norok

norok Wizard

Let's take an honest look at Bitcoin in terms of price and fundamentals. Every day I see a new article about "ETF inflows" or "Historical parabolic coming" but yet price stubbornly refuses to break bullish. Often I read the comments on these articles and users ask pertinent questions such as, "if everything in the media is so bullish then why is price...

norok Wizard

Been short INDEX:BTCUSD since April with AMEX:BITI (Proshares Bitcoin Short ETF). The media writes "reasons" that Bitcoin is down each day but real reason Bitcoin is down any day is the failure to confirm new ATH in April. I do somewhat lament my bearish bias because I missed a good long off 50% level in this liquidation but I'll go into why I remain bearish...

norok Wizard

I have been traveling and enjoying the summer months, which typically are slow for trading, and have not traded this pullback but have gotten many questions for analysis as to "when will this stop ". #notfinancialadvice but I like the upcoming levels on AMEX:SPY in the 520 area. There are several levels of support creating confluence here: What I always...

norok Wizard

I have been pointing out on my social media and Livestreams that Monero has been outperforming Bitcoin since April 2024. This inversion in the KRAKEN:XMRBTC cross pair is interesting in itself considering most cryptocurrencies remain in high correlation to Bitcoin INDEX:BTCUSD but there is more that can be inferred by this relationship. First, we will look...

norok Wizard

Many Bitcoin traders believe that this was an isolated liquidation dip caused by "reasons" such as MtGox and Germany. This price movement is part of a broader picture (below) and while many hoped to see 60k recaptured this weekend it does not seem that will be the case. Futures markets will open in a few hours and last for the last two weeks the Sunday-Monday...

norok Wizard Updated 

Of all cryptocurrencies I see Monero KRAKEN:XMRUSD differently as a good "store of value" which is private. That makes me a little looser with my trading guidelines for other assets. Monero has also proven difficult to trade in recent years... it has had some volatile swings but overall has broadly kept its value. The recent cryptocurrency downtrend, led by...

norok Wizard

Bitcoin social media has shifted the narrative from YOLO 6-figure SOON(tm) to the June bear move being over to now accepting that this is a "healthy pullback." The bullish trend, which began in October 2023, officially ended June 24th with the confirmed cross of the Ichimoku cloud. See my videos and posts from last week for education. Bitcoin now sits today,...

norok Wizard

This article will lay out the key levels that should come into play in the price action of INDEX:BTCUSD starting today on July 1st and may carry on through the month. This analysis will rely on Ichimoku, 50% Retracements, and Volume Profile. The primary driver of my analysis on Bitcoin price action is the Daily Ichimoku trend. I published a video last week...

norok Wizard Updated 

Also on my morning Spike scanner came up NYSE:XYL (see below for the spike on the 30m timeframe). I especially like this Support level as it has many matching components: 50% Retracement Level. My bread and butter. The most important Retracement Level. Volume Profile node. Not the POC but a key level of price and volume here. Ichimoku Cloud. A long...

03:25

norok Wizard

NASDAQ:WBA is a techable moment and I had to make a video today. I checked my watchlist of current and recent trades exited and saw that Walgreens was down -25% overnight! Horrible earnings is the "reason" but really the stock has been in an unabated downtrend for months. I tried to take a long off the 2009 low back in January but my rules had me GET OUT in...

08:26

norok Wizard

We've heard the addage; "time in the market beats timing the market." That may be true of stocks and people that want to be lazy but results dramatically improve with this one simple signal based in Ichimoku. That signal JUST HAPPENED! The results over 13 years of Bitcoin's price history are clear even when the last 4 years are isolated. Do the backtest...

norok Wizard

Off the top of the 10AM scans this morning is a spike on NASDAQ:AAL with a good ATR Clearance of the bottom of the range. Why I like this spike, at this position, is based on the Daily low from back in October where this spike also represents a rejection of the Volume Profile level from that low: Good chance for a bottom pick!

norok Wizard

According to Ichimoku Rules, which have proven to be a highly accurate method of determining the state of the trend of Bitcoin, the bullish trend which began in October 2023 has conclusively ended . When both Price and Momentum (the Chikou) cross over to the same side of the cloud then the trend is either confirmed Bullish or Bearish. The prior bullish trend...

03:41

norok Wizard

The Ethereum ETF news came and went this week. It has set up a DOUBLE Spike. As a trader you can often see where traders probably have their stops set. Breaking one of these could trigger a cascade of stops in that direction. This video lays out what to look for in this unique price action situation where INDEX:ETHUSD currently sits!

10:15

norok Wizard

There is an old, seemingly wise saying, that says "time in the market beats timing the market!" This works for people that do not want to do the work... to study repeatable patterns. Throughout the bull market of 2024 (yes, the market is in a bull market) I have been waiting for and been asked by followers "is THIS the pullback to go long?" Generally, the...

norok Wizard

If I was oblivious to what NASDAQ:DJT was and someone asked me to look at it on stream I would say it was messy but a buy. Price has recaptured the Volume Profile Point of Control, tested it as Support twice, and is rising. I consider the stock an election year fun ticket more than an investment. One could play it as a proxy for poll numbers from now until November.

norok Wizard

Bitcoin HELD the Last Support noted in my Idea last week. That save INDEX:BTCUSD from going bearish. However, it is not out of the woods yet. Today Bitcoin spiked the 50% Retracement Resistance at 64652. This sets up a short trade where if the high of the spike is broken "you know you're wrong" for a low risk/high reward trade. If the Spike high is...

07:35

norok Wizard

As a follow-up to my Idea from May 1st where I pointed out the key Volume Profile Support of 56.9k that has held and now we go into the weekend at the Volume Profile Resistance of 62k. Which of these breaks... Support or Resistance... will be the way Bitcoin goes! Does the bull trend fail or continue? Ichimoku will be the decider.