Right now is undoubtedly a time when Bitcoin enthusiasts & investors are glued to what the price is doing. I see all kinds of analysis, predictions (different from analysis), fund managers tweeting horrible looking technical analysis with a MACD and a few unconfirmed trend lines, drive by media reports from their “experts” and so on. To be honest, we are at a...
Prior to the 4k breakout I expected to range within 3k-6k if the market was truly at a bottom. Clearly we are beyond that, taking a look at the unusual strength of this rally a few conclusions can be formed.
One, the bottom is in. If you have followed me for any amount of time you know I don't make premature decisions. When your entire career, income, and...
Let the handle form before acting upon it, that channel placed is not set but more as a guide as I watch the handle form.
The proper way I trade this is as follows:
Buy the breakout & candle close of the handles upper trend line after it has formed, this is still forming as of this writing.
Considering the bottom of the cup is an unreasonable stop loss, I am...
This overview is purely a market trend analysis. This not an analysis saying we are only going up from here. Also, this analysis is done on Bitstamp, checking the other markets as I wrote this, the points I show are visible on the other major exchanges.
We are seeing a few very important bullish signs for the first time throughout this correction. However, this...
2. Elliott Wave Count
The problem with Elliott Wave Theory is it's extreme subjectivity. Finding an exact wave count & forecast is extremely difficult; E.W.'s are subject to error when projecting targets considering there are several different places they can eventually end. If by chance you have...
This has not fully formed, confirmation is key on this pattern. If this forms properly:
Entry: Approx. 8k (Neckline break as shown above.)
Exit: $7,627 (Measure from the head peak to the neckline, add that to the neckline break)
Stop loss: $8,304 (Always above the R shoulder)
I am not 100% satisfied with the volume set up on this, but generally H & S are never...
This is a quick analysis of current conditions. The 4 hour Doji we are looking at closes in about 30 minutes of this writing.
Tom Demark Sequential (T.D. Sequential)
Notes: Imperfect close on the 8.
Guppy Multiple Moving...
I hate to be on this train, but as I watch this unfold the similarities are there. Ripple continues to be a controversial crypto, but I trade with profit in mind first. There is also a undeniable amount of supporters that keep buying every dip.
I am letting you know now, that the odds of this trade playing perfectly are not high. But it is something I will be...
The Weekly and Daily will be closing right around the time this is being published. Some of these charts are messy, but the indicators or trend lines are there for a reason, I am working on simplifying my charts.
Looking for some signs of a bottom & there are a few that are slowly developing.
We are on a red 6 with the T.D. sequential as can be...
This is very long but I would like to be thorough in this analysis, so stay with me.
I warned throughout that the entire bounce off of support that the rally was not healthy and a breakdown needs to occur. We got the breakdown right out of the symmetrical triangle that has formed over the last several months.
What IS healthy is this breakdown, I would rather...
The daily closed in remarkable fashion. I am seeing some Bullish signals emerge mid term but also some Bearish signals short term.
Take a look above at our RSI, we don't typically see a channel like that unless it is a continuation pattern down. I don't have to time to show past moves of this structure but if you examine the RSI on multiple time frames you will...
Keep in mind when I do my analysis, I cycle through the various time frames pointing out potential issues I see or biased price movement. If I point out one Bearish or Bullish quality that does not mean we are going that direction based on that one observation. I typically cycle through the points & then tie it all together at the end in conclusion.
Stay with me...
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Head & Shoulders Pattern
I realize the Head & Shoulders pattern is a common pattern most traders know. However, I feel that too many traders don't identify them properly nor realize the actual makeup of a H & S.
There are two types of Head & Shoulders: Inverse, and...