconscious reaction to fear and greed. They just take longer or shorter depending on the movement prior, and the movements may be more or less exaggerated. This comparison in no way suggests that price will definitively do one thing or the other. It is...
Good morning, traders. It's Monday and we are back to the charts. Bitcoin moved as I stated it would, in Friday's live stream, if it didn't head up from the point it was at, and spent the weekend trading within a range as it dipped into the $6800 demand zone a few times (~6900 being the 6H S2 pivot). Overnight, the BTCUSD pair challenged the range by closing above...
Good morning, traders. Price dipped a bit further than expected, but so far is acting exactly as I discussed it was likely to do. We saw strong absorption on the drop as indicated by the large volume and appear to have found the bottom, for now, at around $7450. This provides two possible scenarios if price is to continue upward. The right chart shows the...