BTC is testing POC of a 3-week balance. At this point the directional bias is neutral. I automatically short the micro bull-bear zone, and long the range support. Middle of the range is of no interest to me at this point. POC of the range can be just the line in the sand where the price goes ranges around it, but at any time it can become a point of directional...
ETH is testing the zone that was a temporary support, then became resistance, and now support again. This is a very important line in the sand for Etherium. There will be either a tradable reaction and dive below it or a reverse of the whole drop. Short term goals are on both sides are on the chart. All shorts should be covered. Longs with volatility stops are...
Markets are fractal. This is one of the rules I learned about trading. Patterns are everywhere in different markets, different time frames and historic times. In the comments, I will post a picture of the Bitcoin market in 2018. I dont see a reason why we can take the same path. I like keeping a few scenarios in my head and this is one of the solid ones, in my opinion.
Bitcoin at the bull/bear Zone. What to do next? I expect the price to rest after in impulse move down to the main support zone. This zone has been a good support before, but its much weaker now, as whoever was defending it is already out of here. Its no longer a good zone to Put Longs. Yet this is not a good zone to short into either. NOw we have to wait for the...
Taking long at the support zone after a failed breakdown in the opening range session and a nice bull run in RTH. Taking a pullback continuation trade with stop loss at 72.5 and target at 94. A breakdown below the zone will change my short term bias into neutral-bearish
Russle testing micro bull/bear zone. Automatic long set up for me after a nice bull run during RTH. Breakdown below and overall market weakness with change short-term bias into neutral-bearish.
#XBT Broke down from a multiday range on good volume. This is a pullback continuation setup. These trades often get stopped out, but I am trying to be as conservative as I can. Please do not use more than 1.5% of your capital on this trade. If the price does not reach your short limit order, let it go, do not chase this trade. Many expect a bounce of $9400-9000...
If it looks like Head and Shoulder, smells like H&S, and liquid like H&S, it must be Head and Shoulders. A bit weird angle, but you get the point. The target is on the chart. Be ready for a dive.
Zone 3 is a great short opportunity with a tight stop and a high risk/reward profile.
CME Bitcoin showed a nice reaction from buyers. Time to test the MId range resistance zone from below. The arrows pointing up show Higher Lows with every test of the line. I expected the price to go deeper down into the zone, but this is definitely a good sign for longs that the price is making higher lows. Now we will test the mid-range and there we will see who...
The first test of the resistance (red) zone was pretty weak and the next test has many chances in breaking out. Most likely the pullback was due to the partial long coverage. GOLD IS IN Uptrend. All shorts now need to be careful.
The current volume profile shows that the distribution is not finished yet and might need another leg up where it will form a double top in the H&S Pattern.
In case Bitcoin break-out the current range $9000-$15000, I think we are going to have a complex head of the head and shoulder pattern to distribute the accumulation from the bottom range. But its only if we break out and do not drop below $9000
ES_F testing the bottom of previous range
Since July 2018 Bitcoin is in the range of $9000-13800. At the moment Zone 2 is a strong resistance that rejected the buyers twice. If this resistance holds then we will most likely head straight to zone 4. Zone 4 has been already tested and gave a nice bounce meaning it will less likely hold and provide tradable reaction again. If the price breaks below Zone 4...