Price has reversed off the high probability support zone that I wrote about on here a week earlier. The complex reversal setup that I described in that article (two days earlier) appeared and confirmed on Tuesday at 28K. I shared the specific trade orders privately Tuesday evening when Bitcoin was pushing 28,400. That swing trade idea produced a 1500 point profit...
Bitcoin price action analysis, key levels, potential scenarios for coming week. Question about stock or alt? Ask in chat.
Bitcoin has rejected the 30K resistance area, as I warned about in my previous article, even though there WAS a buy signal there. Price is now fluctuating within the first relevant support AREA which means I am looking for swing trade setups to go LONG. This location fits my criteria in terms of probability and reward/risk but with NO setups confirmed, there is NO...
Bitcoin price action analysis, key levels, potential scenarios for coming week. Question about stock or alt? Ask in chat.
Since the 30K break out, it would be wise to adjust relevant support levels. The 28K AREA is the new zone of support that I am watching for the possibility of a new SWING trade long (the previous level was 25K). As you can see from the forecast line that I illustrated on my chart (a week ago), Bitcoin appears to agree with the break out scenario that I outlined in...
Bitcoin price action analysis, key levels, potential scenarios for coming week. Question about stock or alt? Ask in chat.
Bitcoin is on the verge of a consolidation break out into the 30Ks, but what is the most effective way to manage the risk presented in this scenario? Price location plays a very important role in shaping trade expectations. Let me explain. You will notice a path that I have illustrated on the chart. Like I explained a few weeks earlier, this is NOT an absolute...
Bitcoin price action analysis, key levels, potential scenarios for coming week. Question about stock or alt? Ask in chat.
28K resistance still in play in the face of a dramatic stock market rally over the previous week. This is a sign of relative weakness and speaks volumes about the balance of order flow. The 25K support AREA (see blue square) is the price location that I am WAITING for in order to put on a new SWING trade long. As a market technician focused on short term...
Bitcoin price action analysis, key levels, potential scenarios for coming week. Question about stock or alt? Ask in chat.
Bitcoin is NOT in an ideal location for potential swing trade longs in terms of risk (even with the current buy signal in progress). The 28 to 30K AREA is a historical resistance that is still relevant. In this article I will explain the scenario that I am anticipating that will prompt me to share a new swing trade long idea with members. First I want to point...
Bitcoin support/resistance levels and how to trade around them going into the upcoming FOMC meeting. Question about a stock or alt? Just ask in the chat..
The next Bitcoin resistance level is 28K and price is almost there. Can it continue like this? There are some very important factors to consider before you get lured by all the "guru" gimmicks out there. In this article I will explore what scenarios can stimulate this further and what can stop it. First and foremost, if you haven't gotten into this long from...
Bitcoin price action analysis, key levels , potential scenarios for the coming week. Question about a stock or alt? Ask in the chat.
After probing the 19K area low, Bitcoin appears to be "bullish" again. That is if you tend to "react" to price information. The 20K break is significant on the broader time horizon AND further confirms the idea that Bitcoin is in the midst of a Wave 2 correction. Two things I will point out in this article: how to evaluate Wave 2 AND how to maintain an EFFECTIVE...
Bitcoin price action analysis, key levels, potential scenarios for the week. Question about a stock or alt? Just ask in the chat.
Bitcoin higher low that was trying to develop a week ago was compromised and has instead established a minor lower high. This puts price into a conflicted situation: if the current 22K low is compromised, a push to 20K is within reason. IF 22K manages to hold, and produce a complex reversal pattern it would imply the short term bullish trend is still intact. As a...
Bitcoin price action analysis, key levels, potential scenarios for the week and how to manage stop loss orders when in a short position. Question about a stock or market? Ask in the chat.