SHORT Bull trap? or still a symetrical triangle?
So far my FA and SA havn't changed since my last analysis of the market.
But also the same goes for my TA...
- We are still in a symmetrical triangle
- It feels to me like a bull trap, sure we managed to break above ma200, but it was so weak with such a low volume , I don't think we can hold it, especially since we are at the edge of the cloud, and just stuck there... we might be able to push it due to Tether printing money or a whale buyer, but we won't break the the symetrical triangle, we will test 10k again eventually.
- We formed a pennant triangle as well, it holds a bit above the ma200, and also holds at the edge of the cloud, any break down or up would be a strong one but still withing the symmetrical triangle limits.
I will go with a short, since I do think that buying power matters and the most important key componenet in every wave, sure we did highs, sure we broke up, but to me it looks like yet another bull trap, even if we break the pennant triangle up, it will just confirm an even stronger push down right after wards (Still withing the limits of the symmetrical triangle).
#Short#currentprice10730
short range to enter: 10950-10600
sl: 10980
TPs: 10260, 10160, 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
PS: If you were in longs so far, I would suggest to cover at-least 50% profits, as this is never a bad idea to do so...
But also the same goes for my TA...
- We are still in a symmetrical triangle
- It feels to me like a bull trap, sure we managed to break above ma200, but it was so weak with such a low volume , I don't think we can hold it, especially since we are at the edge of the cloud, and just stuck there... we might be able to push it due to Tether printing money or a whale buyer, but we won't break the the symetrical triangle, we will test 10k again eventually.
- We formed a pennant triangle as well, it holds a bit above the ma200, and also holds at the edge of the cloud, any break down or up would be a strong one but still withing the symmetrical triangle limits.
I will go with a short, since I do think that buying power matters and the most important key componenet in every wave, sure we did highs, sure we broke up, but to me it looks like yet another bull trap, even if we break the pennant triangle up, it will just confirm an even stronger push down right after wards (Still withing the limits of the symmetrical triangle).
#Short#currentprice10730
short range to enter: 10950-10600
sl: 10980
TPs: 10260, 10160, 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
PS: If you were in longs so far, I would suggest to cover at-least 50% profits, as this is never a bad idea to do so...
Trade active:
#Short#currentprice10730
First tp reached 10260.. take 10% profit.
SL move to win position: 10590
Next TPs: 10160, 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
First tp reached 10260.. take 10% profit.
SL move to win position: 10590
Next TPs: 10160, 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
Trade active:
I really like this correction ;)
The pennant broke down as expected..
The pennant broke down as expected..
Trade active:
#Short#currentprice10730
Second tp reached 10160 (Now its on 10140).. take another 5% (So far took 15%) profit.
SL stays at: 10590
Next TPs: 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
Second tp reached 10160 (Now its on 10140).. take another 5% (So far took 15%) profit.
SL stays at: 10590
Next TPs: 10060, 9895, 9640, 9137, 8600, 8300, and leave 10% to run for any lower price.
Trade active:
#Short#currentprice10730
First (10160) 2nd (10060) 3rd (9895) SLs hit, I hope you managed to take profits (I took 40% so far). current price is 10086.
Move SL to profits at: 10385
Next TPs: 9640, 9137, 8600, 8300, and leave 10% to run for any lower price..
First (10160) 2nd (10060) 3rd (9895) SLs hit, I hope you managed to take profits (I took 40% so far). current price is 10086.
Move SL to profits at: 10385
Next TPs: 9640, 9137, 8600, 8300, and leave 10% to run for any lower price..
Trade active:
Guys, I want to provide you an answer from me that I've answered to another group about the expected Alt season debate they had:
- Jesus guys, as long as we are in this descending/symetrical triangles, no ALT season is comming... how can you be so blinded by this fomo which all are talking about...
- The more people sure about it, the less likely it will come, whales aren't stupid, they see all this excitememnt and they can easily keep on liquidating/bankrupt people like so....
- For real Alt season to come you need BTC to pump above ATH (for fresh fomo money to enter), only then you will see people move it out of BTC to Alts...
- BTC won't let other ALTs to get close to it in price, thus he needs a big rise before it will let other Alts to move...
- And atm, BTC is in troubles, because if it falls below 9050, then all ALTs will suffer new ATLs for very long while.
- I really don't think a whole Alt season will come ever, if it comes then it will be either:
1. Pump and dump alts to worst atl, while BTC keeps growing further away
2. Only real Alt projects with a lot of perfect Fundementals and a lot of good vibe sentimentals from community will rise (One example is Tezos, another "might be" example is Qash if they will really succeed and bring all that was promissed...)
- 99% of Alts will disapear by the end of 2022 from my perspective.
- Very rare few will stay a live and progress with natural rise in price compared to BTC (Just like silver and other real life 'scares' assets compared to gold)
- Alts talks/vibes remind me of when people talked about ath after BTC corrected from 20k to 8-10k xd, people just couldn't believe it will go much much deeper, all were talking only about the rise of BTC again, and it kept going lower and lower until people stopped talking about BTC XDDDDD
- 100% of Crypto/BTC social groups, just looked to me as if they died at that time ahahahah, so this might be same case for ALTs ^_^
- Jesus guys, as long as we are in this descending/symetrical triangles, no ALT season is comming... how can you be so blinded by this fomo which all are talking about...
- The more people sure about it, the less likely it will come, whales aren't stupid, they see all this excitememnt and they can easily keep on liquidating/bankrupt people like so....
- For real Alt season to come you need BTC to pump above ATH (for fresh fomo money to enter), only then you will see people move it out of BTC to Alts...
- BTC won't let other ALTs to get close to it in price, thus he needs a big rise before it will let other Alts to move...
- And atm, BTC is in troubles, because if it falls below 9050, then all ALTs will suffer new ATLs for very long while.
- I really don't think a whole Alt season will come ever, if it comes then it will be either:
1. Pump and dump alts to worst atl, while BTC keeps growing further away
2. Only real Alt projects with a lot of perfect Fundementals and a lot of good vibe sentimentals from community will rise (One example is Tezos, another "might be" example is Qash if they will really succeed and bring all that was promissed...)
- 99% of Alts will disapear by the end of 2022 from my perspective.
- Very rare few will stay a live and progress with natural rise in price compared to BTC (Just like silver and other real life 'scares' assets compared to gold)
- Alts talks/vibes remind me of when people talked about ath after BTC corrected from 20k to 8-10k xd, people just couldn't believe it will go much much deeper, all were talking only about the rise of BTC again, and it kept going lower and lower until people stopped talking about BTC XDDDDD
- 100% of Crypto/BTC social groups, just looked to me as if they died at that time ahahahah, so this might be same case for ALTs ^_^
Trade active:
#Short#currentprice10730
First (10160) 2nd (10060) 3rd (9895) TPs hit, I hope you managed to take profits (I took 40% so far). current price is 10209.
SL is still: 10385 (You may take more profits if you want before that)..
Next TPs: 9640, 9137, 8600, 8300, and leave 10% to run for any lower price..
First (10160) 2nd (10060) 3rd (9895) TPs hit, I hope you managed to take profits (I took 40% so far). current price is 10209.
SL is still: 10385 (You may take more profits if you want before that)..
Next TPs: 9640, 9137, 8600, 8300, and leave 10% to run for any lower price..
Comment:
****************************************************************************************************************************************************************************************************************
* If you like what I do, please push "follow" and "like".
* Also if you want live time signals and learn with the community then you are welcome to join here: t.me/joinchat/AAAAAEdUerTNmmk-6ARsBw
* If you want to appreciate my work with spare BTCs then you are welcome to send them to: bc1q8kzn0x8j4dmws00ntuhyma8p4c9jwyj0gzxua9
Cheers, love <3
Hedgehog King!
****************************************************************************************************************************************************************************************************************
* If you like what I do, please push "follow" and "like".
* Also if you want live time signals and learn with the community then you are welcome to join here: t.me/joinchat/AAAAAEdUerTNmmk-6ARsBw
* If you want to appreciate my work with spare BTCs then you are welcome to send them to: bc1q8kzn0x8j4dmws00ntuhyma8p4c9jwyj0gzxua9
Cheers, love <3
Hedgehog King!
****************************************************************************************************************************************************************************************************************
Trade active:
- The hedgehog's guide to the survival of the Symmetrical triangles:
- Why it's still not safe to go long:
- We are right below the 4h and 1h clouds testing, also right below the sma200 - all this at the 10100-1215 zone, rejection will cause pull down below the symmetrical triangle which will mean that we are going to test the 9080-9480 again..
- Succeeding in overcome the 1h and 4h clouds will bring us to test the daily cloud and the ma200 again at the levels 10550-10750.. failing to preserve these will cause same effect of going bellow the symmetrical triangle, succeeding to break these will bring us to test the 10950 area (A very strong resistance/support shifting zone).
_
* Mid term (Symetrical triangle up to 5 weeks (including the current one) breakout , ascending triangle up to 12 weeks (including the current one) breakout ):
- Symmetrical triangle - this is the consolidation zone where we create lower highs and higher lows until we break it out and create new patterns, this is where all the chup chup is going on and nothing is certain. breaking above this triangle will lead us to test 12300 again, if we break that zone with bullish trend (higher lows, higher highs) then we are more likely to break the 14k as well and continue towards the 20k ath... breaking below the symmetrical means we are in the ascending triangle.
- Ascending triangle is a bearish pattern, if we break below the symmetrical then the ascending one is next in the line, it has longer period of time, I believe that if we test this zone again (9080-9400) then this is a free fall towards the 5-8.2k (or more like 7500-8.2k), I really think 1 touch is enough to break it but we might need another 1, failing to do so after these 2 times will weaken the ascending triangle.