bitdoctor

05:00

bitdoctor

NVDA is currently at the $118 resistance we discussed previously. I've moved that position to cash for the time being. Swinging some options in case we do get continuation to the upside, though. I'd like to see NVDA come back to $100 where I'd be buying back my equity but for now, just waiting to see what the price action does. Short term upside targets if we...

07:02

bitdoctor

No real substance in the price action overnight. Really garbage price action. Very corrective and not impulsive, which means there is no direction at this time. Just trading in a range. Certainly there are short term opportunities but this range trading tends to lead to reckless trading. Don't get caught in the crossfire unless you know what you're doing. Traders...

04:58

bitdoctor

SPX did have an uptrending day yesterday and we're now positioned. Managing risk is an important part of the game and I don't recommend taking risky trades. If you are in this for the long haul (and you should be!), then you need to be able to understand what managing risk is. Let me take a moment to explain something. I was a heavy buyer back on August 5th on...

05:03

bitdoctor

From a short term perspective, NVDA may find significant resistance at the 117/118 level, and how it acts there will determine the coming months. What I want to see is a nice consolidation / falling wedge / falling channel from that zone to set up for more upside. If we fallback into the channel I've defined, then likely we see further downside, even if just a...

04:46

bitdoctor

Not much to discuss today. Mostly the same consolidation pattern as before. We're bouncing between two support and resistance clusters and until we break out in either direction, I'm not making any hasty moves. Only quicker, riskier trades are available at this juncture so best to just sit on your hands and wait if you're a leverage junkie. Be careful and don't...

06:32

bitdoctor

Taking a quick look at NASDAQ - it's a bit premature but very possible we are in the beginning phase of the creation of a right shoulder in a head and shoulders formation. Again, premature and totally unconfirmed at this point, but I wanted to point it out at a minimum and get your eyes on it. I discuss in the video how to measure this kind of formation, but if...

05:38

bitdoctor

Just a quick update this morning. We made it to my wave 4 target as I outlined on the video late last week, but the rise from that move was slow and corrective so that position was exited. I had standing orders at 59,000 based on it being a psychological area of support, but ultimately even that was too high. We did cut deep but the price action kept us above that...

05:49

bitdoctor

Quick 6 minute update on Bitcoin! Potential small push down this morning to find a bottom on prior consolidation levels and a move to the upside to take out the highs from overnight trading. If this happens, we should see resistance around $64,500 - this is the ideal scenario. Likely not revisiting $50,000 anytime soon - the market already gave two chances for...

bitdoctor

Please refer to the USDT Dominance article I wrote over a year ago explaining what would happen (and what has happened so far): In early 2024, the USDT dominance in the crypto market experienced a significant shift that marked the end of a long-standing trend. This change, driven by a classic "bump and run" reversal pattern, has broken the trend that I have been...

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Today, we're zooming in on a particularly interesting digital asset: DYDX . This article is crafted especially for you to help you understand the market movements of DYDX and how you can potentially capitalize on it. The Accumulation Zone: A Key to DYDX's Movement One crucial aspect to observe in DYDX's price history is its accumulation zone. This is a price...

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In the world of crypto, altcoins like UNI offer amazing opportunities and lessons in market dynamics. For novice investors, understanding these dynamics can be a stepping stone to successful investing. Let’s look into the case of UNI and what its recent market movements can teach us. Understanding UNI and Its Market Significance UNI is the native token of...

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In our latest analysis, we look into the intriguing patterns observed in SPX from October 2022 to October 2023. This period has been marked by significant volatility and a distinctive three-wave pattern that offers insightful implications for traders, especially those new to the market. Understanding the Three-Wave Pattern This analysis begins in October 2022,...

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In this world, staying ahead of the curve is key. I'd like to shed light on the current trajectory of the SPY, particularly since its August 2022 lows, and what you might expect in the near future. A Remarkable Rise Since 2022 Since hitting its lows in August 2022, SPY has exhibited a remarkable upward trend throughout 2023. This rally has been impressive,...

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The cryptocurrency market has experienced significant volatility, and Ethereum (ETH) is no exception. Following a complex correction, Ethereum's current price movement suggests that the bottom may not yet be in sight. In this update, I will dig into the ongoing correction, explore Ethereum's short-term outlook, discuss the potential for a rally, and consider its...

bitdoctor Updated 

Cardano (ADAUSDT) has been a standout in the ever-evolving world of digital assets over the last several years. As I dig into its current analysis, we'll focus on key Fibonacci levels, resistance points, and potential breakout scenarios based on recent price movements. The insights discussed here should help you better understand the current state of ADA's...

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In recent years, AMD has emerged as a powerhouse in the semiconductor industry. Since 2015, AMD has experienced a phenomenal rise, transitioning from under $2 to soaring above $160. This impressive growth has garnered significant attention for traders, especially as we approach a potential milestone: surpassing the all-time high set in late 2021 . If AMD breaks...

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Bitcoin has witnessed a significant uptrend throughout 2023, marking a phase of bullish sentiment in the crypto market. It's essential to grasp the dynamics at play, including market psychology, the impact of leverage, and the role of market makers. The 2023 Bitcoin Uptrend Bitcoin has consistently maintained its value above $35,000, a crucial support level, in...

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The analysis of the S&P 500 futures (ES) presents an intriguing scenario for traders, especially those new to the market. Let's break it down in a way that's easier to understand. Understanding the Market Movements Five-Wave Decline : The ES has seen a decline in a structure that can be described as a 'five-wave' pattern. In market analysis, a five-wave...