Steven7960

Steven7960

Buyers are really trying to push price higher but are struggling to push through the 59,500-60,000 level. On the daily chart, April 3rd and April 4th were low volume sell bars (yellow bars on chart). Price then broke above the high of the April 4th low volume selling bar which was an indication that sellers still do not have control. Price hit resistance and is...

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Steven7960

Check out my weekly analysis video on Chainlink.

Steven7960

So the sellers were only able to take price down to 23.75 on March 24th. Then price went up to the 21 day EMA and went right through it going up to test the resistance around 31.00. This has challenged many of the sellers with short positions and now many of them have bailed out. When I saw this, I personally went long on April 4th buying Chainlink at a price...

Steven7960

On March 27th the buyers are making a second attempt at moving prices to a new high but at the very least testing the previous high. This is the 2nd attempt from the new high made at around $61,000. There is a 60% chance or better that they will succeed. Here's why: March 25th was a sell climax bar where sellers gave it all they got but there was no follow...

Steven7960 Updated 

Sellers have now gained an upper hand over the buyers and we should now see price move down to support levels. There is about a 75% chance we are headed lower. The bar on March 20th was a low volume buy bar which was an indication buyers were losing steam and a possible reversal was now set. Price finally broke the low of the March 21st bar which was the...

Steven7960

Today's bar was a bearish bar but a churn bar. This is an indication that big players stepped in today. It looks like price will selloff more to the previous support around $24 or we could go even lower to $22. With that said, I am still looking for a 3rd push up which may or may not continue up to the all time highs. I think it is more probable that when...

Steven7960

VXX tried to push up for the 4th time on March 4th and put in a climax buy bar. Price broke below that climax buy bar yesterday and now price is set to head lower. Looks like it might go and try to test the low of January and February of last year around 13.75. This is good news for the indices as prices are more likely to head higher. Also, just read that a...

Steven7960

The March 7th daily bar for Bitcoin was a buy climax bar with high churn. It also was a 2nd entry long. Price breaking above the high of this bar 51,477.33 makes it highly probable that we are now going to test all time highs and possibly even make a new high. We'll see what tomorrow's bar brings as this could change the probabilities :)