BTCUSD update: New low made at 8342 which has taken price through the 9280 support and the 8659 reversal zone boundary as bearish momentum persists. Now that the market has made a decisive move, and compromised important levels, it is now reasonable to consider the possibilities of a range bound environment. As I wrote in previous reports, in order to go long,...
BTCUSD update: The 9208 support level is still in play as price action unfolds as a spinning top formation (at the moment). It is too early to call this a bullish reversal, but price is in a high probability area for such a scenario. If the market produces a spinning top like the one visible at the moment, it will then complete an inside bar...
BTCUSD: Bearish momentum is in play now that the previous bullish trend line and 10754 support have been broken with conviction. This bearish scenario is still limited by the structure that this market is within which offers two specific levels to watch for a reversal. This kind of move scares people which is good for others who want to buy at better prices. In...
BTCUSD update: Price action is still being lead by bearish momentum, but the range of the most recent candles are tightening. Even though this may not appear as anything unusual, because of where it is occurring, we can get an idea of what is likely to happen next. In terms of the wave count, and impulse structure, the Wave 1 high was 9074, and so far the current...
BTCUSD update: 10429 minor resistance has held and price is now retesting the 9600 support. Unless this market can show a reversal formation on this time frame, price is likely to push lower. Like I highlighted in my previous report, the lone bullish candle (that at the time of writing was a spinning top but closed stronger), was never able to close above the...
ETHUSD update: Price action has been under performing the BTC market in terms of the recent bullish move. This market did not break its overall bearish trend line, and has formed a minor lower high at the 955 level. This means short term bearish momentum is in effect which decreases the likelihood of the 824 support holding. Lower highs often lead to lower lows....
ETHUSD update: The shallow higher low structure across the coins is lacking follow through that used to be much more common in these markets months earlier. Is this the beginning of the next bearish leg? Or is the higher low consolidating instead? It is important to understand that after the type of sell off that occurred recently, markets often don't just...
BTCUSD update: 8427 resistance decisively broken, so where is the steep rally? A retest of supports is necessary to "prove" that the bears are no longer in control. At the moment, a shooting star candle formation is unfolding just after pushing the 8427 level that I have been writing about. And if this candle closes in this configuration, it is a bearish sign....
Crypto bubble: Consolidation. That is what it means. During these consolidating(bubble) times, advanced patterns form; increasing the chance of a successful trade set up. RSI shows that there may be some more bullish momentum and retracements before this Bear Gartley is completely filled. I take profit at structural support levels.
Erhmmmm I think we're going down this time below $5K mark! Maybe we'll get to see a C.A.P.I.T.U.L.A.T.I.O.N..... For this bear cycle is only ending at the end of February 2018.
BTCUSD update: New low of 6K reached as these markets go into the Senate hearings today. From a technical perspective, price is in the middle of the largest support zone of this market without any supportive structure in sight. In this report I will review what this market has to show in order to confirm stability and more importantly how to manage emotions during...
LTCUSD update: Bearish momentum continues to hold these markets back, while this market is the only one showing a potential higher low formation. In a situation like this, it is best to be more conservative until solid reversals materialize, especially if you are long. I have been building a position in BTC in this environment, positioning for the broader...
ETHUSD update: Judging by the bigger picture, this market has not sold off as dramatically as the others. In fact, price has rejected the 872 to 739 support zone twice, leaving behind long wicks in both instances. Although this market can retest lower prices, it is in a relatively better position to rally. In this report I will highlight the possibilities both...
Hi Everyone, Actually, I have been saying BTC would fall since DEC 6TH 2017, just check my previous charts on BTC. Well, finally 10k support has just been broken, and price has lost MA 1000. Next stop should be 8700. It should struggle for a while until it goes for the final target: 6.999. About my Strategy: All the strategies that I tried learning around...
BTCUSD update: Dramatic new lows break below the 8656 boundary of the broader bullish support that has been in place for some time. Sure it looks ugly for longs, but do not panic. The next support area is 8171 to 4983, but this does not mean we are going that low. Here are a few things to keep in mind as this sell off unfolds. Sizing. Now you know why when I take...
LTCUSD update: Bearish momentum leads price deeper into the major support zone of 186 to 138 area. In this report I want to highlight two levels that offer new buying opportunities IF a reversal pattern materializes in the near future. Buying opportunities? Why would I be looking to buy in a "bear market" ? The reason is the time horizon of the trade I am taking,...
BTCUSD update: Price pushes into middle of broader support zone and is held up at the 9683 reversal zone boundary. In situations like this, recognizing the magnitude of the larger time frame levels allows for more effective decision making. Small time frames look bearish. The move off of the minor resistance zone (11871 to 12316) looks dramatic compared to recent...
BTCUSD update: Price could not push through minor resistance of the 11871 to 12316 area and appears to be getting weaker once again following the establishment of yet another lower high. The price action is weak, BUT it must be considered in light of its location within the bigger picture. As long as it stays within this generally supportive area, minor pullbacks...