all in the chart. Hangin out at the golden pocket from our move from 52K - 33K currently getting a strong 4hr candle reaction off the second test of the 44.5K level only tested the highs once lots of volume built up here, makes since that we get above 50K and then maybe talk about reversing
My last trade suggestion I decided to go short from 58.5K to 52K on BTC for a number of reasons. Though today was scary.. If we hold here on high time frames this could be very bullish. Technical target of the rising wedge from a few weeks ago was around 53K.. as you can see by where we bounced, it seems that we retested our previous breakout from october. We also...
Once again on macro time frames we are seeing harsh rejections and even/lower highs. As well in the short term most indicators flipped bear/we also have a nice rising wedge (bearish) formed on the lower term time frames to. Closing higher time frame candles below the weekly open (57300/ POINT OF CONTROL) will most likely result in more downside in the short term....
Based on a ABC correction + 12345 impulse combo, on the daily time frame it looks like we are finding our bottom (hopefully) Confluence with big fib level make this look nice. No bear structure formed yet for macro trend. Time will tell
Alright so, that correction was fast but IMO it was necessary for bitcoin to continue further in this second leg of the cycle. I was short and made some good profit but now am in some long positions.. not perfect entries but that's ok and here's why: 1. Lots of people are taking this correction as a break of bull structure in the recent month or so, however I...
Bitcoin has broken down from our bear flag with a technical target of 60300! But in terms of macro structure, it is forming a falling wedge pattern which is typically bullish. What Im hoping for is a chance to go long closer to $60,000 BTC with a fakeout to the downside of our falling wedge, to hit the target of the bear flag and then a big pump back to the upside! NFA
Bitcoin on a high time frame still looks beautiful, however if you are a day trader exercise caution here! Technically speaking, bitcoin could pull back all the way to $53K and still be long term bullish for continuation to new all time highs! However, maintaining a bullish bias as we are in a bull run, I am always looking for bullish market structure to form...
Pattern is drawn a bit wonky but SOL is without a shadow of a doubt bearish. Market structure, MAC D, RSI etc all pointing at downside
Will be watching the daily open of the stock market closely, being very careful. Bitcoin is trying to find it's support but is flipping bearish on low time frame indicators such as MACD/RSI and is showing no signs of reversal. No crazy buy volume.. no "insane" bounce compared to liquidation cascades we've seen in the past. On top of that, lots of BTC and ETH...
As you can see, bitcoin got a massive bounce off of the bottom of our golden pocket in terms of a macro fibinaci! I'm looking for a daily close about the .786 to hold my bullish bias. (Full disclosure am already long) NFA
Bitcoin has broken out of our bullish pattern to new all time high! Congrats holders and as we always anticipate with a pump, a correction is necissary.. however small it may be. BTC appears to be forming a bullflag, looking for a breakout to the upside for confirmation of getting back on track to our technical target of 73K!
ADA is finally breaking out of some massive bullish patterns on high time frames. We are also getting a golden cross on the MACD as well as entered bullish territory on the RSI! ADA has been quite for awhile and as we've seen in the past, when these rallies start they tend to be explosive.
My Solana long filled at 244 and I have closed my short that I was initially planning to ride back down to at least the $230 range, here's why. With bitcoins convincing break up last night, it seemed inevitable that alts would begin to move. (This was speculative and a bit of an ape move I know but let's look at the market structure for SOL at the moment.) Since...
Update to bitcoin following the weekly close. The triangle pattern we identified on the daily time frame has finally broken out to the upside! A few things to keep in mind here.. not a ton of trading volume on this breakout so could this be a fakeout? If no fakeout, our next level of resistence to the upside is the previous high and after that Im looking to the...
Solana is forming a bearish market structure with a rising wedge pattern forming on the lower time frames as well as being extremily overbought on the daily RSI. True, we just put in a nice all time high however, nothing goes straight up. Macro time frame I think SOL has a long way to go this market cycle, however I think it's time SOL makes a healthy correction...
As you can see by my chart, ETH though cooling off, remains in bullish territory. Its been moving in an uptrend for a few weeks now and I anticipate we will be seeing a $5,000 ETH before this structure breaks. When structure is broken, I will be looking to buy back in from $4000 down to $3600. (DCA IS THE WAY) Keep in mind if Bitcoin breaks down, its likely ETH...
BTC has formed a continuation pattern on the daily time frame and we are nearing the apex. RSI has cooled off and remains in bullish territory indicating room to run. We also havnt seen btc close 4 daily candles red in a row since august, which is highly speculative but I think we see some up action very soon. If market structure breaks, 53K is my absolute worse...
Sol blew right through my technical target of $231 from the breakout of the falling wedge identified a few days ago. Showing overbought on high time frames with bearish structure forming on low time frame indicators such as the RSI while Mac D still attempts to climb. Personally I am short from $243 but BE CAREFUL. SOL seems very Euphoric at the moment and even...