I nearly got stopped out on short trade of orders placed in the 8200-8400 region but the daily never closed above 8650.
It pulled back near 8300/8400 where I closed at a minor loss.
I re-enter short upon break of the uptrend line and am on the side of profit.
October is coming to an end and this is how I would sum it TA wise.
We'll head into...
Good morning all, hope all is well!
Possible inverted heads and shoulders might be in play.
A break of 8250-8300 in short term would confirm it.
Bull's targets are 8350, 8510, and hold if 8650 breaks.
Despite the possible inverted heads and shoulders, I get a gut feeling the bulls are running out steam and will get rejected at the neckline or at the volatility...
Good morning all!
I have had a great month of September and managed to multiply my trading stack by 5 times! Hopefully you have been following my TA and earned profits as well.
That being said, I'm really looking forward to the month of October and increase my trading stack even more!
Now let's see what the technicals say.
We are still trading in a bear flag...
Good morning, hope all is well!
BTC is trading inside of a weekly range near the price of 8240.
VMA is resting above near 8420, whereas Tenkan and Kijun lie at 8300 and 8720 respectively.
Bulls need to claim 8650 to test 9k, possibly 10500.
For as long as the price action trades below the VMA, I am expecting further downside towards 7500, possibly 5500.
Good morning! Hope all is well!
We have seen the price action develop since last update so let's define the market structure a bit more.
The price action is currently trading inside the gray channel facing short term resistances of 8300, 8600, and 8800 whereas the supports lie at 7700, 7500, and 5500.
VMA is resting above near 8500, suggesting that the...
Good morning! I made a whopping 2200% shorting from 10200 and hope you have been following my TA so you had your share also!
So the drop happened and you might be wondering how to proceed.
Let's formulate a gameplan moving forward!
The price action is trading near 8300 and facing short term resistances of 8500 and 9100 whereas the supports lie at 7500 and...
Good afternoon! I hope everyone has had a successful trading week! I've managed to increase my trading stack by 85% past couple weeks and am pleased about that.
Today I think we will close below 10200 which is my opinion important support level on the daily timeframe. If we don't close above that by then, it is likely we'll head into a bearish trend next...
Good morning! I hope all is well!
There was a descending triangle forming inside the 10200-10600 consolidation range and upon break of the short term uptrend line, XBTUSD fell roughly 6% and found support near 9650.
The price has now recovered by 2% and is trading around 9870.
It is facing short term resistances of 9920, 10050, and 10180.
Because VMA is...
Good morning! Hope everyone has had a good week!
Since last update, XBTUSD fell roughly 6% and has now recovered by 4%.
The price action is trading around 10300 within last week's consolidation zone.
The VMA (volatility moving average) is resting above near 10450, suggesting that the volatility is in the bears' favor.
Things are looking grim for bulls.
Morning! Hope everyone has had a good weekend.
I was asked about Dash, so I'll write my thoughts here.
DASHUSD fell roughly 60% from the 200 high and managed to find support on 80.
It is currently trading around $92.
The VMA ( volatility moving average) is resting above it near 180, suggesting the long term volatility is in the bears' favor.
For a short term...
Good morning! Hope everyone had a good trading week! I increased my trading stack by 11% so I'm pleased!
Let's formulate a gameplan for this upcoming week, shall we?
The price is currently trading at 10420 after dropping 6% and recovered by 2%.
We have a local bottom and top which forms a range of 10200-10600.
The VMA (volatility moving average) is resting...
Good afternoon! Hope all is well!
Bulls defended the 10500 support to rally towards 11k resistance but lost momentum and fell approximately 6%.
It is trading above 10400 support where the VMA lies below.
If VMA holds as support, we can test 10500, possibly 10800 and 11k.
On the downside, the price may correct further towards the bottom of the range around 9650.
Good afternoon! I hope all is well!
Since the last update, bulls managed to cut through the short term resistances including the weekly pivot of 10k leaving no room for any short opportunities!
The current short term supports are 10300 and 10500.
Resistances lie at 10800 and 11k.
Until we break below 10300, my outlook is bullish!
I hope everyone is enjoying their Labor Day Weekend!
Not much has changed since last update except that XBTUSD has managed to correct upwards slightly. However, it remains below the weekly pivot of 10000.
The short term resistances it faces are 9700 and 9900 whereas the supports lie at 9000 and 9300.
The 4H VMA (Volatility Moving Average) is...
Bulls struggled to close above 10250, important level to open gates towards to 10500, possibly 10700.
The immediate resistance lie at the weekly pivot level near 10040 where bulls may face sellers.
On the downside, there is immediate supports at 9100 and 9400. If they fail to defend those supports, further downfall towards to the monthly pivot around 7200 is possible.
What an exciting ride it has been so far. I re-entered a long from 11344 and took profits at 12600 for a nice 100% ROE. I was afraid of a volatile wick down, so I wanted to secure the profits.
Moving forward, if the 2H support holds, I'm looking to go long upon retest. Otherwise short.
SHORT / 5x
Risk - HIGH
Entry: 142.1 and above
Targets: up to 137.1
RR of 3 - gain 17.8% or lose 5.7% of your investment
Rationale for the trade: 142.1 is a support/resistance flip line, so if ETHUSD does not maintain this line, I suspect it will test the bottom channel.