Zulu_Kilo

Zulu_Kilo

We have still not quite dropped where I thought we would. This is NOT a good area for entering a position because there is still a lot of price discovery being made. It's kind of all over the place, even though it "looks" strong. My trading plan is to either enter into a long position at 10300-10400 or enter a short position from 10700-10800. Indicators are not...

Zulu_Kilo

As I mentioned in my previous idea, you'll likely get one more chance to go long from the 10300-10400 price range area. If you missed it the last time, I called this area perfectly for a bounce in my previous idea. It looks like we should make one more trip before heading out of this range. I would personally just go for the 10400 area, if you're a gambler, you...

Zulu_Kilo Updated 

The price action has been too slow here, local swing fib suggests possible SOW (sign of weakness) incoming before the rally... I’m guessing somewhere around 10420-10430 or so.. The price likes to fail out of local channel just to liquidate a few longs before going back up. If you haven’t been in this rally yet, think of going in at around 10420 which is close to...

Zulu_Kilo Updated 

Hey traders. I did call the 10380-10360 target to the tee, we have had a triple local bottom form which is bullish as I talked about in my last post. I still currently favor the 10750 target for now since we did seem to have a nice bounce on the bottom of what seems to be a large descending channel. We are also inside of a smaller descending channel which are...

Zulu_Kilo Updated 

So guys, made an almost eerily perfect call. We dropped exactly in the middle of 10360 and 10380 as I called it yesterday. I also showed the power of small timeframe RSI. Most of the time a very small timeframe is not useful at all for trading, but if you really want to see localized divergence on the RSI, the 5 minute TF can be helpful to give you an idea as far...

Zulu_Kilo

Retail longs still in control, this will undoubtedly cause prices to fall. Ultra small timeframe, you can actually see the bullish divergence between price and RSI. Sometimes small detailed timeframes can be beneficial... I am looking at the price zone around 10300-10400 to be a key reversal point. You can either short down to that price point or set your long...

Zulu_Kilo

So obviously the BitMEX news threw the market upside down... You can obviously never plan for stuff like that, you can only protect your trades and wait for a good set up. I think that we will still likely fall somewhat lower here. But there are two pretty strong resistance zones we will likely fall into to spur some buying and a likely strong rebound into the...

Zulu_Kilo

Well that was a clear bull trap. Had to cut the cord myself and take a little loss... It does happen. Retail and top accounts trying to catch a falling knife, there is still more drop incoming... Things are net long, expect further long liquidations to come.

Zulu_Kilo Updated 

Hey traders, we had a very positive move pushing through a strong resistance trend line. On the hourly we have pegged high into a sell zone on both RSI and Stochastic, retail longs are starting to pile up, this gives us a relatively good short trade probability back into the 1.272 to 1.618 swing fib retracement zones. A good TP for our short is 10650 price...

Zulu_Kilo Updated 

While I may have called the H&S structure and the 10800 area would have probably made for a decent short trade setup, I am patiently waiting for our Long/Short ratio catalysts to line up with our indicators. For right now, indicators are kind of in nowhere land, and top trader and retail trader positions are decidedly undecided. So your best and safest bet at the...

Zulu_Kilo Updated 

So yesterday as expected we did go up, Top accounts were heavily short and price popped up. Our current situation is a bit messy... Retail is more long than short currently to a 1.14 ratio, which is NOT bullish. So we do have the catalyst to go lower, what we don’t have just yet is the CAUSE. On the hourly, Stochastic pretty much bottomed, RSI is below 50...

Zulu_Kilo

Things are bullish right now. Looked a little shaky there for a second, I stuck with the trade, and rightfully so! Binance top account are majority short 53.3% to 46.6%, which is a bullish catalyst. (It means some shorts are about to get liquidated) Possible 11.2k with this double bottom formation, buying looks good right now.

Zulu_Kilo Updated 

Ok fellow traders, we have a bullish confluence on almost all of our indicators (my top 3 indicators are either blue or about to turn blue.) Those indicators establish the “cause”... The catalyst: Currently seeing Top Binance futures accounts favoring shorts over longs by 54/46, which will be the liquidation catalyst for going higher. Retail accounts are...

Zulu_Kilo Updated 

Have any of you ever wondered what the actual catalysts were to BTC price? Sure, we have all tried the good ol' "100 different" indicators that were all just not quite enough to give you a strong decision on where price was likely headed next. I'm sure by now that you've realized that indicator and candle trading is a hard way (if not impossible) to day trade BTC...

Zulu_Kilo Updated 

Telling you guys, stay short.. Don’t feed into this mess. We just had a big retail account short squeeze, now it has flipped and according to Binance futures data, it is small retail accounts that are more net long right now... BTC has been pairing with DXY (Dollar) as far as trend, and has decoupled mostly from the stock markets. DXY has made what appears to...

Zulu_Kilo

Guys, I knew that price was not doing what it needed to be doing yesterday. I called to short the very edge of the trend line. Price is going to have a very sharp and very sudden fall. Don’t fall for this. At this point EVEN ON A TREND LINE BREAK TO THE UPSIDE. DO NOT GO LONG. I will update short targets in a new idea shortly.

Zulu_Kilo Updated 

Fellow traders, good God BTC is throwing a LOT at us right now. We currently have a TON of patterns playing out currently. But I believe I know what we're likely to see... So there are two scenarios I'm currently favoring. Scenario 1: We break out of the descending channel in lower TF, and directly head higher. We could be at or around 11300 by this weekend,...

Zulu_Kilo

I am now down to a 50/50 chance that we do run into the 11k region. It was highly promising that by this weekend we would, but time is starting to slip away slowly but surely. Doesn't mean it can't happen, but I am switching NEUTRAL as this region is starting to show extremely high resistance to this uptrend. If the trend line cannot be broken by the close of...