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BITSTAMP:BTCUSD May Push Higher to 25,780 to 26,350 Near Term Before Consolidating or Resuming the Downtrend 1. BTCUSD may reach 25,700 to 26,350 before reversing to resume the downtrend, or consolidating the gains as part of a reversal process. Whether or not BTCUSD has reversed long-term is unclear, but the long-term downtrend is unlikely to have ended. ...

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ETHUSD Continues to Consolidate at a Critical 1.618 Fibonacci Level Much depends on this 1.618 Fibonacci level at 1644. Will price break higher or turn lower and resume the downtrend? There is no need to predict. Price will give us the answer very soon. A July 16 post by this author recognized both bearish and bullish counterarguments for the price action. ...

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BTC May Have Stalled Right at Symmetry Resistance BTCUSD may have stalled today at symmetry resistance today. The symmetry resistance is measured using a Fibonacci-style projection (called an extension on the TV tool settings). The levels derive from projections of prior counter-trend rallies since the YTD low on June 18, 2022. The first symmetry resistance...

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The major US indices are stalling today at major resistance levels. The Russell 2000 (IWM; see also RTY CME Futures) has reversed right at a Fibonacci cluster (shown by the blue circle) that coincides with a 7 month downtrend line that has remained valid since November 8, 2021. RSI is confirming a likely reversal. RSI has reversed right where RSI peaked at the...

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ETH has gained 41% in this recent 3-day bounce off the lows July 13, 2022. The pattern appears to be an EW zigzag , which has characteristics of a corrective pattern running counter-trend. Disciplined traders who caught the pattern and the lows on July 13 and sold the top at $1400 made a hefty and well-deserved profit. Please note that post is not a trade idea...

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AMEX:IWM CME_MINI:RTY1! TVC:RUT RUSSELL:RUT Hypothetical Trade Summary : Shorting AMEX:IWM (Russell 2000) here at 173.10. Price target at 156.10. Stop = 178.10. Capital risk = $3,000 (3% of a $100K trading account). Maximum profit = $10,200. Reward to Risk: 3.4 / 1 Rather than a legitimate rally based on an intermediate-term trend reversal, today's...

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BITSTAMP:BTCUSD BINANCE:BTCUSDT COINBASE:BTCUSD AMEX:BITO CME:BTC1! BTC has been squeezing within a parallel bear-flag channel since mid-June 2022. This choppy, corrective action has directional traders likely frustrated for the past several weeks. But a breakout looms. Volatility compression leads to vol expansion. The Bollinger Bands (BBs) are one of...

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Hypothetical Trade Summary : Shorting NDX / QQQ here at 286. Price target at 260. Stop = 291.00. Capital risk = $3,000 (3% of a $100K trading account). Maximum profit = $15,600. Reward to Risk: 5.2 / 1 Within the last several weeks, I've published several ideas supporting a bearish view for NASDAQ:NDX and NASDAQ:QQQ as well as the major cryptocurrencies...

04:16

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This video provides a brief update of recent price action in NASDAQ:NDX / NASDAQ:QQQ / CME_MINI:NQ1! . The key level to watch tomorrow and next week on QQQ will be 288-290. The video explains why. There is a confluence of resistance levels at this point, including Fibonacci, 21-day EMA, and downtrend line resistance. The .618 retracement of the June 27-30...

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Within the last several weeks, I've published several ideas supporting a bearish view for BITSTAMP:BTCUSD COINBASE:BTCUSD FTX:BTCUSD . (See also AMEX:BITO for an ETF tracking BTC futures.) Those ideas will be linked below. In my latest view, BTC is trading within a quiet parallel channel in a countertrend fashion, which is called a "bear flag" in technical...

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Summary : Elliott Wave and Fibonacci analysis point to further downside in the next few weeks / months in NASDAQ:AMD . (The current countertrend rally could continue for a few more days first.) A reasonable target for the downside is 60.86 to 63.82 . Afterwards, price action should be evaluated at the 60-63 level for any evidence of a trading low for...

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Today, a leading technical analyst noted that growth was breaking out vs. value. This analyst flipped bullish a few days ago from bearish, after the US indices rose well off the 5/20/22 lows. Having pulled up my relative charts—the above chart is a ratio chart of RPG vs RPV—downtrend lines have been broken to the upside. Note the blue and the red downtrend lines...

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BITSTAMP:BTCUSD Enthusiastic Bottom-Picking Has Failed since November 10, 2021 COINBASE:BTCUSD has been stablizing since its sharp plunge lower in the first half of June 2022. After many experts and traders alike once again called a bottom in BTC in May 2022, BTC plunged yet again to new 52-week lows. The 1H June 2022 decline was approximately -45%....

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Would you be buying BTC if its chart looked like this since November 2021? This is a weekly chart of Bitcoin ( BITSTAMP:BTCUSD COINBASE:BTCUSD CME:BTC1! ). The chart has been inverted . This is why it looks so bullish . Buying BTC right now is like shorting it based on this bullish-looking chart (ignoring the numbers in the side bar, which are inverted as...

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BITSTAMP:BTCUSD COINBASE:BTCUSD New Low June 18, 2022 After plunging to a new low for the year on June 18, 2022, BTC rallied hard, climbing about 24.25% from those lows. BTC began rolling over again at 21,868, unable to reclaim its 22,000 price level, which is currently where the 21-day EMA lies. Corrective Bounce off June 18, 2022 Low Despite being...

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NASDAQ:NDX and NASDAQ:QQQ have rallied right up to critical resistance. The blue downtrend line has been an area where price failed at resistance multiple times since March 2022. Today, price rallied right up to this downtrend line resistance and turned lower. But the pullback has been shallow into the end of day. Tomorrow, price could rally again for one...

14:11

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BITSTAMP:BTCUSD COINBASE:BTCUSD This video covers the same material as the linked post below with the same title. Video format may be preferable for some over written textual format.

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ETH could be nearing a bottom. The selling has been brutal. ETH has sliced through its 200 SMA on higher time frames, i.e., the weekly chart. In the coming days or weeks, if COINBASE:ETHUSD hits 875 approximately where the orange circle appears on the chart, the second leg of the decline will be proportional and 100% of the first leg of the decline in...