some thoughts
if you enjoy charting and trading, feel free to msg me, always enjoy others views.
if you enjoy charting and trading, feel free to msg me, always enjoy others views.
Comment:
popped 76/77xx now we wait to see how this conitnues.
technically we consolidated in the range for a while (77/6850) and now broke out to the upside.
some fundamentals include the bitmex OI. i mentioned as soon as i spotted, this was an anomoly breakout, so yesterday when we tagged 8k and pulled back, in past moved OI went positive as ppl were long hoping for higher, turns out everyone was bearish hoping/betting on pullback. Quickly we re took the high. Its not a fakeout, but lets see.
If you check the chart untested areas were 8 and 8.3k, we had small pull backs at each. (white lines)
I want to see how price reacts to 8.6 and 9.4.
Im heavy in xmr and zec currently, most other alts i have are very very small positions.
As I mentioned previously, if I see OI is high and high -ve bias, i would expect after some consolidation we pop up from this zone and hit 10.5/11.5. Both but mostly 11.5 would be a mid term sell target and Id wait on what occurs there, dist/accm etc.
Good luck.
technically we consolidated in the range for a while (77/6850) and now broke out to the upside.
some fundamentals include the bitmex OI. i mentioned as soon as i spotted, this was an anomoly breakout, so yesterday when we tagged 8k and pulled back, in past moved OI went positive as ppl were long hoping for higher, turns out everyone was bearish hoping/betting on pullback. Quickly we re took the high. Its not a fakeout, but lets see.
If you check the chart untested areas were 8 and 8.3k, we had small pull backs at each. (white lines)
I want to see how price reacts to 8.6 and 9.4.
Im heavy in xmr and zec currently, most other alts i have are very very small positions.
As I mentioned previously, if I see OI is high and high -ve bias, i would expect after some consolidation we pop up from this zone and hit 10.5/11.5. Both but mostly 11.5 would be a mid term sell target and Id wait on what occurs there, dist/accm etc.
Good luck.
Comment:
8k didnt matter on the chart, it went right through and minor resistance when it went back under.
8.3xx and 8.6 was a resistance point, and after we breached it now it acts as support.
currently price is 8650 and lots of longs build up on mex.
maybe we have to go to 8.3xx to stop out many of them, or simply just move down a bit. technically we are in a near desc triangle and a rounded top (or ivn cup and handle type setup, just testing same support with lower highs etc) small TF. Fundamentally some news came out of us making a digital dollar (or something/not following it too much).
other things, high caps pumped, now rep and dcr (old mid caps). maybe well see some low caps pop off.
8.3xx and 8.6 was a resistance point, and after we breached it now it acts as support.
currently price is 8650 and lots of longs build up on mex.
maybe we have to go to 8.3xx to stop out many of them, or simply just move down a bit. technically we are in a near desc triangle and a rounded top (or ivn cup and handle type setup, just testing same support with lower highs etc) small TF. Fundamentally some news came out of us making a digital dollar (or something/not following it too much).
other things, high caps pumped, now rep and dcr (old mid caps). maybe well see some low caps pop off.
went to almost ~7500, severely punishing high leverage recent shorts.
was this a bottom for a move up to 8/8.4 ? dunno.