Traders, I know. It's hard. I have been preaching this neckline retest for almost 2 months now. And this sideways action is soooooo boring. But here we are. With less than 8 days before the U.S. resolves the debt ceiling issue, the market is now finally starting to take note. We must remain patient here as some of the bulls begin to let go of their bags. Once we...
Traders, The title says it all but I will show you why I am starting to grow bullish on altcoins here. Stew
Traders, I am hearing many, if not most, technical analyst now swinging back to the bullish side. But there are a few things that cause me to be wary of such sentiment just yet: #1 - The attempt by the bears to reach our target down on that H&S pattern, was weak. 25,8k was NOT the final target. I expect 25.2k at least. Maybe even a wick down to 24.2k before we...
Traders, As you know everything is about the dollar rn. What it does determines what the rest of the U.S. market does. And, so far, what the U.S. market does has been helping us determine what Bitcoin will do. Bitcoin, being the lead dog, shows us what the remainder of the alt space will eventually do. This is how we follow the breadcrumbs to our next projected...
Traders, A wick down tagged our neckline precisely as expected. Now, we’ll probably incur a few more days of price action down in this area, but I’ll buy now to be safe. It’s only 50 dollar down to that neckline. Target will be 3,000. SL will be 1500 for now (to be adjusted as that 200 day ma moves up). More trades to come. Stew
Traders, As outlined in this mornings video, altcoins remain relatively strong as compared to Bitcoin. This is a bullish indicator that alts may be gearing up for a bit of a run in the next few weeks/months. Another chart to keep a close eye on, of course, is our BTC.D (Bitcoin Dominance) chart which is currently showing a bearish Head and Shoulders pattern....
Zoom in and you will see that Regional Banks have closed several times now below this critical trend line. If the Fed fails to save them, deflationary recession/depression it is. I am banking on a Fed save. The Fed always protects it's own. Therefore, blow-off top incoming. Followed by hyper-inflationary recession/depression next year. Should be a show. Stew
Traders, As stated yesterday, pending Bitcoin price action, I may unload my Alts for profit/break even. All I sold just now (algo, audio, xrp) was barely in the green. But at least is wasn’t a loss. I do not like how the altcoins are responding rn to BTC’s H&S breakdown. As suspected, alts are mirroring the move down and should it carry on, I imagine alts will...
Algo has also entered my target down area and with the daily RSI into oversold territory, I believe this is an appropriate area to enter. Yes, Bitcoin could still come down to that 25,200 neckline area or lower, dragging ALTS down even further, but I have set my entry targets for these recent alts trades and will stick to the trading strategy at this point,...
Head and Shoulders pattern. Now on the neckline. If it breaks, 25,200 is definitely in the cards sooner rather than later. And, from a technical perspective this would be both beautiful and extremely bullish Bitcoin! You all know I have been anticipating this retest for over 5 weeks now. Let's see if we can achieve what would become a gloriously bullish retest of...
Audio too has reached it’s target down with a touch of the 200 day ma as I have been expecting for some time now. Picked some up at .23 cents. SL just below that .20 cent support somewhere pending RT. Selling along the way up at the various resistance levels above. May hold some to that .39 cents mark again. Best, Stew
Traders, You know I have waited patiently for this one. For three weeks plus, I have set my entry area at .42 and I have remained disciplined, staying out of the trade until entry target was reached. Today that was achieved. In fact, I even got a better deal with an entry at our 200 day ma. Target depends but I am shooting for those levels above and may hold a...
Traders, Bitcoin has reached the end of a very important triangle. It's time to make a decision. This week we should find out if: 1) Bitcoin breaks up and beats our 30,500 resistance, or 2) Bitcoin drops from our triangle and retests our C&H neckline at 25,300 We are going to dig into the charts for a few more clues and I want to show you the charts that are...
Traders, Though, I've expressed this all along this past year, regional banks are now confirming everything I've stated regarding JPOW and the FED only having two choices about the future of the U.S. economy: deflationary recession/depression OR hyper-inflationary recession/depression. The line in the sand has been drawn and crossed. Should the FED attempt to...
Regional Banks have always led our economy during booms and during busts. You will note from this simple chart that one key trend line has measured our current secular bull market. Regional banks have remained above this trend line since it was first touched in 2009. Excluding March 2020 (Covid19), which is not valid data, regional banks have never dipped below...
Traders, We have now touched the underside of our macro uptrend (3) three times and the bulls have been unable to break to the topside again. Is is time for them to sit the bench for a few weeks, get their wind back, and let the bears take us back down to retest that 200 day one more time? It might be. Stew
Traders, Will this week or next become the moment when BTC bulls take a break and allow the bears to have their neckline retest? We will find out soon. Let's take a look at my chart to explain what must occur. There is one critical level that BTC must remain on top of if these bulls are going to continue this run. Can you spot it? Before I get to what is key for...
Traders, The crypto bears are still very clearly in control of our market. In this video, I recap the weekly crypto market price action and explain the case for the bears. Bulls have yet to prove themselves with a conquering of that $30k price resistance area. A retest of our neckline at 25,200 (Bitcoin) can still be expected at this point. Stew
