Traders, As mentioned in my recent videos and posts, meme-coins (of all categories of coin) are looking positive here, especially those on the Solana blockchain. We’ve talked about Wif. We’ve talked about Boden (up 31% today). We’ve referenced TRUMP. All of these are on the Solana blockchain. All are doing well. Another one I have referenced, stating it is in a...
Traders, So, two days after recommending, NOT coin had one last liquidation event before popping up and out of this bullish descending wedge nicely. It then proceeded to rally 85% from its wick low to its current price as of this post and a full 35% from where I recommended entry! As I’ve stated previously, altcoins are few and far between right now for long...
Traders, I promised to do some analysis on alts. Altcoins are looking pretty bearish right now but some unexpected coins are looking especially interesting. It may surprise you which categories of alts could pump soon. Stew
Traders, This recent drop in Bitcoin price has caught many traders (including myself) off-guard. Unfortunately, we cannot always get it right and when we do get it wrong, it is important that we drop any preconceived ideas we hold and honestly re-evaluate potential price action. So, that's what we are doing in today's video. We are only going to look at Bitcoin,...
Good Morning Traders, It's important to review price action on Solana because it is our fourth largest altcoin (excluding stables) and does lead much of our altcoin market now in this position. The inverse head and shoulders pattern is playing out thus far. Solana touched my $122 support precisely before bouncing and rounding the bottom of our right shoulder....
Today the story on Bitcoin is quite simple from a technical perspective. We have a battle of trendlines occurring. On our price chart Bitcoin is back down to that purple ascending support. Technically, this is great news as we needed a retest here before further upmovement (if that is the current trajectory). However, there is some trouble on the RSI as we bang...
Traders, Since February, Bitcoin has basically been in a sideways accumulation price phase. I have a hunch we are very close to an end of this. But how much longer will traders be forced to be patient? And when this phase does end, will we move up or will we move down? Let's revisit the charts to see if you can find more clues.
Well traders, guess where Bitcoin is at? Once again, it is flirting with our multi-year support/resistance trendline from 2019. It seems that it just can't pull itself away. Like a magnet, Bitcoin continues to be attracted to this level. Now, if my projection of the inverse head and shoulders pattern is correct, then we should pull up and away soon. However, this...
Traders, Market makers continue to torture crypto longs but their time is growing short. The U.S. stock market continues to press higher, led by mega-corp giants like NVidia. It is simply a matter of time before crypto follows. In the meantime though, I am tired of playing this game with MMs. For the first time since creating my public portfolio, I've decided to...
Traders, When I initially spotted what I thought could turn into an inverse head and shoulders on Bitcoin, we were at the neckline. I drew in pink what I proposed could turn into this inverse h&s with supports all the way down to 64.5k to remain valid. I am happy to see that the right shoulder appears to be forming faster than anticipated and our accumulation...
Traders, Though the alts are waiting on Ethereum for confirmation of further price direction, Storj looks like it's found its support and local low here. It's been in this accumulation phase/channel since April and both the RSI and AO are suggesting is is time to run. Also, after breaking the upside of that huge bullish triangle, we have already gotten the retest...
Let’s wrap up by taking a look at our Total3 chart which includes all alts except ETH. This shows a strong bullish bias. We’ve broken to the upside of our triangle, retested the top of our triangle as support, and are now using that strong PoC from our VRVP as support along with our 50 & 100 day SMA. I love to see all of this as it signals good things to come from...
ETH ETFs will give Ethereum and therefore altcoins a nice bump/pump and I believe that, as long as ETH can hold this current support level at around 3700, then Ethereum and altcoins have found their local low. In other words, altcoin season is close. Supporting this theory is this inverse H&S pattern which I spotted well before the right shoulder had even formed....
With the dollar trending down and the VIX at low levels, we can then continue to expect the U.S. stock market to continue to rise. And, in fact, that is what we are witnessing as we close in on the blow-off top target of the Elliot Wave theory that has resonated with my instincts for these last 2 and a half years. We are currently in wave 5 and on our way to the...
The VIX remains rangebound and in very good territory all things considering geopolitically and globally. No one can predict the future with 100% certainty but as long as there isn’t any earth-shattering news, fear will probably remain low, given the exception of U.S. election shenanigans coming up. Be aware here that my prediction is that at the last second (and...
The dollar is right on its projected path as expected. Inflation has prevented the Fed from lowering rates at least once. Can we expect a rate drop before the end of the year? My guess is that even with a bit of inflation showing the Fed will drop rates at least once. There are several reasons for my conclusion here not least of which are weakening economic...
Traders, I have a pretty good record for calling these inverse head and shoulders patterns before they are fully formed. I am not saying for sure Ethereum will form this inverse head and shoulders pattern but if it doesn't, then it will need to break above those resistance levels I have drawn and confirm. If it can't do this on the daily, then I have a hunch...
Traders, It is ad nauseam that I have been referring to my multi-year support/resistance trend line. But here we are again. Interestingly enough, it is also currently intersecting the top of my bullish descending wedge, making a critical area of confluence to become resistance. As I see it, there are now two paths for Bitcoin. A break to the top side would...
