Confirmation: 55.53
Invalidation: 52.87
Type of Trade: Cyclical
Pattern: Bullish Flag
How to interpret this data?
For longs: Altcoins (i.e., ethereum, litecoin, bitcoin cash, etc.) likely to underperform Bitcoin. Altcoin traders are likely to convert holdings to Bitcoin.
For shorts: Altcoins shorts likely to outperform Bitcoin shorts.
Confirmation: 4040.86 (early) / 3916.87 (late)
Invalidation: 4193.82
Target: 3660.25
TF: 4HR
Leverage: 3x
Pattern: 1) three drive reversal with 2) previous bearish rejection candle (high risk of double top) and 3) weekly EMA200 resistance.
Breakdown of the channel will also breach the EMA50 on the daily:
Previously I posted a short trade for LTC following the November 2018 sell-off, but limited information invalidated the trade:
Now that the range is clear we can prepare to short this market again. Here's the weekly view:
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that...
Previously I posted a revision to the ETH short trade, but we had limited information to trade with so it was tricky:
Now the range is clearly defined. Currently we are sitting at a shorting level with price action trading near the confines of the overall weekly trend. We can short the market around this level or wait for confirmation at $100. There is also a...
Nice potential setup... I don't want to miss this one ;)
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Previously I issued a revised outlook for shorting BTC, but the range was less clear due to limited trade evidence so we exited the trade a few weeks ago (end of Jan):
Now the trading range is a lot more clear. We can see a large continuation pattern emerging along the definition set by the overall trend (large wedge pattern on the weekly). We can short the...
![LTCUSD: LTCUSD [REVISED] - 50% Cyclical Short Trade? Capitulation?!](https://s3.tradingview.com/b/BKfysxR4_mid.png "LTCUSD [REVISED] - 50% Cyclical Short Trade? Capitulation?!")
![ETHUSD: ETHUSD [REVISED - PART 2] - 30% Cyclical Short Trade?](https://s3.tradingview.com/l/LF1Sw8Lu_mid.png "ETHUSD [REVISED - PART 2] - 30% Cyclical Short Trade?")
![BTCUSD: BTCUSD [REVISED - PART 2] - 30% Cyclical Short Trade?](https://s3.tradingview.com/f/f22Mm6b6_mid.png "BTCUSD [REVISED - PART 2] - 30% Cyclical Short Trade?")