Bitcoin – Has Reached A Technical Measured Move Price Target – Time To Book Some Profits?

By | December 31, 2020

Bitcoin (BTC/USD) broke out of an inverse head and shoulders pattern in June on the weekly chart this year. The neckline of the pattern at the time was intersecting with the downtrend line of a three year triangle pattern. This multi-year triangle pattern projected an upside measured move price target of around $29,000 or roughly… Read More »

The Amazon Wedge Pattern – A New Tool To Confirm A Breakout Or Breakdown

By | December 31, 2020

Since early September many of the large cap tech names have been moving basically sideways. Amazon (AMZN) shares are a perfect example. They have been headed right on the chart in an increasingly tight series of lower highs and higher lows. The price action formed a symmetrical triangle or wedge pattern on the daily chart.… Read More »

The Dreaded Eveningstar Pattern Has Formed On the Major Market Index Charts

By | November 18, 2020

Back on November 9th a large wick shooting star candle formed on the Dow Jones Industrial Average daily chart and the $&P 500 Index chart. A large dark engulfing candle formed on the NASDAQ Composite daily chart. These candles suggested a broader market pullback was in order. There was a brief decline, but not the… Read More »

The Bitcoin Chart And Adjusted Fibonacci Retracement Levels

By | October 26, 2020

Bitcoin has been making a steady series of higher highs and higher lows since it established its March low. In the process, it has also completed the right side of an inverse head and shoulders pattern. This pattern projects a considerably higher price target. But there is another interesting technical dynamic on the weekly chart… Read More »

The Next Level Of Key Support On The Dow Jones Industrial Average Chart

By | October 26, 2020

Poor start to trading this week. The talking heads are out with a number of fundamental reasons for this morning’s downturn, that they didn’t see coming on Friday. What concerns technical analysts is not so much cause but effect. Simply, how information or misinformation plays out on the charts. The pictographs are where the truth… Read More »