The Bitcoin "mining" industry which sustains the infrastructure for the Bitcoin network can be compared to manufacturing. If we compare the price of Bitcoin to the Manufacturing PMI (which measures the sentiment among managers in the US) we can see a significant degree of correlation. While the potential causal mechanisms still require rigorous study, we can add...
Steve Eisman (depicted as Marc Baum in The Big Short movie) has publicly revealed the institutions he is shorting in anticipation of the next wave of credit normalization. They include RBC, CIBC, Home Capital Group, and Laurentian Bank. Steve has not revealed his targets or how far exactly the trade will go, so the estimates on the chart are my own.
As you know,...
Type of Trade: Cyclical
Pattern: Bullish Flag
How to interpret this data?
For longs: Altcoins (i.e., ethereum, litecoin, bitcoin cash, etc.) likely to underperform Bitcoin. Altcoin traders are likely to convert holdings to Bitcoin.
For shorts: Altcoins shorts likely to outperform Bitcoin shorts.
Confirmation/Entry: 124.46 (ideal) / 188.78 (early) / 227.89 (risky +)
Invalidation: Local high
Target: Three targets on chart
Pattern: 1) Weekly bearish impulse with 2) break of weekly EMA50, 3) death cross on daily, and 4) daily EMA200 resistance.
Weekly snapshot. Notice the trading between the EMA50 and...
Confirmation: 4040.86 (early) / 3916.87 (late)
Pattern: 1) three drive reversal with 2) previous bearish rejection candle (high risk of double top) and 3) weekly EMA200 resistance.
Breakdown of the channel will also breach the EMA50 on the...
BTC's dominance has been growing since the crypto bear market began at the beginning of 2018. Now we see a large flag formation that provides us with evidence that the dominance might continue growing. This also provides further evidence to support our forecast:
Once the BTC dominance starts to...
The technical level to watch on the Nasdaq is 6325, which is a major support level (.236 fibo). If breached, the index will likely experience a crash. Here is how this pattern has resolved in the past:
This is looking more and more like a potential financial crisis,...
Well the rally didn't go so well, which you can review here:
Instead we can look for a continuation of the trend as the bearish bias is very strong. A confirmation of the trend will force many dip buyers to sell.
Selling NVDA has been a good trade,...
Previously I posted a short trade for LTC following the November 2018 sell-off, but limited information invalidated the trade:
Now that the range is clear we can prepare to short this market again. Here's the weekly view:
Nice potential setup... I don't want to miss this one ;)
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK