MarcPMarkets

MarcPMarkets Wizard

Bitcoin first pushes all time highs earlier in the week, followed by a 10K point retrace, only the climb back to the top and push the highs again. Wild price action for sure, but what does this mean in terms of the probability of continuing higher? The fact that price retraced 10K points in one day is very telling and demonstrates the amount of risk one faces at...

51:25

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin has rallied over 10K points from the 52K break out level that I wrote about in my previous article and refuses to deliver a meaningful pullback. In situations like this, you must not give in the the hype and fear of missing out. I see talk of 100K, etc. and all the video titles popping up on my feeds. What you should be focused on is how to best...

MarcPMarkets Wizard

Bitcoin continues to find support around the 50,500 area. This is particularly important for intraday strategies. The consolidation that Bitcoin is within is still part of what looks like a Wave 4 configuration. This wave can expand to 48K and even lower and still maintain the integrity of the broader bullish impulse structure. The idea here is to look for trade...

62:38

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin has pushed the 50K resistance area and peaked in the 52Ks. The recent bearish pin bar has signaled a swing trade short which is not following through (no surprise there). Over the coming week it is within reason to see a retest of the 48K area support. This is the price location where a high probability swing trade long setup can appear and where I am...

64:20

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin is now pushing into the 50K AREA resistance zone while presenting a potential momentum continuation pattern (inside bar). A break of the inside bar high can lead to a test of 50K and possibly higher. The zone between 50 and 51K (blue rectangle on chart) is a high probability bearish reversal zone which means unattractive place for new longs, especially for...

41:16

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin price structure has not changed much since the FOMC and NFP events of the previous week. The 40K key support that defines the broader trend is STILL intact. This means my swing trade idea (long off reversal from 40K area) still stands (see illustration on chart). What I want to point out is IF price does not retrace to 40K, but instead breaks higher into...

55:32

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin failed attempt to break 40K means the broader support area is still in play. While the broader resistance is 45K, the minor resistance is 42.5 which appears to be affecting price now. IF a bearish pin bar appears at this location, it increases the chances of a bearish retrace back into the 40.5K area. THIS is the scenario I am looking for in order to...

46:17

MarcPMarkets Wizard

Bitcoin trend, key support/resistance levels and expectations for the coming week.

MarcPMarkets Wizard

Bitcoin holds 40K support which means broader trend continues to be bullish. One more push into the 45K resistance area is likely during the week ahead. This push can be a minor B Wave, which means potential is limited and expectations should be LOW for longs. If the 42,250 high is cleared, a new swing trade long signal will be in effect. On the other hand, IF 40K...

49:20

MarcPMarkets Wizard

How to trade the Bitcoin pullback and the significance of the recent peak.

MarcPMarkets Wizard

Bitcoin rejects the 50K resistance area and goes from 49K to 41,500 over a two day period. If you have been following my analysis on here you should NOT be surprised. I have been highlighting the extreme risks above 46K in my articles AND my streams since the beginning of the month. Is this an adequate pullback to buy into? I will address that now. The first...

54:53

MarcPMarkets Wizard

Bitcoin price action analysis, and bot signal review.

MarcPMarkets Wizard

Bitcoin attempted to break out coming into the New Year holiday establishing a higher high at 45922 followed by a SWIFT rejection back into the range. While a new high was technically made, the failure to follow through means Bitcoin is still arguably consolidating between 40K support and 45K resistance (Wave 4 extension?). In this brief article I am going to...