bishopknight

bishopknight Updated 

Litecoin faces major resistance at $110. With a break of $110 we can expect to see a recovery back to previous highs. Once Bitcoin breaks $100k the altcoin rally may likely begin. Traditionally I would be looking at the main 3 plus a innovative cryptocurrency. Last cycle it was Bitcoin, Litecoin, and Ethereum with Solana as my plus one. This cycle I am taking...

bishopknight Updated 

I entered into a long on NASDAQ:PDD at $97.50 and am moving my stop loss up to $97.5 from $95. Either PDD breaks $100 and we reach downtrend resistance around $106-$108, or it gets rejected here and goes down further. I'm positioning myself in case this happens, potentially losing current profit but leaving the trade open for an additional 7-9%.

bishopknight Updated 

Be patient, enjoy the holidays. Looking for a double bottom on lows or 88k to liquidate longs before squeezing up next week.

bishopknight Updated 

US10Y breaking support. Good entry on bond etf's. Only picking up a small amount to get in the door. ZROZ, EDV, and TLT.

bishopknight

No need to overthink this one. Pretty clear trend line on a linear chart. Why linear? Cause we aren't looking at multiples in price change, logarithmic wouldn't be best used here, and I have seen many charts showing false trend lines with a log chart. Logarithmic scales are useful when the data you are displaying is much less or much more than the rest of the...

bishopknight Updated 

The claim that Litecoin is inefficient because bitcoin has the lightning network and lower fees is no longer valid. Prioritizing Litecoin over both Ethereum and Bitcoin is no longer absurd in my opinion. Let me explain Transactions, transaction fees, and transaction times are all areas now dominated by Litecoin. With Solana losing a great deal of the community's...

bishopknight Updated 

Energy companies are quite predictable, and $SO is one of the best Energy providers in the United States. Highest employee favourability and a top choice by many investors for consistent growth. One of the best things about $SO is that it has consistent swings of 10-20% and you can catch these swings over 4-6 Month periods. Buying here between $62-$64 and will...

bishopknight Updated 

If we held above $400 it would signal a larger move up. Likelihood of that happening is quite low in my opinion. With a big week of low expected earnings, possible negative news coming from Powell, and many companies looking lacklustre with weak guidance, I expect that we can see a strong rejection of the $400 level. Closed one put already from $399 to $396 and...

bishopknight Updated 

This is a continued post from The Desperate Push to 26k, the avoidance of the weekly death cross. Please review previous post before reading and boost/share for visibility. Simplifying the outlook, these are the only two things I am currently looking at. The Daily and Weekly, golden cross vs death cross. I'll take the shorter timeframe in this bout, so a golden...

bishopknight Updated 

Bitcoin has broken the trend line on every time frame up to the Weekly. Need to stay north 22k through Monday to close the weekly above trend and buy time. Next task on the list is to avoid the weekly death cross. Hence the desperate push to 26k. There is a load of support at this level with both the 50 and 200 ma present. We've tested support on the trend line...

bishopknight Updated 

This situation is quite silly. The media is blowing it out of proportion and believes OpenAi is the second coming of Jesus. Google has 91% market share of Search, and Bing has about 2% share. Microsoft, part owner of OpenAi, plans to grow their search efforts and compete with Google search. The threat is that Bing may take a couple percent. In reality, people...

bishopknight Updated 

Simple bet I'm making here, some technical analysis involved by also a gut call based on fundamentals, above 50ma on hourly and approaching 200ma, approaching 50ma on 4hr, reversal on the daily, possible retest of previous resistance before going down further or a continuation up. Either way I think we could see this upside first. I don't have a crystal ball, or...

bishopknight Updated 

Sometimes we way over complicate our trading. Back in 2020 you may remember my breakout chart from 10k and since then I have really loosened up my trading. Bitcoin is succeeding and will continue to succeed. All I am trying to do now is limit my downside and gain more bitcoin . Same with Solana. If you look at my breakout chart for Solana. I bought at $150 but...

bishopknight Updated 

Like many, the thought of selling solana this past month has not once crossed my mind. Solana has revolutionized this space and is growing a speeds I have not seen before. As someone who has stopped using ethereum altogether because of the simplicity and ease of Solana, I have become a loyal supporter to this project. I am very bullish and it's hard to tell where...

bishopknight Updated 

Easy scalp here. Loaded up on some shares at $38, target is $44. Not too late to get in.

bishopknight Updated 

Following the channel and trend. Added long at 50k. Since my avg buy in is much lower, it's worth the risk of getting rejected because of the ceiling. New ATH's are back in play.

bishopknight Updated 

This is a play I actually entered into about a week ago pre-earnings. Price jumped after having their first profitable quarter and their financials look great. Prices pulled back as expected because the market is f'd up like that and these past few days have presented a second-round buying opportunity. It went from overpriced at $120 with a fair value of $80-$90...

bishopknight Updated 

Pretty simple trade setup here, expecting us to return to the middle of this channel quicker than previously, in as little as 20 days, as long at 50 days. Price target $100-$110. Take profit at $100: 25% gain Take profit at $110: 37.5% gain