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This will be the only chart you'll need if BTC prints a lower low.
We highlighted 3 areas from which we expect to see a reaction. The last time we did this, each area gave a bounce strong enough to close the trade in profit if you would have bought in the respective area.
On the 10th of Jan BTC fell under the 21 daily MA and on the 19th it confirmed the switch ...
This is our primary count for BTC at the moment but it can be easily invalidated if the pennant breaks up. The RR is very good for shorting right now because the invalidation is just above the C pivot , where you can switch from short to long. Or you can keep it simple and just trade the breakout.
On the daily TF the 50 ...
ABC with C as an ending diagonal or 123 (45) with the first wave of the third as a leading diagonal. Either way, we might have a god opportunity to short.
1st range: 168.5 - 169.5
2nd range: 173 - 174
Use thight SL because the hardfork could easily invalidate this.
This is a short that should not be missed. We have bearish divergences on the daily timeframe and the price is at the 0.5 retracement level. It could go up to the 0.65 retracement level, where is the resistance of the ascending broadening wedge so ladder your shorts carefully.
We've said this many times, we buy falling markets and sell rising markets.
Price action indicates that we could go up to test the support of the descending triangle which is exactly at the 0.5 retracement level of the last swing high to the current swing low. We love to trade the 0.65 so it's a good idea to have some orders there too. In case it starts falling ...
Where can you buy ETH again if it creates a new low? In this case we believe that the bottom could be somewhere between 151 and 135 (with accent on 135). There are three exact prices at which we can place orders: 151, 144 and 135, they are only based on fib relationships which we consider to be far more important than classical support and resistance levels.
BTC finally broke out of the descending and started a new trend. On the long run we are bullish but first we need to reach some key levels. We expect to see a bounce from 5177-5300 area and maybe the end of the bear market somewhere between 4374-4261. If the second area doesn't hold, the last area 3252-3064 has the highest chances to hold.
The current price action is not bullish at all but on the contrary is very bearish especially if the daily chart closes under the pink trend line.
Once again we can see the power of fibs. The price got rejected at the 0.5 from swing high to swing low, approximately at the same level as the 100 Daily MA. According to our fib based TA the price needs to break a ...