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The Bitcoin market followed the forecast will a rally from March into mid May where it stalled at 83k (the Q on the 1:1 extension on the SR). That likely sets an intermediate top. Ethereum had a negative break on the 12th May and that is a warning for the cryptocurrency sector. The analysis suggests…
This was last week’s text update for theBTC market: “The very ltf the patterns are bullish telling us that conditions have indeed changed and a move into the mid 80ks can set up after a period of consolidation”. BTC tapped into the 80ks and it has dropped into the ltf pivot into the technical confluence…
” BTC and the crypto currency market have somewhat stabilised in recent weeks as these assets have based into the phase and for the very first time in several months BTC flipped an SR which triggered long positions in coins such as DOGE (which itself based in phase after an 85% washout). On the lower…
BTC and the CryptoMarket are still trading in negative conditions. In the prior updates I suggested the ltf was neutral / slightly positive and a move towards range highs was likely and BTC hit $76,000 and subsequently got hit back down to $65,000. A loss of $63,300 in this phase would be quite a negative…
“On the ltf BTC‘s conditions have somewhat improvedand we would anticipate this given the move into the ltf pivot. The forecast for sometime in this market has been another consolidation period which could test range highs (around $76-$80k) and that is due to the amount of time this market needs to consume in this phase. Because…
TAO (a crypto currency) has been trading in a wide range for 3 years. Whilst making lower highs and lower lows, it has moved quickly in both directions. This video explains why and that is because there is no demand inside value, therefore there is no force strong enough to stop and turn the asset….
A recent Level 2 trade planning analysis for the XOP sector where two bullish trades were taken in the Oil and Gas exploration sector (FANG and OVV). Both charts suggest a major shift had occurred which set up a very low risk and high conviction/ reward long side trade.
“On the ltf BTC‘s conditions have somewhat improvedand we would anticipate this given the move into the ltf pivot. The forecast for sometime in this market has been another consolidation period which could test range highs (around $76-$80k) and that is due to the amount of time this market needs to consume in this phase….
Applying the Principal of Proportionality and Summation to the crypto currency market in order to understand the context.
Bitcoin trades in extreme conditions as again it fails early in phase and flashes a warning that more downside price action is likely. It is reasonable to see this asset trade towards $52,000 – $43,000 into the next ideal phased trough.