We managed to avoid the fake out off the 12K resistance and removed our limit order that we had sent out in the mid 11Ks in case the bearish momentum off the high followed through. Yesterday's bullish candle close suggests selling is very limited and that price is likely to find a support above the 11K area. IF this new higher low stays intact, Bitcoin may have...
#OMGUSD has gone vertical, following along with the recent surge in capital flowing back into alt coins. As usual, there is hype everywhere, no different than when Bitcoin was pushing toward 20K back in 2017. Human nature is what drives ALL financial markets and it does not change. I write this to offer some technical perspective and clarity in order to help you...
Bitcoin has been in consolidating near the 11,600 to 12,300 resistance zone and today has taken out the high of yesterday's inside bar. Based on our swing trade rules, this is a new buy signal, BUT we choose NOT to participate. Why? Aren't all buy signals equal? They are not. Although the trend is CLEARLY bullish, the location is NOT ideal in terms of the...
Bitcoin lingers within the 11,600 to 12,300 resistance zone. This can be interpreted as a sign of strength since resistance often asserts itself quickly. As a result, price appears to be developing another triangle which can act as a trend continuation pattern and it may break higher this week. If we get a new buy signal, price is now in a position to test the...
Bitcoin showing bearish engulfing candle (outside bar) which can be interpreted as a MOMENTUM reversal (not to be confused with a TREND reversal). The broader structure is still BULLISH which means probability continues to favor longs. This does NOT mean we can just buy at any price. The objective is to ANTICIPATE the next inflection point or support level where...
I normally update Bitcoin, but there is NOTHING to say except that it's still gyrating near the low of the broader range, and we are still long while waiting for it to break higher. MEANWHILE, there has been some unusual and interesting movement in some of the alt coins which in a way reflects the speculative appetite of investors in this increasingly frothy...
While Bitcoin and the well known alts continue to cure most trader's insomnia, Chain Link has taken the spot light. Once this alt broke out from it's previous resistance of around 5, it has been vertical. If you are new to trading, I would like to welcome you to another fine episode of the HERD mentality in action. Can this thing go to 10 over the next week? In...
U.S holiday price action appears to be playing it's part in Bitcoin's slow price action, but this doesn't change anything. Bitcoin is in a consolidation within a broader BULLISH trend since April. Price continues to probe range lows which does NOT provide any evidence of progress or TREND on our time frame of interest. Keep in mind weak markets BREAK supports,...
Bitcoin is NOW in a much more attractive location when we consider the reward/risk and probabilities based on our long only swing trade strategy. For those who insist we are in a bearish trend, make sure to check the structure on your larger time frames, because there is still nothing bearish about this market (trend is a subjective word that is relative to time...
Bitcoin continues to linger in the range. So much for overly dramatic and reactive bearish predictions. Hopefully by now you are beginning to realize that opinions, especially those that are based on emotional tendencies are not helpful to hold onto. In this video I will explain the TECHNICAL reasons why we continue to be bullish, and how we select a price when...
Bitcoin price action is beginning to lean to the negative side, BUT that does NOT qualify as a trend reversal relative to our long only swing trade strategy. The recent minor sell off to the 9K area is nothing more than range bound NOISE. A trend unfolds in a way that makes progress, it does not gyrate within the middle of a 1400 point range for long periods. As...
Bitcoin recently sold off from the 10,400 high resulting in the usual run of the mill overly bearish REACTIVE predictions which may have convinced you to sell. Please realize, it is not their fault that they are unable to see the bigger picture. Reacting to price information is a very common mistake and a mark of inexperience. The first thing we told our followers...
The Bitcoin consolidation between 9564 to 10168 resistance zone and the 8500 area support is still in play. As I have been mentioning in previous videos, this pattern is typically a trend continuation pattern, and the bullish trend is STILL intact. In this video I will highlight the context behind the setup we would like to see in order to share a new swing trade...
Bitcoin has found some support in the lower 9Ks, but is NOT yet providing a clear buying opportunity in terms of price structure and setup. In previous analysis videos I have been anticipating a range bound price formation and that appears to be what Bitcoin is producing at the moment. So how are we going trade this in terms of our LONG only swing trade strategy?...
Bitcoin didn't sell off like many were ranting about a week ago. Instead, it found support around the 8500 area (like I wrote about) and produced a very aggressive buy signal which we mentioned but did not take around the 9000 area. So you may wonder, if we are so bullish on Bitcoin, why would we not take a new buy signal? It all has to do with the RULES that...
Bitcoin retraces out of the 9564 to 10,168 resistance zone, but no reason to over react. The resistance zone that has been on my charts for months is a location that favors such a move, and is why we have been reducing our risk by taking partial profits at predetermined targets (8K and 9750). The mistake to avoid here is to get confused by all the bearish hype...
Bitcoin pushing into the 9Ks after printing a bearish pin bar upon Friday's close. Nothing showcases strength more than a market that lingers around a resistance area. With the Bitcoin reward halving on the horizon, all of the coming hype will likely reflect positive sentiment and limit the potential of any bearish signals along the way. This is all good for those...
Weak markets do NOT linger around resistance areas, they sell off quickly. That is what I regularly remind our followers who are still long Bitcoin from 5750 and 7025. Is price in a vulnerable area? Sure, but until it produces a clear sell signal on the time frame relative to our LONG only swing trade strategy, there is nothing to do but let the winner run. In...