Traders, Previously, you know that I had anticipated that our pullback might last a bit longer through May. However, today the charts are showing me that this might not be the case. Let's start with the SPY. Originally, I had predicted a touch of the bottom of the RED channel. Then, based upon my analysis of the dollar, VIX, precious metals, and mega-corp...
As I see it we now have two more likely options regarding price trajectory for Bitcoin. Let's first review what has occurred in the past few days. After 9 hits on our multi-year support, we finally broke WITH confirmation. That last part was important. I had stated that if we break and confirm, our first target down would become that first purple ascending trend...
For the 9th time my ever-important multi-year support/resistance trend-line from 2019 has been broken to the down side, but still with no confirmation. Will this time be different? We won't know until tomorrow's candle close on the daily but after all these head fakes I wouldn't be surprised if this is yet another one. 59,300 is key support for Bitcoin rn. Watch...
Traders, We are right on track with literally everything as discussed in previous chart updates and videos. No surprises this week, thus, the short weekend update video. The only new development is that Bitcoin is testing our ever-important multi-year trendline yet again. Will the bulls win this tug of war or will the bears finally find the strength to pull price...
As BTC trends up these past few days, it has formed this bearish ascending wedge on the 4 hour. It is something we should be tracking as we get nearer to a break down. Stew
Traders, As stated in my video on Sunday, all charts/indexes that we have been tracking and utilizing as leads for our crypto price predictions are still right on track. A quick review (left to right) shows: - The dollar has found support and, if my overall thesis is correct, could bounce here and travel up to that 107 target before dropping from our bearish...
Traders, It looks as if the dollar, vix, and precious metals/commodities will continue to trend up, stocks will continue to pull back. Bitcoin is tenuous. But it is possible that altcoins have reached their low, though that low may be retested soon. We'll discuss these subjects in this weekly update. Stew
Where can we find support for Solana? A quick draw of the Fib Fan shows that if our 100 day sma does not hold, we could drop to anywhere from $107 to $122. This would coincide with both the rising 200 day sma and .618 on the Fib Fan, a great area of confluence which would make great support.
Once again Bitcoin is Re-Testing my Multi-Year TrendLine as support. The last 3 daily candles each have a wick poking down at it. Will it hold? So far it has but with each passing day and retest, the chance grow less and less likely. As long as we remain above it, I am long. A drop below would have me taking risk off and waiting for a better price below somewhere.
VIX has broken to the upside of this descending trend line as the world holds their breath over the Israel/Iran conflict. This is the first time fear has broken above this trend line since September of 2022. Pair this observation with the current dollar strength and you know which way the markets will go, down.
As stated in this weekends video update, I expected us to retest the top of the red channel first, with potential to drop back inside the channel and test the bottom. The middle yellow channel is also a less likely possibility. I don't think we'll get down to the green again until AFTER we hit are WAVE 5 target and also, Inverse Head and Shoulders pattern target...
Aptos has suffered during the last couple of weeks making the price especially attractive here. Additionally, we are nearing a good area of support both price-wise and on our RSI. An entry here at 11.87 with a target of 18.00 and a SL of 9.87 puts our RRR over 3 to 1. I like these odds.
Traders, In this video I'll cover the spikes we are witnessing in the dollar, fear, and precious metals (specifically gold). We'll discuss what this might indicate to us from a geo-political/macro-economic perspective. Inflation continues to tick up. The SEC continues to attack big players (tokens/coins) in the crypto space without providing rules for how to play...
I'm going long zeta here. Zeta has reached good support, it is in this bullish triangle, and the RSI is nearing oversold territory. But, I am placing tight stops on this trade due to the conglomeration of my other indicators all still signalling "SELL". I am taking a bet that they will all soon flip. Zeta is an awesome L1 crosschain solution. It's only a matter of...
I like this coin rn for a few reasons: 1. My proprietary blend of custom indicators, which have done amazingly well for me these past few months, are almost all flashing green. 2. We are sitting on the VRVP PoC rn and using it as support 3. The last 3 red candles look like a bull flag to me. 4. "W" pattern has formed and we used that pink ascending TL as support...
Traders, Until BTC gives us something more definitive, I'll be cautious on the long side. Conviction from the market may not occur until after the having, but, as always, we'll be watching the charts for a head start. That being said, there are a few altcoins that I believe are especially attractive right now. One such token is SHDW, a L2 Solana-based token....
