After the American JOLTS job openings turned out positive, this strengthened the USD (DXY) and led to another small down-sale wave in BTC.
Now we have settled at the 0.618 FIB which is accompanied by a 4h DEMAND zone + in addition, we are at the bottom of the formed down channel.
The aforementioned points together form a strong support zone, allowing the opportunity for a long position.
Additionally, from the volume profile, the most traded volume in the last few days, is right at the hotspot of the indicators.
TAKE + STOP LOSS are given
> the Take Profits, should be determined after weighing your own risk understanding.
Good luck and the IDEA will be updated of course.
Now we have settled at the 0.618 FIB which is accompanied by a 4h DEMAND zone + in addition, we are at the bottom of the formed down channel.
The aforementioned points together form a strong support zone, allowing the opportunity for a long position.
Additionally, from the volume profile, the most traded volume in the last few days, is right at the hotspot of the indicators.
TAKE + STOP LOSS are given
> the Take Profits, should be determined after weighing your own risk understanding.
Good luck and the IDEA will be updated of course.
Trade active:
The idea worked perfectly out, after the first test of the “POI - Area”, the price came down to grab a little bit more liquidity before we made the short term bottom.
> Who don’t took profit now should do it!
> I target the upper end of the downward channel / combined with the 0.618 FIB (UPDATED)
UPDATED RETRACEMENT AREAS
> Who don’t took profit now should do it!
> I target the upper end of the downward channel / combined with the 0.618 FIB (UPDATED)
UPDATED RETRACEMENT AREAS
Comment:
The DXY (USD index) is pushing BTC down quite a bit right now, despite the fact that the DXY's momentum is consistently going down, it has not given up its position yet.
In the following chart, you can see the DXY as it is above its formed RANGE.
> If the BTC LONG is to work, the DXY must re-enter the trend channel, confirm it, break through at the bottom, confirm again and then sell off.
Therefore, if you are thinking about taking a position, keep an eye on the Range and the DXY.
In the following chart, you can see the DXY as it is above its formed RANGE.
> If the BTC LONG is to work, the DXY must re-enter the trend channel, confirm it, break through at the bottom, confirm again and then sell off.
Therefore, if you are thinking about taking a position, keep an eye on the Range and the DXY.
Comment:
The RANGE in the DXY is broken = now there is not much in the way of the rise.
> THESE / LONG
> THESE / LONG
Comment:
The DXY sits now on a strong FIB Level support, and we should see a bounce from here.
= Pressure for all markets
= Pressure for all markets
Comment:
UPDATE
> BULLISH DVERGENCE - MOMENTUM BUILDING UP
> GOLDEN POCKET SUPPORT - GOT DEFENDED
> BULLISH DVERGENCE - MOMENTUM BUILDING UP
> GOLDEN POCKET SUPPORT - GOT DEFENDED
Comment:
BTC and PEPE don't care about the re-bounce happening in the DXY.
> That is a really strong sign, which should lead us to some upside over the weekend
> The DXY come back to the RANGE and we will see if it can hold this, or stays as a resistance.
> That is a really strong sign, which should lead us to some upside over the weekend
> The DXY come back to the RANGE and we will see if it can hold this, or stays as a resistance.
Comment:
Now that we have "WEEKEND - PRICE ACTION", we should see fewer movements in the market.
Per tradition, there occur normally "FAKE PUMPS", which don't have any reason - but are good opportunities to - Take Away - some profits.
In the charts are all - ZONES - which will be important over the weekend (if NO NEW - Lower Low - will be created).
> The VIOLET ZONES are TARGET ZONES (= Take Profit points)
> Good Luck and Happy Trading!
1 H - TF | RICHTUNG
1 H - TF | ÜBERSICHT
4 H - TF | ÜBERSICHT
Per tradition, there occur normally "FAKE PUMPS", which don't have any reason - but are good opportunities to - Take Away - some profits.
In the charts are all - ZONES - which will be important over the weekend (if NO NEW - Lower Low - will be created).
> The VIOLET ZONES are TARGET ZONES (= Take Profit points)
> Good Luck and Happy Trading!
1 H - TF | RICHTUNG
1 H - TF | ÜBERSICHT
4 H - TF | ÜBERSICHT
Order cancelled:
With the new move, the SEC against BINANCE, the correlation with traditional markets no longer works for now.
The SEC accuses Binance of embezzlement, which has strong consequences for the crypto market.
> For this reason, we have to wait and see for now, as any news is immediately priced into the market = regardless of whether NEGATIVE / POSITIVE, which makes the current trade in the crypto segment very unpredictable.
In an article by "BTC-Echo", the state of affairs was summarized quite nicely, so I will quote the most relevant points.
QUOTE
> According to a new letter from the District Court of Columbia, the Security and Exchange Commission (SEC) accuses crypto exchange Binance of misusing funds and lying to regulators.
> According to the SEC, the world's largest crypto exchange commingled billions of dollars in customer funds with its own assets and secretly transferred them to a separate company controlled by Binance founder, Changpeng Zhao (CZ).
> The court filing lists Binance Holdings Limited (Binance), BAM Trading Services Inc, BAM Management US Holdings Inc, and the company's founder, Changpeng Zhao himself.
> In addition, the SEC defines the cryptocurrencies Binance Coin (BNB), Solana (SOL), Cosmos (ATOM), Cardano (ADA), Polygon (MATIC), and other altcoins such as Decentraland (MANA) and Sandbox (SAND) as securities, among others, in this recent letter.
www.btc-echo.de/schl...veruntreuung-165537/
The SEC accuses Binance of embezzlement, which has strong consequences for the crypto market.
> For this reason, we have to wait and see for now, as any news is immediately priced into the market = regardless of whether NEGATIVE / POSITIVE, which makes the current trade in the crypto segment very unpredictable.
In an article by "BTC-Echo", the state of affairs was summarized quite nicely, so I will quote the most relevant points.
QUOTE
> According to a new letter from the District Court of Columbia, the Security and Exchange Commission (SEC) accuses crypto exchange Binance of misusing funds and lying to regulators.
> According to the SEC, the world's largest crypto exchange commingled billions of dollars in customer funds with its own assets and secretly transferred them to a separate company controlled by Binance founder, Changpeng Zhao (CZ).
> The court filing lists Binance Holdings Limited (Binance), BAM Trading Services Inc, BAM Management US Holdings Inc, and the company's founder, Changpeng Zhao himself.
> In addition, the SEC defines the cryptocurrencies Binance Coin (BNB), Solana (SOL), Cosmos (ATOM), Cardano (ADA), Polygon (MATIC), and other altcoins such as Decentraland (MANA) and Sandbox (SAND) as securities, among others, in this recent letter.
www.btc-echo.de/schl...veruntreuung-165537/
Due to the inconclusiveness of the DXY, I refer to closing for TRADE at 100% / run small position size once the points below have been approached.
The divergence in the DXY still exists and the LONG for crypto is thus justified - however, I personally do not like how the DXY continues to move.
Those who are risk - affine can let it run on, I am waiting for a clearer picture and will comment on them here then.
15 M - TF | OVERVIEW