Now that I have your attention, I'd like to share some real analysis. Nobody is shorting anything haha
We've seen this price action before, probably a few years ago when BTCUSD would breakout, ETHUSD would be the clear winner.
We BLASTED through the $252 resistance and luckily our Trend Accelerator indicator called a Long before the breakout....
We have been monitoring FX:EURUSD very closely because it was approaching a very important resistance level at around 1.14225
We broke it a couple of times in the 1hr chart but failed to push higher. On July 17th, our indicator signaled long and we took the trade.
We're currently sitting very comfortably +100 pips...
BINANCE:BTCUSDT has been in a tightening range for too long!
As we have seen in the past, the longer BTCUSDT stays in a tight range, the more explosive the move. Our indicator printed a short, and has us in a comfortable position with a nice R:R.
My gut tells me that the break will happen real soon and when it does, prepare for a $1000+ candle....
I know we are all patiently waiting for the king BTC/USD to make it's move but XLM/USDT is looking pretty bullish.
Technically, we smashed through resistance, backtest it as support and we're looking for the next level as a target.
At the same time, this new indicator I'm using has been smashing it with XLM/USDT. It printed a Long signal at the close of...
The moment I've been waiting for! The longterm trendline has finally broken and now retesting.
Short Entry: 2927sats
Stop Loss: 3120sats
Targets are visible in the chart. This is strictly level to level trading. I'm taking this to hedge my BTC short, because if Bitcoin Dominance increases, alts will most likely fall.
Let's see how it pans...
Bitcoin ran up to the weekly descending trendline without a pullback.
What goes up must come down and after a 10%+ pullback, this 4hr chart looks to be forming a nice bear flag.
Take Profit: $7500
Here's what we know:
Halving is in 3 days.
Long Open Interest is very high
Key resistance level is 10,500
We've ran up for 8 weeks straight.
Who's got the most to gain when the scale is tilted to one side? The exchanges do.
So putting it all together, I think come Monday, it will be a sell the news event.
It looks like we are forming a potential inverse H&S:...
Potential Head & Shoulders pattern on the daily.
I have 3 tiered positions:
22% at $8,411
33% at $8,311
45% at $8,211
My play is off $8,200 resistance and if the theory is invalid, my stop is right below that level. The range is too wide and my bias is that we will not able to break through 10,500. We're probably going to set a lower high, and potentially roll...
Maybe a bit premature on my entry here but I feel like the risk/reward is there to take this play.
Descending triangles have a higher probability of breaking to the downside, since support keeps getting chipped away.
Link ran up so fast that it failed to stabilize support levels along the way, so there's a lack of structural supports nearby....
Real simple setup - level to level trade.
To be quite honest, I may be a few days late but the setup is still there. Daily resistance has been broken and candle has closed for multiple days.
Stop loss a bit under support, sell target a bit below resistance.
Let's see where we go.
Happy Trading! BINANCE:TRXUSDT
Ok, so shorting the fastest appreciating asset on the planet isn't for the faint of heart.
But hear me out.
We are currently on an uptrend across multiple timeframes, BUT, we are getting real extended on the 4hr TF.
We're approaching our key resistance level at $9200, and we haven't seen any sort of pullback on the 4hr TF.
So, I'm thinking there is a top...
If we look at the daily time frame, we can see that the uptrend is still intact. We've had a healthy pullback and we're trying to maintain a higher low above $8,200. So my bias is as long as we hold this level, we can potentially form a bottom here and push towards resistance. It just so happens that $8,200 lines up with fib level 0.618.
So, two scenarios: