As we take a break and some time to breathe after this relentless bear market, I would like to show some general levels to be on the watch for on the daily:
The general trend line support (orange support line) is not a level I take too seriously. With every new low we get, a lot of people just move it down and down and down. I see it as a general level I watch...
Alright it has been a long 24 hours or 48 hours..... shit i can't remember. I haven't slept in awhile and I need more coffee. Since my previous wedge was broken due to market manipulation...*GASPS and DISBELIEF*. I have been watching closely to see what BTC is going to do; and making a tidy profit on Bitmex riding the wave of manipulation. It looks like we are...
The continuing short squeeze across the oil complexes is shown
quite graphically on the chart. The reverse head and shoulders
here points to a minimum upside target on Brent at 90.61 so
we can probably expect more of the same in the future. Near
term resistance lies at 81.27, then 83.30 and then a little
further out in time there should be a bigger jump
You can see that we went through a 'mini' downtrend. You would expect that people would learn from the previous super squeeze but once again the point where people start opening most shorts is after this 'mini downtrend' is completed.
With the price remaining static for already few hours and what looks to be a 'Trolling' rising wedge forming there is a good...
Looks like GLOW may be signaling a bottom. With a green hammer forming on the daily chart this could be a change in the trend. GLOW has been flirting with sub $.19 but held up well. GLOW has a p/e of nearly 1.28 and total assets of 15.42 mil. Could be a short squeeze coming.
Some big players have been shorting bitcoin cash since 950$ which hasn't worked out very well so far considering its currently at 1550$ which leaves many of those shorts trapped pretty hard (millions of dollars worth of shorts), which leaves me expecting a possible squeeze causing these shorts to collapse sending bitcoin cash up a couple hundred bucks and possibly...
BCHUSD has done a great movement yesterday but now is quite extended from EMAs
Remember, it is always best to take any trade near these levels or even near pivots or trendlines (far from these levels could considered as extended, quite dangerous and chasing the trade)
Now we are waiting the retracement to occur then of course taking the pullback :)
This is for educational review. This is not financial advice.
Wanted to show that a short squeeze can move the price up impulsively on the flip, but doesn't indicate a bull market. More likely just the big boys taking retail heroes money who don't have enough margin to cover shorts. Everyone was eyeing 7500 as a stop loss but the real stop loss is at nearly 9K...
Yeah. I can see it happening next week.
If we gain any momentum at all we will squeeze these late shorters.
I am betting on a play to mid 7500+ with enough juice for an 8k profit point.
Good luck. Manage risk. We were 4/4 last month on trades with a profit target of 3:1 or more. My analysis shows a strong probability of a short squeeze in the works.
Looking at BTCUSD on the 1 hour chart, there were two hourly squeezes that would have worked out nicely for potential trades.
Both squeezes fired off LONG and a subsequent large rally in BTCUSD was seen for nice gains.
Trade entry - after red dots turn gray (Squeeze ends)
Trade exit - at peak of histogram (histogram begins to trend lower; programmed to change...
Earlier this week, BTC had a fantastic bounce off the 2D long term trendline that I have shown on the chart above and more clearly on the one below.
We are now facing minor resistance at the .382 fib extension, with the major downward trendline not much higher above.
Failing to break through this first level of resistance would likely be a continuation signal,...