Happy Monday. It seems the season of change for Bitcoin may be upon us in the near term, which again seems counter-intuitive considering the current news cycle. Nevertheless, it can provide some excellent buying opportunities for cold storage at excellent value as Distribution pushes forward. With that, let’s get into the Trading Analysis… The 15M Intraday...
Happy Friday. It seems the season of Bitcoin may be changing, which of course seems counter-intuitive considering the current news cycle. While the market seems to be preparing for the next legs down, on the fundamental side, it seems Bitcoin is finally getting its due. Recently the acting Comptroller of the Currency Brian Brooks solicited input from the public...
Happy Thursday. Sometimes it’s amazing just to see relentless pressure to push the PA higher. Seems now Bitcoin is being taken even more seriously as a competitor to conventional fiat currencies - Enough so that Bitcoin Core has just released a new experimental software update called “Asmap” which is designed to hedge the chain from potential malfeasance and...
Happy Wednesday. I hope everyone ended up relatively unscathed with the boomerang Bart action this past Monday evening. Never a dull moment trading Bitcoin. It’s interesting to see the discussion around digital currencies begin creeping into the US elections campaign narrative recently. Two days ago, US Representative Cynthia Lummis had a very wide-ranging...
Happy Monday everyone. This morning on CNBC I came across an interesting article about the current global dollar shortage and the moves the FED is taking to provide access to dollars during this massive (and temporary) surge in demand. It’s fascinatingly counter-intuitive in light of the recent waves of money printing from the FED and the US Treasury. A Global...
Happy Wednesday everyone. I woke this morning not only to a breakout above the Redistribution trade range this morning, but an interesting Tweet from Barry Silbert about the slides in the Goldman client call this morning as it relates to Bitcoin. "We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a...
Hopefully, everyone managed to have a great Memorial Day yesterday filled with a little bit of the normal we are all looking forward to returning. Looking at the Intraday Chart, the formation appears to remain solidly within a second Wyckoff Redistribution. After the Selling Climax (SC) at $8,640 established the floor of the Redistribution trade range, the...
Happy Memorial Day to those based in the US. I’m hoping for a fun day filled with BBQ and all the other requisites a lazy summer holiday should require. Hopefully, everyone managed to find a short position before the next Wyckoff Distribution leg took hold. Looking at the Intraday Chart, the Wyckoff re-Distribution range did not take long to play out. Once the...
It’s been an interesting 24 hours or so with Bitcoin as the PA has been largely confined to a very tight trade range. Much as it can suck waiting for a definitive move, patience is the better part of valor in these scenarios to avoid getting chopped up. Looking at the Intraday Chart, it appeared as though demand came back into the market and established an...
My hope is most were positioned in a short for that drop to the $8,800, got a chance to cover and move into a long to enjoy some of the bounce once the bottom of the new TR was established. Looking at the 4H Intraday Chart, supply came into the market and pushed the price of BTC to a low of $9,300 before recovering to the $9,600 level and subsequently falling to...
Much like yesterday, my hope is that regardless of what Technical Analysis you use, either you were positioned short or sold at the top before the second leg down of the Wyckoff on the never-ending quest for the low end of the trade range at $8,120. Looking at the Intraday chart, the Low Pole Reversal first hit the 50% reversal target of $9,440 before pushing...
Always interesting times in the world of Bitcoin. My hope is that regardless of what Technical Analysis you use, either you were positioned short or sold at the top before the 3% correction earlier today. For about the last 16 hours or so, the 4H Intraday chart has been reflecting a price pinned beneath the upper trendline on increasing volume, while the lows...
The green arrow was a crazy dump, and we're now entering it's price box, so it's the first test of an area shown to have a ridiculous supply. That being said, volume is reducing, as price is going up...so Supply is being absorbed, a Bullish sign. I just posted about how I think we're at a key juncture....That post was about Gann Fan and it's findings....This...
Looking at four attempts to break through recent support I'm compelled to go long.
The close on Friday left was appears to be a "Hanging Man" candlestick. With this occurring during an uptrend this could potentially be a bearish warning sign. We must wait for the confirmation of the CLOSE of trading on Tuesday to find out whether this candle is bearish or not. For confirmation to occur Tuesday's closing price must be below the LOW of Friday's...
Just recording my thoughts on btc with P&F Counts. Usually use 3 Box Reversal, been watching 2 Box for a while, would like to see how this plays out.
Look for biotech stocks to start performing well. Price targets are noted on the chart. Bollinger Band shows a squeeze in this area as well.
Valero Energy has been consolidating since early December after a pullback. The support level from a prior high established back on April 25th continued to hold as the price is just starting to break out from the level established on November 2, 2018. A purple dotted line will mark where a previous break out attempt failed so all longs will want to see the price...