TravisStroud

TravisStroud

Bitcoin had a strong rally after breaking out of the flag pattern I incorrectly labelled as a bear flag. I did not see that coming at all. The target of the pattern breakout moving higher has been met now so the crypto industry is holding its breath to see what it does next.

TravisStroud

Frustratingly BTC has forced me to readjust my lines of support and resistance again because of meandering out without any increase in volume. This happens a lot due to volatility of the asset. If support or resistance lines ignore wicks for most of the pattern it will suddenly move to take them into consideration towards the end to make you think it is a...

TravisStroud

Bitcoin has moved higher out of the bear flag pattern to test long-term resistance. There has not been any increase in volume as you would expect from a break-out. We should also consider that the move has happened during the weekend which more often signals a fake-out because with less orders in the books it is easier for trading platforms to manipulate the...

TravisStroud

I have been informing of this dump coming for weeks now. This is a textbook bear flag pattern with a few fake-outs higher and lower. The DXY is showing signs of reversing and is likely to climb higher which will add further selling pressure to this market. As Bitcoin is high in the flag right now it may be a good point to short which will negate a possible...

TravisStroud

The DXY on the weekly has reversed on the support I have been anticipating for weeks now with a bullish engulfing candle. If this candle remains to the weekend Im expecting selling pressure in stocks and crypto markets next week.

TravisStroud

I have been reporting this bear flag for weeks and the point of the flag is getting very thin now. We have seen declining volume and now the USD has found support and is beginning to reverse. I dare say the Bitcoin dump will begin if there is a green candle on the DXY tomorrow.

TravisStroud

On the daily we can see a huge bullish engulfing candle bouncing off support I've been anticipating for weeks erasing all of the previous week's losses. Another green candle tomorrow will confirm the reversal and signal the USD continuing higher in the medium term. Risk on assets like Bitcoin and stocks will see some selling pressure if the reversal is confirmed.

TravisStroud

For the several week duration of the bear flag volume has been declining. Breakout will likely be with heavy volume and the apex of the flag is in only a few more days. I am expecting the breakout to happen at the same time as a big green candle on the DXY.

TravisStroud

Bitcoin is still in a bear flag pattern with volatility rising the last 2 days. The USD has found support and is potentially continuing higher which will add selling pressure to the crypto markets. The dump I have been anticipating for weeks may be close.

TravisStroud

Here on the weekly we can see that the USD has wicked down to the ascending support 2 weeks in a row and again to begin this week. A green candle on the weekly should confirm the reversal and signal continuation higher.

TravisStroud

After a few fake-outs Bitcoin is still clearly respecting the bear flag pattern winding up pressure for a big break out.

TravisStroud

After falling out of my bear flag interpretation without any volume increase and then climbing back within it has forced me to reposition the flag to include more wick ends. No change to the eventual expectation of falling out lower as the USD reverses and confirms continuation higher.

TravisStroud

As predicted BTC fell out of the bear flag pattern lower and is currently back-testing resistance. Many shorts have been liquidated or stopped out. I believe resistance will hold and BTC will plunge lower in the coming hours.

TravisStroud

BTC has dropped out of the bear flag pattern identified. Watch for a back-test of resistance to stop-out or liquidate some of the triggered shorts before the inevitable plunge. Target of the pattern is 11500.

TravisStroud

The USD has found support as I expected with a very bullish doji candle. A weekly green candle will confirm the reversal and signal the USD continuing the trend higher. Expecting selling pressure in other more risky markets.

TravisStroud

After a disgusting fake-out BTC has settled back into the bear flag pattern finding support at the bottom. 16800 has been a key level of support and resistance having back-tested it and confirming resistance yet again. Bears have momentum, USD finding support and potentially reversing adds selling pressure. Im expecting a breakout lower is imminent, possibly even...

TravisStroud

This week the DJI back-tested resistance and failed. Im expecting it to continue lower below 29200 and for 29200 to become the new ceiling resistance.

TravisStroud

ETH tested support again and failed again. With the USD about to find support and continue higher Im expecting sell pressure in crypto markets which Im guessing will force ETH to breakout of this pattern lower.