Lower high established off of 35,500 which points to a potential lower low (26K?) BUT 30K has YET to break decisively. Instead of REACTING to old information, we anticipate scenarios and then WAIT for the market to prove one. In this case, it would be a higher low off of the 30K area and new swing trade buy signal. ...
Bitcoin, stock market, Gold price action analysis. What clues can the charts offer for the coming week? Have a stock or market you want to see analyzed? Just ask in the chat.
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"...
Price action analysis and recap for Bitcoin, stock market and Gold. Have a question about a stock or market? Just ask in the chat.
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. ...
Bitcoin, stock market and Gold weekly price action forecast. What clues do the charts offer for the next few days? Have a question about a stock or market? Just ask in the chat.
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...
Bitcoin, alts, stocks and Gold price action analysis for the coming week. What clues can we gather about reward/risk? We will see what the charts say. Have a question about a stock or market? Just ask in the chat.
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...
Bitcoin, Ethereum, alts, stock market and Gold weekly price action forecast. What clues can we gather about potential scenarios for the coming week? Have a question about a stock or market that you would like to see analyzed? Just ask in the chat.
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...
Bitcoin, Ethereum, stocks and Gold price action forecast. Have a question about a stock or market? Just ask in the chat!
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...
Bitcoin price action analysis and weekly forecast. Have a question about a stock or market? Just ask in the chat!
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...
Bitcoin, Ethereum, stock market and Gold weekly price action forecast. Have a question about a stock or market? Just ask in the chat.
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...
Bitcoin, Ethereum, Litecoin weekly price forecast. Plus analysis of the stock market and Gold. Have a stock or other market you would like to see analyzed? Just ask in the chat.