Good morning, traders. Bitcoin has continued to consolidate as expected and, in doing so, has printed a pennant/symmetrical triangle. Based on the height of the flagpole, price should be targeting the $4250 level once price closes above the triangle's resistance. But traders should also be aware of the $4110 target based on the height of the triangle which puts it...
Good morning, traders. Bitcoin surprised a lot of people with its moves over the weekend, but not you, right? You've been paying attention and not allowing emotion to get in the way. As I have been mentioning was likely, Bitcoin finally pushed through $3950 and found initial resistance at $4040. Remember, I warned you to remain mindful of that $4050 level. What...
Bring your Shiff Fork, this ones Fight Club Style. Looking in on BCHUSD reveals some Mid-to-Short Term Shiff Pitchfork (minus the pitch) action with an array of confirmations. Price action seems to be caught in a crowd gathered pit fight, and the range is ' the low 120's ' (low) and ' the high 130's ' (high). A move down from the .25 Line would likely...
Good morning, traders. As mentioned yesterday, price finally started moving upward overnight, but a small H4 gap at $3854.77 now remains. We have a recent clean break of the H4 RSI ascending triangle and have met resistance, once more, at the top of the local TR at around $3900. H1 RSI is just now hitting overbought, but I am still looking for an initial move up...
The outline in red shows the trading range pattern for MELI stock on the daily time frame. The highs of this range are remarkably level for a trading range. The extreme low rebound is lower than prior range lows. The compression of price before the gap up is a particularly important pattern to watch for in a trading range market condition, to anticipate a...
Good morning, traders. Price has continued to move well yesterday and into today, hitting our third target (based on the height of the flagpole) at $3945 while pushing through the 50 and 100 day MAs. Most TFs are overbought at this point, including the daily. Yesterday's volume continued expansion, which I have been mentioning for a while now that traders should...
Good morning, traders. The battle between supply and demand rages on. Bitcoin's price dipped to near the bottom of the local TR at $3364 and has since rebounded back toward the top of it at around $3445 so far. The fact that much more demand is showing up at the bottom of the TR than supply at the top should have the bearish among us concerned. I'm still looking...
Good morning, traders. Yesterday, I advised our Discord members that I didn't like how price action and volume were acting around the $3450 range and was looking for price to target the $3400 level. Price made one more attempt after I stated that to rise higher, but then printed a bearish SFP and found support around $3400 which is the H4 S1 pivot. The move down...
Good morning, traders. I know everyone wants to be bearish because it's easy, but that's also why so many retail traders lose money -- they want to take the easiest route. While I'm not stating that the lowest point is definitively in, I am going to say that current price action on the H4 and higher charts is looking more bullish than bearish at the moment. We...
Intel is moving rapidly to capture the 5G market, along with Verizon. This was discussed in detail in our recent annual Virtual Course, this time on Emerging Displacement Technologies for the Next Decade. INTC stock has been struggling at a support level, not moving down much but also without a strong pre-earnings run as many blue chip companies enjoyed. The...
Good morning, traders. As you may be aware at this time, the VanEck ETF was pulled so there will be no decision in February. Normally, such news would've seen Bitcoin drop a few hundred dollars at the very least and if we listen to the most emotionally bearish among us we should've seen a drop through the 2018 lows. However, we only saw a drop of $40-$50 as price...
Good morning, traders. There hasn't been a lot of action over night. As discussed during yesterday's live stream, Bitcoin's current price position has supply and demand searching for enough liquidity to get a trend going. Yesterday's drop and $200 rebound appears to have led to the printing of a flag. If so, then the target is the same supply zone that rejected...
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe - 1-2 Days Actions on - A – Activating Event Currency Pair creating a Double Top . B – Beliefs Market will be rejected at @1.299 level and move towards the first Target 1 level @ 1.2835 FX_IDC:GBPUSD Trade Management Entered @ Sign up for details Stop Loss @ Sign up for details...
Good morning, traders. Bitcoin continues to trend slightly lower but has yet to make a strong, continual move down. This morning we saw price drop, hit demand and rebound just under $200 very quickly. There is no doubt that moves like this are causing traders to lose money as their stops are taken out. The market is attempting to find/create liquidity to get price...
Good morning, traders. We did see a bit of movement this weekend, which we will be taking a look at on this H1 chart. As I warned during Friday's live stream, traders had to be aware of the $3780 area as possible resistance, even though the target based on the triangle was higher. Sure enough, price was rejected at $3774 and then printed a bullish SFP at $3470...
Good morning, traders. Nothing has really changed since yesterday. Today we are taking a look at the H4 Bitfinex chart. The red lines draw an almost perfect diamond pattern. McGinley Dynamic is currently sitting just above price which is bouncing off support at the moment. The targets based on the diamond are shown, as are immediate supply and demand zones. RSI...
Good morning, traders. Yesterday we took a look at the larger TF and today we will check out what the smaller TF is saying on the Coinbase chart. I have outlined the black TR, red possible flag, and the blue diamond that is currently printing. We can see that price is nearing a decision point. Does it go up or down? Price is at the bottom of the TR and possible...