Autonode

Autonode Updated 

Just a simple look into logical support levels for BTC. Following a parabolic rise, BTC has forced us to use some older macro levels to determine support. First, we'll start with the weekly: Currently, BTC has found some nice macro support just above the first red weekly level at around 11.8k. Holding this level will be bullish in the short term, and likely have...

Autonode

Lots of action. Let's dive in. I think the most important tf to look at right now is the daily, but let's start with the weekly for some context. Wyckoff: Last time I posted, we were in a valid Phase D JAC. Now we find ourselves on the edge on JAC invalidation. The close of the weekly will tell us more, but in general, for a valid JAC, we should not have...

Autonode

Things have been choppy on the lower TFs. Let's take a step back and look at the weekly for more clarity. Wyckoff: We are still in a valid Phase D JAC. From a weekly prospective, we can pause here and continue to rally, and so far, there has been no indication that we are doing anything other than that. I'm of the opinion that we are in a downward sloping macro...

Autonode Updated 

Phase B would be my choice at the current moment. The CO probably needs another good opportunity to accumulate supply before mark up. Repeated Tests of Supply above the Buying Climax level have proved that there is still some, although less now. I'm expecting a test of the lower trading range boundary and will be watching supply levels down there.

Autonode

No doubt, BTC has seen some bullish action. A strong rally has propelled us past the 6.8k resistance and into the mid 7k range on our way to complete the inverse H&S target at around $7,750. In my opinion, it's a matter of time until the bulls get exhausted and we see a pullback that is likely to be healthy. We may get an upthrust into the the target and a...

Autonode

CSCO looks to be distributing here and we may have already entered the markdown phase. The VPVR indicates some liquidity overhead, so I wouldn't be surprised for another test into that area before more distribution. I'm looking to short at that mid $43 level. The four hour chart is also in its own micro TR that has yet to show a bias as far as I'm concerned,...

Autonode Updated 

We just saw a weaker rally as expected per my previous post. A few bullish characteristics to note: We found support on the daily 10 EMA: and we found support on the bottom of the macro trading range: These conditions provided the opportunity for another push upward which I believe has already taken place. What's next for this daily chart? If we are...

Autonode Updated 

We're already bumping up against some resistance as shown on the VPVR, but supply hasn't shown up in a big way yet. A quick Effort vs. Result analysis has got me thinking the next push will be slightly weaker than the last two and may be a good point to take a short position, but for now we wait for it to play out. I think the ceiling on this move is ~7k before...

Autonode

The Weekly chart is great at filtering out noise. I refer back to it for a clearer picture of what's going on without having to see ugly wicks from bart patterns and the like. It's obvious that we are in a down trend. It's important to note that we broke the February lows, but did not close below as the market rallied to close above 6k. The first thing that...