marcusdw1

marcusdw1

Many may not be away but the DJI has been in a downtrend when priced in Gold since 2018. This means if you had sold your stock portfolio back in 2018 and moved to gold you would have made a higher return than staying in stock for the last 5 years.

marcusdw1

BTC has already broken out to the downside of an ascending wedge. An attempt to get back above the 200 MA suffered strong rejection. It’s now sitting at major support. If this support fails (an I expect it will) I expect price to move down to the 0.618 Fib line at around $25,500. A bounce from here would be an excellent opportunity to secure the new bull market....

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The BTC dominance chart is an interesting and useful way to look at the interplay between Bitcoin and the Altcoins, or more specifically their price action. It helps us understand whether or not it is the right time to be directing capital into Altcoins, or moving out of them into safer alternatives like BTC, ETH or stable coins. If the trend is down then BTC is...

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BNB and ETH have been trading in a range since mid May 2021 and we are still in a very tight ranging range with neither one being able to outshine the other for a sustained period. I've had most of my "trading bank" in BNB since to last bounce off the lower support line (purple line). It does appear however that BNB is starting to build strength against ETH. It is...

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Well, it's hard to get a nicer chart than what we are seeing here today. ETH has completed a very bullish "cup and handle" pattern, followed by a breakout and retest of previous resistance. Now are just seeing a breakout to the upside of that retest. This move is being supported by a Normalised MACD crossover as well as RSI moving back up. OBV has gone green...

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The ETH chart is currently looking a little uninspiring. Although technically still in a long term uptrend, price has been pretty much moving down since November 11th. On the positive side I believe we have found the local bottom. I've placed a white rectangle around previous bottoms and all of them are characterised by low RSI's, red (negative) OBV and the...

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Where is BTC price likely to go from here? I remain bullish and here is why. Firstly I'd like to cover the basic market structure. There is a lot of lines on this chart so I apologize, but I'll address each one and I hope you can see why I feel they are significant enough to remain. 1. BTC is in a long term uptrend - see thick green line. 2. We have just...

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Well, it's almost crunch time for BTC and the old king is facing up to a field of younger, fitter and stronger opponents.....the revolution is marching on the castle. Ok well maybe the analogy falls short at stronger, but either way, this chart looks gloomy for BTCs dominance over the market. Not only is BTC in a long term downtrend against the Alts, but it has...

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BNB has been showing some strength again over ETH in the last few days, but until proven wrong, I'm considering this as a short retracement in the downtrend. I've used a few red arrows to highlight the weakness in BNB's upward move over ETH. You can see that while price has been moving up, volume has been falling indicating that there is no commitment from the...

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Not a lot new to see here. ETH has a clean breakout over BTC after the long consolidation and is moving nicely towards the long term target of 0.13BTC. BTC's price is currently being stifled by multiple overhead resistances, whereas ETH has broken most for the shackles and has the previous all time high in its sites. This sets the scene for ETH to easily continue...

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Generally speaking the market is licking its wounds after multiple unexpected pullbacks, all in the face of Twitter followers all calling for a Buzz Lightyear style "infinity and beyond" for crypto markets. Of course the majority are never right, so here we are. Under the circumstances, ETH has been doing pretty well, and certainly better than most. Unlike BTC...

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BTC has work to do. Price is now in a tangle of trendlines spanning multiple timeframes: Long term trend is still up (thick yellow trendline). Medium term trendline (Orange trendline) has been broken to the downside. Short term trend (thin yellow trendline) is down. Technically this is a pretty bearish scenario, but it's not all bad news. We have just recently...

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ETH has broken out to the upside from a long consolidation triangle. This is extremely bullish and I'm expecting ETH to now significantly outperform BTC for the rest of the bull run. Looks like price is coming back to re-test the upper trend line and if it holds, will be a successful flip of resistance into support. This will leave ETH with a clear run having no...

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The major trading pairs are all looking very vague at the moment with trading slowing to a crawl. I'm not trusting most of the indicators as the volume is too low for them to have any meaning. BNB has been trending up against ETH (all be it weakly) since the end of October and at this point still is. Recent price movement has brought it back down to the trend line...

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Crunch Time - This is an interesting juncture. ETH has pushed up to the upper resistance line of the consolidation triangle and now has a decision to make. Is it going to break through and run up to my target market high of 0.13 BTC, or is it going to roll over and fall down towards support on the lower support line of the triangle? Technically it's not clear....

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Caution Still Required - ETH has been moving in the right direction for the past few days, but it hasn't been easy. Price has been grinding upward and on low volume. On the bullish side of the equation RSI, OBV and ADX are all pointing in the right direction, and we have a demand zone just below us at the $4200-4300 level. On the bearish side, price has hit...

marcusdw1

Caution - BTC has been moving in the right direction for the past few days, but it hasn't been easy. Price has been grinding upward and on low volume. On the bullish side of the equation RSI, OBV and ADX are all pointing in the right direction, and price has broken through the short term trend line. We needed to see this before any further moves up are possible....

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Today I'd like to highlight a few BTC triangle patterns that we have seen play out before. We are looking at the break out from two previous consolidation triangles so that we can compare these to the current price action. As you can see previously price has broken to the upside (even though we are looking at descending triangles). Importantly confirmation has...