Yes, the title is a bit of clickbait, but this is a very valid setup and looking at the weekly chart, there's not a lot of great things to say about BNB. I am bearish on BNB even though I think it can gain about $20-$25 from where we are today. After that, I'm looking for a $100+ drop. The BTC pair (not shown here) has significant bearish divergence as well. Be...
As per usual I am watching SPX quite a bit here recently. Yesterday I bought some SPXL on a move up and closed it today. Price action at the open was very strong and it may be difficult to see but I have "CALLS ABOVE 3948" so I have some lotto sized calls going into tomorrow. I also took this opportunity to get into some longer term short positions and will get...
AAPL is the crown gem of the S&P 500 and it's been moving up forever. Looking at the wave master indicator, you'll notice the red and white wave on the daily timeframe has been in overbought ierritory for literally years. That ended this year, moving into the neutral zone around May of 2022. That was after a big decline of roughly 27%. Then yesterday we broke...
I've been watching BTC since we've been in this price acceptance range. A lot of volume has traded in this range since even the end of November. We've seen liquidity hunts to both the upside and downside frequently. This is perfect bear market price action and it reminds me of late 2018 in a big way. This recent breakdown is much different than the previous...
Bnb has broken out of the wedge and it looks like it'll try moving higher. Stops at breakeven and target is $280 in coming days.
Looking at bnbusdt and there's a very nice wedge brewing. Typically these are continuation patterns and the initial move into the wedge was up from the lows. Very similar to btc, it kids life we are going to see short term upside which should create a great short opportunity. Posted from my mobile device.
Little Litecoin, which most people have forgotten about, remains one of the alts that tends to lead the pack (along with DOGE) when an alt season starts. It saw a move from basically sub-$4 up to $420 in 2017. The mania was huge and as you can see in the volume indicator in the lower panel of my chart, there was a large amount of volume concentrated in about a 2...
Bitcoin is currently at the local 61.8 A move up through 16920 would help build a case to 17,500
BTC has been in a boring range for about a week. Moving averages on higher timeframes are approaching price action and that's not a great thing but this range has created several opportunities for market makers to play the high leverage traders like a fiddle. In the chart, you will notice something that would resemble keltner channels or bollinger bands. What...
Let me take you on a journey through my mind. When we tested 3775, I had a high degree of confidence that we were reaching a bottom. We did go a little lower but my key indicators were suggesting a bottom may be in. That shift in bias ended up being correct. Going into next week, it is possible we see a little push up at the open on Tuesday to fill the gap which I...
As I look at the OP chart, it is hard to ignore the massive wedge that is forming but I ask you to take another look at the formation. Zoom out and lets not forget that the move leading into November 5, 2022 was a rejection at the 61.8 internal retracement level. This type of rejection, which is one of my favorite trades to take, has a target at the -23.6%...
There's a ton of bears out there. There's no doubt about that. I am focusing on the structure here... Now that the narrative is there, I am going to outline what I currently see here. In the next couple days, it looks like SPX is going to find some key resistance at the 3900-3920 area based on a measurement of what I predict is wave 3. This means we've got...
Take a look at this chart and you should be scared. Not that I want to scare you, but I feel it is very important to point out something that is key here. Ever since the high volume pump from $42 to $300 (which liquidated an inexperienced friend of mine for 10BTC), volume has been decreasing significantly and is close to zero. Point of control for the entire...
Poor little cardano. One of the best performing alts in 2020 and 2021 has bled more than 90% from the all time high. Don't despair, though. Back in 2018, Litecoin (LTC) went from roughly $400 down to $20. That was a 95% decrease before going back to $350+ Now that we are where we are, don't expect a move to go straight back to $3 - expect a move similar to...
Here's a quick take on ALGOUSDT - Not a whole lot to discuss here other than ALGO has fallen below a major support level at 0.2025 which was established in late 2019 and early 2020 during the covid dump. A 5 wave structure can be seen on the way down with wave 4 retracing internally only roughly 23.6% of the way to another key level around 45 cents. I would...
The narrative here is quite simple. The futures chart is clearer, but I'm posting the actual index since sometimes the overnight session can see wild movements on low volume specifically around the 3AM (eastern) hour. We've seen a nice rally off of a test below 3900. Everything was oversold and there were many significant opportunities given to day and swing...
Currently the S&P 500 can be seen in 3 views. I have a primary view and two alternates: First, the yellow path - my primary. After the FED comes out today, I think it'll cause a pullback in the market, but it won't be what everybody is expecting. I expect the pullback to complete a small correction from the top and pull back to around 3880-3900. Bears will...
I was doing a stroll looking at Bitcoin while removing any previous analysis I've done on it and found something that I had previously missed. On the daily timeframe, We have continually been suppressed by major moving averages all the way down: March 28, 2022 - This is the last time we tested the 200SMA (Daily). April 21, 2022 - This is the last time we...