This post contains both a bullish and bearish scenario.
My current opinion on the situation is that there are far too many longs, which leads me to believe that we are due for a move up followed by an increase in short interest and subsequently a rather violent dump. This is shown on the chart.
This is where the bull/bear battle will unfold - and where you'll...
Hidden Bear divergences have led to nasty declines in the past.
Will it happen again?
Were awfully close to major major support levels and ancient long entries here. With a very disproportionate L/S ratio.
Not trading based on this but will be very interesting to watch what happens.
2 Entries - agressive/conservative
That last wick cleaned house on Bitmex, i believe it was the kiss of death.
200ema confluence coming in around targets shown, pretty easily defined risk.
And of course the H&S meme if you're into that stuff.
On the left we have a *potential* Adam and Eve formation.
Pretty textbook looking: prntscr.com
Im by no means an expert on this pattern so if i am wrong someone please inform me in the comments below.
Will be placing a long at the OTE of our most recent swing, targeting the top of this range @ 1.319 - but will watch for continuation to 1.34's
Last AUDCAD trade literally used my stop as an SFP, but an SFP did occur which has me interested in this pair yet again.
I will not chase it though, will be buying a retrace, if we get one, if it continues - ill move on.
Nothing fancy - looks like stops have been ran, if it does not pick up and break out upwards ASAP i think retrace is inevitable.
Take a peek at the volume, pointing towards a fakeout.
Very low risk setup here.
This is another Tin Foil hat post. Do not make trading decisions based on this post, and understand this is for curiosity purposes only.
There are definite differences between the two bottoms, mainly the volume profiles - but would be interesting to follow if this begins to play out.
If it did play out completely, we could end up with something like...
If you pop over to CT - you get a myriad of different calls from the talking heads about sweeping lows, new lows, 3k incoming, BTC to 1k, etc etc.
You can imagine where these people are setting their bids - my aim is to front run them by using out most recent swing low, as i believe the big players will want to generate liquidity by running those stops, and...