Morning folks, It was a good rally last week, the H&S pattern that we've discussed has not even been formed, but the major test still stands ahead. The point is 44.70-46.50K is a strong weekly resistance area. Upward action looks nice but mostly it is due to the weakness in the USD but not of strength in BTC itself. We suggest that it is too early to forget...
Morning folks, This week is relatively quiet as geopolitical tensions calm down temporarily while everything that could be said about Fed hawkish policy already was said... But it doesn't mean that situation is changing. We treat current action as temporal relief and still do not see any signs of reversal and think that it is early to invest in BTC. Just watch...
Greetings everybody, In recent two sessions market has got relief as geopolitical tensions calm down a bit and dust around Fed hawkish policy has settled. Still, we suggest that this is temporal relief, as in geopolitics as around Fed policy. Technically it takes shape of wobbling choppy and heavy upside action that difficult to call as reversal stage. As we've...
Morning folks, As we've suggested last time, daily Oversold could push price a bit higher to test intraday Fib levels, but it is not enough to overcome fundamental reasons of weakness. Thus, yesterday's Fed statement has pushed BTC back down again. To keep it clear - we need action above 42K area to get only the first signs of changing. Intaday "lower-lows, lower...
Morning folks, So, it seems that our suggestion on rising of the bearish dynamic pressure on Thursday last week was correct... Right now a lot of things to discuss in relation to BTC, so if you have a time, it would be better if you watch our daily video on FPA site. Anyway, shortly speaking, we do not see any bullish signs right now and suggest that reaching of...
Morning guys, Well, market shows anemic action, upside butterfly on 1H chart from our last report has been cancelled. Today we have "222" Buy on 1H chart, but it doesn't matter, actually. The one thing that we would like to show is the daily picture, and the price action that we do not like and that might become the first sign of downside breakout. It calls...
Morning folks, So, the last analysis seems to be completed nicely. Now the big question is where we go next. The problem is we do not have this week any important speeches or statistics, so interest rates performance could be wobbling, as well as BTC market. In fact, current performance shows nothing bullish and we still do not see any reasons to buy BTC....
Morning folks, We do not want to upset you, but our opinion that recent upside action is not the major reversal yet. Mostly it is not achievement of BTC market but the weakness of the US Dollar due recent CPI report. BTC shows much weaker reaction compares to the FX market, which makes it similar to the Gold and Interest rates market. As dollar stands oversold...
Morning folks, It is a difficult choice today - what chart to show in the update because higher time frames are more important. Anyway, in two words - we think that downside continuation has more chances to happen this week. Taking in consideration how BTC has reacted on Fed minutes publication and that weaker NFP numbers were not able to support it, we suggest...
Morning folks, Now you understand our doubt on taking any long position on BTC by far. Despite our H&S setup has tried to show upward action with some bounce and was with relatively low risk, BTC once again shows its dependence on interest rate performance. The recent fed minutes release just has crushed it once again. We really hope that BTC will be able to...
Morning folks, Hopefully, you've got a good time and Holidays with your family and had some rest... We have a lot of things to tell today, but all of them stand on higher time frames, which is out of the scope of daily analysis. Our previous setup has worked perfectly and confirmed our doubts about BTC strength. Today we could confirm the same, as we see a lot...
Morning folks, So, we've got the drop that counted on last time and BTC once again at 5/8 support. But is it ready to be bought now? I have big doubts on it. BTC now stands in tight performance with the US interest rates. Once they have jumped to 1.56% area - BTC has dropped. Right now, interest rates suggest minor retracement, as "222" Sell pattern has been...
Morning folks, So, H&S performance was rather nice, despite that market was thin. Now is the major question - whether we're ready for new rally, or its not the time yet. My personal view is the latter. Despite that jump was nice, but if we take a look at 4H chart we see that - market stands at strong K-resistance area, and overall action on CD leg is a bit...
Morning everybody, So, last time we said that market shows no bullish performance that could be sufficient to consider the long entry. Finally, we've got something. Maybe this is the result of thin market, but anyway, this is at least something that have bullish sentiment. On 1H chart first is - price has formed upside bullish reversal swing. This action makes...
Morning folks, As BTC shows really weak performance, we suggest it would be better to wait with any long positions by far. One of the reasons is recent reaction on major AB=CD target on 1H chart. The reaction was only minor AB-CD (blue) retracement and not even attempt to form, say, reverse H&S pattern. It makes us think that XOP target is the next one - 42.40K...
Morning everybody, So, BTC is so stunned by recent collapse that it can't show anything interesting by far. The only things that we could discuss is intraday performance. Thus, our '222" Buy on 4H chart has started well, but it already has completed the minimum target. Recent reaction on Fed statement makes us think that this is more the profit booking by...
Morning folks, Currently BTC follows to our basic scenario that we've announced after collapse has happened. Market should fluctuate in a range as it has happened after May sell-off. There are few reasons for that as fundamental as technical. Technically - market has solid bearish momentum that should be faded first. Recent performance makes us think that BTC...
Morning folks, This time we do not discuss any clear trading setups, as we do not have any of them yet. But what we see interesting right now is comparison of May collapse and the recent one. First is, we expect some similarity on how market should react and behave on it. Last time it was flat consolidation before BTC has shown real thrusting action and breaks...