MarcPMarkets

BTCUSD update: The 6320 inside bar high has been taken out which equates to a long trigger. Since then price has been slow to rally which is not surprising in this environment. Even though the inverted head and shoulders is still in progress, there is a lot of indecision. And this indecision offers opportunities if you know what they look like. Earlier today I ...

ETHUSD update: Price has tested the 423 reversal zone boundary for a second time. Following BTC, it appears this market is also gearing up to establish a higher low formation. There is now a new inside bar in place. If the next candle takes out the 442 high, it will activate a buy trigger and The next leg higher can run into the resistance zone around the low ...

BTCUSD update: Price has retraced to the 6300 area which is serves as a minor support. As I wrote in today's S.C. report, this market is in position to establish an inverted head and shoulders pattern which is a long term bullish sign. Since there are no specific triggers to go long, we are still waiting see if price offers a buying opportunity around the 6K ...

ETHUSD update: 482 pin bar low has been taken out which is a sell trigger according to our perspective at S.C. The lower high off the 494 to 518 minor resistance zone is the reason why we were not interested in any swing trade longs. The coming retrace will serve as an important test of the recent strength that has appeared in these markets. Price is near the ...

ETHUSD update: As price consolidates, the formation that is unfolding signals further strength. A break above 476 and this market will be facing the 494 to 518 minor resistance zone. Obviously a break out in BTC is key. We are more interested in any retest of lower prices for either a failed breakout or higher low scenario. Triangles are typically trend ...

BTCUSD update: Price has established a bearish pin bar after fluctuating around the 6431 to 6614 resistance zone. Like I wrote previously, this is a tricky area to enter new longs, especially with the 7120 reversal zone boundary coupled with a holiday trading environment. 6431 to 6614 is the .618 minor resistance relative to the recent bearish structure measured ...

ETHUSD update: Price is hesitating just under the 494 to 518 minor resistance zone after taking out the bearish trend line. This is a tricky situation because at first glance, this market appears to be forming a lower high and following the recent "trend". What is not visible is the probability of the location of BTC which we have been reiterating is bullish and ...

BTCUSD update: Inside bar formation leads to price spike into the 6431 to 6614 resistance zone. This should not be that surprising if you have been following my recent articles on S.C. and on here. The bearish trend line which was compromised in this move is the first confirmation that a broader bullish move is in progress. It all started with the pin bar 8 days ...

ETHUSD update: Inside bar has materialized which sets the stage for the next move in this market. With the bearish structure still intact, an attempt toward the 392 reversal zone boundary is likely. The structure to watch for though is a higher low formation between current prices and 392. This would be the bullish confirmation that a broader movement toward ...

BTCUSD update: After the 6170 long trigger, price tested the 6431 to 6614 minor resistance zone quickly. This also happens to be where the bearish trend line is located. This type of price action is not a surprise since we have been writing about the high probability location for at least two weeks now. The 6K psychological support, reversal zone boundaries at ...

ETHUSD update: This market is poised to rally. The break of the 443 previous candle high was a long trigger. I am not calling any trade ideas on here because that is what S.C. is for, but I will highlight the potential. Price went as low as 405 which looked ugly, but the key is how the candle closes. This candle that established the low closed strong, and it this ...

BTCUSD update: Price has taken out the previous spinning top low which is a bearish sign. Even though this is the case, the 6K and 5956 reversal zone supports are still in play. If this move fails to make a new low, this market will still be in position for a sharp squeeze. 5755 is the low that needs to be taken out in order to prove bearish momentum is still in ...

ETHUSD update: Similar to the bottoming pattern in BTC, this market is now in a high probability area to retrace. What makes this market even more interesting is the fact that the current low is still no where near the 374 low. A rally here is not only a broader sign of strength, but offers greater potential compared to a counter trend retrace. Earlier today on ...

BTCUSD update: Small retrace back into the 6K psychological support. The 6350 area is now a lower high, but if this market was going to sell hard, the bearish candle should have been larger. Instead, price stops at the major support which hints at a higher low. What I find most interesting is how the negative sentiment is at an extreme (judging by all the bearish ...

ETHUSD update: As BTC aggressively took out it's buy trigger earlier today, this market has not. 475.50 is the pin bar high that will signal bullish momentum is in effect. The lack of follow through is not that surprising given the general sentiment, but the probability of the location is still key. Earlier today on S.C., we sent out a swing trade long idea to ...

BTCUSD update: Bullish pin bar forming off of the 6K psychological support area. This should not be very surprising since the probability in this area favors such activity. Now is the time to prepare for the next leg higher. The first consideration is long potential. On S.C., we have been constantly writing about the opportunity at these lows for position ...

ETHUSD update: Short term price action is poised to test the 423 reversal zone boundary as an inside bar is now present on this time frame. A break of the 454 low would be the signal for further weakness, but as ugly as this market looks, do not lose sight of the broader location. When things look obvious, that usually means everyone is thinking the same thing. ...

BTCUSD update: Bearish momentum is still asserting itself and price may be entering the 5956 reversal zone boundary. Often movements like this will have the attention seekers out in full force screaming that 3K is coming. Pay attention to the price action and nothing else. In terms of probability, price is now in an area very attractive for buying, not ...