MarcPMarkets

MarcPMarkets Wizard

Bitcoin has broken the 38K minor resistance and has tested the 40K whole number. The entire range between 38 and 40K is a resistance zone. Based on my thought framework, I place more emphasis on the probability of a short term bearish outcome from this level. This means risk for new longs is even HIGHER than it was at the 38K minor resistance. Based on this idea,...

MarcPMarkets Wizard

Bitcoin range is confirmed between 35K and 38K (see blue rectangles on chart). As I went over in my previous article and stream, assign probabilities to these levels UNTIL one of them breaks. Since the broader trend (price structure) is still BULLISH, the resistance area (38K to 40K) is favored to break while the 35K support is more likely to hold. Using these...

MarcPMarkets Wizard

Bitcoin has rejected the 40K area resistance swiftly over the previous week but that bearish momentum has also failed to follow through. What is going on here? This can be a bullish consolidation as long as the minor support at 35K stays intact. The higher probability opportunity in this case would be a double bottom or failed low off of the 35K support (see...

MarcPMarkets Wizard

Bitcoin has pushed into the 37K resistance and has yet to produce a meaningful pullback on the daily time frame (see my recent articles). There is another momentum continuation pattern that has yet to confirm on the daily time frame now (inside bars). Upon a break of 37,500K a new long signal will be in effect which can lead to a test of the 40K resistance. For...

MarcPMarkets Wizard

Bitcoin is exhibiting signs of exhaustion around the 35K resistance area. A failed high can potentially develop here which can lead to a retest of the 32K support AREA over the coming week. This activity should not be too surprising since it appears to be motivated by rumors rather than reality. People love throwing around opinions and pointing to explanations...

MarcPMarkets Wizard

Bitcoin has generated a new swing trade long signal on the daily time frame upon the break of the 26,250 candle high (couple of days ago). This is a momentum continuation pattern and it can lead to a test of the next resistance area around 37K over the coming week. This context is ideal for day trades or swing trades only, these are far fro ideal levels for new...

MarcPMarkets Wizard

Bitcoin short squeeze continues to the 30K resistance. In terms of momentum this move is significant and should shape smaller time frame strategies, BUT the bigger picture is another story. New resistance is the 31K AREA, new support is 27.5 to 28.5 AREA. Based on the new developments in price structure, I suspect a potential test of 31K BUT I believe a break is...

MarcPMarkets Wizard

Bitcoin has chosen the scenario that I outlined in my previous analysis. The evaluation was based on the 28.5K resistance area that has yet to be compromised. IF momentum stays intact over the coming week, a test of the 25K support area is within reason. On that note, there are two inside candles in place with an established low of 26,500. A break of this low...

MarcPMarkets Wizard

Tough price action for both longs and shorts in Bitcoin. Drawing perspective from the bigger picture can help to assign probabilities to a narrower range of outcomes. This is not an attempt to forecast the market with an absolute certainty, instead it is a way to prepare for a variety of scenarios that Bitcoin may choose at any moment. First let's consider the...

MarcPMarkets Wizard

Bitcoin continues to respect the 27,500 area resistance. IF this continues, it suggests that a more bearish scenario is likely to unfold over the next week or two (see drawing on chart). Based on recent price structure, price can potentially test the 25K support area yet again. What I described here is context. Add to that the recent lows on bond prices, and it...

MarcPMarkets Wizard

Litecoin is poised to test the low 60's over the coming week. My trade scanner has called a signal to go short from 64.90 with a stop at 66.25 and take profit at 62.90 approximately. This was shared yesterday around 6:30 PM EDT. These signals are private but I am sharing it here so that as a community we can evaluate the context and observe the outcome. Having a...

MarcPMarkets Wizard

Bitcoin has spiked back into the high 26K resistance. While this is a minor resistance, price can go EITHER way from here. So how to navigate the risk around this highly random situation? The first decision you must make is: are you conservative or aggressive? This will shape how you interpret the price action that COMES NEXT. Having a rules based system helps...

MarcPMarkets Wizard

Lower highs often lead to lower lows. If 25K is cleared on Bitcoin, 22K becomes the next relevant support area. Situations like this can be very confusing, but in this article I will explain the mental framework I utilize to effectively shape expectations and manage risk when facing technical conflicts. First we must ALWAYS accept the fact that markets are MOSTLY...

MarcPMarkets Wizard

Bitcoin price action is NOW beginning to present the setup that I have described two weeks ago. It goes to show how WAITING is better than reacting. Even now, with the current setup, I am not in a hurry to put on the swing trade because of the suspect environment. Knowing how your strategy performs in a specific ENVIRONMENT is more important than just having a...

MarcPMarkets Wizard

Bitcoin is consolidating around the 25K AREA support and continues to maintain a bearish bias on smaller time frames. As we go into the 4th week of August (the SLOWEST week in terms of volume probably for the year), I continue to WAIT for the double bottom or failed low BEFORE I even consider a swing trade idea. I continue to remind my followers that this is NOT a...

MarcPMarkets Wizard

Bitcoin news takes everyone by surprise and breaks 28K support. My swing trade from 29,600 got stopped out at 28,300. While stop outs are never expected, they SAVE money in the long run. This is a very valuable lesson for short term traders who don't respect stops. My max exposure was 1300 points, while price went lower by 5K points. I can only imagine all those...

MarcPMarkets Wizard

Bitcoin is in the process of establishing a higher low formation around the 29,300 area on the daily chart. Higher lows often lead to higher highs. In this seasonally slow time of the year, a major catalyst will have to come along in order to create enough momentum for a higher high to be realized. In this context, a reasonable level to expect for a higher high is...

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MarcPMarkets Wizard

How to use the search box tool for beginner traders and those new to the platform. In this session you will learn: how to access the search box, how to input symbols, how to search for symbols using relevant keywords, how to narrow your search using the asset categories and how to apply math functions.