Just like BTC, LTCZ18 is setting up for a nice uptrend.
Massive buy n hold returns here if BTC runs to test low to mid 4Ks.
Sitting on HTL right now. Primed for a small run.
Now, My trade for this looks like this
Initial Entry 812
Stagger 1 -> 809
SL -> 806
Short Term Target -> 825
Mid Term Target -> 835
Long Term Target -> 870
Well, ever since that dump from Hard Fork, it has been constantly dropping.
We are at Test 4 of HTL break out.
Forming a symmetrical triangle too.
Decision time -> Less than 24 hours
Short Term - Bullish
Long Term - There is no Long Term with shitcoins.
How am I trading this?
I'll be keeping an eye on this one.
A close above...
We broke out of the falling wedge yesterday and are now sitting around 3500 resistance.
3540 to be precise.
Consolidation below a resistance is usually a weak sign whereas consolidation above usually leads to higher highs eventually.
Daily has closed as a nice fat green.
The direction is still not clear.
LONGs and SHORTs are both...
I didn't take the trade on my main trading account as it was against the trend. And because I wasn't expecting a nice 10% push.
Did some scalps both long and shorts during yesterday's ping pong price action.
I've set up AutoView on one of my trading accounts that execute trades based on 4hrly FOMO Signals.
Now, when I had a SL hit at 3261 yesterday on my SHORT,...
As we've been observing for last couple days, LTC's movement has been complete opposite to BTC.
And there was a time, when it used to follow BTC just like ETH.
It's forming a bull pennant.
The sentiment is bullish.
The trade setup is simple.
Initial Entry - 728
Stagger 1 -> 725
Stagger 2 -> 722
SL -> 720
TPs -> 738, 748 and 769
Met the long term downtrend resistance.
Forming a symmetrical triangle.
Since it follows BTC closely.
Watch for BTC, if it runs, ADAZ18 will run too
If BTC tanks (more probable), ADAZ18 will tank too.
FOMO 1hr is red.
FOMO 2hr and 4hr are green.
We made a bunch of profitable SHORT trades.
After Multiple failed attempts to go down, volume-less dumps and bounces from 3120-3140
We are back to 3180-3200
I mentioned in my previous post that it's risky to be trading in this environment.
I made a multiple SHORT scalps during this dumps.
From what I can see, there isn't enough liquidity in the...
This bounce and weak volume has made me fairly certain that 3200 is not the bottom.
After a nice SHORT this morning, we have tested the bottom of the falling wedge I shared late last night.
Volume is still not good. One would have hoped for volume to pick up after that bounce from under 3.2k. But nope! Nothing! Too weak.
Before I begin, I want to make it clear that this is a simple price prediction based on fibs and assuming 2900 will be the bottom of this drop.
The study is based on the market cycle and Fib extensions showing BTC's love affair with 4.23 Fib.
Comparison with previous market structure's timeline
1. 1st Bullish Rally ($4 to $1150) lasted for 24 months.
What a boring 48hours!
1. Falling Wedge -. (+ve) Breakout
2. Descending Triangle -> (-ve) Breakout
Doesn't matter in what direction it breaks out from these patterns, in the end, everything points 2900. It will happen. The question is when. I've never seen any commodity reverse it's direction in the middle of nowhere.
Where BTC is atm, it's the middle of nowhere....
FOMO 4hrly Buy Signal was received around 3360
1hrly and 2hrly have been green since 3330
I got in a LONG position once 1hr and 2hr Signals aligned.
I entered with a very small margin and low leverage simply because I was counter-trend trading.
Now once, I received this Buy Scalp Signal (3385), I increased the number of contracts in my position and increased the...
Fibs suggest 3200 or 2900 should be the bottom of this massive retracement.
After 3500, Weekly and Daily Horizontal support is 2950. If 3200 was the bottom, we would have seen some big buy volume in that price range. We haven't seen that yet.
The declining volume is pointing another move down. But to go for further down, gathering liquidity in the pool is...
ADA seems to have found a temporary bottom.
Remember, if current bottom doesn't hold, it's going to mid 600s.
With a little help from BTC (if it runs), ADAZ18 might see a bit of an uptrend.
Pink Lines are the Targets
LONG at 875
Stagger 1 -> 870
SL -> 868
As you can see that, after 2 days of sideways, that downtrend resistance is here.
If we break that, we'll be heading to 3640 or higher for now.
If you are in a SHORT, I would suggest close it for now or chase it with a Stop Loss.
This doesn't mean that trend has changed.
We are still very much in a downtrend.
But for the time being, over a short...
BTC has been pretty volatile today as compared to last two months when it was making 0.1-0.5% moves in days.
Today it jumped to 3499, came back down to 3320.
2.x% move up and 2.x% move down within a day. Good day for scalpers.
We are around same price where we were yesterday.
I'm still positive about letting this SHORT run.
The TA is simple here.
Do not buy BNB. Not just yet atleast.
It's dumping hard like every other thing in crypto sphere after the recent pump.
Now, wait for it to bounce from 12400.
See if it holds.
It's the previous bottom since it's all time high.
See if it consolidates around that area.
If it breaks 12400, next stop is 10200.
Imo 12400 will break this time and...
After that inverse BART, we got that drop as we expected.
I did expect it to break the new uptrend support but it didn't
So, now we have 3 patterns going on right now on the 4hourly timeframe.
1. Symmetrical Triangle (Blue)
We marked an uptrend support line after the inverse BART.This uptrend support line is forming a symmetrical triangle from our previous...
It's also forming a bear flag on the daily.
Pink lines indicate bullish divergence that has started to play out.
Over last couple, XBT has been trending up on the Daily chart along the red trendline.
There is tiny bit of bearish divergence on the daily too.
Marked in blue lines.
If BTC holds the red uptrend line, we'll keep cruising up on daily...