thelogicaldude

thelogicaldude

Hear me out... I know it's just a couple of days before the halving, but the selling pressure is still strong on BTC and has hit the 60K level without showing signs of slowing the pace to the downside. This makes me think that 50K-52K is possibly in the cards because there really isn't much support until that zone as the order blocks are showing on the 4hr...

thelogicaldude

Since creating the Logical Trading Indicator, my trading game has changed in a big and positive way. But I have been curious as to how I can make an automated strategy with it and how much it makes. The Logical Trading Indicator has many different signals and alerts that you can use to create your own trading strategies that work best for your trading plan. Over...

thelogicaldude

It's been a good day for Bitcoin. The price of BTCUSD has broken some major resistance and is dancing around the $50K level. If we can keep up the momentum and flip this resistance into support, it is off to the races! I know I have been one that has called for a retracement, and it can still happen, but I no longer think that we are going to see any kind of...

thelogicaldude

In my last TA post, I talked about the possibility of Bitcoin heading back to the $35-36 range before the halving, and I still don't think I am wrong about that. Let's take a look at why... Bitcoin is really hitting some resistance at the current range. When I look at other cryptos like Ethereum, it's much of the same. This pattern looks to me like a bull trap....

thelogicaldude

Hey crypto traders, if you don't know about the Bitcoin dominance chart and why it matters for all you traders out there, listen up! So, picture this: the BTC.D chart on the daily timeframe is throwing some serious signals at us. It's like the crypto market's version of a head and shoulders pattern, and it's currently hanging out just above the 50% mark. The...

thelogicaldude

Doing some cycle analysis today and looking at the bigger trends. One thing I have been noticing is the correlation that Bitcoin has with last cycle's action. To me, Bitcoin is on track with last cycle, sometimes you just have to zoom out to see it. Too many times in crypto, people focus too heavily on the lower term time frames, trying to catch profit swings,...

thelogicaldude

I don't know about you, but with all of the hype for the Bitcoin ETF going on, I am staying pretty cautious in the markets right now. Even though there are some big movements going in other altcoins, most eyes are watching good ole BTC. Nobody truly knows what is going to happen, there is a ton of speculation going on and the price action we are seeing is people...

thelogicaldude

The Dollar index has taken a tumble today. Instead of breaking above the neck line of the inverted head and shoulders pattern, the DXY rejected hard off of it, sending the value of the dollar vs other currencies down, in a big way. FOREX pairs are going nuts today, so if you are trading EUR/USD, AUS/USD, or other currency pairs, good for you! The stock market...

thelogicaldude

When the dollar is running, most other assets are dropping. This has been my experience in the markets and is why the DXY is on my watchlist and is ALWAYS one of the first charts that I check before jumping into the markets. When the DXY is high, that means that people are demanding dollars, and when it's dropping, those dollars are flowing into other assets....

thelogicaldude

Yesterday I wrote about a beautiful chart pattern that was forming on the Bitcoin daily time frame that ended up failing not long after I wrote the post. That kind of thing will shake a trader to their core, especially if they thought it was going to play out, but ended up losing their shirt. This is why it is important to set stop losses, so that if the trade...

thelogicaldude Updated 

Would you just look at that beautiful, textbook bull pennant on the Bitcoin daily chart! You can't get much more textbook than that. What I am thinking based on this chart is that Bitcoin will make at least one more big rally this week up to that big supply zone between $47K-49K. How this move happens has yet to be seen. We know that none of us have a crystal...

thelogicaldude

Bitcoin is putting a serious hurt on the rest of the crypto markets this fine Monday morning. It's bust above 40K was powerful and hasn't given much look of slowing up. What I am looking at is the Bitcoin Dominance. WIth it pumping over 54%, this means the the majority of the money in the entire cryptocurrency industry is flowing into the top coin, for now. Once...

thelogicaldude

In this daily timeframe Bitcoin chart, I am taking a look at the current movement, and where we are at on the volume and momentum side to see if we can sustain this uptrend. I am of course on a bullish bias, but you can never discount the possibility of a break of trend, so you always have to look at both options. Trading is a game of probabilities and...

thelogicaldude

Bitcoin has been on a nice run that looks like it is starting to top out on the longer term time frames like the daily. But according to the Logical Trading Indicator V.1, we are still in an uptrend. My trading rules that I set for myself states that I am only looking at LONG opportunities on the short term time frames when the larger trend is still in an...

thelogicaldude

In this post I want to explain how I use the Logical Trading Indicator V.1 that I published as a community script here on TradingView. The following strategy is what I use on a daily basis with a number of different assets, primarily crypto and FOREX, but can work with just about any asset with a chart. This post is not specific to one particular timeframe, but I...

thelogicaldude Updated 

Currently looking for a bullish swing trade on MATIC's 1HR timeframe. Using the Logical Trading Indicator V.2, the BUY signal fired with a bounce from a demand zone, which is showing a possible bottom for the current down trend. Only Time will tell though. I am looking for MATIC to break the .86 level then flip it from resistance to support. When this happens, I...