WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Fall Cabin

Fall Cabin

ECONOMIC EVENTS

 UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...

* Fri. Oct. 7 @ 8:30 am ET - Employment Data
* Wed. Oct. 12 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Oct. 19 @ 2:00 pm ET - Beige Book Report
* Wed. Nov. 2 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Dec. 14 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Thursday, March 03, 2022

BITCOIN Mired In Chaos Zone

Following the formation of a bearish moving average Death Cross on Bitcoin in early January, it plunged briefly below a major support level of 35,000, as shown on the following daily chart (I wrote about the crossover on January 23, here).

It then bounced back above the 50 MA, retested 45,000, then plunged again to retest 35,000, before retesting 45,000, once again.

It's, basically, stuck in between the 50 and 200 MAs, or what I call a trendless "Chaos Zone"...roughly in between 40,000 and 49,000.

Until it breaks and holds above or below this zone, with force, look for more whippy, volatile, random and trendless spikes and plunges to occur in this cryptocurrency...one to avoid if you're risk-averse on the daily timeframe!