Pull these charts up on your radar. They are key. With today’s spike on the VIX, we may see key resistance and support lines break. If any one of these critical trendlines/levels are broken, much more caution is warranted on the long side. Let’s quickly run through the charts I am observing. DXY - A break to the upside of that macro uptrend (with confirmation on...
Traders, Keep a close eye on this breakout on our fear index. So far, nothing significant has followed to the same level of price movement: the dollar is still under its macro-uptrend resistance, the US500 is still using its macro-uptrend for support logarithmically, and the US10yr/US2yr remains under resistance. But we want to track this closely to find out...
Traders, There are two cautionary indicators that I want you to be aware of and to watch closely this week. One of them has to do with U.S. treasuries which lead our dollar strength/weakness. The other has to do with the 200 week moving average on the Bitcoin chart. Let's dive in and take a look at these two very important lead indicators. Stew
Traders, Looks like the Cup and Handle pattern I anticipated previously is being legitimized by recent price action. Here's where we go pending confirmation on the daily. Stew
Traders, My proposed C&H pattern is currently in the process of being confirmed. The neckline has been broken to the upside. I'd like to see another candle or two on the daily closing above $24,200 for me to become more confident that this pattern is actually legit. Once we get that, get ready to go. All crypto should follow. Target = $33-36k Time = 3 weeks - 2...
Traders, Though caution is still warranted in these conditions, you are not wrong to begin your dollar cost average (DCA) in for some of the larger cap cryptos such as Ethereum. If we are not at a bottom yet, we are certainly near it. And from all the data that I am seeing, the next few months should be pretty decent for crypto. Take a look at this Eth chart....
Traders, The Dollar really wants to make sure that its resistance overhead is legit. From a technical perspective, I love this! Should the dollar remain below my macro uptrend line, it will be all bulls for the next few weeks/months in the U.S. stock markets. The dollar should continue its sideways/down movement during the same interim. If the VIX is any...
Traders, My anticipated Cup and Handle pattern looks, indeed, to be forming. The question remains on whether it will play out or not? If bulls are able to break that neckline at $24,200 then, over the next few weeks to months, I do expect them to continue to pull Bitcoin towards that target of 33-35k. Seems hard to believe I know but this is what the technicals...
Traders/Investors, Everything is playing out as expected. This is good news, however, we must always proceed carefully, cautiously, and with good trade strategy. Previously, I indicated what indicators we are waiting for to enter/re-enter this latest bull move. Those indicators have occurred. Now, we must look at what could be next. Stew
Traders, From a technical perspective, the dollar is doing exactly as it should. Technical analyst should have expected a retest of what was previously very strong support. We have now observed that retest and the dollar has permission to continue its descent. If descent is not immediate, sideways action can be expected. But, least likely, is the possibility that...
Traders, I believe this chart is so important it warrants revisiting the data. Indeed, the fed has to be cognizant of this same data and is most certainly is watching it closely. Therefore, we must do the same. In this video, I am going to explain why the housing market data, even though it's week, supports my thesis of a blow-off top in the stock markets this...
Traders, The market expects 25 basis points tomorrow. What they are unsure of is how it will look in March. While the fed may indicate yet another rate hike in March, the dollar, vix, and treasuries are telling us else wise. Let's take a spin through our lead indicators today as well as Bitcoin. Stew
You all know that I have been talking about this blowoff top thesis for quite some time. I have good reason to believe we are beginning that run today. Let's talk about the details: where we're going, what is the time frame, and, most importantly, how should we trade this? Stew
Traders, You all know that I have been expecting and discussing this day for many moons now, the day we break above our macro downtrend. Today is that day. Day 1 of what I expect to be a blowoff top that will surprise many investors, maybe a majority of investors. Before I get ahead of myself in enthusiasm, we will need another confirmation candle here on the...
Quick update on Bitcoin. Our old Cup and Handle pattern has been completed and the target was reached. Now, it appears as though a new Cup and Handle pattern is forming. Let's take a look at the charts and find some good entry/re-entry areas. Stew
Traders, Exemplifying surprisingly bullish price action, Bitcoin has blasted through huge amounts of resistance and has now achieved its target. On both this chart and my log chart, the levels of resistance that have been broken overhead are not to be taken lightly. They almost certainly will act as good support going forward. The resistance that has been...
Bitcoin bulls are on the move again. Do they have the strength to defeat these two intersecting macro trendlines? We'll soon find out. ⛓️ 🔗 Useful Links 🔗 ⛓️ My Chart:
Fed claiming to continue rate increases. 2-year treasuries calling, "Bluff"! One of them is lying.
