BTCUSD update; Bearish candle leads this market right back into the middle of the broader support zone of the 10534 to 8656 area. This area is overlapped by minor support and reversal zone boundaries. The key to timing this is waiting for the supportive price action to return.
First, I am long and intend to stay that way because that is part of my plan. This is...
BTCUSD update: Lower high increases the possibility of the failed low attempt around the 9683 level. To break this bearish bias, price needs to push above the 12346 minor resistance zone.
Even though a higher low formation has been established above the 9989 area, that does not guarantee we will get the new rally back to 15K or 16K. It increases the chances...
BTCUSD: Price fluctuating inside a major support zone and hesitating within a minor overlapping support area. This area presents very attractive reward/risk for longs, but can it break lower?
Big difference from the vertical markets of a month earlier, but this is reality. This is more in line with how markets trade. The good news is price is within a projected...
ETHUSD update: Lower high established at the 1160 level which is not far from the 1216 to 1304 resistance zone. This formation is appearing across the main coins and signals further short term weakness.
This is the trading environment as I described weeks earlier. Vertical markets breed bad habits and now is when the bad habits become expensive. As I wrote in my...
ETHUSD update: Dramatic retrace takes this market back to the 872 upper boundary of a larger magnitude support zone much faster than expected. Price is now in an area that offers better opportunity on the long side, but price stability needs to present itself.
My long at 1311 got stopped out at 1243 which protected me from 400 more points of pain. What you are...
BTCUSD update: Price retests 11600 range low area in a dramatic bearish move, which in my opinion is an attractive area to look for position trade longs because this is where the weak hands are shaken out.
The 11600 area is a key level because it has been bought up from that point since mid December which makes it a significant range low. It is also just above...
ETHUSD update: Minor support area near 1291 being tested while there is no significant reversal structure in sight. Based on the current price action, this retrace can be labeled as a sub wave 4 which implies one more attempt at the highs before a broader correction is reasonable to expect.
For those who are newer to utilizing TA, it is important to understand...
BTCUSD update: Price action fluctuating within 12879 to 13786 support zone while presenting another double bottom reversal formation. Even though the momentum is still bearish. this area and the range lows (11600) offer a more attractive buying opportunity for longer time horizon strategies.
The first observation to consider is that this market is in a broad...
LTCUSD update: Price action has been consolidating and is now showing a reversal pattern within a projected resistance zone near the low of the range. I am now long (50% position size) from 230.01 This is a position trade that I intend to add to if price pushes extreme lows.
What is a position trade? It is a longer time horizon trade that requires less precision...
BTCUSD update: Price retests the 13786 to 12853 support zone after failing to push through projected resistance. This is a trading market.
I have written about this since the overdone rally in December: unrealistic markets reinforce bad habits and warped expectations and the results are very apparent if you read some of the negative feedback that I have been...
BTCUSD update: Higher low in progress just above the minor support area of 12483 to 12139 as bearish price momentum continues to maintain control. Now is the time to watch carefully for a swing trade long entry.
As I wrote about in my previous report, there is an infrequent broader reversal structure in play. The subsequent resistance level has been taken out...
BTCUSD update: Triangle and minor support broken as bearish momentum carries this market to retest the 11600 low. Price is now hesitating at what could develop into a triple bottom support. Buying now is still attractive for longer time horizon positions.
In my previous BTC report, I highlighted the lower high and what possibilities it implied. The market chose...
BTCUSD update: Lower high established at 15131 which sets up this market for a possible retest of the 12ks or maybe even lower. It also confirms a broader triangle formation.
Lower highs often lead to lower lows. It is not a guarantee, but an increased possibility. The 14400 resistance level continues to be tested, but there is a bearish outside bar that has been...
BTCUSD update: The 16350 resistance zone stays intact while price retests 13145 which is within a minor support zone. Is this a good retrace to buy? Let's consider the scenarios.
First, price has held the 13269 to 12581 support zone which is the .618 area relative to the recent bullish swing. At the moment price action is consolidating just above which can unfold...
LTCUSD update: The price action is similar to the other major markets. They are all unfolding into a head and shoulders like formation on a broad time frame. These formations are tricky when they appear within the context of a generally strong market. In this report I will explain the scenarios that would be most attractive for my trading plan.
Many who are less...
BTCUSD update: In an attempt to reverse higher, price pulls back into the 11600 low while falling from 14200 resistance level. Is price going to retest the 17K area resistance again any time soon?
At the moment, price is fluctuating just above the 12310 to 11620 minor support zone which is relative to the .618 of the recent bullish swing measured from the 10700...
BTCUSD update: From 19830 to 10700 in two days, basically a 50% retrace. Instead of worrying about why, my focus is evaluating where and when to buy.
The market is a harsh teacher. People who jumped in near the highs expecting this market to go to 30K are now learning about risk. All the coins are retracing 20%+ in a matter of hours. The good news is this type...
COINBASE:ETHUSD presents two bearish harmonic patterns in this generally bearish crypto saga :)
Fundamentals and Technicals appear to be in conflict in the crypto world hence making it hard for anyone to accurately predict the direction of any crypto market. These are certainly very risky markets and of course just like any other market, there are no absolute...
