TexasWestCapital

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Here are a few of the things I am watching on the weekly TF. Of course, we need to see how the weekly closes, but those waiting for $20K may have been front-run. We need to see a breakout above ~32000 and then ~38000. Further downside may see targets of 22K and then 20K.

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There is an expanding symmetrical triangle (megaphone pattern) in Elliott Wave Theory. I'm not saying this is definitely happening, but if we see an impulsive reversal after dropping a bit lower, below wave ((a)) support, then it becomes a possibility. This is the same fourth wave pattern we saw in the Dow where the March 2020 drop was wave E of the triangle....

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Bottoms are usually resultant from increased effort and less result. The current candle suggests that a bottom may be forming for a bounce at the least, if not a full reversal. We will need to see how the daily closes.

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As I've mentioned on my stream, a breakdown below the current wave C low at 32933.33 just invalidates that particular triangle. There is the possibility that another triangle could be printing in that scenario as shown in this chart. Wave C could still be in progress. However, it would need to reverse prior to the wave A support at 28800. Breaking down below that...

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Wyckoff and Elliott Wave analysis signals we may be seeing a triangle completing. This is the chart I've been discussing for quite a while in various public live streams on YouTube and Twitter.

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Wyckoff and Elliott Wave analysis signals we may be seeing a triangle completing. This is the macro Bitcoin chart I've been discussing for quite a while in various public live streams on YouTube and Twitter.

TexasWestCapital Premium

Wyckoff and Elliott Wave analysis signals we may be seeing a triangle completing. This is the chart I've been discussing for quite a while in various public live streams on YouTube and Twitter.

TexasWestCapital Premium

Good morning, traders. For now, I am still seeing this as a bounce before a stronger push down. As I've pointed out via CQ.Live the past few days, we've seen an influx of Bitcoin into the exchanges and, of this influx, the spot exchanges are receiving markedly more than the derivatives exchanges. This influx of Bitcoin into the exchanges most often is a sign of...

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For those interested in similar patterns playing out in the market, here's a look at the DXY. If it continues to play out, then it suggests higher highs incoming.

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If you've been following me here, on YouTube, on Facebook, or on Twitter, then you know that, for the past 1.5 years, I have been warning that the 2018-2020 trading range is likely distribution, using point and figure charts as well as volume and price action as evidence. I have also continually pointed out the fundamental similarities to 1987, 1999, and 2007....

09:59

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In this tutorial, we take a look at the Trend Line Tool and the Gann & Fibonacci Tools. Again, I discuss how to change the individual settings as well as how to save it as a template.

09:56

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In this tutorial, I show you where the different drawing tools are located, how to show/hide them, and how to delete them. I also begin showing you how to change their individuals settings so that they are only visible on specific time frames and how to change their individual styles.

09:22

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In this tutorial, I show you the basics of changing your charts' order if using multiple charts at once, how to change your timezone, and how to setup alerts on your charts.

09:40

TexasWestCapital Premium

In this tutorial, I show you the basics of changing your chart's layout, time intervals, and candle types.

09:32

TexasWestCapital Premium

In this tutorial, I show you the basics of changing your chart's color theme, including how to save and recall it. I also show you how to change the color theme of your indicators as well as how to save your indicators as a template for easy recall any time you open a new chart. This two tips will save you endless hours and help you personalize your charting experience.

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Hats off to our member, Julio, who tipped me off to this one. Strong move down from the end of April printing a descending wedge . Two large gaps on the way down. Expanding demand volume as price dropped, witnessed by those large daily green candles. Earnings last week surprised at $1.24 when 0.49 was expected (150.51% over the latter). Bullish divergence on the...

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Good morning, traders. Price finally began pushing up a bit later into the evening, yesterday. I'm still looking for the $11100-$11200 target. But traders should make sure they're watching the yellow box. That's $11050-$11250 which is the ascending light grey dotted channel resistance to the descending red dashed 2.5 month resistance. Based on the height of the...

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Good morning, traders. Nothing has changed since yesterday's update. My expectation remains to see price targeting the green daily supply/R2 pivot/descending resistance area and ultimately $12000+. At this point, the H4 chart shows us that the only thing that has happened is that price has been consolidating at the local TR's resistance/R1 pivot as we would...