MarcPMarkets

MarcPMarkets Wizard

Bitcoin clears two relevant resistance levels within a week's time. Noteworthy for sure, but no reason to get overly excited. Whenever moves like this occur, those who look to prey on the ignorant start proliferating fairy tales. Stop following frauds who hide behind fake names to avoid accountability. My goal here is to shed some light on reality so that you may...

MarcPMarkets Wizard

Before you go all in on the "Bitcoin is going to 50K" typical retail herd mentality hype, consider an objective (and more professional) perspective of this recent Bitcoin rally. Before you put money at risk in this game, it is very important to consider the source of the information you consume. Here are some important technical considerations for the coming...

MarcPMarkets Wizard

Bitcoin continues its lack of progress gyrating around the 17K range mid point now for another week. Even after the NFP outcome which moved other major markets, Bitcoin continues to be uneventful. If best suggestion I can offer in this situation is do NOT force trades. There is always going to be nonsense forecasts, and unreasonable article or video titles to...

MarcPMarkets Wizard

A bear market combined with holiday trade is NOT a good recipe for trade ideas. High probability opportunities, particularly on the swing trade time frame require a catalyst, along with decent order flow. As you can see, over the previous two weeks, there was NO follow through. I have enough experience to recognize this environment and I warned my followers...

MarcPMarkets Wizard

While my swing trade short idea in Bitcoin has not reached its break even stop since I suggested the adjustment, I have suggested that people in the position close it at market (16,850 area at the time). While the profit (approx +755) was not able to justify the risk, it is better to mitigate risk rather than hope for big wins in this environment. In other words,...

MarcPMarkets Wizard

As per the swing trade plan that I described in my previous article, I shared the swing trade short idea from the 17,595 level after the FOMC outcome on Wednesday. If current momentum continues the profit target can be reached this week. (I'm not sharing specifics here). Those that are in it, nice job, those who are not, now is NOT the time to be chasing this. I...

MarcPMarkets Wizard

All eyes on the CPI report coming out on Tuesday. This is a key report that the Federal Reserve considers when it comes to adjusting interest rates. And right after that, the FED meets on Wednesday to announce their next interest rate decision which is followed by the all important press conference. What does all this mean for Bitcoin? Price action is likely to go...

MarcPMarkets Wizard

Everyone seems to think they have the FED figured out. The "herd" consensus seems to believe the Federal Reserve will have to ease off the hawkish agenda and not raise rates as high as previously implied in order to avoid a major recession. Chairman Powell comes out with this speech over the previous Wednesday just AFTER a major holiday in the U.S. I do not...

MarcPMarkets Wizard

No catalyst, no momentum, especially in the midst of holiday mode. Typically this time of year carries a general sense of optimism but is no where near as dramatic as a year ago and there is plenty of good reason for that. If you are confused by this, you are mostly likely viewing the market from the typical egocentric novice retail trader point of view. Stop...

MarcPMarkets Wizard

Bitcoin price is now consolidating between the 15K and 18K range. The 18,500 range high has established another lower high in the context of the bigger picture. As long as this level stays intact, it would be unreasonable to expect a spectacular bullish outcome ANY TIME SOON. What is reasonable? A test of the 14K to 12K support area. In one of my recent streams,...

MarcPMarkets Wizard

Great lessons to learn about risk, perception and how easily the herd is mislead in the most deceptive industry in the world thanks to FTX. Were you exposed to this unexpected event risk? My recent sell signal (mentioned here) from 20,250 reached its profit target and then some. Price is now within the 17K to 14K support zone which I have been accounting for since...

MarcPMarkets Wizard

Higher low now established off of the 20K area. Usually higher lows often lead to higher highs and many fake gurus will be screaming for your attention to let you know the bottom is now in. While it may be emotionally appealing (like pizza), there are a number of factors that must be considered before arriving at such a conclusion. Here's the objective point of...

MarcPMarkets Wizard

Bitcoin played catch up over the previous week and went from what appeared to be relatively weak to a dramatic short squeeze that has tested the low 21K area (thanks to a strong S&P). Is the bottom in? Are you going to be lured into this "bull market" as a result of the emotional appeals made by all of your favorite fake gurus? Before you succumb to the fear of...

MarcPMarkets Wizard

The stock market (S&P) put in a dramatic bullish reversal on Friday (it does NOT matter why). Bitcoin is generally correlated to the S&P, and while it has tried to follow (tested 18,600 area low, then produced bullish pin bar), it's performance is subpar. Where is the squeeze? Where is the short covering? This lack of participation can be interpreted as RELATIVE...

MarcPMarkets Wizard

After a week of potential catalysts, Bitcoin is STILL gyrating around the same prices. The bullish pin bar that appeared on Thursday (result of CPI report) has been followed by a bearish pin bar which cancels out the momentum. Meanwhile NOTHING has changed in terms of the broader price structure OR economic environment. While Bitcoin appears to be out of play,...

MarcPMarkets Wizard

Bitcoin price structure continues to point to lower levels even though this market is out of play. Out of play means it is a good idea to avoid it (especially on smaller time frames) until momentum reestablishes itself. In this article I want to point out some important considerations when attempting to time Bitcoin in this environment. Before I get into that,...

MarcPMarkets Wizard

Bitcoin price action has produced numerous buy and sell signals that go nowhere. How best to interpret this? Objective answers come from price structure and context which I will explain in this article. Most importantly. In these situations, RISK must be accounted for on both sides of the market. Bitcoin is consolidating between the 20,500 resistance and 18,500...

MarcPMarkets Wizard

Since the 19,500 swing trade sell signal (previous article), Bitcoin has offered about a 1K+ profit potential, but barely enough to justify the risk (depends where you placed the stop). Either way, price refuses to break 18K and has even attempted to print a conflicting signal (bullish pin bar) which could have justified an aggressive long. As a swing trader, what...