BTC has a history of getting way ahead of itself. Is 3.2k the obvious entry point based on repeating price action? The symmetry is beautiful.
The disappearance of cryptocurrencies from mainstream media has coincided with institutional investment in exchanges and availability of derivatives trading, which has now gone very quiet. I can't help but feel the...
I'm not bullish or bearish at this time, everything is short term. Ascending wedge was broken last week (based on close prices - but this is highly subjective). There's a good chance the 50MA will hold at $180ish - which will be my first call trade, and if that breaks there is strong demand around $179 where I will average down the calls. Beyond that I'll be...
If this executes we could have significantly more downside. Accumulation on the minute chart is trending down, suggesting retail is buying (grinding up) and institutions are selling in batches.
The market got itself well-ahead of the prevailing long-term weekly trend in January and again in March, prompting a sell off back to support. We're now back there again, and this time it's different, except it's not. When everything fed by the media is bullish and retail are euphoric, that is the time to take a step back.
The Nasdaq is up 9 % in 2018 (a very...
I think the euphoria around Iran and supply cuts has been temporarily overbought. I could see oil dropping back to the 50MA and possibly the bottom of the channel, before continuing upward for the rest of the year.
I don't think it will go near the 200MA.
