MarcPMarkets

MarcPMarkets Wizard

Bitcoin price structure still favors bearish momentum which means resistance levels are more likely to be respected while support levels are more likely to break (see my previous articles about the bearish environment). If you are looking for swing trades, then WAITING for a resistance level to be reached, followed by some form of confirmation would be the more...

94:21

MarcPMarkets Wizard

Bitcoin support/resistance levels, scenarios and preparation for the coming week. Have a question about a stock or alt coin? Just ask in the chat. Be prepared, be objective. Hype free!

MarcPMarkets Wizard

Bitcoin has taken out 35K effortlessly which was a strong possibility that I have been pointing out for WEEKS (read my previous analysis). With this major support cleared, the 30K level is the next area to anticipate significant support. In this analysis I am going to highlight other relevant levels that may be in play this week. Either way, price structure has...

85:24

MarcPMarkets Wizard

Bitcoin support/resistance levels, potential scenarios for the coming week. Have a question about a stock or market? Just ask in the chat! Hype free!

MarcPMarkets Wizard

Bitcoin is trying to establish yet another double bottom like formation, but there is no reason to get excited. Momentum across the board is bearish which means any buy signals are likely to be limited and/or lack follow through. Focus more on the levels ahead that offer some possibilities, NOT try to guess where Bitcoin is going next. In case you haven't...

79:55

MarcPMarkets Wizard

Bitcoin price action analysis and potential scenarios for the coming week. Have a question about a stock or alt coin? Just ask in the chat. Hype free.

MarcPMarkets Wizard

The 42K to 45K resistance area (lower high) continues to hold (blue rectangle) which implies a lower low is likely to follow. This situation continues to reinforce the possibility of testing the 35K support AND since the environment is no longer favorable, a break of that major support. For the swing trade strategy that I employ, this means: it is more reasonable...

76:35

MarcPMarkets Wizard

Bitcoin support/resistance levels and REALISTIC scenarios to prepare for in the coming week. If you have a question about a stock or alt coin, please ask in the chat. I make every effort to provide an objective view of the market based on price.

MarcPMarkets Wizard

Since the recent peak at 48K, Bitcoin has established a bearish impulse wave that clearly shows 4 waves in place. This points to a greater chance that price will complete the impulse (5 waves) which can lead to a test of the 35K area over the next week or two. Add to that the context of the overall market environment, and this bearish scenario is still favored...

79:51

MarcPMarkets Wizard

Bitcoin support/resistance levels, REALISTIC scenarios to prepare for. Have a question about a stock or alt coin? Just ask in the chat.

MarcPMarkets Wizard

With the 45K resistance area still intact, the recent price structure (32K low to 48K high) can be considered a broader LOWER HIGH consolidation. Add to that the risks associated with the current economic environment and you have a recipe for a break of the 35 to 32K support area in the coming weeks. I am not saying a break is a sure thing, all I am saying is the...

79:26

MarcPMarkets Wizard

Bitcoin support/resistance, reasonable scenarios and potential setups to look for. Have a question about a stock or alt coin? Just ask in the chat!

MarcPMarkets Wizard

The Bitcoin break out above the 45K resistance is far from impressive and while the retrace back into the previous resistance (new support) may offer some potential opportunities, it is very important to not lose sight of the macro fundamental picture. For those who do not understand how interest rates work and the role of the Federal Reserve, you do not...

MarcPMarkets Wizard

42K to 45K resistance means probability favors selling activity, even though there is NO visual sign of it. For me this CLEARLY means NO NEW LONGS, or exit existing longs like swing trades or day trades. Based on the price structure, this is a location to look for swing trade setups on the short side which is not a choice for me since I do not short Bitcoin....

97:30

MarcPMarkets Wizard

Bitcoin support/resistance and potential scenarios for the coming week. Hype free. Then your questions about other markets or charts will be answered. Please ask one question per person.

MarcPMarkets Wizard

Bitcoin continues to consolidate between the 42 to 45K resistance and 35K support. This consolidation within the broader context is still a LOWER HIGH. Lower highs often lead to lower lows. The other key factor to consider at the moment is the correlation and vulnerability of the S&P. After the recent FOMC press conference, the market "appears" to be in rally...

MarcPMarkets Wizard

Bitcoin is gyrating around the mid point of the 35K to 45K range. Mid points of consolidations are the MOST random areas which means price action, price patterns, candle sticks, etc. carry very little weight. The more effective thing to do in these situations is WAIT for a specific level or price location before assuming any risk. Reacting to price movements,...

MarcPMarkets Wizard

Bitcoin could not break the 45K resistance over the previous week. This establishes a lower high consolidation and increases the chances of a lower low to come. The recent price spike was nothing more than a REACTION to geopolitical drama. The fact that the bullish move was given back just as quickly implies that there is NOTHING supporting this market, especially...