MarcPMarkets

Ethereum update: A market that is weak sells off quickly. The bullish inside bar in this market is a sign of a fake out, and not a characteristic of weakness. On top of that, the current structure may be turning into a higher low formation. Bad for shorts. This is the first sign of improved structure since this market made an attempt in July. It is still too ...

Bitcoin update: Price action is holding just under the 6626 resistance level. This minor consolidation can establish a shallow higher low, but in light of the general conditions, follow through is less likely. In my recent S.C., article I talk about the herd's need for action. There are people that are in this for the thrill of the emotional highs and lows, and ...

Ethereum update: The retrace attempt may look impressive at first glance, but the broader structure provides a more sober perspective. A move from the 160 area to 224 is nothing to sneeze at, but how much did you have to lose in the process of betting on this random event? This is one of those situations where good is not good enough. Although the move to 224 has ...

Bitcoin update: Price consolidation presents a tricky situation. It is sitting above an important psychological support which makes it more attractive to buy, but the structure itself qualifies as a bearish continuation pattern. This conflicting information is a perfect example of when avoid a market. At S.C., we do not take trades for the sake of taking trades. ...

ETHUSD update: A close below 180 will put the 150 psychological support into focus. Since the short term Bitcoin structure is pointing lower, this bearish scenario is a strong possibility. At S.C., we promote defense, not forced trades or vague suggestions (and then proceed to take credit for being "right" after the fact). The majority of alts are in a ...

BTCUSD update: 6K support holds which should not be too surprising. In range bound markets supports and resistances are both likely to hold until one side eventually breaks. Imposing your own ideas and opinions on the market ("it's a bear market") rather than letting the market explain itself is what leads to succumbing to the herd mentality. Most "authorities" ...

ETHUSD update: Bearish momentum continues to maintain its grip on price as the 200 level is right around the corner. Structure has been very bearish in this market since July and why we have been sitting on the sidelines. Until this changes, best practices prevent us from doing anything else. The herd mentality is a fascinating thing. And it can be observed ...

BTCUSD update: Now you know why we avoid buying into highs. Price never reached the overhead resistance zone in the 7500's and has retraced sharply. The best thing to do in a situation like this is stand aside. At S.C., we evaluate everything in probabilities and follow best practices. It was clear that the risk was high as price got closer to the major overhead ...

BTCUSD update: Minor consolidation forming above the positive sloping trend line which is likely to lead to a bullish break out. Triangles are trend continuation patterns and so far the momentum as defined by price structure remains bullish. As price is poised to climb higher, our concern is the over head resistance located in the high 7400's and above (not on ...

ETHUSD Update: Even with the Bitcoin surge, this market cannot push above 300. Even though short term structure is attempting to improve, this market looks like it is leaning toward a bearish continuation more than anything else. At S.C., we have been bullish on Bitcoin. We bought at 6189 when the herd of "experts" were sure it was going to 5K. We still own some ...

BTCUSD update: Price is hesitating just under the bearish trend line that has been established since early August. While at the same time, the bullish trend line is also still intact. Which way is it more likely to go? In my recent Bitcoin article on S.C., I explained the increasing risk of retrace as price pushed into the 7Ks. There is no reason to buy into a ...

ETHUSD update: Price is beginning to perk up as Bitcoin pushes the 7K level. 300 continues to serve as a psychological resistance and does not offer an attractive location to buy by our standards. In fact, this market is still relatively weak compared to Bitcoin since it has not made a new high. At S.C., we are still waiting for these markets to at least show a ...

BTCUSD update: Price is having a tough time pushing through the 6800 level which can be interpreted as a sign of weakness. This market has been the most resilient and if it retraces it will likely take many of the alts below their support levels. At S.C. we had a long position in BCH expecting it to outperform BTC during the recent squeeze attempt. Instead of ...

ETHUSD Update: New buy trigger appears while Bitcoin steam rolls toward its next high. Price is now challenging its steeper bearish trend line which is a positive. BTC is doing its part which is what we have been anticipating, while the concern is alts like ETH are still underperforming. This relationship can be interpreted as a sign of relative weakness which ...

BTCUSD update: Short squeeze erupts into a vertical move that takes prices to 6900 in a matter of minutes. This was the scenario that we were anticipating which we shared with our members a week ago. The swing trade that we called at 6189 was taken out at 6824 which was our predetermined target. As price continues to stabilize, we are on the look out for the next ...

ETHUSD update: Bearish momentum revisits the 270s and points to the possibility of a new low. When viewed through the lens of BTC, the not so obvious argument for a failed low shines through. This conflict offers clues about the hidden strength of this market and in our opinion not a good idea to short. I published an article earlier on S.C. that goes into more ...

BTCUSD update: It appears price action cannot make up its mind upon first glance. A break out attempt around the 6600 level fizzles out as short interest climbs even further. On the surface this may "feel" bearish, but the internals are still pointing to higher prices. At S.C., we focus on probabilities, not feelings. Feedback from a cross section of our members ...

ETHUSD update: Since the close below 300, this market has proven to be one of the weaker alts. In typical fashion price is now finding resistance upon retesting the 300 psychological level. Any further recovery will likely be lead by BTC which is in a stronger position. At S.C., we shared a swing trade idea to go long BTC with members because we believe that is ...