Thursday Night BTC Report. BTC still rising. The DXY moving slightly down and the BTC Dominance also moving slightly up give strength to the move. The DXY is also below all the EMAs except the 200. The ALTs are having a blast right now with several tokens we follow having double digit gains over the past few days. Looks like crypto may be on the move again.
Thursday Morning BTC Report. Price shot up overnight and really from 4am to 8am EST. This makes sense from the H4 Stoch and Pivots. I expect us to close near the new 50% seller's zone at around 62,5k today based on what's going on now on the H4. Also, the DXY is coming down and moving toward the 50EMA. Interestingly enough again, BTC Dominance is still dropping...
Wednesday Night BTC Report. We will probably have a day or maybe two of consolidation. All the buzz lately on Shiba and other meme coins are probably taking a toll as the BTC Dominance is dropping and still below all but the 50EMA. The DXY is dropping slightly so that is maybe where BTC is getting its buying pressure but I don't think that is going to last. I...
Cardano is winking at me. Sitting in that 50% zone and yelling "Hey BABY!!!" This is part of the Chocolate Cake Trading Strategy.
This is part of the Chocolate Cake trading strategy. SOL is entering the 50% zone so look for an entry to take it back up. SOL is a great project.
BTC Wednesday Morning Report. So BTC last night did move down as expected. The Bullish candle to the left prevented price from reaching the 38.2% but we should see it today or maybe later tonight. That is right at the 56k level and also at the 200EMA on the H4 chart. Price also is currently below the 8 and 21 MAs on the Daily. DXY has dropped slightly after...
Tuesday Night BTC Report. So BTC decided to drop it like it's hot today. Nice big move to the downside even closing lower than any of the previous 10 days. Finally activated the current Fib and has Stoch and Pivots support to continue on down to maybe 56k or so. DXY went up some today and BTC Dominance still going down. Rough week for BTC after making an all-time...
So far overnight we still have a smallish bear candle lol (Brother Bear) Price is really doing nothing right now so we will have to see what the morning brings. For the Bears, price is near the seller's 50-618% retracement zone to continue the downtrend. And the new 78.6-88.6% zone is fully established having activated the counter-trend fib.
Monday Evening BTC Report. BTC has slowed but a very small selling candle is forming. Still early in the new day but so far it looks like price may stall or drop slightly overnight. The DXY is moving up slightly but did gap up over the 8EMA, BTC Dominance is dropping slightly and ETH Dominance is increasing slightly. BTC Price is still above all EMAs on the daily...
We currently have a pretty strong buying candle. The wick on the bottom is small indicating that buyers were in control almost from the open. Tonight we will see if BTC can carry this momentum and close above the current range. I don't expect a new high today but it could happen. But at least a close in the 63k-64k range would be a strong signal that we are back...
Sunday night BTC report. Still consolidating at this time but we still have not closed below the 23.6% fib level. We have a buy candle right now and the DXY is below the 8 and 21 EMAS and should drop overnight. At least to bounce off the 50 or even as low as the 200. BTC Dominance is coming slowly back up too. Seems like BTC is loading up steam for a big...
We currently have a selling candle but not a strong one. The wicks below are currently longer indicating buyer strength but the candle is closing lower so far so mixed signals at this point. Hate to sound like a broken record (do many of you even know what that means lol - "What's a record?") but this continues to look like more consolidation around this 23.6%...
Hopefully, BTC will retrace in the current move to give us some more opportunities for great entries before the jump into the 60s. Based on Fibonacci I am looking for a retracement to the 38.2% and hopefully to the 50% zone. The entry in the 50% zone is based more on structure than fibs but it helps that it is inside the 50% zone. May be a wick entry. Let's...
#SOL (#Solana) is coming out of the 78.6% - 88.6% zone so this looks like a good place for an entry. Wait for a new high if you want confirmation but they are releasing #SolanaValley (Basically #Farmville on the Blockchain) tonight so this is probably the time to get in.
Waiting for ETH to retest the 78.6% zone and see if we are back in a bullish momentum or if price will go back down and fill those orders in the wick to the left.
ALGO has decided that the market is a bull market and in a big way. TP1 and TP2 identified since ALGO is on the way up. Has not retraced enough to look for an entry so take it with a short 'stop loss' exit to stable coin position.
Once we get a breakout of the 50% - 61.8% zone, a retest of that zone and then a new higher high, Eth should be back in an uptrend.
UNI has visited the 78.6 - 88.6% zone already and seems to be heading there to clean up. Wait for a good push out of the zone before entry.