hello guys...
Based on the chart analysis, it appears that BTC has formed a falling knife pattern, indicating a potential downward movement. To capitalize on this, you have a few options:
1-Take a short position right now and relax.
2-Exercise patience and wait for the price to touch the green area before taking a short position.
3-Take positions in both areas,...
CME:BTC1! BTCUSD.P BINANCE:BTCUSDT
Will Bitcoin hold $16000-Falling knife or Swing failure pattern?
Is taking a long trade here a good idea or will we lose $16K?
I look at price action as it happens and what levels to look out for if we lose $16000. If this is a Swing Failure pattern playing out, I explain how I will trade it
Not Financial advice
Trade with...
Primary Chart: BTC's Right-Angled Triangle
"Don't catch a falling knife" is an oft-quoted aphorism among traders and investors. At its core, it's a warning about the dangers of buying into a downtrend or sharp drop before price has shown evidence of a bottom. Of course, there are profitable trading moves around buying dips in uptrends , and this cautionary...
After breaking the downwards trend to the upside, the $BTC price has crashed back down into the wedge, forming a small bear flag inside. IMO this is showing that the mid-term pattern that $BTC has been in will break to the downside. This will possibly be a big "fake-out" for bears and might cause some sort of a short-squeeze situation. In anticipation of that, I...
Since September PYPL has been having a bad time. Sucks for those holding shares, but for others, it sets up a good opportunity for large gains.
There are two scenarios I'm expecting to play out
1. It goes down to the weekly SR level and volume area at ~$100 and reverses from there. If that doesn't happen, exiting before the gap under $97 is the move.
2. Assuming...
Zooming out to the 4 hour, and drawing the falling wedge would indicate a potential now to retrace and retest the wedge. Should this bounce with volume, $61k BTC is not out of the question.
Now with that said, momma always told me not to try catching a falling knife. Especially a pizza knife. Those circular things can really do some damage if handled...
Set your limit buy to $570-580 folks. Time to load up on Netflix soon for some bounce play. Netflix took a double top bearish drawdown and it’s a falling knife, with the 20 day crossing the 50 it’s still bearish and could drop more, but there is support soon. RSI 34. Today we could see my buy zone with the fed interest rates. Buy the dip!
Like and follow...
*SMT = Smart Money Theory = everything you think that is not retail related to trading. First, SMT does not believe that triangles, wedges, trendlines, channels, harmonics, etc. has any effect on how price reacts. The second is to recognize that the price is not random, it is set by an algorithm controlled by those that control the asset. The Third thing to...
It's becoming clear to me that in a few days, we will have a huge breakdown as the down trend could not be broken and accumulation is invalidated.
Price will move in to oversold territory at around $21.850 and a climactic action won't stop there.
So, where do you think you can catch the falling knife?
EURUSD has barreled through my previous targets tagged to this post. It has continued to consolidate and after a busy news week and despite volatility there was no true movement in the exchange rate it seems to have found some acceptance. However, with another busy news week that holds lots of weight in both pairs, I expect to see some nice movement in the price...
