Chris_Inks

Chris_Inks Updated 

Good morning, traders. As discussed on last night's live stream, Bitcoin is starting to show some retracement which it needs in order to continue further appreciation. The more controlled the retracement, the more bullish it is. Remember, even though we've had some great bullishness recently, it could potentially be a corrective sequence before a continued bearish...

Chris_Inks

Good Monday morning, traders. Last Friday I warned, after the shakeout, that I wouldn't want to be short as it appeared the larger interests were filling longs. Fast forward to today and here we stand this morning at about $300, on average, higher than that shakeout. So what does this mean for our current situation? Are we going up or down? After this morning's...

Chris_Inks

That recent price movement caused Shorts to gap up pretty large. That leaves the price area clear of resistance. Should be a much easier path up for price now.

Chris_Inks Updated 

Good morning, traders. It's Friday and we've almost made it through another week of trading. Just when retail traders are ready to throw in the towel, Bitcoin gets a boost minutes before the end of the day and prints a potentially strong bullish reversal candle as we discussed on last night's live stream. However, we still need to see actual follow through because...

Chris_Inks Updated 

Good morning, traders. The week is winding down but Bitcoin appears to be heating up. Overnight we saw price dip down to around $6128 on Bitfinex. As mentioned in the live streams, this has been a possibility and it took price to the 61.8% fib area which is perfect for getting the most bang for your buck out of a retracement. Taking a look at the 1H chart, we...

Chris_Inks

Good Wednesday morning, traders. Bitcoin has managed to hold support at the S1 overnight, as I mentioned yesterday it was likely to do, and appears to be attempting to push higher. A bounce from this level has the potential to be quite bullish with everyone calling for a failed rally already, but it hasn't failed...yet...which means it bears (no pun intended)...

Chris_Inks

Good morning, traders. Bitcoin has finally been making some movement that we can look at, and it's nothing that we haven't been talking about as a possibility for a while now. Specifically, overnight we saw Bitcoin retrace 50% from its recent run up. Now things are becoming more interesting. The potential IHS in development that I have been referring to recently...

Chris_Inks

Good morning, traders. Bitcoin has finally been making some movement that we can look at, and it's nothing that we haven't been talking about as a possibility for a while now. Specifically, overnight we saw Bitcoin retrace 50% from its recent run up. Now things are becoming more interesting. The potential IHS in development that I have been referring to recently...

Chris_Inks

Good morning, traders. I hope you had a relaxing weekend. Apparently Bitcoin has no chill which has traders quite confused, but we've actually received a lot of information over the past few days if we've been paying attention. Bitcoin closed the July 7th daily candle above the daily pivot. A breach of the pivot from below, and subsequent close above, is...

Chris_Inks Updated 

Good Friday morning, traders. As we can see, price has continued to follow the path we outlined earlier this week as it has worked through its retracement. Again, retracement is a good thing since it allows buyers (in this case) to gain some support and build momentum for another impulsive wave series up. As usual, there are no guarantees in trading, so a move...

Chris_Inks

I realize there's a lot of dogmatic bearishness out there trying to convince everyone that we MUST go down. However, they fail to grasp the importance of what has happened. Price has pushed cleanly through, and remained above, the 2-month long descending broadening wedge. This is one of the most consistently bullish patterns found in markets, especially crypto....

Chris_Inks

Good morning, traders. For those in the U.S., I hope your Independence Day was filled with good times, good friends, and good memories. If you joined us yesterday on the live stream, we discussed Bitcoin's price action and the expectation for it to ultimately retest support around $6200-$6300 (2 month old descending resistance line, possibly turned support, and...

Chris_Inks

Good Tuesday morning, traders. Price is doing what I mentioned that it needed to do last night -- retracing. Buyside needs the time to recollect itself before another push upward. Failure to do so results in a failed push and lack of energy for the buyside to negate the effects of the sellside which could see price falling further downward. Retracement is an...

Chris_Inks

Good Tuesday morning, traders. Price is doing what I mentioned that it needed to do last night -- retracing. Buyside needs the time to recollect itself before another push upward. Failure to do so results in a failed push and lack of energy for the buyside to negate the effects of the sellside which could see price falling further downward. Retracement is an...

Chris_Inks Updated 

Good morning, traders. After Bitcoin's explosive move up on Friday after CME June Bitcoin contracts expired, we have watched price consolidate throughout the weekend. However, rather than a strong retracement down to the $6150 area, ultimately price has only made it to $6260 which is just beyond the 38.2% level. While not ideal, it is enough to produce momentum in...

Chris_Inks

Good morning, traders. Remember, CME Bitcoin June Futures expire at 10 a.m. CST this morning (www.cmegroup.com), monthly close is tomorrow, and weekly close is on Sunday. So as I've mentioned in the live stream, any potential reversal that may occur could happen at any time today through Sunday. This doesn't guarantee we will see a reversal, just that there are...

Chris_Inks

Good morning, traders. Remember, CME Bitcoin June Futures expire at 10 a.m. CST this morning (www.cmegroup.com), monthly close is tomorrow, and weekly close is on Sunday. So as I've mentioned in the live stream, any potential reversal that may occur could happen at any time today through Sunday. This doesn't guarantee we will see a reversal, just that there are...

Chris_Inks

Good morning, traders. Remember, CME Bitcoin June Futures expire at 10 a.m. CST this morning (www.cmegroup.com), monthly close is tomorrow, and weekly close is on Sunday. So as I've mentioned in the live stream, any potential reversal that may occur could happen at any time today through Sunday. This doesn't guarantee we will see a reversal, just that there are...