Morning folks, Despite that JPow show was mostly dovish, stocks and BTC turn down. From technical point of view - it is not a surprise, because 28-29K area is strong weekly resistance area. On a daily chart we've got bearish reversal session, which makes us to watch for deeper retracement. Thus, we keep our 25-25.5K suggestion valid by far
Morning folks, We still doubt on upside BTC perspectives in long term, suggesting 35K as maximum upside potential. The common sense tells that Fed has started the banking crisis not to make crypto investors happy. They will grab all cash back, as they need it for Bond market and budget deficit close. Still, in short-term we're going with our H&S pattern and...
Morning folks, Running into "alternative" assets is continuing. Personally, I have big doubts on bullish perspectives of BTC, just because Fed has started this ciris not to make BTC holders happy. My suggestion that very soon party will be over and we hear screams "let me out". But, not now probably. Market starts new big journey with weekly/daily H&S pattern...
Morning folks, BTC has bounced up from predefined area that we've discussed on Friday, but under external circumstances (you know what they are) jumped above our 21.5K target. Right now we do not see any fundamental shifts in BTC background. Current banking crisis promises nothing good to crypto in longer term. We treat US Treasury "saving fund" creation as a...
Morning folks, So, everything goes with the plan - market was not even needed to form H&S pattern on intraday charts, that we've previously considered. As crypto-industry has got the 2nd hit after FTX from SilverGate bank, BTC just collapsed, significantly lower than our intraday target of 21K. Now we have to increase the time frame and watch on daily chart...
Morning folks, So, everything goes with the plan, that's why just two words - watching for neckline hit around 21.4-21.8K. Bears should tight stop and think about booking, while bulls have nothing to do by far, should wait when neckline will be reached, then watch for reaction and potential bullish patterns on 1H chart.
// WHICH PATTERN ON MMP GUIDE DO WE HAVE?// NZDUSD is currently showing a BULLISH CONTINUATION MM Pattern 5 in the MMP GUIDE. // HOW TO ENTER // Wait for NY to pullback close to the CP RISK ENTRY ;- LONG on a good rejection from CP CONFRIMED ENRTY;- LONG when we fix ABOVE BL (Baseline) // INVALIDATION // Use a 20-30pips STOP LOSS I will post money...
Morning folks, BTC was able to complete upside XOP retracement target, but overall action is choppy and slow, which suggests retracement nature. That's why we keep the same trading plan and consider short position with target around 21.5K area. Sudden upside breakout of 24.25K resistance means that BTC goes to 26K target and is forming upside 3-Drive "Sell"...
Morning folks, We're keep going with our H&S pattern. Since market was not able to form upside butterfly pattern, our H&S turns to 1.27 ratio instead of common 1.618. Now we're watching price action back to the neckline around 22K. There are few moments to watch. Price now stands at strong resistance area around 23.5K area. Normally it is enough to keep bearish...
Morning folks, As we've said previously - we're sceptic on current upside rally and still watching for reversal. Since BTC is still coiling around the top, we see rising bearish pressure, based on price shape performance. Our previous trading plan is still valid, as BTC still keeps theoretical chances to form upside butterfly. But, in fact, we don't care what...
The price movement is uptrend, we expect bullish rallies from previous touch on the trendline to target the next resistance zone, scenario will be invalid if the price break and close below the trendline.
Morning folks, Last time we've discussed big 4H H&S pattern, with potential Head top around 26K. This week is supposed to be tough - Biden speech, Putin speech, PCE, Fed Minutes, multiple PMI's etc etc. Our fundamental analysis tells to not believe in "easing of regulation". In reality, regulation is becoming tougher, as world is coming to introducing of CBDC....
Morning folks, Once we've wondered what could push BTC to 25K area - answer has come suddenly. Without intruding of external factor - overall background as technical as fundamental has not suggested and still doesn't suggest upside rally. So we treat this performance as not reliable. With strong daily resistance around 26-27K area and current overbought on...
Morning everybody, BTC performance looks bearish. It was not able to complete our upside AB-CD retracement on 1H chart and collapsed. Maybe coming CPI/PPI and other stuff could change the situation, but for now we do not consider any long positions. Daily trend stands bearish, and we have DiNapoli DRPO "Sell" pattern in progress, with nearest target of...
Morning everybody, So, as we are watching for pullback on EUR, GBP, Gold and other assets, we do not see any reasons to step aside from our scenario here. Our Monday's setup was completed well, as BTC once again has shown upside AB-CD retracement. That's why we consider another one, somewhere to 23-23.1K resistance area
Morning everybody, We have hoped that BTC completes 25K butterfly on daily chart, but it seems that situation turns different. Still, this is not vital, but technically it would be perfect, if this would happen. Anyway, as we expect that downside action continues on other assets, as we do on BTC. In nearest term we expect minor upside bounce (as on EUR, Gold as...
Morning folks, So, it seems that markets have heard only "disinflation" word from JP and missed everything else. We think that recent Fed comments were hawkish enough and euphoria will exhaust soon, when mispricing becomes obvious. Meantime nothing has changed in our mid term view - we're watching for reverse H&S on weekly chart and upside butterfly on daily...
Morning everybody, BTC now has no technical barriers for upward action to our major 25-25.5K destination point. Its not at overbought and has no Fib resistance levels ahead. Still, we have tough week with multi central banks decision, NFP and other stuff. And some external factor intruding could hurt bullish tendency. In nearest term, we think we have to keep...