1st Break of Channel Extreme boundaries in the 1 Week timeframe chart
Daily time frame chart presents a Setup for a short position:
Imbalance, that got filled a posteriori
Orderblock is one that manipulates the market
Liquidity formation below area of interest
The approach to the area of interest is with low volume. Price goes up but volume goes down...
With the crypto space in a bear market right now, down is the direction of the trend.
SOLANA broke down from H&S pattern last January 5. The retest seems to have ended in January 13's action.
Let's see if it can break below it's horizontal support level.
We need to close under the monthly dojis wick if we want to see further downside. Close the montly above the line and we see bulls send bitcoin to 58k before re-evaluation of trend. I am biased bearish as per usual. These tops take a long time to bottom.
potential targets (with good probability of occuring)
credit to FRANCIS HUNT for allowing me to spot these
(but I am no expert trading them, as I never was part of his trading community)
@thecryptosniper on TWITTER
But I must present the possibility of this occuring
HOW much would this hurt you if this occured..?
Proceed accordingly
AND BUY THAT dip! IMO would be a multi year LOW
I cashed out my leverage long position
and converted what remaining #ETh I had into Cash
As price decreases and the Open Interest decreases
= The bear trend is weakening
As prices decline and the open interest increases = new bears piling on
I'm not an expert at reading this so comment if you understand it...
Bitcoin should see downside pressure from here on.
Potential to drop to 10700 and from there we will have to see if this support holds.
Expecting moves in Nasdaq, SP500 and DJI to drag BTC down with it for a certain amount of time. With it I expect ETH to drop for a few weeks as well.
RSI showing divergence. TomDemark showing top for ETH. Trendline hitting...
Algorand looking as if it is building one massive broadening triangle which could go into both direction when hitting the bottom.
Looks very bearish at the moment. Also built a H&S in shorter time frames. Good luck with that one!
Happy Trading!
The levels I had in place for XRP for Bybit exchange were dead on. It would have made an excellent short...
As expected, eventually the support was eaten up and it collapsed out of the range it's been in for some time now, as some good traders said, it wasn't unlike BTC at 6k in 2018.
This is where things get interesting, XRP is now reacting to the levels set...
Bitcoin bearmarket is going according to plan. It just got oversold a bit too much right now and will most likely retrace to previous breakdown range of around 5-5k 6k. Other than that check the reffered chart I've posted some time ago. We've now hit 70 percent line, but we've still got room to drop.
As I have pointed out before, BTC likes to bounce at the .886-1.13 and the .618 retracement.
Every retraced run has resulted in 100% accuracy of the predicted move within roughly 100pts
of the retracement mark. The retracement for 2 runs ago gave a nice bottom pattern within 100pts,
and now this leg up has come within 100pts of the .618.
The strategy is to...
I already posted most of the reasons why I think crypto jumps off a cliff soon.
I would not be surprised if a bastard whale has some fun and manipulates the herd to go insane once again "this is it the big rally! HAHAHA to the moon! bears got rekt we won!"
How braindamaged does one have to be to not comprehend he is a part of the market and every one else like...
