ETHUSD update: As BTC flirts with the low 6900 area, this market is being pulled along for the ride. Even in the face of significant BTC selling, this market is showing signs of resilience around the 400 psychological support level. Along with that, the likelihood of a double bottom formation is high. Earlier I published an article on S.C. and mentioned some...
ETHUSD update: A healthy retrace has taken this market back to the low 430's. We managed to avoid any premature entries during the period of random price action recently. And this pull back was what we were waiting for. Extreme prices are where probability becomes favorable. As I wrote in my previous S.C. reports, consolidations are areas where randomness is the...
ETHUSD update: Lack of follow through takes this market back to the low 450s. This comes after a buy trigger appeared on Saturday at 464. More interesting is the fact that BTC pushed higher while the majority of the alts remained weak. What happened to "follow the leader"? At S.C., we were able to save our followers from this lack of momentum that began with the...
ETHUSD update: Following the BTC surge, this market has reversed out of the 494 to 518 minor resistance zone which should not be a surprise. Now that a bullish trend line has also been established, it is more reasonable to expect supports to hold as this market continues. The 455 to 439 minor support (.618 of recent bullish swing) is the next area that we are...
Most People did not believe it would happen, and still don't. I have a prediction that I have all been hit and I have got a chance to get my goal. i bought ltc at $ 7 dollar and sell my $ltc at 310 dollars. since the price is downtrend due to btc bearish. While 99% of Trading View authors go with the Wind, changing their idea everyday, Moving Water stays on...
BTCUSD update: Price has retraced to the 6300 area which is serves as a minor support. As I wrote in today's S.C. report, this market is in position to establish an inverted head and shoulders pattern which is a long term bullish sign. Since there are no specific triggers to go long, we are still waiting see if price offers a buying opportunity around the 6K...
ETHUSD update: 482 pin bar low has been taken out which is a sell trigger according to our perspective at S.C. The lower high off the 494 to 518 minor resistance zone is the reason why we were not interested in any swing trade longs. The coming retrace will serve as an important test of the recent strength that has appeared in these markets. Price is near the...
ETHUSD update: Price is hesitating just under the 494 to 518 minor resistance zone after taking out the bearish trend line. This is a tricky situation because at first glance, this market appears to be forming a lower high and following the recent "trend". What is not visible is the probability of the location of BTC which we have been reiterating is bullish and...
ETHUSD update: Inside bar has materialized which sets the stage for the next move in this market. With the bearish structure still intact, an attempt toward the 392 reversal zone boundary is likely. The structure to watch for though is a higher low formation between current prices and 392. This would be the bullish confirmation that a broader movement toward...
BTCUSD update: Price has taken out the previous spinning top low which is a bearish sign. Even though this is the case, the 6K and 5956 reversal zone supports are still in play. If this move fails to make a new low, this market will still be in position for a sharp squeeze. 5755 is the low that needs to be taken out in order to prove bearish momentum is still in...
BTCUSD update: Small retrace back into the 6K psychological support. The 6350 area is now a lower high, but if this market was going to sell hard, the bearish candle should have been larger. Instead, price stops at the major support which hints at a higher low. What I find most interesting is how the negative sentiment is at an extreme (judging by all the bearish...
ETHUSD update: Short term price action is poised to test the 423 reversal zone boundary as an inside bar is now present on this time frame. A break of the 454 low would be the signal for further weakness, but as ugly as this market looks, do not lose sight of the broader location. When things look obvious, that usually means everyone is thinking the same thing....
BTCUSD update: Bearish momentum is still asserting itself and price may be entering the 5956 reversal zone boundary. Often movements like this will have the attention seekers out in full force screaming that 3K is coming. Pay attention to the price action and nothing else. In terms of probability, price is now in an area very attractive for buying, not...
ETHUSD update: Price has reached the bearish trend line and is now hesitating. This is not unusual and was expected, that is why we placed our swing trade target at 540. The question is: what is price more likely to do from here? Lower low? Higher low? Or continuation higher? In case you have not been following our swing trade on S.C., it reached its 55 point...
LTCUSD update: A strong outside bar has appeared in this market which can be the beginning of the next retest of the bearish trend line. The current hesitation though can be cause for concern, depending on how the candle closes. Keep in mind, this market is following BTC which means even in the face of bearish structure, the greater potential remains bullish. The...
ETHUSD update: When the day to day momentum dries up as is the case with these coins, it is always helpful to zoom out. This is where Elliott Wave offers a lot of value because it shows us where we are on the bigger picture map, and most likely where this market is going. People give Elliott Wave a hard time because they expect precision and that is not what it...
BTCUSD update: Symmetrical triangle has appeared after a series of inside bars. This continuation pattern implies lower prices, but the bigger picture location makes for a very conflicted technical situation. The break of this triangle points increases the possibility of a retest of the 5956 reversal zone boundary. Or just above that at the 6005 historical...
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