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...
The Bitcoin chart remains perfectly bullish on high time frames, including the weekly. As you can see, Trading Alpha is still showing grey dots and price is trading above a rising green track line. Bitcoin is choppy and boring, but should just require some patience.
A few coins went up Monday and Bitcoin made it to $63,000, causing people to declare "alt season now" and "correction over," because people are spastic and need engagement and/or hope. Charts looks awful across the board. Most coins are still down 90% from last cycle. We have not had a single whiff of a real altseason. Bitcoin has dominated this cycle, outside of...
Yesterday’s candle had a $3000 spread, causing full euphoria in the crypto community. People are looking for ANY evidence that the bull market is resuming in full force. A simple look at the chart made it crystal clear that this price action was a nothing burger. Price is still trading near the range lows, rejected at key resistance etc. Once again, I know...
Bitcoin es muy aburrido. So boring. As you can see, we did have multiple candles test the range lows successfully as support, a decent sign. That said, price is still trading below the track line on Trading Alpha and we don’t have grey dots. I also noticed that RSI has bounced relatively hard back to 50 without much price appreciation to show for it. Chop. I...
Still boring. Yesterday did print a bullish engulfing candle, which is encouraging. We also saw price bounce off of the range low, which is another positive signal. That said, we still are just ranging near the range low and trading below the track line.
I am personally NOT trading altcoins right now and I do not own this coin. That said, it has shown tremendous relative strength for this entire bull market and on this recent drawdown. As you can see, Trading Alpha is showing squeeze shading, a breakout to the upside, a grey arrow showing a buy signal and grey dots. About as clear as it gets. There was also a...