Too much sideways if compared with last 3 weeks of crazy movement.
Low liquidity weekend is here.
Fomo 1hr/2hr/4hr is Red
HTL is red
Everything is pointing to a down
Target would be 3820 to 3750.
If we don't break down by Monday/Tuesday, BTC could do it's infamous Inverse Bart Head and make a quick spike up....
SHORT TERM ANALYSIS
If current 4hrly closes here it'll be a bullish spinning top.
If it closes higher, it'll be a bull hammer.
If it closes below 3910, SHORT is still ON.
3 hours from now.
A lot can happen in 3 hours.
Perfect LONG entry here would be 3780 to 3640
I'll close my complete SHORT around 3900 and seek a tiny LONG entry around 3910.
After falling from the Rising wedge (if you followed my previous trade), BTC is completed a HnS pattern.
Should keep going and consolidate in 4000-3800 zone.
If you are not in this SHORT already, try getting in as high as possible.
Stagger your entries till the top of right shoulder (4300).
Take Profits between 4100 and 3800..
Yes, I'm serious.
I drew this wedge a week ago but wasn't really expecting it to make a stop at the support.
Now that it has, it looks like it could turn into a really good LONG trade.
BCHZ18 is already at it's lowest. Well it is if you ignore that dirty wick to 305.
I'm going to wait for a a bullish 4hrly close before jumping on it.
So, basically this trade is...
EOS has dropped a lot since my SHORT call day before. How amazing would it be if we can get ride it back.
No trade zone on 4hrly is building up on EOS.
Which means that reversal is close.
But it doesn't mean that the reversal is on next candle.
It could keep dropping during no trade zone.
I'm going to keep an eye on it and wait for a confirmation from next 4hrly...
Previous 4hrly is a nice Bull Hammer
With BTC dropping, it should be a safe trade as Ripple moves opposite to BTC.
After getting stopped on previous LONG, I re-entered a tiny LONG position at 8700.
S&Rs -> 9996, 9870, 9724, 9636, 9514, 9385, 9268, 9180, 9087, 8944, 8740, 8582, 8440, 8204 and 7952
Have already Staggered along 8740, 8582 and 8440 with a SL at...
This can be traded on any exchange including Bitmex.
But remember prices of Bitmex will be different as compared to prices on Binance.
I'll be trading EOS on Bitmex. Charting here due to lack of historical data on Bitmex Chart.
EOS has been forming this triangle for a while now. Has made multiple attempts to break the top.
I'll be SHORTing it on...
XRPZ18 has been converging into this symmetrical triangle for a while now.
Below is trendline which is running since 12th of October.
I believe it'll be a decent breakout.
Buy -> 9180
Stagger 1 -> 9122
Stagger 2 -> 8941
Stagger 3 -> 8747
SL -> 8710
I'll update the TPs once the buy order is filled.
Yes, I'm still saying BTC is not gonna moon anytime soon. This 85% retracement has prolonged the bear market by another 6 months at least.
Let's see what BTC has gone through over past 2 weeks.
The first drop
We dropped to 5180. Tested 0.382 Fib and went down
We dropped to 4016. Tested 0.236 Fib and went further down
Reached 3440. Saw 3 nice...
Current consolidation could go on for another 3 days but in the end I believe BTC has 1 more drop left.
Multiple rejections from 4k resistance.
Couldn't manage to reach 618. Got rejected there.
The downward momentum is really high atm.
Forming another descending triangle.
Bullish Divergence has been forming on 4hrly timeframe but we have 1 more drop left before...
Thanks to BCH we have a bull market for the next two weeks. Binance is going to be honoring the Hardfork BCH is having so people are going to buy and hold this to get the free coins. Look on a lower timeframe for entry. Don't short this unless it breaks the trendline, you will get rekt. Buy hold for 2 weeks then try short the top.
THIS IS INVERTED CHART
Been accumulating alot of coins at 410-420 range for months ( NO LEVERAGE )
based on strategy macro chart HIGH RR longterm trade:
- strong Reversal/Enter Signal = at 506USD Break
- STOP LOSS: 400USD
- Profit Target: 751USD
All my trades are based on PROBABILITY and NO PREDICTION. I dont use fundamentals because i dont care !
I've caught most of the pumps that have taken place over the last few days. I must say if you blink you probably miss most of them. However these bursts of volume cause all indicators to look differently than if they hadn't happened. This must be considered when analyzing price action. I'm still bearish on ethereum and added near the top of the last pump. I may...