Bitcoin continues to push towards the range high, around $74,000. As you know by now, once price broke into the upper half of the range, the expectation is a visit to the top. At that point, we will be at resistance and people will be losing their minds with bullishness. The reason charts work is because of humans - they get bullish at resistance and bearish at...
Trading Alpha is looking bullish on Solana. As you can see, we have squeeze shading (orange) with price rising, which indicates a likely volatile move coming, with evidence pointing to it happening to the upside. Price perfectly held the track line as support and the dots are once again turning grey, having never turned blue. Solana continues to be arguably the...
Here is some shocking analysis - Bitcoin is sideways and there is nothing to do for now! Immediate target if you are in a trade is still the area around the all time high - the top of the range.
I still like Fantom here, bouncing well from the support zone. This is merely an update on a setup that I shared last week - it dipped below the entry, but did not come anywhere near the proposed stop. Now it’s back in profit and still looks solid.
It is essential to occasionally zoom out. Taking a look at the weekly chart gives us an astounding picture of Bitcoin’s move. This consolidation looks like almost nothing after this run up from $15,000 - just the expected chop after the halving. As you can see, we are trading in the top half of the blue range, which means we should eventually visit the range...
There is basically nothing to see on Bitcoin at the moment on higher time frames, so we are forced to zoom in and look for clues. We have a clear symmetrical triangle, which could be considering a bull pennant. Regardless, the next move will likely be defined by whether price breaks up or down from this triangle. Still… this is all chop on larger time frames.
Bitcoin continues to chop sideways in the upper half of the range, as expected. We also got the retest of $67,000 as support that I was looking for. For now, ETH and altcoins are likely to steal the show as BTC consolidates.
The trade on this is a bit later, as Trading Alpha gave the signal days ago. You can see that we had a breakout and retest of descending blue resistance as support, yellow squeeze shading, two green arrows to signal an entry, a break above the track line and sustained grey dots. To me, this says that any dip is for buying, and that price should target the next...
Ain’t nothing change, just trading in a range. The good news? We are trading in the top half of the range now. All eyes are on ETH and altcoins today.
Interesting spot for Ethereum Vs. Bitcoin on such a big day. Right at long term descending resistance. By the way, there was bullish divergence coming from oversold RSI at the bottom, as often happens.
Bitcoin looks solid, trading in the top half of the range. Do not be surprised if we retest the range EQ as support, the dashed middle line around $67,000. That would be relatively normal now that we are in the top half. Once again, this last move is exciting, but we are still in a range until we make new highs. For now, the safest approach is playing in the top...
Trading Alpha is giving bullish signals across the board on many altcoins and FTM is one of my favorites. We have grey dots after a grey tear drop and grey arrow and a squeeze shade. Very, very clear. Now we are trading above support with the trackline turning green and curling up. My target is $1.22, the highs. If it comes, a dip to test support around .80...
What a difference a day makes. I have been consistently bullish on ETH, believing it would eventually have an explosive move and steal the show. How about a 20% day? As you can see, ETH broke out of the massive bullish descending channel and huge volume. Trading Alpha once again gave the perfect signal, with the grey arrow, squeeze shading and break above the...
What a move. Bitcoin skyrocketed yesterday, finally breaking through the key resistance at the EQ (equilibrium, dashed centerline) of the trading range. The more times a horizontal resistance is tested, the more likely it is to break as supply is removed from the area. We had 3 daily candles attack that area before the break above, which happened in spectacular...
Trading Alpha is showing a strong renewed daily bullish trend, with 6 candles in a row showing grey dots after the trigger arrow near the lows and the yellow squeeze shading. As expected, price continues to struggle at the trading range EQ (equilibrium, center dashed line). This is the key resistance at the moment. Bulls want to see this broken and to see price...
My concern at the moment is that we had confirmed bearish divergence with overbought RSI on the 4-hour chart. Like bull divs with oversold RSI are usually local bottoms, this usually signals a local top. We got a drop yesterday - that could be it, but I would proceed with caution. This was a classic short signal. This could indicate that we will stay in the bottom...
Bitcoin remains in a local bullish trend, trading just below the center of the trading range. A break above the $67,000 area should send price eventually towards the range highs, around $73,000. This is far from guaranteed - we first want to see price trading in the top half of the range. Still chop…
Trading Alpha has turned bullish on the daily chart, and gave the signal early in the candle that things were about to get spicy. As you can see, there was a yellow squeeze shade and then a grey arrow, showing the volatility would be to the upside. What we ended up with was a move through the track line and a huge candle spread. Nice. That said, this is STILL...