bitdoctor

bitdoctor Updated 

We are quickly finding some rejection at this trendline as I expected we would. What I want to point out is there is an important 61.8% internal retracement up above and it looks like we want to test it. From a horizontal perspective, it looks like there's going to be a lot of horizontal resistance in that zone if we do happen to test it. Why is this level...

bitdoctor

Roses are red Violets are blue You should be taking profit I have but have you? There were so many different buying opportunities outlined on the chart here going back into late December and early January but it has run and we're starting to create a very large ending diagonal. It's best to take profit on any position that may be open on ROSEUSDT. I do not...

bitdoctor Updated 

I've been talking about being bullish. Buying the dip. Waiting for a pullback. Well we got it and everybody ended up getting bearish. We're to the point where I do expect there to be some resistance. If you're a counter trend trader, you could go short here. Get out if we get above the trendline we're rejecting from. Your target would be the short term demand...

bitdoctor Updated 

ZEN sat there and consolidated below $11.00 for quite some time and tried repeatedly to break out. Your first sign should have been on the first two false breakouts. There's a single lesson to learn here: ** Tested levels get weaker each time ** Ok, now that you've learned that lesson, you are a professional, right? Nope. The market has a way to mess with your...

bitdoctor

Watching the SPX futures, I have my eyes on the roll/expiration dates for ES. This is mid-March (Mar 17). The trendline I have in white will likely break at some point. We can see some clean confluence that we've got a bit of resistance at this declining level. Are we going to see a new local low before we go up or are we going to go straight up from here? The...

bitdoctor

So far we're flowing exactly how I expected. We just got a pullback... but we did not retest the running trendline (the trendline with the increased degree of rise). We now look like we're on the move down after a little correction. The next few weeks will continue to give us clarity. Breaking some of the horizontal supports would increase confidence that the...

bitdoctor Updated 

I've been watching ASTR for a while now and although I am already somewhat long on this (risk is well defined), I'm looking for confluence for an upside target. If BTC does nothing and ASTR vs BTC goes up to 300 sats, that's a 21.5% increase from where we are today. If BTC increases AND ASTRBTC goes up, then the increase will be exponential if you're looking at...

bitdoctor

Just a couple notes going into the next 24-48 hours. It's likely we move up into 4250 (ES, not SPX) in the next day or two before we start a decline. Watch for a 5 wave pattern down and expect that may be the beginning of a larger decline and catch the 3 wave pullback. Keeping it simple today. Market opens soon. Trade carefully! Cheers!

bitdoctor

Taking a quick look at ETH to make sure my thesis is still intact and it would appear that it is. I expect a ceiling in Ethereum this year to be somewhere around 2000-2500 and more likely the upper range, but not in this thrust. I believe we're in the final stages of wave (iv) and will go in for wave (v) soon. I don't think that'll be the top, though. Likely...

bitdoctor

BTC has found support at a key level but from a fibonacci standpoint, it looks like we're in the middle of two important zones at the 23.6 and the 38.2. What does this mean? We're looking like a pivot for a few days is among us and support is likely to be found at the $20800 area which is where the 38.2 is and where I expect this larger degree wave 4 to...

bitdoctor

Apple will have its day at new highs and that's what long term investors need. For those of us that are looking to make short term money, I'd say that it looks like aapl wants to test that 61.8% near 160 before starting a deeper decline. There's still a lot of bears out there evidenced by the options open interest through March so this will take a while if it...

bitdoctor

Taking a zoomed out look at TSLA does give some signs to the possible path forward. First, we can see that there was a steach rise in the early 2010's which was followed by chop for 6 years. Pre-split, TSLA was ranging in the $180 area. After the final drop in early 2019, momentum really started to pick up. Buyers flew in and demolished anybody that was short on...

bitdoctor

Quick update on the bump and run reversal idea that I posted several weeks ago right when we broke the trendline. At the time, I was super bullish on crypto in general because I've seen this structure play out many times in the past. So far, TETHER dominance has continued to slide which is an indication that other crypto assets are continuing to rise. There are...

bitdoctor

Ok, I'll humor you all for a moment here and take a look at the expanded flat scenario on BTC. Personally, I am not a fan of this because it means we will see NEW LOWS by the end of THIS YEAR . First off, nobody really wants that right now. There's still a lot of bears in disbelief and there are so many out there that have missed on insane profit opportunities...

bitdoctor

We've got quite a few things going on with the markets but one thing I can't ignore is the fact that Bitcoin had a massive dump after FTX that liquidated huge players. SBF played games with investor funds where he shouldn't have. What happeend to Bitcoin, though? It would appear nothing since we're trading higher than we were when that news dropped. BTC has...

bitdoctor

I've been a bull all year and that has paid dividends. Now is the time where I'm cautious. Mostly because of the structure. I can see some upside in the next 24-48 hours, but then I believe we're going to see a little downside going into Valentines Day. No, I'm not talking about a nose dive into the $5k region. I'm just talking about a move potentially down to...

bitdoctor

Looking at the ethereum chart and it’s clear that a major correction has completed. Problem is too many people think the bottom is in. Don’t get me wrong, a bottom is in but now the market is in a phase where short sellers are going to get their faces ripped off. The phase of the market where bears are late to the game. I wouldn’t consider shorts until ethereum...

bitdoctor

I alerted here the start of a bump and run reversal on USDT dominance on January 12th. At the time, I said: "Technically speaking, spot positions in alts are your best bet. Watch BTC dominance (hint - it's rising, too), however I think alts may be about to pop soon if BTC can stay above $18k." BTC at the time was just starting to poke at $18,000 and it was only...