MarcPMarkets

MarcPMarkets

The 34,500 support has been compromised BUT price has not yet closed decisively below the level. The 33K to 35K AREA is STILL a potential higher low location which has yet to show a new buy signal. A break back above 36,500 would satisfy the criteria while still offering attractive reward/risk. As price continues to look ugly, it will cause many to "react"...

MarcPMarkets

Bitcoin is now within the potential higher low price area that I have been anticipating. A new buy signal may develop here upon the close of the current candle and break of its high. More importantly, the reward/risk continues to be attractive. On the other hand, IF price takes out the low of the current candle, a 30K test is still a reasonable possibility. ...

MarcPMarkets

Bitcoin continues its indecision between 40K and 33.5K. I wrote previously that if 40K cannot be decisively taken out, then the 33.5 or the 30K supports are likely to be tested again. The lower high established at 40K is in line with the potential bearish momentum continuation pattern scenario. Lower highs often lead to lower lows (unless the market can prove...

MarcPMarkets

Bitcoin may be in the process of establishing a higher low formation. IF the current candle can close green, and then take out its high during the next candle, a new buy signal will be in effect based on our LONG only swing trade strategy. How does this compare to the recent bearish price structure? Buy signals based on candle formations are only one part of the...

MarcPMarkets

Have you bought the recent pullback because it seemed like the right thing to do? Maybe it seemed that way because everyone on Twitter was doing that also? When it comes to any financial market, "conventional wisdom" or what may "feel" right is often the WRONG thing to do, even if the market randomly rewards you for such a behavior. In my previous article, I...

MarcPMarkets

Buy signal is developing at the moment but requires confirmation which means we have to wait for the close of the candle. The 48K to 50K AREA is a high probability support zone which offers attractive reward/risk in terms of our LONG only swing trade strategy. Bitcoin gyrated between 53K and 59K for weeks, and while others were OVER reacting to the noise, I kept...

MarcPMarkets

While Ethereum has reached for 4K, Bitcoin has made no real progress for weeks. I can only interpret this conflict of price leadership as a red flag in terms of the broader trend. Yes the space is still generally strong and full of froth, but why the absence of buying on Bitcoin? I actually don't care why, all I care about are levels and probabilities. The fact...

MarcPMarkets

Bitcoin stuck while Ethereum continues to flirt with highs? Maybe ETH is taking the lead but all the coin drama aside, the only thing that really matters is RISK, no matter what coin, time frame or strategy. If you can't evaluate and respect risk, you can't win in the long run. This space is still enjoying a frothy and complacent cycle which at some point will...

MarcPMarkets

This is why you don't step in front of a market that has yet to confirm. Bitcoin has entered into the 50K to 47,500 area bullish reversal zone. It took about 3 weeks from the previous peak to get here, but as I remind our followers regularly, PATIENCE PAYS. This is where infrequent and higher probability opportunities develop, NOT near highs. How many people were...

MarcPMarkets

Bitcoin clears 58K support and goes straight to the 51K area. If you read my recent articles on here, I warned over and over that the risk was too high in the 60Ks. One very simple rule kept me out of this: I don't buy highs. Now maybe you will better understand what I mean when I say RISK FIRST. How many gurus steered you the wrong way with the typical hype and...

MarcPMarkets

Ethereum got everyone's attention (and money) as it made an attempt to push 2200 on Friday, but no one seems to effectively address the risk. The 2000 to 2200 AREA is a high risk and highly vulnerable area for new longs. A retrace from this zone can see a test of the 1800s in the coming week. The upper blue rectangle represents a proportional reversal zone. It...

MarcPMarkets

Bitcoin refuses to sell off even though price has rejected the 58K to 62K resistance zone. While the current candle has yet to close and prove its strength, the fact that there is no bearish follow through increases the chance of a successful break out and trend continuation. The next inflection point is in the 66K area. The reversal zone boundary (large blue...

MarcPMarkets

If Bitcoin can't clear the 57K resistance, another test of 50K or lower is likely to follow in the coming week. The risk based on the time frame that we follow for our LONG only swing trade strategy is not worthwhile. The buying attempt off the 50K support (which I wrote about previously) is in line with the broader trend, BUT the current price action is NOT in a...

MarcPMarkets

Sell signal off the 58,500 area but no follow through means it is too early to react (or over react) when it comes to judging the short term direction of Bitcoin. Shorter time frame oscillators may be bearish, but they FAIL to account for the price structure that is still intact on the bigger picture. Since the 48,500 buy signal that we shared (and I shared here...

MarcPMarkets

Yes new all time highs, but after you get over all the hype and hoopla, you cannot ignore the highly vulnerable price area where Bitcoin is now trying to reverse. Was this most recent leg off of the 46K area a Wave C of a corrective B? IF price action confirms this, most traders and investors (especially those who just bought into this) are blind to the magnitude...

MarcPMarkets

New swing trade long signal has been developing since yesterday's close and will become active upon a break of the 49,500 level. With the higher low established off of the 46K area, it is within reason to anticipate at least a test of the 57K peak over the coming week. So what can go wrong? Plenty. Since the 57K peak, it is possible that Bitcoin is in the early...

MarcPMarkets

Why is the Bitcoin pullback not turning higher? Did you buy the retrace because the hashtag was trending on Twitter? These are the type of moves that expose those who talk a good game from those who know what they are doing. We shared an aggressive swing trade long idea that required Bitcoin to push 48,500 in order to become active. The price was never touched...

MarcPMarkets

The 66K area is the next inflection point IF the current rate of momentum can follow through. The question is are you willing to take the risk? I have posed this question before at much lower levels and many investors are extremely frustrated because the market refuses to pull back and offer a more attractive price to enter. So what to do now? There is no...