But Not Which Direction It Will Be To say that volatility is a traders best friend is like saying wild horses make good plow-horses. Sure, a wild horse can get a lot of work done but, if you’re not careful, you can find yourself in a big mess. What I mean to say is this, […]
It’s Not Always About Bitcoin The cryptocurrency market is beginning to heat up. Beginning with Bitcoin, the market is moving up from confirmed support and looks ready to tackle the next resistance level. Moving out to the broader market, there are other coins on the move and not just because BTC is getting stronger. The […]
Bitcoin; Still Bullish, Let’s Try Again … but Don’t Forget About Ethereum The Bitcoin has been trying to wake up and get really bullish for months now but it just keeps hitting resistance. The most recent action has the coin trading and consolidating between $9,000 and $10,000 and, at this time, another run up to […]
The Dollar Is Range Bound The Dollar Index has been ranging for the last two months and it looks like that range will continue, at least in the near-term. Last week’s FOMC minutes, the economic data, and lingering COVID-19 epidemic are weighing heavily on the greenback as it is on every world currency. The tug-of-war […]
The Halving: Not Half As Exciting As It Could Have Been Well, the halving came and went without much fanfare. In the two weeks+ since the event BTC/USD has moved up, down and sideways to trend within a narrowing range. While the action seems listless, the stochastic outlook is still quite bullish. The market seems […]
Oil Rises To One-Month High Oil prices have been on the rise in recent trading sessions and it looks like a bottom may be in. The price for the June contract, which expires in one day, shot up more than 9% in early Monday trading as processors and refiners bet on increasing demand and slackening […]
Are Gold And The Dollar Moving In Tandem? Because it sure looks that way to me. What is usually an inverse trade has now set up to move in the same direction. Gold, a dollar denominated asset and one long-used as a hedge against inflation, typically moves counter to the dollar. When the dollar gets […]
The Breakout Failed, What Next? Last week Bitcoin was on the cusp of breaking out to new highs. The move looked strong, the coin was making nice candles, and the indicators were supportive so what happened? Resistance at the round number of $10,000 held the coin in check and sent price action back down to […]
Here It Comes, How High Will It Go Pundits, talking heads, industry insiders, traders and market-watchers like me have been anticipating a major rally in Bitcoin for over a year. The reasons are numerous but today center around one event, the next halving. The next halving of the Bitcoin mining reward occurs this weekend late […]
Support Is Confirmed, Trading Ranges Are Present The Dollar Index has been in a trading range for the last month. A few weeks ago it looked like that range could be broken but it wasn’t, the DXY reversed course and fell back to a stronger support level. Now, with price action bouncing from the $98.50 […]