ETHUSD update: Higher low established at the 610 level while price works its way into the next resistance zone. There are countless scenarios that can unfold from this point, but in this report I am going to evaluate two that we are more likely to see in light of the most recent price action. At the moment, price is hesitating just under the .618 resistance area...
LTCUSD update: The 350 all time high then followed by a pin bar leads to corrective price action and a potential support. In this report I am going to highlight the risk/reward and what to look for upon a retest of the high. I have always considered LTC more of a buy and hold type of market rather than a trading market because the price action was not as eventful...
ETHUSD update: With 760 being the all time high and no real weakness in sight, it is important to gain a sense of how far can these markets go on the short term in order to decide whether to invest now or not. In this report I will refer to Elliott Wave in order to evaluate the potential reward / risk over the short term (next few weeks/month). People often ask,...
BTCUSD update: 17579 is a new high, but barely compared to 17171. This is the double top variation scenario that I wrote about in my previous report. Is the top in place? After watching the kind of vertical moves that have occurred in ETH and LTC, this appears to be an anything goes market so even though these conditions are rare and high risk, the strength is...
ETHUSD update: New all time high made at 557.99 which is showing a pin bar on the 12 hour time frame at the time of this writing. There is no question, these markets are all going up in vertical lines, but where do you buy in? And how much longer will these markets soar? I have been cautious which the less experienced will not appreciate yet, but years in the...
BTCUSD update: Price is not far from the all time high of 17171 just hours away from the start of today's business on the CBOE. This is when more volume will enter the market and have a more significant effect in either direction. In this report I am going to highlight what to watch for at the two upcoming resistance levels. 17171 and the price range up to 18300...
BTCUSD update: 12761 low reached and retrace in progress. In this analysis I am going to further explain what levels to watch for and what kind of behavior to anticipate. Once the futures open, let go of your opinions and be ready for anything. The 12670 area is the .382 support measured from the 5400 low. Why 5400? Because it is the bottom of a very large swing....
BTCUSD update: A move off the 17171 all time high to 13010 in two days. 5K move in two days is a demonstration of how much risk is involved when buying into this market at such levels. What is even more amazing is this retrace is within proportion of the current price action. In other words, this market is not bearish YET. The nearest relevant support measured...
ETHUSD update: I am LONG from 420.27 with a STOP at 396.45 and TARGET at 453. Reward/risk: 1.4/1. The entry criteria has been met for a swing trade long. (Trade was posted as an update in my previous report). I will explain the thought process further. As I wrote in my previous summary, buying into a pullback within a broader bullish trend is in line with my...
ETHUSD update: After retesting the .618 resistance zone, this market has broken the 450 support area and is now sitting within a support zone. The big question is: Is this a good time to buy? My first impression of this price action is investors are selling their ETH to buy more BTC because of it's relentless new highs in anticipation of the futures contract...
BTCUSD update: 12K reached as this market is pushing highs as I write. The reversal zone boundary at the 12100 area has also been compromised which is a sign that strength is likely to persist for now. Sure this is historical and will continue to attract more and more attention, which feeds these markets even more (positive feedback loop: google it). The only...
BTCUSD update: Sitting on the high, this market is still poised to go higher. There are two extensions to be aware of: 12400 and 14750. The CBOE is aggressive and will have the futures trading in a matter of days followed by the CME shortly after. No one knows how they will affect this market, or the alts, we have no choice but to wait and see. Meanwhile this...
ETHUSD update: This market is in a wide consolidation within a bullish trend which often means prices are poised to go higher, but upon further evaluation there is a lower high in place which is not a bullish sign. I realize no one wants to hear about a mixed market, but I have no choice but to write what I see. Just a quick reminder, I chose to write about my...
BTCUSD update: This market is poised to push 12k after consolidating for about a half day, as the bullish momentum continues. Price is still within a potential reversal zone, but NOT enough of a reason to short. In my previous report, I wrote about the built in long bias coupled with the freedom from institutions. No one knows what is going to happen when the...
BTCUSD update: Price retests the 10450 to 10880 resistance zone quickly and is now hesitating. Is this bullish now? Not exactly. The market is still flirting with the upper border of the resistance which makes it risky for both shorts and longs. In this report I will highlight the levels and POSSIBILITIES to consider. First, for those who are incapable of taking...
BTCUSD update: After making the all time high of 11441, the rug gets pulled and now that this market has attempted to reestablish some stability, it is possible to get a better idea of where price is likely to go next. The outside bar that was painted 3 candles ago (11441 to 9000) is a sign of a top, at least a temporary one. For those who were shorting too...
ETHUSD update: My 516 target was touched before the rug got pulled and is now showing signs of a top. My swing trade was exited at 499 on the way to 500 according to PLAN for a 30+ point profit (in a matter of hours). I have NO intention of getting back in until signs of stability return. The fact that this market went from 516 back to 400 within hours is...
ETHUSD update: As BTC makes history breaking 10K, this market is consolidating, it is just a matter of time before this makes the run for 500 based on the current price structure. So I am now long at 468.72. Stop 454. Target 499. RR: 2 to 1 (50% position size). These markets are great because they do not seriously correct anymore ( hehe, YET). When they do, it is...