Real quick posts for y'all. We have hidden bearish divergence on the OBV EMAs that has built up for months. When we look at the last mega-spill we had we also see that hidden bearish divergence built up for months and then we proceeded our way downward.
The volume situation just does not justify a move to the upside. And secondly, the triangle we are performing out of now is no where close to finishing its performance. Until we start to see the OBV EMAS start to set congruent lows, or bullish divergent lows we are not at the time where we should be looking at going long with anything more than a snipershot. Especially when we are no where near performance on the chart formation. We start to get to 60-70% of the way to target, and it lines up with VPVR node/weekly moving average then we can talk about going long.
Take a look at the ethereum chart. The downtrend right now looks worse than the one that started this bear market. So long as the OBV EMAS don't sort themselves out the bias is for every continuation pattern to break to the downside. if it breaks up, we are just setting up a larger continuation pattern that will move to the downside.
The volume situation just does not justify a move to the upside. And secondly, the triangle we are performing out of now is no where close to finishing its performance. Until we start to see the OBV EMAS start to set congruent lows, or bullish divergent lows we are not at the time where we should be looking at going long with anything more than a snipershot. Especially when we are no where near performance on the chart formation. We start to get to 60-70% of the way to target, and it lines up with VPVR node/weekly moving average then we can talk about going long.
Take a look at the ethereum chart. The downtrend right now looks worse than the one that started this bear market. So long as the OBV EMAS don't sort themselves out the bias is for every continuation pattern to break to the downside. if it breaks up, we are just setting up a larger continuation pattern that will move to the downside.
Comment:
I entered my short a bit early but I am holding it. The chart below show BTCUSD figting stiff resistance at 200MA and ETHUSD fighting both 50 and 400 MAs. not a good place to be, especially given the OBV EMA situation, as well as the double ichi cloud situation and the fact the BTCUSD triangle hasn't come anywhere close to completing its performance.
Comment:
It may be a little early to call this but using the MAs as guidance I think we should see something like an Descending Triangle Develop.
Comment:
Comment:
Nice to see the resistance of my descending triangle still holding true. Things continue to look bad for the bears.
Trade closed: stop reached:
Feels bad man. I got stopped out of my ETHUSD position that i pivoted into after this position.
Feels bad man. I got stopped out of my ETHUSD position that i pivoted into after this position.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
