stewdamus

stewdamus Updated 

Traders, It is ad nauseam that I have been referring to my multi-year support/resistance trend line. But here we are again. Interestingly enough, it is also currently intersecting the top of my bullish descending wedge, making a critical area of confluence to become resistance. As I see it, there are now two paths for Bitcoin. A break to the top side would...

stewdamus

Traders, I'm seeing this on the Bitcoin chart as well (future post). But here on Ethereum we are in a bullish descending wedge. It should break to the upside soon. However, careful going all in just yet. My spiny senses are telling me we could have one more liquidation of longs incoming before all lights are green. Our .618 fib level seems to be holding well so,...

stewdamus

Traders, As you know, I have restarted my signals subscription. My followers and I have done very well since the restart. But I don't want to forget about all of my TV followers. So, from time to time I do not mind throwing out a freebie. Here's my case for going long Solana here to $300. #1 - As indicated in the weekend video update, there are multiple...

17:03

stewdamus

Traders, Let's review the week's price action on DXY, VIX, Gold, SPY, BTC dominance, USDT dominance, Nvidia, Total3 (altcoins), Solana, and Bitcoin. I'll discuss what the culmination of my indicators is currently showing for the week and weeks ahead.

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And when it does, the bet is on where all that stable will go.

stewdamus

Traders, Previously, you know that I had anticipated that our pullback might last a bit longer through May. However, today the charts are showing me that this might not be the case. Let's start with the SPY. Originally, I had predicted a touch of the bottom of the RED channel. Then, based upon my analysis of the dollar, VIX, precious metals, and mega-corp...

stewdamus

As I see it we now have two more likely options regarding price trajectory for Bitcoin. Let's first review what has occurred in the past few days. After 9 hits on our multi-year support, we finally broke WITH confirmation. That last part was important. I had stated that if we break and confirm, our first target down would become that first purple ascending trend...

stewdamus Updated 

For the 9th time my ever-important multi-year support/resistance trend-line from 2019 has been broken to the down side, but still with no confirmation. Will this time be different? We won't know until tomorrow's candle close on the daily but after all these head fakes I wouldn't be surprised if this is yet another one. 59,300 is key support for Bitcoin rn. Watch...

06:36

stewdamus

Traders, We are right on track with literally everything as discussed in previous chart updates and videos. No surprises this week, thus, the short weekend update video. The only new development is that Bitcoin is testing our ever-important multi-year trendline yet again. Will the bulls win this tug of war or will the bears finally find the strength to pull price...

stewdamus Updated 

As BTC trends up these past few days, it has formed this bearish ascending wedge on the 4 hour. It is something we should be tracking as we get nearer to a break down. Stew

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Traders, As stated in my video on Sunday, all charts/indexes that we have been tracking and utilizing as leads for our crypto price predictions are still right on track. A quick review (left to right) shows: - The dollar has found support and, if my overall thesis is correct, could bounce here and travel up to that 107 target before dropping from our bearish...

12:19

stewdamus

Traders, It looks as if the dollar, vix, and precious metals/commodities will continue to trend up, stocks will continue to pull back. Bitcoin is tenuous. But it is possible that altcoins have reached their low, though that low may be retested soon. We'll discuss these subjects in this weekly update. Stew

stewdamus

Where can we find support for Solana? A quick draw of the Fib Fan shows that if our 100 day sma does not hold, we could drop to anywhere from $107 to $122. This would coincide with both the rising 200 day sma and .618 on the Fib Fan, a great area of confluence which would make great support.

stewdamus

Once again Bitcoin is Re-Testing my Multi-Year TrendLine as support. The last 3 daily candles each have a wick poking down at it. Will it hold? So far it has but with each passing day and retest, the chance grow less and less likely. As long as we remain above it, I am long. A drop below would have me taking risk off and waiting for a better price below somewhere.

stewdamus

VIX has broken to the upside of this descending trend line as the world holds their breath over the Israel/Iran conflict. This is the first time fear has broken above this trend line since September of 2022. Pair this observation with the current dollar strength and you know which way the markets will go, down.

stewdamus

As stated in this weekends video update, I expected us to retest the top of the red channel first, with potential to drop back inside the channel and test the bottom. The middle yellow channel is also a less likely possibility. I don't think we'll get down to the green again until AFTER we hit are WAVE 5 target and also, Inverse Head and Shoulders pattern target...

stewdamus

Bitcoin has hit my multi-year support/resistance TL again where I promised I would be a buyer. And I am. Entry 62k. Target 81k. SL 51k. RRR 1.6.

stewdamus Updated 

Aptos has suffered during the last couple of weeks making the price especially attractive here. Additionally, we are nearing a good area of support both price-wise and on our RSI. An entry here at 11.87 with a target of 18.00 and a SL of 9.87 puts our RRR over 3 to 1. I like these odds.