


Bitcoin trend, key support/resistance levels and expectations for the coming week.
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...
Bitcoin trend, key support/resistance levels and expectations for the coming week.
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...
Bitcoin trend, key support/resistance levels and expectations for the coming week.
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...
How to trade the Bitcoin pullback and the significance of the recent peak.
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...
Bitcoin price action analysis, and bot signal review.
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...
Bitcoin price action analysis, and bot signal review.
Bitcoin continues to gyrate within the Wave 4 price structure, which implies there is one more leg higher before probability favors a broader correction. Along with that, there is a buy signal in effect now (the break of the 42,600 inside bar high). This signal appears at a relevant level (off 40K support) and IF momentum follows through, has potential to test the...
Bitcoin price action analysis, and bot signal review.
Bitcoin price lingers near previous highs going into a light volume holiday week. With the current wave count still intact, the 46K resistance zone is within reach. The break of 44,500 will confirm the bullish momentum. It is IMPORTANT to keep in mind, that this leg is most likely a Wave 5 that may be completing a broader B Wave (monthly chart). A high probability...
Bitcoin price action analysis, and bot signal review.
Bitcoin consolidation within a Wave 4 which is poised for one more leg higher (Wave 5) IF the 40K support holds over the coming week. At this time, a break above 42,850 will signal a swing trade long in anticipation of a test of the 45K high. IF price breaks lower instead, I will be watching for a test and reversal confirmation around the 40K level support (See...
Bitcoin appears to be in a smaller magnitude Wave 4 (see chart) which implies one more push higher to complete the impulse structure. such a move can see price into the mid to high 46Ks over the next couple of weeks. While this is good news for those who have been or are looking to go long, there is one technical problem that is likely being overlooked by most. I...
Bitcoin price action analysis, and bot signal review.