Bitcoin breaks the 8K support, takes out the previous 7290 low and pushes into the 7275 to 5464 broad support zone. What does this price action mean in terms of the bigger picture and is there still a buying opportunity here? In a recent video, I pointed out that we treat trend and momentum as two separate elements when we evaluate Bitcoin for trade possibilities....
Bitcoin showing some tough price action after the short squeeze we had a couple of weeks earlier. The minor consolidation above the 9K level could have been argued as a sign of strength (higher low) but that gave way to more selling which brings us to where we are now. With lack of follow through so common in this environment, is it within reason to anticipate a...
Bitcoin consolidating again after the dramatic short squeeze to the 10,200 area. In fact, there is a sell signal in place as I write this, but is Bitcoin a short? Those that can appreciate my analysis and perspective know that answer to that, while everyone else chases 5 minute charts. In this article, I will update the relevant levels in play and what we are...
Bitcoin is now poised to push into the 9Ks thanks to the development of the higher low formation around the 7830 area which coincides with a triple bottom as well. Formations and price structures are just another way of expressing probabilities and these patterns clearly favor higher prices at the moment. In this article I will highlight the elements that keep us...
We have been long Bitcoin for just over two weeks, and today it has generated a second buy signal in terms of our swing trade strategy. Since price action has been very random and indecisive, we will not add to our swing trade long, because there is no need to increase our risk. In this article I will point out what has changed since the short squeeze off of the...
Based on our swing trade strategy, a buy signal was generated on 9/30 at 8425. Since then, there has been no follow through which is not all that surprising in this environment. By recognizing bearish momentum still has greater control, we were careful to compensate for the elevated risk by taking a smaller position. Now we have two simple choices: exit the long...
Bitcoin breaks below the 9K range support and after 3 months, this market is showing some progress. I wrote in previous articles that such an event would allow us to adjust our outlook and that is what I am going to share today. Keep in mind, our perspective is focused on longer time frame strategies such as swing and position trades. If you are capable, avoid...
Bitcoin continues to elude any decisive price action which keeps it contained within a developing higher low formation. Evaluated from a broader context, the higher low and the fact that the 9750 major support is still in play provides a bullish bias. In this article I will focus on how we navigate a consolidating market and why we ignore sell signals. A trend...
Bitcoin continues to consolidate but still offers helpful clues as to the near term direction of this market. The key to utilizing these clues is in the ability to understand how they fit into the broader market context. In this article, I will evaluate these clues in light of the current market conditions and further explain how this information guides our own...
Bitcoin is hesitating at a minor resistance zone which is a tough spot of both longs and shorts. Our recent series of trades have been mixed. A stop out, followed by targets reached, followed by a stop out again. At first glance this sounds like a negative outcome, but we actually came out ahead in terms of profit and that is because of our particular money...
A Bitcoin sell off does not always mean it is trending, it is all a matter of perspective. If you focus on one hour charts, you will see a trend, but what happens when price reaches a level that carries greater weight in terms of support? We regularly remind our followers that it is the probability of location that serves as the best guide. We shared a long...
Bitcoin is still NOT in a trend relative to how we evaluate the bigger technical picture. This piece of information alone serves as an important guide when it comes to managing our recent swing trade long. The aim of this article is to provide insight into the best practices and mindset that has produced consistent results throughout the recent bearish and bullish...
Bitcoin has recently generated a new swing trade long signal which we are managing at the moment. This idea is the result of WAITING for particular criteria to line up which took almost 10 DAYS. I cannot describe all the details of what we look for to enter a trade, but I can share two key variables that carry a great deal of weight in our decision making. Again,...
Resistance zone prevents Bitcoin from pushing higher which is NOT unusual since this market is STILL IN A CORRECTIVE CONSOLIDATION. In fact, the 11650 low of the previous inside bar was taken out, generating a new sell signal. Both of our swing trade ideas reached their respective targets days ago, and all we maintain now is inventory from an average price in the...
Bitcoin is nearing our second target that we shared as part of our alternate swing trade idea almost a week ago. Why are we not calling for 20K or some other unrealistic target? Again it has everything to do with the proportions of the recent price structure. The goal of this analysis is to provide a sense of perspective and context as they relate to short term...
A high degree of randomness. That is the best description for the Bitcoin price action in recent days. The real question is can you see through it OR are you distracted further by things like small time frames and over reactive chartists continuously making unrealistic claims? Filtering out the noise has everything to do with arriving at YOUR OWN conclusions and...
When you look to invest into anything, what is the first thing you do? Right, research the fundamentals and news. When you look to trade a financial market, what is the first thing you do? Research the fundamentals, news and your favorite online expert opinions? Surely, the value of any asset must be governed by conventional logic, like "math and facts", right?...
Bitcoin continues to linger above 9K while the 9500 reversal zone boundary is still in play. As I constantly remind our followers, short term timing strategies like swing trading rely on probabilities. We measure these probabilities in the form of price patterns and levels. When price reaches a reversal zone, and does not take it out, there is a greater chance of...