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Sive-Morten

Morning guys, So, our idea with the upside bounce has worked perfect. Now price stands at strong resistance of 60K area. Until it stands below this level we suggest that bearish context remains. To start thinking about changing of the sentiment and consider long positions we need to see BTC somewhere around 64K and breaking through 60K strong resistance level....

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Morning folks, So, BTC has dropped slightly more, as we've suggested but daily oversold hasn't let it to touch strong weekly 50-52K area that we've mentioned. Despite that overall context remains bearish, we prefer to wait for some rally to sell into. BTC now near weekly K-support, just has completed daily OP downside target and at daily oversold. It would...

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Morning guys, So, our bearish entry with DiNapoli B&B "Sell" last time has worked perfect. And, as we've suspected, this trade has not stopped at just minimal target but has become the starting point of new big swing down. Obviously H&S on daily chart is failing, and it means that we will get drop under 55K. Next strong support stands around 50-52K area -...

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Morning everybody, So, upside AB-CD bounce is done accurately. Now, as we said - those who would like to sell and try to make a bet on daily H&S failure has got nice setup. It calls as DiNapoli B&B "Sell" pattern. Upside AB-CD target is completed accurately at K-resistance area. Also you could recognize here minor upside butterfly, that also is done. Minimum...

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Morning guys, In recent updates we've said a lot about overall situation and big picture with daily reverse H&S that is ready to fail, and probably will fail. Today we could focus on particular trading setup that is based on recent market drop. This is DiNapoli B&B "Sell" trade, a.k.a "Momentum" trade. The background is simple - strong downside momentum on...

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Morning guys, Today BTC hits 62.50$ - our downside XOP target on daily chart (see previous update), and 62.50-64.2K area was mentioned as the one where potential right arm of big reverse H&S pattern should be formed. Nominally, this pattern is still valid, but today I show you performance on 1H chart that clearly shows problems for bulls. Normally, when market...

Sive-Morten Updated 

Morning folks, Recent Fed meeting results have made impact on short-term BTC performance as well. Although our major bullish context based on daily reverse H&S pattern remains valid, BTC could try to move slightly lower. So, the right shoulder on daily chart will be more harmonic to the left one. In general, until BTC stands above 61K - H&S pattern will remain...

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Morning folks, Mostly this idea is a continuation of the previous one, but there I've put too many updates already. So let's make the new one... BTC also was hurt a bit by NFP numbers on Friday but not as strong as EUR or Gold market. We suggest that it keeps bullish context valid. Besides, we've got bullish grabber on Friday as well. Our nearest upside target...

Sive-Morten Updated 

Morning folks, So, as we've said, if BTC breaks 69K it should go higher. That we see now. Nearest upside target is based on the same pattern - reverse H&S that we're trading for a couple of weeks already. It stands at 74.75K But at the same time, I would like to show you this one - reverse H&S on top. If we see that BTC starts falling fast, it could be not the...

Sive-Morten Updated 

Morning folks, So, our H&S starts perfect. Tactically we've missed a bit, expecting upside turn around 59.5K area, but data releases and putting down of ETH ETH perspectives have supported earlier upside reversal. Also Hong Kong is very active with opening domestic ETF's that boost BTC demand among Chinese population. Now our H&S pattern has two target. Nearest...

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Morning folks, So, everything is going with the plan by far. Market has reached ~60K area where potential right arm of our 4H reverse H&S pattern should stay. But here is a minor tricky thing. Overall performance doesn't look bullish by far. On 1H chart it even looks bearish. We have downside acceleration and uncompleted XOP target that makes an Agreement with...

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Morning everybody, So, the first step of our trading plan is done - market is around 61K, which is intraday strong support area. It is preferable if upside action starts from here, although downside continuation to next support and XOP target will not become a tragedy yet, but will be looking worse with lower chances on success. Now we need to watch for small...

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Morning folks, So, everything goes with the plan, although the upside bounce that we've discussed is stronger than we thought. It means that bearish long-term patterns are still valid, say on monthly chart, we do not consider short entry right now. Vice versa, there are a few bullish patterns might be formed intraday. First is reverse H&S with 67K neckline,...

Sive-Morten Updated 

Morning guys, So it seems we've correctly reversed our position down from 62K area. Today we increase the scale a bit and take a look at daily chart. Indeed BTC has broken triangle down as we've suggested. But it is more important that it also has broken K-support level and only oversold stops the downside continuation. This makes us to consider next downside...

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Today guys, update is very short. This is the only picture that we need for now, although we cold find more bearish signs on higher time frames as well. Despite that BTC has tried to show couple of pullbacks up from our 62-62.5K area - reverse H&S has not been formed. Other words, market was not able to confirm bullish reversal and other bullish patterns that we...

Sive-Morten Updated 

Morning folks, As we've promised on Thu last week, the close of the week will be most important thing that could change everything. That has happened. AS BTC has closed 5K higher - we haven't got any bearish engulfing on monthly chart for now. But what is more important - we have bullish grabber on weekly, suggesting that price should challenge ATH again. Not...

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Morning folks, Although BTC situation is changing and not to the good (we've talked about last time), market now stands at strong support area. 59-60K is strong daily support and oversold level. While here, BTC has done "222" target, suggesting that at least 30% pullback, somewhere to 64-65K area is possible. But, in longer term, drop under 60K will push price...

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Morning folks, So, unfortunately for BTC - it is traded 24/7, so while other markets were closed, BTC has taken all the mess from geopolitics. With recent collapse, it is logical to ask - where all those people who were taking about "safe haven", "gold replacement" etc... Now due geopolitical turmoil in weekend, our short-term bullish context has been...