I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to learn more about how I use the indicators below and Click here to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business.
My most recent Bitcoin Bubble Comparison led to the following predictions: 1 day - 14 days = < $5,750 | bottom prediction: $2,860 by 10/30
Previous analysis / position: “I no longer think that this selloff could be a fakeout. The reason being is how much time we have spent below $6,400 support.” / Short BTC:USD $6,330 | Stop loss was moved to slightly above breakeven on ETH:USD based on the 4h wicks, was triggered last night.
Patterns: Descending triangle | Phase 2 hyperwave live
Horizontal support and resistance: $6,250
BTCUSDSHORTS: Massive triangle starting to form. If daily candle closes above 39,750 then the target is 60,959.
Funding Rates: Shorts pay longs 0.0263%
12 & 26 EMA’s (calculate % difference): 12: -2.30% | 26: -3.38%
50 & 128 MA’s: 50: -4.93% | 128: -6.36%
Volume: Volume spike provides confirmation for my read that this isn’t a trap and also indicates that $6,500 - $6,600 should become very strong resistance
FIB’s: 0.786: $6,259 | 0.618: $6,343 | 0.5: $6.402
Candlestick analysis: Re exploring wick from bullish spinning top, $6,327 will be the first line of resistance and I think it has a good chance of holding
Ichimoku Cloud: D: Tenkan-sen at $6,469 will be apart of resistance cluster. Looks like it is starting to for C Clamp. 1h - 12h are bearish and the 1h has a thick cloud at $6,3227 - $6,436
TD’ Sequential: 1w: R1 | 1d: R4 | 12h: G3 | 4h: G4 | 1h: G5
Visible Range: Looking back 1 week: point of control = $6,272 and top of high volume node = $6,281 | Gap in volume up to $6,571 | Looking back 1 month the HVN’s pick up at $6,430
BTC’ Price Spreadsheet: 12h: +0.007% | 24h: +0.44% | 1w: -4.57% | 2w: -5.07% | 1m: -3.05%
Bollinger Bands: Climbing back into daily band. MA at $6,515 will be apart of resistance cluster.
Trendline: Bottom of symmetrical triangle at ~$6,550 will be apart of resistance cluster.
Daily Trend: Chop
Fractals: Down: $6,140 | Up: $6,701
RSI (30 setting): Weekly has fallen out of descending triangle and and is starting to turn over
Stoch: Making bullish re cross on daily. 4h and 1h are overbought.
Summary: Yesterday I outlined a possible short entry with a stop order at $6,239 and a stop loss at ~$6,330. If you took that position then the order should remain untriggered. If it were me I would leave it untouched since there is nothing that I have seen that would change my mind.
I would also be fully prepared to sell $6,400 - $6,550. Whether that means limit orders on the books or price alerts is up to you.
One of the hardest things about trading is waiting for your entry. Putting an order on the books and then waiting patiently for a fill induces anxiety, self-doubt and self-sabotage.
That is one of the main reasons why I love trading!
It exploits our most glaring weaknesses, exposes us for who we really are, and provides non-stop opportunity for personal growth. If you can learn how to establish a trading plan, prepare for an entry, place an order and then wait for > 24 hours for it to fill then you have more self control than the majority of gamblers and dopamine chasers.
If that is something that you have trouble with then try it out. Start with a small position and then pay close attention to the thoughts, feelings and impulses that arise while waiting for a fill. IMO', one of the only things better than making money is learning and growing as a person/trader.
Why do you love trading?
My most recent Bitcoin Bubble Comparison led to the following predictions: 1 day - 14 days = < $5,750 | bottom prediction: $2,860 by 10/30
Previous analysis / position: “I no longer think that this selloff could be a fakeout. The reason being is how much time we have spent below $6,400 support.” / Short BTC:USD $6,330 | Stop loss was moved to slightly above breakeven on ETH:USD based on the 4h wicks, was triggered last night.
Patterns: Descending triangle | Phase 2 hyperwave live
Horizontal support and resistance: $6,250
BTCUSDSHORTS: Massive triangle starting to form. If daily candle closes above 39,750 then the target is 60,959.
Funding Rates: Shorts pay longs 0.0263%
12 & 26 EMA’s (calculate % difference): 12: -2.30% | 26: -3.38%
50 & 128 MA’s: 50: -4.93% | 128: -6.36%
Volume: Volume spike provides confirmation for my read that this isn’t a trap and also indicates that $6,500 - $6,600 should become very strong resistance
FIB’s: 0.786: $6,259 | 0.618: $6,343 | 0.5: $6.402
Candlestick analysis: Re exploring wick from bullish spinning top, $6,327 will be the first line of resistance and I think it has a good chance of holding
Ichimoku Cloud: D: Tenkan-sen at $6,469 will be apart of resistance cluster. Looks like it is starting to for C Clamp. 1h - 12h are bearish and the 1h has a thick cloud at $6,3227 - $6,436
TD’ Sequential: 1w: R1 | 1d: R4 | 12h: G3 | 4h: G4 | 1h: G5
Visible Range: Looking back 1 week: point of control = $6,272 and top of high volume node = $6,281 | Gap in volume up to $6,571 | Looking back 1 month the HVN’s pick up at $6,430
BTC’ Price Spreadsheet: 12h: +0.007% | 24h: +0.44% | 1w: -4.57% | 2w: -5.07% | 1m: -3.05%
Bollinger Bands: Climbing back into daily band. MA at $6,515 will be apart of resistance cluster.
Trendline: Bottom of symmetrical triangle at ~$6,550 will be apart of resistance cluster.
Daily Trend: Chop
Fractals: Down: $6,140 | Up: $6,701
RSI (30 setting): Weekly has fallen out of descending triangle and and is starting to turn over
Stoch: Making bullish re cross on daily. 4h and 1h are overbought.
Summary: Yesterday I outlined a possible short entry with a stop order at $6,239 and a stop loss at ~$6,330. If you took that position then the order should remain untriggered. If it were me I would leave it untouched since there is nothing that I have seen that would change my mind.
I would also be fully prepared to sell $6,400 - $6,550. Whether that means limit orders on the books or price alerts is up to you.
One of the hardest things about trading is waiting for your entry. Putting an order on the books and then waiting patiently for a fill induces anxiety, self-doubt and self-sabotage.
That is one of the main reasons why I love trading!
It exploits our most glaring weaknesses, exposes us for who we really are, and provides non-stop opportunity for personal growth. If you can learn how to establish a trading plan, prepare for an entry, place an order and then wait for > 24 hours for it to fill then you have more self control than the majority of gamblers and dopamine chasers.
If that is something that you have trouble with then try it out. Start with a small position and then pay close attention to the thoughts, feelings and impulses that arise while waiting for a fill. IMO', one of the only things better than making money is learning and growing as a person/trader.
Why do you love trading?
Comment:
For to clarify that there is a significant premium on USDT exchanges (currently 1.21%). The prices above are an average of both and would need to be adjusted for accordingly.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/