Solana's waves have been expanding steadily, with a series of higher highs and lower lows, with the last attempt at trend resistance amounting in a large rejection wick. This came after an above-average demand volume bar, showing us, once again, that bears are in power. If the ABC correction plays out, we can expect the PA to fall back to trend support and retest...
It finally looks as though Terra Classic (LUNC) is forming an accumulation range. Either that. or it's one hell of a H&S distribution. The volume metrics seem to indicate an accumulation campaign by Smart Money, however. This would explain the solid floor it's held since the SCLX, and the diminishing volume in both supply and demand during periods of lateral...
The wedge is still rising and playing out as forecasted. Clear diminishment in demand (buying power) in contrast with rising price action. This sort of divergence is toxic to the bulls. We've got another push in make (5), however, before we see any sort of ABC correction, and this may happen in the next few weeks. This final wave can propel BTC to upper the 35-40K...
Things are looking a bit supply-dominant for BTC after failing to rally above range support. Volume metrics have been showing decisive selling power for a few weeks now, with a marked UTAD and a series of subsequent last points of supply following the price action back down to TRS, where it currently hugs with more demand rejection wicks. Nothing is 100% in...
This ETH chart ties into the BTC chart I uploaded the other day and reenforces the concept of a potential further downside over the course of the next few months. Rising (aka ascending) wedges are by nature bearish harbingers of price action. They are essentially lazy crooked tops where the micro support and resistance lines both rise in an unparallel fashion. In...
An ascending broadening wedge has emerged for Bitcoin over the past few months. These structures are typically bearish, especially if the price action has touched the micro resistance line (top of wedge) five times or more. Keeping in mind nothing is 100%, especially in crypto trading, it is worthwhile to analyze these patterns according to their historical...
A potential BTC distribution is playing out, according to Wyckoff Schematic #1. Nothing obviously is 100% in (especially in crypto), but the resemblance is uncanny. This relief rally IMO has been unsustainable, so such an outcome shouldn't come as that big of a surprise. I realize this is a 2-hour chart but let's see how it plays out!
Gain-erasing retracements are in the books for BTC, ETH and a host of other altcoins in the form of rising wedges, which act in this case as a type of crooked top. Be sure to take caution in the next few days if you are long in the market. FOMC announcements are expected on Jan 31 which may torpedo the markets based upon the outcome of the meeting. This would...
Let's see how this turns out. Highly manipulated ATM, on the macro I'm bearish. Currently, however, a FOMO pump to 22.8K may be in the cards before this thing goes back to structure & back to bed. Be safe, be strong, be wise :) **If you have patience, strong hands, and like scoring wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired...
BONE is looking like it may retrace after scoring some nice gains. As I shared with my group: the rising spread is narrowing, volume showing signs of supply build after failures to rally in demand at key micro resistance points. One more potential rally may be in store, but this could be a false one if it breaks structure. Ultimately, I project the price falling...
ETH is showing demand at macro resistance, typically reserved for bull traps when trying to break from a major downtrend structure in a bear cycle. Keep an eye on potential supply block traps hovering outside resistance where smart money seeks to harvest liquidity before sending the PA back into the wedge. Beneath the current PA I've included two anchored VWAP...
High possibility of another liquidity grab before BTC falls back into the macro falling wedge, and back to macrotrend support. Please beware of any rallies after this point, especially those reaching up to the 18-18.3K range. As I teach my group, these are often classic bull traps that occur past the macrotrend resistance, where unsuspecting retail traders are...
Metal currently trending in an AW. I've included DCA points in the event of a distribution. If you have strong hands, patience, and like big wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired cryptocurrencies on all the major CEXs and seek out the most lucrative swing trades and runners. All my charts are clean, straightforward, and...
SNX is one among many alts currently in redistribution patterns after Bitcoin's last pullback. Supply volume is entering in the vertical bars as the PA attempts to cut through microtrend support. Will it continue to pullback or will it correct back into the wedge, it remains to be seen. I still hold a bearish bias & I'm expecting an eventual mitigation at 1.50 USD...
Macro descending wedge made up of a series of micro rising wedges, which account the bleed-offs we continue to see in the price action. Next stop if we distribute from our current channel is in the vicinity of 13.7K (1.618% Fibonacci retracement), which I am expecting. This may (or may not) come before a FOMO bull trap reaching into 17.5-18K area with full...
Dash may be inching more and more toward a pullback. This is due to a steady climb of higher highs & lows in a wedge-like structure with supply bars entering at the key juncture of microtrend support. If this support is unable to hold, we may be revisiting the Fibonacci retracements as we make our way back down to mitigate the supply LV at 1.618% and possibly the...
Jasmy making a quick momentum play for the Fib range, presumably from an oversold position. .00397 mitigates the liquidity void at the .618 extension. ** If you have strong hands, patience, and like big wins, be sure to SUBSCRIBE to this channel. Here's why: I track all USD-paired cryptocurrencies on all the major CEXs and seek out the most lucrative swing...
Here is the second part of my "There will be blood" chart (check it out below), which accurately forecasted the next redistribution event for BTC. It's becoming a familiar occurrence: an unmistakable ascending wedge pattern emerging with dominant supply expansion in the pullbacks presupposes more downward action to come, but perhaps not before a quick liquidity...