Only timeframe I'm trading is the daily, and the 4 hour for entries/confirmations. Macro head and shoulders and descending triangle. Stay safe. We could retest $34,555 and even higher but I'm thinking in the next month we'll see a resolution from this range to the downside and retest the 2017 ATH ($20,000) and if that fails we will go much lower.
Bulls had their chance to breach the trend-line and head towards $40,000+ but they are weak and whales want lower levels. We haven't even retested the previous ATH from December 2017 and bulls are ready to call for $100,000. More max pain is coming 👍
Good evening, please hit that like button or leave a comment to show your support 👍 Daily momentum oscillator pointing down in confluence with closing outside the uptrends support line tells me some volatile days are coming. Stay safe 👍
4 hour just closed below the uptrend support. Closing below $33,000 would likely start a bigger sell off. Daily chart next.
My last few posts have been successful and we've failed to break resistance and rejected with volume printing a 3rd validation touch on the trend line (downtrend) If we test $33,000 once or twice more it likely won't hold causing panic and a bigger sell off. Stay safe out there. 👍
First of all, please hit that like button to show your support and also if you'd like more content posted this week 👍 This chart has been inversed with a potential bar pattern attached, sometimes I like to do this to confirm my bias or make sure I'm seeing things clearly. (trading is all psychological after all)
Bearish engulfing candle confirmed on the 4 hour close and before hand rejected the 200 day moving average 👍
Hello traders, We've now seen a nice rejection from the downtrend that started on June 18th, and confirmed a 3rd validation point and are now just above $34,000. If this continues we probably see $32,000's within the next 24-72 hours depending on how price action develops, this is also where 10x longs get liquidated and we haven't seen a sell of since June 29th...
Either my bias gets confirmed here and we reject the downtrend or I'm wrong, get stopped out and quit trading/posting for at least the rest of 2021.
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. The last several weeks have been incredibly tricky in terms of technical analysis and finding a clear edge, why? We've seen fake outs to the...
The 4 hour chart says it's possible to see more upside, will be watching this chart closely for confirmation or invalidation.
Hello traders, I'm usually posting bearish thoughts, so thought it was only right since I'm a trader to start posting the bullish side of things. The 4 hour chart is showing strength and is also oversold at the moment just waiting for the bullish momentum to kick in and take us higher. Invalidation below the channel / uptrend trend-line. Plan your trade and...
If this happens my last head and shoulders idea will be invalidated, and I'll then wait to short again once things are overbought.
Hello traders, After taking a few days off I'm slowly getting back into scalping. Here's a trade setup I'm not personally taking quite yet but the chart says its possible so I'm posting it. Clear invalidation and confirmation points, stay safe and have a good rest of your week. 👍
The chart is showing a possible head and shoulders 👍
Good morning traders, The last time bitfinex shorts we're this high was late June 2019. We're currently sitting just above support $30,000 and have seen a shooting start on the BTCUSD SHORTS chart which may indicate a messy weekend and support lost. Support levels below: 1) $28,888 2) $23,888 3) $19,999 4) $14,000 5) $12,500 6) $10,500 7) $9650 Not...
Rising wedge has broke to the downside going into the weekend with bitfinex whales loaded up on the short side and the measured move would be around $28,888. (momentum oscillator for reference)
The rising wedge has broke to the downside, and finex whales have loaded up their shorts and seems to be ready for distribution going into Asia's trading session now that the daily close has happened. Possible scenario with a bar pattern, may not happen but possible. Stay safe and have a good weekend.