TexasWestCapital

TexasWestCapital

I don't trade this coin, but here is what I was talking about on this morning's Wolf of All Streets Podcast with a bit more information. My count suggests that wave (iii) of ((iii)) terminated at the current swing high. Since, then wave (iv) has been printing what appears to be a flat correction. If so, then it is likely complete at the swing low. However,...

TexasWestCapital

This is the structure I have been discussing on Twitter, YouTube, and elsewhere since the June 2022 swing low. Wyckoff methodology indicates that it is likely accumulation. The Elliott Wave count may or may not be correct locally. We want to see an impulsive breakout above that ascending red dashed resistance to signal that the wave ((ii)) flat structure may be...

TexasWestCapital

There is a striking similarity between the 2018 and 2022 bear markets in Bitcoin as illustrated on this chart. This is the same thing I have been discussing for months now on Twitter and YouTube while so many other large influencer accounts were screaming that it HAD to go below $12K. While there is no guarantee that the low is in yet (there are no guarantees in...

TexasWestCapital

I have to admit, the possibility is compelling. A 43-year pattern nearing completion and leading to a $600+ target. What do y'all think? Do you currently hold silver? Does this possibility make you more interested in holding some/more? p.s. Had to reproduce this chart because the other one was taken down by Tradingview since I posted my company info on the...

TexasWestCapital

Can we get 400% in the rally? Based on the height of the large descending channel, an impulsive breakout above that channel's resistance should yield a target of ~19.24 above the point of breakout. That would be just more than 400%. Let's see if we can get this.

TexasWestCapital Updated 

As mentioned previously, the last two bear market lows are the only time that the weekly RSI has closed in oversold. The RSI and Stoch RSI structures at that point, and leading out, are the same. And this all appears to align with the most recent breakdown into oversold just a couple of months back, in June. We can also note a pullback after RSI rallied out of...

TexasWestCapital

For what it's worth, every time Bitcoin's weekly RSI has reached oversold it has marked the bottom of the bear market and ushered in a new bull market. The weekly RSI has only reached oversold twice before - January 2015 and December 2018. So, it's a rare occurrence signaling that either the cycle top is in this time, or we've still got a new ATH coming. Do with...

TexasWestCapital

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.

TexasWestCapital

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....

TexasWestCapital

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.

TexasWestCapital

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...

TexasWestCapital

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

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

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 Updated 

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...

TexasWestCapital

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.

TexasWestCapital

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

TexasWestCapital

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.