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Keep an eye on this pattern as it develops, as BTC is also at a key level of support. This coupled with a rising 10yr yield and the SP500 looking a little top heavy would lead me to take the view that limiting unnecessary exposure could be beneficial. -TradingEdge

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Quick overview of some key Anchored VWAP targets/ support/ resistance. First up we take a look at the most recent swing high before the leg down on the 8th of May, as you can see this is still quite a strong resistance, with any rally being sold into. The next VWAP Anchor point from the 11th of December compounds the resistance from the first anchor point,...

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SPX is looking a little extended at these levels, with bearish divergence on the MACD signaling waning momentum, i would look to see a slight ease, from these levels Looking at potential targets, the major pivot around $4050 USD also falls on the 50% fib retracement of the most recent leg up. A less aggressive pullback could entail a retest of the 50 SMA....

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Quick update, Head and Shoulders on Bitcoin, with downside target of around $33,500 USD Note the bearish divergence on the MACD. -TradingEdge

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Bitcoin is looking quite nice at this point, although further downside is always a possibility, the market is showing signs that the selloff may be easing. Bitcoin is currently sitting at both the 61.8% and the 50% retracement off major pivot levels, as well as a bullish divergence on the 4 hour Daily: 61.8% Daily: 50% 4 Hour Bullish Divergence: These are...

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With the DXY taking a massive hit on Friday, time to take a look at the unloved yellow metal. As I have noted in an earlier piece, the BEST indicator for Gold that I can see, (leave a comment if you think of a better one) is the inverted DXY chart, surprise, surprise, a weak dollar correlates with a rising Gold price. Daily: The correlation, aside from a minor...

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Potential Inverse Head and Shoulders pattern present on MSTR, for those looking for a stock play on Bitcoin. For a more conservative entry: break above $890 = breakout of the Inverse Head and Shoulders, more aggressive entry would be to enter now, prior to a confirmed break, this is risker (as the move has not be confirmed) however the distance to the stop loss...

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With Bitcoin and cryptocurrencies being all the rage at the moment, there appears to be subdue interest in gold and the precious metals space as a whole. Being the contrarian that I am, that peaks my interest, looking over at the spot gold market, I noticed a clear bullish momentum divergence on the daily chart. Switching over to the weekly chart we can see...

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Disclaimer: I remain very bullish on Bitcoin long-term that being said, I do think that caution never hurt anybody particularly when Bitcoin is getting more and more news coverage (I tend towards a contrarian approach) As we can see there is a clear bearish momentum divergence, with each price peak printing a LOWER momentum reading, this coupled with the...

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Clear bull flag pattern present on Ethereum, this would present an entry with a break above $1880 USD, I have also outlined two possible stop loss levels, based upon your personal risk tolerance. -TradingEdge

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As I have been covering for quite sometime the altcoin market is experiencing a strong move higher, with a powerful monthly squeeze carrying the market higher, it appears that the altcoins are set to get a further tailwind with the presence of a daily squeeze within the firing monthly squeeze. Daily Squeeze It is worth mentioning that a daily squeeze within a...

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Keep an eye on the developing Head and Shoulders pattern on the 1hr chart for Ethereum, a break below $1,215 USD would signal a potential move to around $1,150 USD, whilst this pattern has little to no bearing on the overall trend of ETH, i understand that there are those who wish to trade all available setups. Notice the lower readings on the MACD, hinting...

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Like I posted several days ago the pennant pattern on Bitcoin has resolved to the downside, currently sitting just above $30,000 USD, whilst i do 100% believe this to be a BUYING opportunity, let us have a look to see where the price action could continue down to. A traditional pennant can be measured with the width of the pennant as the 'projected' move, using...

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Ether looks set to outperform Bitcoin, at least that's what the BTC/ ETH Ratio says, with the presence of a clear head and shoulders pattern, which would suggest that the ratio of BTC/ ETH may well narrow to as little as 15:1 (this would equate to a price of ether of $2,400 USD at present time). This pattern is even more easily discernible on an inverted chart...

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Some quick spit-balling around the potential cycle trend for Bitcoin (near-term analysis is less useful at this juncture) As you can see Bitcoin's prior peak in 2017 was the 78.6% fib extension from the prior cycle, using this same method the same value (78.6%) is over 140,000 USD, this number that JPM analysts reported several days ago. first move - to the 78.6...

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Bitcoin appears to be struggling to decisively breakout to new highs, with a clear bearish momentum divergence present on the daily chart I would heed caution, particularly given the divergence has occurred just after making a slightly higher ATH. This would lead me to believe that we can expect either a selloff or a period of consolidation to occur, similar to...

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*The charts are on a logarithmic scale* Bitcoin has had some very strong price action of late (clearing both of my prior price targets i'll say too), and as my prior BTC piece noted alllll the way back in May that after the $14,000 target was breached we would more than likely see a period of FOMO to prior highs... ...We may very well be seeing the beginnings...

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With Election proceedings still in process amidst legal challenges to a plethora of voting irregularities, i thought it would be fitting to check in with my personal favorite 'safe haven' asset. As you can see price has been steadily trending higher on the weekly timeframe, experiencing a few instances of profit-taking along the way (which i believe we...