NOT FINANCIAL ADVICE
See linked charts for previous success, I called the rally in October of 2020 and the top in 2021, then most recently I called a short-term SHORT trade and had some people try to heckle me, figured I would point those people to those trades below and save them the time and embarrassment.
This could easily and likely will drift sideways, if someone wanted to try the longer-term short target, they would be smart to look for an oversold signal on the daily chart and then look for an entry on the lower timeframes and near the top of the range at the time (could be several weeks away).
The other thing to consider is this could be a higher low, in which case the previously proposed short entry (if waited for like suggested) near oversold on daily would allow for a safe and tight stop at a close swing high.
AS ALWAYS NOT FINANCIAL ADVICE, do your own research and understand all risks of any trade YOU take with YOUR account.
See linked charts for previous success, I called the rally in October of 2020 and the top in 2021, then most recently I called a short-term SHORT trade and had some people try to heckle me, figured I would point those people to those trades below and save them the time and embarrassment.
This could easily and likely will drift sideways, if someone wanted to try the longer-term short target, they would be smart to look for an oversold signal on the daily chart and then look for an entry on the lower timeframes and near the top of the range at the time (could be several weeks away).
The other thing to consider is this could be a higher low, in which case the previously proposed short entry (if waited for like suggested) near oversold on daily would allow for a safe and tight stop at a close swing high.
AS ALWAYS NOT FINANCIAL ADVICE, do your own research and understand all risks of any trade YOU take with YOUR account.
Comment:
32928.70 to sub 29750.00... And then
Comment:
Just realised I said oversold both times in the original description when I clearly meant overbought.
The trade is approaching a nice break of the recent low, and with some momentum, waiting to see what happens on the 4 hour chart between now and next Monday afternoon.
The trade is approaching a nice break of the recent low, and with some momentum, waiting to see what happens on the 4 hour chart between now and next Monday afternoon.
Comment:
Although the low wasn't successfully broken, the chart is only now setting up for entry, according to my original idea.
NOT A PROFESSIONAL
NOT A PROFESSIONAL
Comment:
Looking strong but, possible bearish divergence spotted on the daily, as the rsi is nearing overbought.
Comment:
the previously spotted possible divergence was overcome by the strength of the market, as posted.
ROUND 2
reaching a little bit with the depicted divergence as it crosses several "highs" but the daily rsi is starting to look good for a short no matter how you look at it. This alone would not be a good reason to take a trade, as anything can happen, but with the recent news of binance derivatives markets being closed, things are looking a little spooky in the cryptosphere!!! Likely move opposite of the S&P to start the week.
NOT FINANCIAL ADVICE!!!!!!
ROUND 2
NOT FINANCIAL ADVICE!!!!!!
Comment:
Almost to spite the last profitable drop from above 41k, to below 38k, it's back over 43k. While good trade management would trail a short position into profit, this idea is starting to look questionable, the open of the futures market(5pm cst) should have some impact on crypto, or maybe the other way around. Next look for the New York open tomorrow (8:30am cst), another time where crypto is likely to move.
NOT FINANCIAL ADVICE
NOT FINANCIAL ADVICE
Trade closed manually:
Ok, when Amazon and Apple both start leaking info on accepting BTC for payment, we can start expecting moves to the upside.
