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Happy Tuesday. The expected Upward Thrust (UT) in Phase C did appear, and it came with both the volume and PA one would expect for a bullish move up. The larger question is – does this mean the formation is bullish rather than distributive? Looking at the 15M Intraday Chart, it appears as though the formation had a bullish breakout with Move 1 taking the PA to...

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Happy Friday. With the current news about the young trader on Robinhood who committed suicide after racking up $700k in losses, be sure to never trade more than you are willing to lose, have a plan and stick to it. Trading and surfing have a lot in common – every wave is not the right set, so look for your set and let the others go. Plenty of great opportunity...

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Happy Thursday. Currently the formation has completed Phase B of a Wyckoff Distribution and is moving into Phase C of a Wyckoff Distribution – arguably the most volatile of all the Wyckoff Phases. I believe the PA appears to be headed lower in the near future for a number of key reasons: The formation has remained constrained beneath the trend line (on the 4H...

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Happy Wednesday. Today’s analysis will be a bit brief and focus on the activity of the 4H Intraday chart for a potential short setup. Looking at the 4H Intraday Chart, the PA continues to remain underneath both the resistance range at the $9,480 price handle and the trendline established at the final Upward Thrust After Distribution (UTAD) at the $10,000.00 price...

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Happy Monday. Well, that escalated quickly. Looking at the 15M Intraday Chart, that breakdown below $9,000 to the $8,900 price handle took virtually no time at all for a Wyckoff Distribution. The PA for the formation could never break above the $9,480 price handle, even on successive attempts on very anemic volume, which signaled a move lower appeared to be in...

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Happy Saturday. My price target for that most recent breakdown missed the bottom by $20 (too low), so I have some mixed feelings on that one. However, I do hope everyone found an entry into a short position. This climactic breakdown to $9,060 during the Phase E Wyckoff Distribution exhausted the full cause built into the formation during the last distribution...

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Happy Thursday. While Bitcoin pushes forward into a more bearish market in the near term, the news cycle around cryptocurrency and stablecoins continue to dominate news cycles and continues to be very upbeat. Bank Frick, the cryptocurrency friendly bank in Lichtenstein, now processes payments in USDC as an alternative to processing payments via the SWIFT...

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Happy Monday. It seems the season of change for Bitcoin may be upon us in the near term, which again seems counter-intuitive considering the current news cycle. Nevertheless, it can provide some excellent buying opportunities for cold storage at excellent value as Distribution pushes forward. With that, let’s get into the Trading Analysis… The 15M Intraday...

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Happy Friday. It seems the season of Bitcoin may be changing, which of course seems counter-intuitive considering the current news cycle. While the market seems to be preparing for the next legs down, on the fundamental side, it seems Bitcoin is finally getting its due. Recently the acting Comptroller of the Currency Brian Brooks solicited input from the public...

FOFAgent1 Updated 

Happy Thursday. Sometimes it’s amazing just to see relentless pressure to push the PA higher. Seems now Bitcoin is being taken even more seriously as a competitor to conventional fiat currencies - Enough so that Bitcoin Core has just released a new experimental software update called “Asmap” which is designed to hedge the chain from potential malfeasance and...

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Happy Wednesday. I hope everyone ended up relatively unscathed with the boomerang Bart action this past Monday evening. Never a dull moment trading Bitcoin. It’s interesting to see the discussion around digital currencies begin creeping into the US elections campaign narrative recently. Two days ago, US Representative Cynthia Lummis had a very wide-ranging...

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Happy Monday everyone. This morning on CNBC I came across an interesting article about the current global dollar shortage and the moves the FED is taking to provide access to dollars during this massive (and temporary) surge in demand. It’s fascinatingly counter-intuitive in light of the recent waves of money printing from the FED and the US Treasury. A Global...

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Happy Wednesday everyone. I woke this morning not only to a breakout above the Redistribution trade range this morning, but an interesting Tweet from Barry Silbert about the slides in the Goldman client call this morning as it relates to Bitcoin. "We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a...

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Hopefully, everyone managed to have a great Memorial Day yesterday filled with a little bit of the normal we are all looking forward to returning. Looking at the Intraday Chart, the formation appears to remain solidly within a second Wyckoff Redistribution. After the Selling Climax (SC) at $8,640 established the floor of the Redistribution trade range, the...

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Happy Memorial Day to those based in the US. I’m hoping for a fun day filled with BBQ and all the other requisites a lazy summer holiday should require. Hopefully, everyone managed to find a short position before the next Wyckoff Distribution leg took hold. Looking at the Intraday Chart, the Wyckoff re-Distribution range did not take long to play out. Once the...

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It’s been an interesting 24 hours or so with Bitcoin as the PA has been largely confined to a very tight trade range. Much as it can suck waiting for a definitive move, patience is the better part of valor in these scenarios to avoid getting chopped up. Looking at the Intraday Chart, it appeared as though demand came back into the market and established an...

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My hope is most were positioned in a short for that drop to the $8,800, got a chance to cover and move into a long to enjoy some of the bounce once the bottom of the new TR was established. Looking at the 4H Intraday Chart, supply came into the market and pushed the price of BTC to a low of $9,300 before recovering to the $9,600 level and subsequently falling to...

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Much like yesterday, my hope is that regardless of what Technical Analysis you use, either you were positioned short or sold at the top before the second leg down of the Wyckoff on the never-ending quest for the low end of the trade range at $8,120. Looking at the Intraday chart, the Low Pole Reversal first hit the 50% reversal target of $9,440 before pushing...