Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: P < S MA < M MA < L MA = fully bearish
Patterns: Phase 7 hyperwave | Bear Channel | Symmetrical triangle
Horizontals: S: $3,415 | R: $3,477
Trendline: Symm triangle
Parabolic SAR: $3,323
Futures Curve: Backwardation with 2.1% spread. Was under 2% earlier today.
BTCUSDSHORTS: Higher low still valid
Funding Rates: Longs pay shorts 0.0066%
TD’ Sequential: Price flipping
Ichimoku Cloud: That Tenkan-Sen is blowing me away. Pretty much perfect resistance for 15 straight daily candles.
Relative Strength Index: At trend resistance
Average Directional Index:
Price Action: Watching for it to cross 25 to confirm bear trend.
Bollinger Bands: MA at $3,517. Price consolidating below MA while BB’s squeeze is bearish.
Stochastic Oscillator: Daily buy signal. 3D and Weekly posturing.
Summary: Price is retesting a bullish 200 week MA. I am still expected a bounce to $5,200 - $5,800 before breaking down $3,200 support. Yesterday was a green 2 above a green 1 and I was expecting that to continue with a green 3 above a green 2. Instead we retraced and close below yesterday’s low.
While that was happening the spread in the backwardation was narrowing and that had me paying very close attention. Seeing that start to expand again along with the daily candle closing inside the symmetrical triangle made me feel more comfortable about my long exposure.
The market remains in a very crucial spot. Large cap alts - ETH, LTC and XRP - are at major support and could be due to a face melting bounce. If BTC holds support and gets a bounce then I am expected 2X - 3X moves out of the alts.
LTC interests me most right now. It is testing critical resistance of 0.01. A close above would give me targets of 0.02 and 0.028. The 50 & 200 day MA’s are making golden cross while the LTCBTCSHORTS are at trend resistance after creating new ATH.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
Consensio: P < S MA < M MA < L MA = fully bearish
Patterns: Phase 7 hyperwave | Bear Channel | Symmetrical triangle
Horizontals: S: $3,415 | R: $3,477
Trendline: Symm triangle
Parabolic SAR: $3,323
Futures Curve: Backwardation with 2.1% spread. Was under 2% earlier today.
BTCUSDSHORTS: Higher low still valid
Funding Rates: Longs pay shorts 0.0066%
TD’ Sequential: Price flipping
Ichimoku Cloud: That Tenkan-Sen is blowing me away. Pretty much perfect resistance for 15 straight daily candles.
Relative Strength Index: At trend resistance
Average Directional Index:
Price Action: Watching for it to cross 25 to confirm bear trend.
Bollinger Bands: MA at $3,517. Price consolidating below MA while BB’s squeeze is bearish.
Stochastic Oscillator: Daily buy signal. 3D and Weekly posturing.
Summary: Price is retesting a bullish 200 week MA. I am still expected a bounce to $5,200 - $5,800 before breaking down $3,200 support. Yesterday was a green 2 above a green 1 and I was expecting that to continue with a green 3 above a green 2. Instead we retraced and close below yesterday’s low.
While that was happening the spread in the backwardation was narrowing and that had me paying very close attention. Seeing that start to expand again along with the daily candle closing inside the symmetrical triangle made me feel more comfortable about my long exposure.
The market remains in a very crucial spot. Large cap alts - ETH, LTC and XRP - are at major support and could be due to a face melting bounce. If BTC holds support and gets a bounce then I am expected 2X - 3X moves out of the alts.
LTC interests me most right now. It is testing critical resistance of 0.01. A close above would give me targets of 0.02 and 0.028. The 50 & 200 day MA’s are making golden cross while the LTCBTCSHORTS are at trend resistance after creating new ATH.
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