On the above 2-day chart price action has appreciated a massive 43,000% since August 2019. Can you believe that? Astonishingly 8/10 ideas on tradingview are long positions. The mind boggles.
A number of reasons now exist to be bearish. Very bearish. PS: This is not a reflection on the entire alt-token market, idea on that coming soon! On the above 2-day chart:
1) A ‘incredible sell’ printed back in July followed by two ‘great sells’.
2) Pi cycle top indicator illuminated.
3) Trend reversal. A lower high was printed following a break of market structure.
4) Price action is in a bear market. The 2-day 50-day EMA (actually 100-days of data / blue line) crossed down the 200-day EMA + price action prints below the 200-day EMA.
Yes, a ‘incredible buy’ is currently printing. A test of 5 to 5.3k sats is expected. A short position from here is excellent, but no more longs - this is exit time.
Targets? I don’t know, 350 sats is the most obvious.
Good luck!
WW
A number of reasons now exist to be bearish. Very bearish. PS: This is not a reflection on the entire alt-token market, idea on that coming soon! On the above 2-day chart:
1) A ‘incredible sell’ printed back in July followed by two ‘great sells’.
2) Pi cycle top indicator illuminated.
3) Trend reversal. A lower high was printed following a break of market structure.
4) Price action is in a bear market. The 2-day 50-day EMA (actually 100-days of data / blue line) crossed down the 200-day EMA + price action prints below the 200-day EMA.
Yes, a ‘incredible buy’ is currently printing. A test of 5 to 5.3k sats is expected. A short position from here is excellent, but no more longs - this is exit time.
Targets? I don’t know, 350 sats is the most obvious.
Good luck!
WW
Trade active:
So far so good, lower lows / lower highs.
Trade active:
Price action rejects the 700-week MA. Not good. Will be months before it recovers, look left.
Trade active:
New weekly death cross with *whole* candle body printed below the 21-week EMA. Long way down to support.
Trade active:
Just over a year since this idea was published, so far so good. A 10-day death has now printed. Whether it is a stock a crypto the price of fish cakes in Hong Kong, these crosses = ugly.
10-day chart
10-day chart
Trade active:
A 80% correction in price action is now highly probable... And suddenly. I don't know why.
Comment:
Weekly death cross with bear flag breakout. 80% correction area is shown below.
weekly chart
weekly chart
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
1) No buy signals.
2) Broken market structure.
3) Price action approaching critical resistance. Every time resistance is confirmed a strong sell off followed.
It's looking for ugly on this time frame.
Action? Do nothing until that resistance is broken and confirmed as support.