Tuesday produced nearly a textbook breakout which not only exceeded late June and early July highs in $SPX, but also successfully exceeded 3-4 month downtrends for $SPX and $DJIA.  Seven of the 11 S&P Select SPDR ETF’s were higher by more than 3%, and volume...

Bullish breakout should drive SPX to 4060

Why Bitcoin likely bottoms out in July

The SPX showed just minor downside follow-through after Tuesday’s reversal but might not immediately weaken down to prior lows ahead of the US July 4th holiday.   As mentioned, prices reversed on cue Tuesday due to a combination of Elliott-wave analysis with Gann analysis which provided price and time targets based...

Cryptocurrency Technical Review

Cryptocurrency rally looks to have temporarily stalled out after a sharp three-week rally.  Ethereum has stalled out in its relative performance vs Bitcoin, and for now, Bitcoin is an outperformer over Ethereum and should be favored. Weekly momentum remains negative and Cycle composites start to turn lower in early March into...

  • Crypto Technical Analysis
Mon November 8, 2021

Bitcoin looks to strengthen relatively speaking after nearly a month of lagging

Bitcoin ($BTC) broke out of its triangle pattern today, Monday 11/8, and could set a new all-time high close above 65,990.31.Relatively speaking, BTCUSD should begin to gain in relative strength based on a minor breakout in its Dominance chart which should help its market capitalization start to pick up speed$LTCUSD,...

  • Crypto Technical Analysis
Wed November 3, 2021

Ethereum recent outperformance vs Bitcoin can persist after breakout above Sept highs

Ethereum remains a near—term outperformer to Bitcoin over last two weeks, and this looks to last a bit longer after its breakout above Sept highsSolana remains quite bullish after its recent surge, but yet stretched ------------------------- Bitcoin Technicals - Yesterday’s breakout to new weekly highs following the minor three-day consolidation...

  • Crypto Technical Analysis
Wed October 20, 2021

Bitcoin breakout can lead to near-term acceleration, while Ethereum following suit

Bitcoin took the lead in pushing back to new all-time highs on a closing basis Tuesday, coinciding with the successful launch of Proshares Bitcoin futures-based ETFInitial upside targets for BTC above 65k lie near 72.50k, then 89k, and thought to be definitely within reach on this breakout of former peaks.Popular...

  • Crypto Technical Analysis
Thu October 14, 2021

Ethereum set to gain in relative strength & should join Bitcoin in exceeding Sept highs

Ethereum looks to be starting to gain on Bitcoin after a near one-month period of underperformance throughout SeptemberBreakout in ETHUSD “Market-cap Dominance trends should help Ethereum to gain ground in relative strength and break out of highs just over 4000 from SeptemberBoth ETHUSD and BTCUSD should gain further strength in...

  • Crypto Technical Analysis
Fri October 1, 2021

Crypto breakout drives massive short-covering, looks important technically

Many Cryptocurrencies look to have made significant technical breakouts starting early Friday morning with BTCUSD, SOLUSD, ETHUSD, LTCUSD, and XRPUSD all jumping 8% +Technically this looks to be a positive given prices having eclipsed weekly highs as well as one-month downtrends. This gives rise to the possibility that BTCUSD might...

  • Crypto Technical Analysis
Thu November 5, 2020

BTC tests 15K – Now what? – Buying pullbacks in an emerging bull cycle

BTC SURGES THROUGH 13.8K RESISTANCE = ANOTHER LONG-TERM BULLISH TECHNICAL DEVELOPMENT IN BTC’S FAVOR.  BTC’s recent surge through the June 2019 resistance highs at 13.8K is yet another bullish check mark confirming a new bull cycle. While a very short-term pause appears likely (see below) we encourage investors to remain...

  • Crypto Technical Analysis
Thu October 22, 2020

What next after BTC’s surge toward next resistance near 13.8K?

For a full copy of this report in PDF format CLICK THIS LINK.After surging through resistance at the August highs near 12.5K  over the past week, BTC is closing in on next major resistance near June 2019 highs at 13.8K. With short-term trading indicators pushing into overbought territory, traders are...

  • Crypto Technical Analysis
Wed June 24, 2020

Crypto sells off with risk assets but is holding above first key support

CRYPTO SELL OFF WITH MOST RISK ASSETS - Cryptocurrencies broadly sold off today along with most risk assets raising the question of whether a bigger correction is developing. _WHILE A DEEPER CORRECTION IS ALWAYS POSSIBLE IT IS PREMATURE TO TECHNICALLY CONCLUDE BTC’S MAY-JUNE TRADING RANGE IS MORPHING INTO A DOWNTREND._...