• Monthly: Neutral • Weakly: Bullish • Daily: Bullish Cardano — $ADA — $ADABTC ••• Trading System in use • Kurutoga Histogram • RSI Delta Map • RSI Delta ••• Check my other published scripts: www.tradingview.com
Start of another weekly uptrend. This time look like legit breakout againt Bitcoin
Basically avoid stonks. Stick to gold (or bitcoin) for next months/years.
Check video for my thoughts
Check video for details on my thoughts.
Check Video for Details
Gamestop seem to have entered into an accumulation tranding range. Green range looking like great buy range if that are gets revisited with secondary supply tests.
Grayscale's Bitcoin Trust is offering some interesting correlations wiht those GBTC vs Spot (Coinbase). 🤔
Clouds showing consolidation range before resting ATH just like 2016 (took +200day). If you see gurus with huge following shilling BUY December 36k CALL options you should be aware that the likelyhood of them expiring worthless is significant. As time goes by open interest on those Options will rise and odds will favor greatly the SELLers of the Call Option....
SPX currently in between a consolidation price range. Next support around 2800 and 2900. seeing strong bounce at this support range is likely to get SPX into new ATH. Structurally speaking the bounce we observe from the dip is very aggressive. There is some resemblence with Oct 87" and July 90" dips Invalidation of bull case means closing bellow 2800 levels
Comparison BTC and ETH pairs between BitMEX, Deribit and FTX Perpetual Swaps vs Coinbase (Spot) price basis. We can observe an on-going basis pattern currently trending positive (trading with premium). Positive basis is leading information towards funding rate becoming positive as well. Positive Funding rates means Longs pay Shorts Longs paying shorts mean...
Similarly to Bitcoin. Decided to take a short on Ethereum based on weekly trend. To be honest I'm slithly less confident about this trade. Chances of getting stopped is somewhat high due to trading range conditions but I am ok with the risk. I find strange we didn't see any strong volumes at the top of the trend. Monthly trend looking up.
Taking short swing trade on Ethereum based on Weekly trend reversal probability. Despite the good odds of a new trend. Don't disregard the fact we are in very choppy trading range and volume keep declining so chances of getting stopped are also high. If way to many people take short... chances is that I will get stopped. But that is fine, taking calculated risk.
Discussing the criteria for this Bitcoin short trade based on Weekly chart.
Taking advantage of weekly Short flag. Placing stop at the flag level and targeting 7.1 range (non-strict) or until otherwise trend signal a reversal into an early TP. Market is very choppy so there good chance this can be stopped out. 8.5 is also another stop/traget range.
Weekly and Monthly trends are visibility bullish. 3M chart also suggest reversal. The case for ETHBTC breakout is strong. Which implies that most alts may benefit from this trend as well (and vice-versa) The demand trendline acts for the moment as a demand basis. Once price break and close under it. It's time perhaps to cut into half position or remain...
Some important resitances range from 10 to 11.6 range that will flip support once broken. Overal monthly trend is clearly showing strong signs of bullishness. I think we are in bull marker (happy to flip view once i get Monthly and Weekly trends invalidating it) but as of now. DCA hodler will be happy to know their weekly/monhtly position building will compound...