December 29, 2021

Market Update 12/28 – Crypto Short Setup

Not much to write about today but crypto did get slammed. The most interesting short setup is SOLUSD. Again, the massive wedge broke in mid-December. A head and shoulders top may be forming since September as well. 186.30 or so is proposed resistance (see below). Immediate downside focus is the proposed neckline near 155.
December 14, 2021

Market Update 12/13 – Watch AUDUSD and NZDUSD Down Here

AUDUSD has pulled back following a slight push above .7170. My view is that the decline is corrective. The 61.8% retrace is in line with the 11/30 low at .7060s. That sticks out to me as the ideal spot for support.
December 6, 2021

Market Update 12/5 – Crypto Ideas after a Wild Weekend

That 11/10 reversal nailed the high. From high to low, BTCUSD dropped 39%. The low over the weekend was at the center line from the channel that originates at the 2015 low. 53000 has been a key level since September and I’m watching for resistance at that level. With the low at the center line however, watch for support at 45000-46000. An aggressive bearish target on a break of the center line is 23000. The longer term picture is below.
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