BTC has found support at a key level but from a fibonacci standpoint, it looks like we're in the middle of two important zones at the 23.6 and the 38.2. What does this mean? We're looking like a pivot for a few days is among us and support is likely to be found at the $20800 area which is where the 38.2 is and where I expect this larger degree wave 4 to...
Apple will have its day at new highs and that's what long term investors need. For those of us that are looking to make short term money, I'd say that it looks like aapl wants to test that 61.8% near 160 before starting a deeper decline. There's still a lot of bears out there evidenced by the options open interest through March so this will take a while if it...
Taking a zoomed out look at TSLA does give some signs to the possible path forward. First, we can see that there was a steach rise in the early 2010's which was followed by chop for 6 years. Pre-split, TSLA was ranging in the $180 area. After the final drop in early 2019, momentum really started to pick up. Buyers flew in and demolished anybody that was short on...
Quick update on the bump and run reversal idea that I posted several weeks ago right when we broke the trendline. At the time, I was super bullish on crypto in general because I've seen this structure play out many times in the past. So far, TETHER dominance has continued to slide which is an indication that other crypto assets are continuing to rise. There are...
Ok, I'll humor you all for a moment here and take a look at the expanded flat scenario on BTC. Personally, I am not a fan of this because it means we will see NEW LOWS by the end of THIS YEAR . First off, nobody really wants that right now. There's still a lot of bears in disbelief and there are so many out there that have missed on insane profit opportunities...
We've got quite a few things going on with the markets but one thing I can't ignore is the fact that Bitcoin had a massive dump after FTX that liquidated huge players. SBF played games with investor funds where he shouldn't have. What happeend to Bitcoin, though? It would appear nothing since we're trading higher than we were when that news dropped. BTC has...
I've been a bull all year and that has paid dividends. Now is the time where I'm cautious. Mostly because of the structure. I can see some upside in the next 24-48 hours, but then I believe we're going to see a little downside going into Valentines Day. No, I'm not talking about a nose dive into the $5k region. I'm just talking about a move potentially down to...
Looking at the ethereum chart and it’s clear that a major correction has completed. Problem is too many people think the bottom is in. Don’t get me wrong, a bottom is in but now the market is in a phase where short sellers are going to get their faces ripped off. The phase of the market where bears are late to the game. I wouldn’t consider shorts until ethereum...
I alerted here the start of a bump and run reversal on USDT dominance on January 12th. At the time, I said: "Technically speaking, spot positions in alts are your best bet. Watch BTC dominance (hint - it's rising, too), however I think alts may be about to pop soon if BTC can stay above $18k." BTC at the time was just starting to poke at $18,000 and it was only...
I was just scanning through some things this morning and noticed that cardano is creating a small expanding Diagonal overnight. Indicators are still very overbought, especially on higher timeframes, but the structure here suggests there may be another leg up. Bullish above 0.3065 I'm not necessarily bearish below, but any leveraged position should close below...
Looking at tether dominance - it's losing dominance which means other cryptos, whether it be BTC or ALTS, are going to see a rise in value. It doesn't necessarily mean USDT is flowing into those cryptos, but it means that other cryptos are rising in dominance. Technically speaking, spot positions in alts are your best bet. Watch BTC dominance (hint - it's rising,...
Ethereum has been one of those golden tickets that have been pretty predictable but have surprised many. Now that the fork is complete, I would expect Ethereum to continue to dominate moving forward. As discussed previously, I believe Ethereum won't see any prices above roughly $2500 this year, but that still means there's great opportunity to double your money...
Nobody is talking about Bitcoin volatility, but everybody is talking about VIX - so here's the chart and please join me for this TED talk on the history of bitcoin volatility index BVOL when compared to BTC. We can argue about how BVOL is calculated and whether or not it's relevant but whatever your opinion may be, you need to focus more on the comparison between...
We are now able to build a case for a move up to 17500. Expect a retest of the upper trendline of this wedge. Accept it as support, and we go up. Go back into the wedge, breakdown is possible. Stops at breakeven.
Back on December 26, I said that my corrective target for LTC was around $90 and we've basically been moving up ever since then. We are nearing the wave 4 target, meaning a wave 5 should be coming. There's a simple trade setup here. You can short a move into $90 with a stop loss at the low on February 24 at $91.50 - Violation of that 91.50 area will weaken my...
Going back to November 21st, BTC was in a bearish channel that was very corrective in nature. By corrective, I simply mean there is a lot of overlapping waves in the structure. It's hard to pull out any kind of a bullish count out of this. I discussed this bearish count right before BTC hit the top of the channel back around December 13th. Right after that, a...
Solana has been battered and abused for a couple months now, thanks to SBF and his cronies, however there's somebody that seems to really like Solana and it's making me think twice about being super bearish on it. There is something that Vitalik said in his tweet that rings true. "Opportunistic money people have been washed" - consider this, forced liquidation of...
I've been watching AAPL for quite some time and there was a nice wedge that has played out so far. What I can say is that from the high in Januaru 2022 to the low in June 2022 and the retrace up into August 2022 has created a bottom at 124.33 as seen on the chart. Notice that we bounced from there almost exactly (within like $1). Also, the initial decline &...