Channeling is the single most important technique that you must know in trading.
- can be used 100% of the time in all market conditions for both impulses and corrections. Price always travels in a channel until it breaks
- there's never a single channel - there are always multiple nested channels and by breaking/bouncing off of their boundaries price...
Here's some insight into Volume Structure Analysis
1. outline wave structures based on volume
2. determine whether the next wave structure is a continuation or reversal
1. start from the local top/bottom and look only at candles in the direction of a trend, ignore candles in the opposite direction. On a chart price is in down trend, so compare...
Miners' Capitulate into Bitcoin Halving
On a macro level the Empire is currently building the 3rd Super Star Destroyer with Death Star capabilities to jump even further through hyperspace. There are 3 scenarios:
1. blue (most likely)
In a nutshell - undercapitalized miners panic sell because difficulty is too high and mining...
Bitcoin seems to be ready to break up the warning line of a smaller pitchfork.
The fact that price respects the Schiff pitchfork, not the original one and that there are 3 waves down WXY of a larger (W), not 5 waves - implies a somewhat light correction and up trend continuation at some point, not reversal. Earlier we bounced of off the pitchfork's median line...
1. We have hit all 3 targets as predicted and stopped at 61.8% retracement from ATH to ATL, R3 W1 pivot, pitchfork's warning line
2. We are still in up trend and correcting on a higher timeframe
3. Possible top with further bearish continuation
4000 years of peace have passed in the Galaxy under full control of the Empire and basically nothing...
Here's a Macro look at Bitcoin.
There are multiple bullish Elliott Wave counts (green, blue, red), and it's not clear which wave is it until the next major correction, but we're going up.
You get different target clusters depending on whether you think wave 4 and waves 3/5 are in or not.
We are already heavily overextended and well above any wave 1 based fib...
The Basics of Trading with EMAs using Multi Timeframes MTF Explained
To be able to trade successfully you need to understand how timeframes influence price movements.
Here I'm using the Litecoin D1 chart to illustrate.
On a chart you can see 3 sets of EMAs from different timeframes with crosses marked by dots: 12 (aqua), 26 (purple), 50 (red), 200 (blue)
Ethereum Macro Analysis
Looking at BTC pairs, Ethereum is currently lagging behind the market leaders Litecoin and BNB, but it will come around. Alts Season is coming with Ethereum usually peaking after Bitcoin.
Litecoin will likely reach new highs first, while Bitcoin is consolidating.
Key Upcoming Events:
- Jul 22 BAKKT Test net launch
- Aug 6 Litecoin...
Litecoin Macro Analysis
Looking at BTC pairs, Litecoin and BNB are the strongest coins that currently drive the market and are almost solely responsible for the up trend.
Key Upcoming Events:
- Jul 22 BAKKT Test net launch
- Aug 6 Litecoin Halving
- Next Week - Facebook Libra Stable Coin Presentation, backed by Visa and other majors
Based on Elliott Waves,...
Here's a fresh macro look at Litecoin
LTC is rolling down in a purple down channel.
- We are making lower highs after lower highs in a down trend.
- We have already dropped from yellow/red major support zones into the green one. The last support zone is blue.
- We have been death crossed since April and rejected from all major D1 MAs.
The price has recently...
We have reached the target 3200 as expected. I think the time to retest 4000, 4150 W1 EMA200 and 4400 prev high in an upwards correction will come soon as more buyers step in.
SEC ETF deadline is postponed once again to Feb 27 as expected - no surprise runs any time soon.
- oversold on W1 again
- almost touched W1 SMA200 support
- divergence forming on...
Here's Bitcoin compared to Stock Markets.
As you can see, almost every major drop of DJI/S&P500 has caused a sell-off in Bitcoin, while it stays flat most of the time as stocks go up. Right now Bitcoin is falling in sync with the stock market.
In the beginning of the year every major move down of DXY has lead to a down trend in Bitcoin, now it has more of a...
In the Anatomy of a Bear Market Series I compare different Bitcoin Bear markets between several years.
The 2018 Bitcoin Market has played out as Bear and it is likely to continue through winter while bears take a long nap in their caves.
Its structure is similar to the 2014 Bear Market. Of course, they are different markets, reflecting different times, but still...
Here's another macro look at Bitcoin.
- We have dropped to the 4200 level on Coinbase as predicted in one of the scenarios of the previous macro analysis.
- We also had a spike fakeout upwards on CME expiration day due to Tether FUD - described as a possible violent move in the previous analysis.
A Recap of key recent events:
- Tether FUD (dropped to 0.85$)...
Here's another Bitcoin Macro Analysis:
1. D1 BB is max squeezed since the start of 2018 - high volatility major move soon (up or down)
2. volume is consolidating/declining - end of correction soon (move up or down)
3. some alts are starting to pump: XRP, BCH, LTC (both bullish or bearish)
4. shorts have declined from the record highs 40000 but are rising again...
We have broken 6480 on a 2nd attempt and almost reached the 7000 bull target in an upwards ABC correction being one of the possibilities in my earlier analysis.
Bitcoin was stopped/rejected by H4 EMA200. We're currently in an upwards channel that can become a Bear flag, having support of H4 SMA50.
Note a slight bear squeeze on BitMEX with 7143 high while there's...
TL;DR/It's a Mess, Can't Read the Chart (IMCRTC):
Long on breakout of 6480. Short on breakout of 6200. Confirm with volume.
Bear Targets: 5800, 5600, 5300
Bull Targets: 7000
Here is another look at Bitcoin.
There are 2 main counts on the chart: red and blue. Red is better measured using fibs, blue is better channelled (blue...