Our educational crypto trading group is focused on learning trading through actual trade repetition. Learn enTHUZed’s quick and easy Strength Trading system using simple chart indicators to “short the Rips and long the Dips”! We cover these major spot trading pairs regularly: BTC , ETH, BIT, DOT, EXRD, LTC, SOL, SHIB, & XTZ coin margin derivatives pairs: BTC ,...
BTCUSD is approaching a major daily resistance cluster.
40,000 - 42,000 is a potential reversal zone.
To catch a swing move from that,
wait for a bearish breakout from the channel is formed on 4H.
We need at least a 4H candle close below its support to confirm a breakout.
Goals will be target 1: 36kx and target 2: 30kx.
The standard ichimoku cloud's kijun line (referred to as Base line in the indicator settings) is the mid-point of the high and low price over the last 26 periods.
I use Carpenoctom's modified ichimoku cloud inputs for cryptocurrencies since it is a 24/7 traded asset. The kijun shown here uses 60 periods instead of 26.
Carpenoctom has created a video series...
The bearish nature of this rising wedge, a correction of the previous dump will end up in a bear break around 10/19.
Trading on both sides. I'll open a long position now with a tight stop, and I will close it around $ 8.800 and $ 9.100. Right after I'll double a short position.
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Quick update for what I am personally watching. I've said for months now that in my opinion our strongest support has been down at $7400-7750 area and we have yet to re-test this area. We certainly don't have to re-test it but would be a strong support area in my opinion. With that said, yesterday we broke my pattern bearish at about $9450 and fell to $8160 (about...
We got the break of pattern as expected today and unfortunately for bulls, it was not direction we wanted. I personally had stop buys set over night in case the opposite happened but as stated before, these are 50/50 chances so you have your exact entries and if the bears win then no harm done. Opportunities to play oversold bounces but thus far not interested...
Leaving same 4 hour chart from yesterday here and if you actually zoom in on smaller time frame (5-15 minutes) it is much clearer. But yesterday we were watching for a potential bear flag as well as watching our 12 EMA serve as resistance.
The bears made an initial bear break but overall was fairly weak and a fairly quick recovery by the bulls to buy things back...
Hopefully everyone enjoyed the weekend!
A few days ago I posted about being cautious as we sat up in the mid $3600's after the initial bear break. To me it was likely just a bear flag and we were waiting for our next leg down. We finally got that and bottomed down at $3482 yesterday. Bulls have bounced up towards $3550 here but thus far a rather unimpressive...
Been a few days and last chart was from Monday where bulls were sitting at low $4,000's and I discussed not being impressed by the bulls since they had failed to break to higher highs from when we had hit $4239. I also spoke about the bulls needing to avoid the elevator back down.
Well yesterday we saw that elevator down. Bulls fell about 12% yesterday in a short...
Hello crypto traders!
Sorry I was just too busy yesterday to get a chart up with all that chaos going on. But lets step back, take a deep breath and look at what we have been discussing for days now.
A week ago I had discussed the trend changing and had finally gotten stopped out of my last trade position and locked in profits around $6440. I was then happily...
