stewdamus

stewdamus

Traders, Our CME BTC Futures chart now shows (2) two gaps to fill. We know that over 90% of all gaps are eventually filled. Usually, this occurs sooner rather than later. The big question is which one of these gaps will be filled first if we assume they will both be filled? Post your best guess in the comments below. The other thing I am looking at on this chart...

20:07

stewdamus

Traders, What an unexpected set of events in the crypto world! At least from my perspective. We are going to discuss what just happened with the Bitcoin crash, where we now stand from a price perspective, and what needs to happen for us to recover again. We'll also be discussing the usuals. I think I have found a target bottom for the SPY? If I am right and the...

20:03

stewdamus

Traders, It's been a few weeks since I have done a video update. Hopefully, you all have been following my non-video posts too. I have been making regular posts in attempts to keep you all up to speed on the latest market price action. In this video, I will show you the line that caused me to sell. This does not mean I have now gone bearish on the market. On...

stewdamus

Traders, If you follow me elsewhere, you already know that I have unloaded the majority of my trades today. I will let you know more specifically what I am seeing in Friday's weekly update. But for now, in short, I want to point out that Bitcoin has been following all the technical indicators and rules like a champ. There is no reason for me to doubt that it will...

stewdamus Updated 

Traders, Two posts ago, I showed this bullish triangle. I expected one more drop down inside the triangle and I stated the price support would range between 28,300 and 28,800. We got our drop and we got our support. I remained bullish. One post ago, I anticipated a breakout to the upside due to patterns remaining bullish. We got our breakout to the upside. But...

stewdamus

A quick look at our VIX chart shows us that we are range-bound since June. Exactly, as I expected and have stated numerous times in past posts. But now, with the U.S. credit rating downgrade, fear has spiked. Will we break this range and move up? We could, yes. But to do so, we need the VIX to move above that 15.94 level with confirmation. As of today, the VIX can...

stewdamus

Traders, The dollar continues its journey down. So, is my H&S pattern still intact? Well, on the weekly it is. Does that count? I think so. It's not like the dollar has turned the corner here and growing stronger. We are still very much in a downtrend. Even that right shoulder is still valid. And, like I said, on a weekly chart that neckline still holds. Once...

stewdamus

Traders, In my last post I alluded to SPY. I stated that it remained in breakout territory which is still true today. I stated that as long as we remain above 450, I remain bullish. Still true. In fact, all that has happened here is that we have a classic retest of previous resistance taking place currently. If we break below, another story may unfold and I will...

stewdamus

Traders, Just a quick little update here. I pointed out this bullish triangle in a previous post. I had suspected we had one more small drop to 28,500-28,800 before any sort of breakout OR breakdown. So far, neither of the latter has occurred yet, but we have hit my support marked price level. That's great. Also positive is that we remain above this support and...

stewdamus

Traders, These lower prices have been causing some anxiety among traders. Is Bitcoin about to drop even lower? Could it even fill that BTC CME Futures gap at 20k? Well, as you know, anything is possible. But we’re about trying out best to find price movement with the greatest probability. And so, that is what I’d like to look at today. First off, let’s rule out...

stewdamus

Hi Friends, This week, in lieu of a video, I'm going to give the update via static post. Bitcoin is still ranging as I stated it might continue to do in my last video and the accumulation in this range is extremely bullish IMO. Now, I know there are many analyst who want to claim this is a Wyckoff distribution with the potential being down at this point....

stewdamus

Traders, I'm a bit over-weighted in my public portfolio rn, but I really do like this setup in the DeFi coin JOE. Bullish Indicators: *Hidden Bullish Divergence on RSI *Close to Bullish Triangle Exit *Above the 200 Day MA Bearish Indicators: *Under the June 4th Crash Level *Possible re-trace to bottom of triangle If I were to enter here, I'd have a...

stewdamus Updated 

Traders, As suspected, a favorable ruling on XRP. Head and Shoulders target was achieved and more. I held to .75 cents and sold half for profits. The remaining balance I will hold with a breakeven stop out. Congratulations who followed me in this trade! We were able to double at least half of our trade. I have a feeling the remaining balance will do even better...

stewdamus

Classic Retest here. Due for a pop. Position = ALGO Direction = long Entry = .1118 Stop Loss = .0919 Take Profit(s) = .1537 Risk/Reward = 2.25 Leverage = NONE Profit Potential = 37% Not financial advice. Just letting you all what I am doing. Best, Stew

stewdamus

Traders, Atom dropped from it’s ascending channel and soon afterwards found strong support at the top of the triangle for a classic retest of previous resisntance/now support. A break below this and we should be looking for exit points. I have set mine at approx. $8.50. Target is the June 4th body high at around $10.75 Position = ATOM Direction = long Entry =...

09:45

stewdamus

Traders, I made a critical data error in my last video in stating that the level we were looking to beat to become more optimistic was June 23rd. That is NOT correct. The date we are looking to beat is June 4th, the day before the SEC lawsuit again Coinbase and Binance was announced. So, you want to draw a horizontal line from that body high on that date as...

20:06

stewdamus

Traders, As promised, I am doing a quick overview of current price action in our altcoin space. I will cover an important date, June 23, and why it matters. I will also review the channels that are forming on most alts which appear as though they could be mid-term bear flags. And finally, you will see me review some of my current trades and what I am looking at...

19:59

stewdamus

Traders, The big news this week was that inflation is now just under 3 percent! This is hugely bullish as any further certainty as to what actions the FED will take in the future only aids in investing confidence. Along with this news, we will cover the dollar decline, VIX 2-year low levels, and stocks beginning to break out even further, confirming my long-held...