SimpleCryptoLife

SimpleCryptoLife

The dollar is about to go down heavily. Stuff priced in dollars - for example, equities and crypto - will go up correspondingly. Let's look at this weekly chart of the DXY, which is the dollar versus a basket of other currencies, overlaid with the Fed Funds Rate, which is, simplistically, the main interest rate. We see that when rates go up, the dollar goes up....

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Above compressed EMAs on 1H, above 4H EMAs, EMAs compressed on 1D. Buying a Local Low. If we don't get stopped out, how high can it go?

SimpleCryptoLife

Fundamentals This is a leveraged play on Natural Gas. Antero is one of the largest U.S. suppliers of gas to the global export market. NatGas got destroyed in 2022-23, and arguably is forming a long-term bottom. Technicals The weekly chart shows that NYSE:AR bounced from two-year-old support and printed bullish RSI divergence: The daily chart that since the...

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Fundamentals First Majestic is a primary silver producer (which moves more like a junior). It has historically been heavily shorted, making it a good candidate for outperforming in any precious metals bull market. Arguably, we are in the beginning stages of a precious metals bull market, kicked off by the slowing of Fed rate rises in August 2022. First Majestic...

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While sentiment is extremely bearish, on a weekly scale, BTC is still holding bullish structure. Here are the levels to watch.

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Fundamentals: Riot Platforms, Inc is a Bitcoin mining company that survived the recent downturn in Bitcoin price, unlike some of its competitors. That's as much as I need to know. This trade is a leveraged bet on Bitcoin. Bitcoin recently completed a weekly Wyckoff accumulation pattern, which was confirmed by the break and hold above 26k. Technicals: Crypto...

SimpleCryptoLife

Bitcoin looks to have completed an accumulation pattern. It took a parabolic path out of the range, and now we want to see a retest of resistance as support and continuation. I really want to see how crypto handles a bounce in the dollar, which should come soon. If the DXY rises and it doesn't structurally wreck BTC, bull market is back.

SimpleCryptoLife

There are arguably two historical bull markets about to start: altcoins (started, but the real fireworks are yet to come), and silver . There's a lot of fundamental analysis about silver going around at the moment, especially with the #silversqueeze movement kicking off, and I've written some myself. Let's set the fundamentals aside for a minute and think like...

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It's about time for a pullback on gold. But was this it, or is there more? In the recent advances in gold and silver, I've found the 4H or 2H chart to be the most informative. Likely areas for a reversal are these two old support zones in green. The first one is confluence with the 200 (on the 4H chart) EMA/SMA and a healthy 0.618 retrace, at least the way I...

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It's true that bull markets can take you by surprise and be irrational for longer than you expect. But it's also true that parabolas don't last forever. This rise to 11.4k was parabolic. Bitcoin got more overbought on the daily, by my own calculations, than at any time since April 2019. The last time it hit these levels before that was Oct 2017, and only for one...

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Some tokens on Huobi are very spiky. Predicting these spikes is incredibly hard, and something I'm working on long-term. But for now, I found an interesting pattern by eye on the GSC 3-day chart. Oversold conditions (you can't really call it a signal) stop just before the big spikes. In other words, the last 3 times out of 3, buying when the 3-day oversold...

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Gaps always fill. I did go through 6 months of charts once though, and believe me it's true. Every CME Bitcoin futures weekend gap filled within a month. This isn't that chart. It's just a friendly reminder that for a spot position, there's likely to be a better entry than right now coming up soon. Not advice. Past doesn't always resemble future. Or vice-versa.

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XTZ/BTC has been consolidating in this symmetrical triangle since February. If you're fundamentally bullish on this coin, and who isn't, you might be looking for buying opportunities. Bitcoin looks like she's about to go running, which has made alts skittish. But such drops in alts, especially liquid ones, often play into the bigger picture even when they're...

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Litecoin is at the top of a range it's been stuck in for 3 months. The weekly resistance it's pushing against has been tagged 14 times already in the past 2 years. So surely we should be biased short here? Well really we need to wait for a bit more clarity, but it's good to be prepared. Since I didn't buy the bottom of the range, what would make an entry? A...

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For decisive crypto market moves, it's often the case that one large-cap USD pair takes the lead. Looks like it's ETH right now. BTC and LTC USD pairs are lagging. This on its own isn't enough to form a trade idea, but one could start to look for setups using this as a bias. I called EOS/USD already. Maybe we'll look at LTC next.

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While Cardano and ETH have been very bullish in their USDT pairs, EOS has lagged behind, making this long falling wedge. Inside the wedge, we've had a 1-5 correction. Now price is knocking at the upper line. Classically, you'd wait for a breakout and a higher High for confirmation. Since this is a daily pattern, maybe a higher high on the 4H chart. Or a retest...

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I've been watching MXC for a long time. Recently played some of this rapid rise but ended up taking profit too early. Well look who has a second chance. I don't normally use anything lower than a daily chart for coins on Huobi because they can be illiquid and spiky. But zooming in from the daily for some detail I was struck by how much this coin really seems to...

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Recent price action of BTC has been disconcertingly stable. This has allowed alts to run, so I'm not complaining. But the question every trader is trying to answer is: which way next? What happens after all this consolidation - a final shakeout sub 8k before the inevitable rise, or a slow grind up that no-one believes until they're forced to capitulate and...