TexasWestCapital

It's Friday, traders, and you know what that means -- liquidity drying up for the weekend as the larger traders take a break and enjoy some down time. This means it is easier to move price with smaller sized positions, so if trading be aware of sudden movements. DXY is getting a bit of a bounce today as I mentioned it would yesterday as a result of it hitting the ...

Good morning, traders. CBOE Bitcoin September futures expired yesterday and, as I warned, there was comparatively large volatility within an hour of the expiration. It began with a strong drop and ended with an even stronger pop that resulted in about $400 worth of upward movement. This appears to have been a terminal shakeout on the small TF accumulation we've ...

Good morning, traders. Today is the CBOE Bitcoin futures expiration date. Furthermore, price has been printing a symmetrical triangle since September 8th which mimics April's symmetrical triangle that resulted in the short squeeze. Shorts were at an ATH at that time and are currently near it as well. Now, much like then, retail sentiment is very bearish and the ...

Good morning, traders. Bitcoin continues to move sideways, but for how long? Yesterday's downward movement that led to this sideways action appears to be a breakdown of a larger bear flag, which as I mentioned a few days back would have a target of around $5000. This would follow the AAPL 2009 pattern as I discussed last night, creating a spring, and if price ...

Good Monday morning, traders. The weekend came and went without much noise when it comes to Bitcoin. If you've been trading alts, however, there has much been much opportunity to profit since this sideways Bitcoin movement hasn't been surprising. I mentioned at the beginning of this month that we could possibly see it doing exactly this through the end of ...

Good morning, traders. We have made it to Friday once more and, as always, that means liquidity begins drying up for the weekend. Gold is nearing a bullish breakout and the DXY is struggling to remain afloat. This suggests to me that we are more likely to see Bitcoin heading up than down. DJI is a few hundred dollars away from filling the gap left in January of ...

Good morning, traders. It's Thursday and Bitcoin price continues to rise. Yesterday's breach of the descending broadening wedge and symmetrical triangle have produced a target of up to $6700. This would fill the price gap around $6670/80. Scattered above are pockets of over-leveraged, under-capitalized shorts which, when hit, will accelerate price appreciation. A ...

Good morning, traders. Overnight, we continued to see more of the same - Bitcoin's price consolidating within a range. It seems almost a given that price is going to drop below $5000, right? I mean, generally, everyone is expecting it, aren't they? That's all I've been able to find in cryptotwitter and TV. Yes, there are a couple of individuals suggesting price ...

Good morning, traders. After all that movement last night, price ends up right where it started at yesterday's update. It also shows you why I mentioned that I am paying attention to the DBW the most. Price hit the top of that wedge and then dropped back down to find support on the Tenkan line on the 4H chart. As with previous times before, this area continues to ...

Good morning, traders. Bitcoin was printing a great daily candle yesterday until near the end of the day when price fell. This left a large upper wick and small body near the lower third of the candle. Indecisive, but looking a lot like August's low playing out. We will see if we get a lot of follow-through similar to that period with candles having large upper ...

Good Friday morning, traders. We have made it to Friday and Bitcoin continues to move sideways after the shakeout almost two days ago. Price is not consolidating in this area, however volume is dropping, suggesting that accumulation may be taking place. As pointed out a day ago, and has become clearer at this time, price may be printing a checkmate pattern. This ...

Good morning, traders. After that shakeout at the end of yesterday, price has not returned to our previous accumulation zone. The question now is are we going to drop further? At first glance, that certainly appears to be the most likely course of action, doesn't it? But there are a few things you should be watching just in case it does not materialize. If you ...

Good morning, traders. What a wake up call for those of us in the U.S. Bitcoin price drops $500 in the early morning. However, this isn't a surprise. During my recent live streams I spoke of the various gaps below and above price as well as price needing a retracement and that we would likely see $6800-$7200 depending on if price made one more push up before doing ...

Good morning, traders. I'm trying a darker color scheme here, so let me know what you think. It is the beginning of the work week in the U.S. after the 3-day holiday weekend. Shorts jumped up over the weekend the short/long ratio currently stands at 1.1558. There are a couple of possible reasons for this: 1) big player could be baiting retail into shorting so they ...

Good morning, traders. While the daily inside bar we were watching didn't pan out as such, the tweezer top that we noted did, so price isn't doing anything we didn't talk about potentially happening at this point. It looks like we are finally getting the pullback that we have been expecting with liquidated longs providing the continued fuel. This has produced a ...

Good morning, traders. No big moves overnight, but we did test the recent highs around $7120 once more. Every time buyers push up into this area they are weakening the resistance by setting off the orders sitting there. So the shorts get triggered and then we see them getting absorbed which is why, even though we have watched extensive selling occur at these ...

Good Tuesday morning, traders. Bitcoin continued to move up overnight and has hit anywhere from $7055-$7126, depending on the exchange. This brings it to the resistance that we discussed during last night's stream at around $7086. But now what? Shorts don't appear to be taking the move too seriously as they haven't really begun covering yet. This signals to me ...

Good morning, traders. It's a new week and Bitcoin continues to consolidate, albeit above the previous range. The question is, will we finally see the push up and possible short squeeze that we've been watching set up for a while now or will price drop? The 1H chart shows us that price has been moving within an ascending channel since August 13th, however price ...