Friends I hope you are all having a WONDERFUL week! I wanted to give a quick update on our Monthly close. The Candle was Bearish, and November ended up being a red month. However, the candle itself was quite similar to prior months candles that closed red. And each one of those monthly candles were proceeded by big up months. I believe this will be the case for...
Friends, I hope you all have had a wonderful weekend, and those in the US a great Thanksgiving. I have been a slow on TV, but wanted to give an alternate count for $BTC. This is a Bullish resolution with an extended cycle. I am still holding to my own target, BUT the attached chart DOES MEET THE EW PARAMETERS. This would mean two things: 1) Stock Market and...
Friends, this is honestly a chart I am archiving for myself. I am posting it here for you to get inside of my head for a bit (scary thing, lol). But I am still awaiting our corrective low to come in. If $55.6K is a double bottom low, then we should begin to see movement north soon. If not, then a lower low is still in the cards. That low would need to stay over...
Eyeing the .382 Fib (drawn from 2nd wave low) to act as support and hold. If we lose that then, $3800 area is rock solid (.5 Fib). I still see $ETH climbing to $5800 as my Target High based off the 4.236 Fib extension from the last cycle high. FWIW, I am more bullish $ETH that $BTC from a purely structural standpoint. It also has a cleaner count than $BTC. Other...
Friends, I have one more "BONUS" chart for this evening before I head off to bed. This is a MONTHLY Chart of the Standard and Poor 500 Index. This is a MONTHLY chart, so it carries weight. The most impressive thing about this chart is the comparison of the last two booms and busts and how small they seem by comparison they are to the bubble we are in today....
Friends I hope you have all had a lovely and relaxing weekend! I am eager to start preparations for the Thanksgiving holidays, but I find it imperative to publish something today on the case for a top already being in with Bitcoin. I know MOST will disagree with this, but its something that I have as a REAL POSSIBILITY. First lets discuss the technical factors....
This is an updated chart from my prior wave analysis. However, I am going to be detailing another chart immediately after publishing this one to make the case for $69K being THE TOP. And don't worry $ALT holders, your top is NOT in.
The wave count is invalid if we LOSE the top of wave one. This is why this Red line of support is so key. I am a BELIEVER WE HOLD HERE!!! If we lost the top of Wave one, Bitcoin is real trouble.
While we did dip below $57K briefly, it is MORE CRITICAL that we DO NOT lose the area immediately under $53K. I am watching alongside you all. Grab some popcorn. :)
$BTC 4-Hour Update (resistance and support levels)
Forget all of the clutter on this chart, I am simply redrawing the key area for Bulls to hold. When we look at the structure and counts, the $57K area remains the spot for bulls to defend. I have also overlaid the oversold areas with vertical blue lines, just as observation points. We are approaching oversold levels on the Daily, but on the Weekly we still is a...
One $Alt coin for the day. Today I am watching to see if $BCH can hold above the top rail of our long standing triangle. I have to admit the back test with this one is text book, so seeing it bounce from here would confirm the Low is in.
Friends, I hope your having a wonderful Tuesday. I have been slammed with work obligations, but I wanted to give an update since I know people would like to know what is going on with our recent correction. As we have been discussing for weeks, $BTC has been moving up into its Fifth wave. That wave is comprised of smaller sub waves. If the current set up holds,...
Friends, I hope your all having a fantastic Friday! I am attaching a chart of what could be transpiring as we see Crypto's slump across the board. The focus has been that $BTC is within the confines of its FINAL 5th Wave up, but that Final wave is constructed of 5 smaller sub waves (or impulses). If this correction continues, the rationale is that $69K was the top...
Friends, please keep an eye out on the $BTC.D chart. As many have bags of $ALT's this chart will remain a "road map" to $Alt's pumping, then topping. Its my personal opinion that $Alts top closer to the end of 2021 with a target between 28-32. It could go lower, but based on a few measurements, this seems like a conservative and logical target to begin to exit...
Friends, I hope your all having a Terrific Thursday! I have been watching the volatility in the crypto markets with you over the last couple of days. These are the Birth pains before we TOP, and begin our decent. I still have us topping at around $73K based on the Full Fib Ext, but we can't rule out a top price going marginally HIGHER, OR LOWER! The bottom line is...
Friends I hop your all having a great start to your week. Just wanted to post that $LTC is NOW in the process of breaking into some new ground here. We have just recently broken our of near term resistance, and still look at a big move shaping up. Oscillators also are confirming this impulse. :)
Friends I hope your all having a wonderful Friday. Just wanted to share with you all what I am watching near term. For now, I can not suggest we are in the "All clear" until we clear $63.8K on a daily close, or $67K on a weekly. IF (and this is a BIG IF), we repeat the ABC corrective structure of our 2nd sub wave low, then we would still need to expect another...