Category: Crypto News

On Monday, the selloff in Ethereum reversed at a level that marked Wave A (in red) equaling Wave C (a common relationship in an ABC correction) suggesting that the corrective phase since the September 3rd high might have run its course (see daily chart above). On Wednesday morning the rally followed through but yesterday the

Both the longer term (gold P1-P3) and shorter term (violet P1-P3)  Schiff Pitchfork have defined the vector of the 240-Min price/time price grid with the shorter term Schiff Pitchfork Upper Parallel and the upper flat of the Cloud capping the advance this AM (yellow circle) marking a slowing of upside price momentum reflected in both

The British Pound is a victim of USD strength today on the heels of higher US Treasury yields and is one of the worst performers on a relative basis. The GBP has violated support afforded by the Standard Pitchfork (gold P1-P3) Lower Parallel (yellow circle).The GBP is in danger of violating support afforded by the

SUMMARY The weight of the multi-time frame technical evidence suggests that Bitcoin is still in an ongoing correction. Short term support is at 40,750. Bitcoin / Weekly The weekly chart of Bitcoin shown above continues to suggest that the corrective phase since the all-time highs is still in force despite the strong bounce from the

Bitcoin / Weekly The week is not over but thus far the price action of the Weekly candle chart suggests that the correction from the April highs may have run its course. The break out above the falling Upper Parallel (solid gold line) of the longer term Schiff Pitchfork (gold P1-P3) after holding Cloud support

A three wave decline has unfolded since reaching a new all-time high a week ago last Wednesday at 66,958. That constructive pullback found support at the Median Line (gold dotted line) of the newly drawn Schiff Pitchfork (gold P1-P3) falling just short of tagging the 38.2 retracement level of the October rally. The Fast Stochastic

(1/2) #RTY #IWM Nothing less than a bona fide break out of the eight month sideways trading pattern in the IWM as the 50-day moving average peels away from the 200 day without violation with a turn in advance decline line (center panel) and MACD of the A/D line is charging higher. Also note that

Trust the Cloud Model! Yesterday afternoon both of our short term support levels, the Median Line of the Schiff Modified Pitchfork (gold dotted line) and the Kijun Span (green line) were violated. This led to a quick test of key Cloud support and support at the Lower Parallel of the Schiff Modified Pitchfork (gold P1-P3).

Keep Your Powder Dry. Aside from four intra-240 Min violations the series of doji (candles) are valiantly holding TDST support at 60,500 but price has not be able to retake the ground above the Median line of the newly drawn Standard Pitchfork (gold P1-P3). The current oversold condition could lead to a short term bounce

It now appears likely that TDST Support at 3,900 and the top of the Cloud will be tested before this correction has run its course. Only a move back above the Median Line (gold dotted line) of the Standard Pitchfork (gold P1-P3) would negate this thesis.