norok

norok Wizard Updated 

Since September 2023 Bitcoin has been in a rally predicated on the Bitcoin ETF launch. The chart has setup in accordance with my technical rules to finally short (bet against) the price action. I am also going to use this post to expand upon my broader bearish outlook on Bitcoin at present and into the future. I was definitively Bullish on Bitcoin in Q1 if...

norok Wizard Updated 

A viewer on my Livestream Friday brought to my attention that Pfizer NYSE:PFE is coming off a major low (COVID Low) and has done a pullback to the 50% of the Impulse Move off said low. This is why I love doing Livestreams and having a trading community... idea crowdsourcing! I like these setups especially as the S&P 500 and many stocks within it are making new...

norok Wizard

INDEX:ETHUSD has sold off from the recent high down to a critical support at 2406. This support is the 50% Retracement of the Year to Date bullish thrust and also matches with the Ichimoku Kijun Sen. The Support level is also held up by the prior highs of the December 2023 consolidation range. When analyzing this chart to make an opinion if the Support may...

106:28

norok Wizard

I'm currently SHORT Bitcoin... but an honest assessment of price is that the trend is still bullish. How can I have cognitive dissonance? I'll explain...

64:37

norok Wizard

Bitcoin was supposed to go UP on the ETF launch news... but it did the opposite! Why this was just another "sell the news" event.

norok Wizard

Today at 4:11 PM EST (UTC-5) the @SECGov Twitter account posted confirmation that Bitcoin ETFs had been approved. Bitcoin price spiked immediately on this news but the following price action is most interesting. The hacker that made the Tweet, presuming the news would create a large, sustained bullish move, likely LOST MONEY on his illicit trade. Tradingview...

72:56

norok Wizard

First stream of 2024! Let's talk about some possible themes and opportunities this year!

norok Wizard

This morning I received a volatility alert on $NASDAQ:WBA. The stock had earnings today and the resulting price action was bearish down to a significant potential support level. The Trade The Weekly the Ichimoku 9-period (red line) shows that short term 50% level as it goes flat providing a Weekly entry point. The risk is that price makes another major low. ...

norok Wizard

One of my primary technical analysis trading tools is that of False Breakouts or as I identify them; Spikes . I have found that when prices moves quickly in one direction only to return in the opposite direction within the same or following candle this indicates a potential reversal with a high probability. The corollary to this concept is that if price does...

61:30

norok Wizard

Last Stream of 2023! Time to retire the old bull and look for the new!

123:55

norok Wizard

The Bears have been talking "Market Crash" all year but here we are at potentially new All Time Highs? Why were they so wrong???

76:36

norok Wizard

Is crypto trading back again with a new alt-season?

norok Wizard

A derivative indicator I have used for many years to analyze Bitcoin is the BITFINEX:BTCUSDLONGS symbol on Tradingview which displays the number of Bitcoins held in Leveraged Long positions on the Bitfinex platform. This is an indicator of the aggregate long positions held on margin on the platform. It can be used to see what speculative position holders are...

94:42

norok Wizard

What does the field of On-Chain Analysis say about the price (present and future) of Bitcoin right now?

105:21

norok Wizard

Should we be buying Bitcoin or bonds right now?

80:55

norok Wizard

Bitcoin is ripping and everything looks good for Michael Saylor's Strategy at Microstrategy (MSTR)... but is it actually a stock worthy of investment now with the ETF launching and the company's massive debt? This plus the Weekly Close Market Analysis of

norok Wizard

If one wants to hedge against the current ETF inspired rally in Bitcoin without selling their Bitcoin a good candidate to 'short' would be MSTR (Microstrategy). The stock is "hard to borrow" meaning it is difficult to short the shares but the options chain is relatively liquid enough to accomplish the bearish thesis. Technically, both Bitcoin and MSTR are...

90:08

norok Wizard

Stock market has a huge bounce this week. I bought a lot of TSLA earlier because it hit my level. Let's catch up and see where the next opportunity may be!