Crypto-Swing

Crypto-Swing Updated 

I've mentioned elsewhere the prospects for Theta and how it seems to be leading the recovery in the major alts, at least the ones I'm watching, so I thought I should share here. As seen in the daily chart above, Theta has formed a very nice right shoulder to a potential Inverse Head & Shoulders pattern. The neckline is at $6.75, which is within spitting distance...

Crypto-Swing Updated 

Looking at the similarities between Cardano in November 2020 (left) and Cardano today (right), and I notice a number of structural elements looking very similar: 1D 200MA tested twice Convergence of the Moving Averages (20MA, 50MA, 200MA) Similar relationships to the Fibonacci pitch fan lines Rising RSI Bullish MACD Could we be looking at a fractal...

Crypto-Swing Updated 

After 9 straight days* of positive price action, the longest continuous stretch of green days since the low of $3,195 in December 2018!, one can conclude that the Composite Man is in a hurry, so we need to re-calibrate the Wyckoff Chart to the new conditions. Looking at the current position, BTC has rallied strongly to the critical level of $40.8k level, with...

Crypto-Swing Updated 

Just observing the Head & Shoulders formation that has completed in XRP which projects a rally to over $0.72. If it can confirm a close above $0.73, then there will be a lot of confidence that the lows are behind. However, the article in Zerohedge today about Tether (USDT) being of questionable integrity puts a large cloud over the apparent euphoria in the...

Crypto-Swing Updated 

With 5 straight days of positive price action, I have noted elsewhere that this is the longest rune of green bars since the all time high of $65k. Actually, it is the longest run of green bars since March 12, 2021. Taken in context with the reversal signals I listed in my previous post, I get the feeling that the post-correction consolidation period is ending and...

Crypto-Swing

In the 4 hour chart, above, we can see a clear Bull flag breaking bullish to complete a Head & Shoulders pattern that projects a rally to $36.6k. The 4hr 20MA crossing above the 4hr 50MA, and a break above resistance in the RSI. In the daily chart, below, we can see a bullish engulfing bar signaling a turn around, a rally above the 20MA and a breakout of the...

Crypto-Swing

With BTC breaking down below $32.7k, it appear to me that we have just completed a wave 4 corrective triangle, within the final wave 5 of a larger 3-3-5 correction. All that is left is the final capitulation to complete the last element of this corrective structure. Read in the context of the Wyckoff Method, this gives the technical structure for what I show...

Crypto-Swing Updated 

Or is it the Triangle to breath life back into the BTC market? A symmetrical triangle has formed and is looking like a continuation pattern to the downside. A final capitulation perhaps, providing irresistible value for investors? Or a collapse into a spiral of death? 😀 Let me know.

Crypto-Swing

An interesting confluence of factors has manifest again in the 1HR chart that occurred back around May 26. That is the following: A Bullish cross of the 20MA above the 50MA; followed by A bullish cross of the 50MA above the 200MA; followed by An inside bar on a lower high. In May, this portended an initial drop of 17.5% ($7k). If a similar drop occurred...

Crypto-Swing Updated 

An update to the Wyckoff Chart, adjusting the pattern for the past few days of price action that has seen Bitcoin break to new lows, recover and then fall to retest the low zone. This looks like a text book structure for Phase C of the Wyckoff Method, and if continuing to hold to this pattern, we should see Bitcoin begin its rally to new highs starting from...

Crypto-Swing

In response to a query about past evidence of the Wyckoff Accumulation in Bitcoin, I publish this study of the price correction through the end of 2019 and early 2020. As can be seen, there is a strong case that this was also a Wyckoff Accumulation, with all the major features being represented. What do you think, is this evidence of manipulation of the Bitcoin...

Crypto-Swing Updated 

Here I present a study of the current BTC halving cycle, overlayed with the previous two halving cycles. I admit the idea for the overlay is not original, and comes from a prior work I saw from @TradingShot a few months back. However, let me explain what you are seeing. It is the current weekly Bitcoin candlestick chart, with a copy of the first halving cycle...

Crypto-Swing Updated 

A quick update on where Bitcoin is in relation to the Wyckoff method now that it has tested the "creek" (resistance) at $40k and is seeking its low point to turn, "spring" forward, and ultimately jump across it.

Crypto-Swing Updated 

Where are we in the Wyckoff Accumulation Phase? I believe we have moved into Phase C and are running down to the “Spring”. But that is really just a guess, but considering the lackluster follow through on the El Salvador news, I feel another downside event is required to inspire strong buying to break the downward momentum and exit the trading range. In support...

Crypto-Swing Updated 

With the resumption of the correction in the last few days, I thought it was a great time to provide an update to the previous analysis of the Wyckoff Cycle and to focus in on what appears to be Phase B of the Accumulation period. In this daily chart in the standard scale, you can see that I have adjusted the way-points of the accumulation template to fit with...

Crypto-Swing

Here is a study with a Fibonacci pitchfork channel, a 3-3-5 Elliott Wave correction showing price is within the last impulse wave down, and some Fibonacci projections showing two potential levels for a bottom. What do you think is possible here?

Crypto-Swing

With Bitcoin breaking to the downside out of its symmetrical triangle formation, the support provided by that structure is removed changes other macro forces of influence should be considered. In these two charts, I show the very bearish pennant formation in the weekly chart on the left, along with its broadening and bearish MACD, and on the right the daily...

Crypto-Swing

Well the sideways consolidation has continued longer than any would have anticipated. Long enough to deflate all but the most ardent bulls, perhaps. Certainly casual investors who have bought in since March would be demoralised by this activity. If only they new that this was precisely the effect intended by the money powers to support their accumulation. At least...