cryptotraderog

cryptotraderog

MARKET OVERVIEW Price Action: As BTC made a new ATH, ETH failed to break above the previous high of $759, showing signs of weakness. Chart Patterns: No significant chart patterns. Areas of Interest: The area(s) of interest for us is the highs of $759. Once price reaches one of our areas of interest and gives us a valid entry signal, I will update the trade,...

cryptotraderog Updated 

MARKET OVERVIEW Price Action: Bitcoin saw some volatile price action yesterday, with new ATHs and flash selloffs, creating panic and fomo. Many traders in the chat were in a state of panic. We have established a new ATH @ $29.3K, breaking the previous ATH @ $28.4K. We are in dangerous and volatile territory as price is just as likely to pump as it is to a...

cryptotraderog Updated 

MARKET OVERVIEW Price Action: After reaching breaking above the high of $748 and creating a new high of $759, price has come back to test the 200MAs @ $729, and is now bouncing off of that level. Chart Patterns: We are moving up an upwards sloping support trendline. The 3rd touch of the trendline also coincided with the 200MAs. Whether this trendline holds or...

cryptotraderog Updated 

MARKET OVERVIEW After BTC established a new ATH @ $28.4K, price retraced to a low of $25.7K, and is now back up @ around $28K and consolidating near the highs, indicating a high likelikhood of a pending breakout. Therefore, we have a slight bull bias right now, but should price fail to break $28.4K, we need to be ready for a potentially big correction. The...

cryptotraderog Updated 

MARKET OVERVIEW Price Action: After reaching a high of $748, price retraced to the 200MAs @~$700 (where we took a long), and is now back up consolidating near the highs, giving us a bull bias. Chart Patterns: We have an ascending triangle pattern, which typically breaks to the upside, giving us a bull bias. Areas of Interest: The area(s) of interest for us...

cryptotraderog Updated 

Market Overview ETH has pumped from a base of $620 all the way up to a high of $740, a 20% increase, catching up to the BTC pump, with ETH/BTC pair rallying from a low of 0.02275 to a high of 0.02766. Price has since started to stall and retrace. Let's see if ETH has juice for another major bull leg up or if it has formed a local top and will correct /...

cryptotraderog

Market Overview After BTC established a new ATH @ $28.4K, price has retraced and has hugged along the 200MAs. If the 200MAs hold, we can expect another leg up, but if it doesn't, we might have a pretty steep fall as we haven't established many levels of support on the rapid run-up. Make sure you have a strategy ready should we have a steep fall so that you...

cryptotraderog Updated 

Market Overview Bitcoin has pumped massively this month, especially in the past few days. In previous years, Bitcoin has also tended to pump in December in what some call the "Santa Rally". Historically speaking, this rally in December has been followed by a correction in January, so it's important to exercise some caution. In fact, it would be very healthy to...

cryptotraderog Updated 

Market Overview After a few days of mostly sideways price action as Bitcoin was rallying, ETH finally started to catch up and pump as well. BTC and ETH are highly correlated, but sometimes one leads the other, giving us an opportunity to enter a trade on the laggard instead of chasing the coin that has already moved, which gives us a much better risk reward...

cryptotraderog Updated 

We had a very successful long trade on Ethereum yesterday that gave us almost a 5:1 risk reward. Meaning if you risked 1 btc, you could’ve made almost 5 btc. If you missed yesterday’s trade, here are the setups I’m looking at today Three potential trade setups 1. Go long on retest and continuation of 200MAs @ 630-635 2.Go long on successful breakout and retest...

cryptotraderog

Bitcoin has been on an absolute tear this week, congratulations to everyone hodling BTC. For those looking for an entry/trade, waiting for price to pull back to the 200MAs for a successful retest can be a relatively safe way of entering. While price can definitely continue to run up from here, the risk is higher longing at highs.

cryptotraderog Updated 

XRP is exhibiting bearish bias as: 1. Price has once again fallen below the major S&R flip zone as price failed to hold above it on a retest 2. Price has once again fallen outside of the channel after reclaiming it Of course, exercise extreme caution on xrp as the situation and market sentiment can switch on dime.

cryptotraderog Updated 

SHORT TRADE SETUP : FALSE BREAKOUT To open a short position, we are waiting for price to break above the horizontal resistance @ $670 and then fall back down. Trade Entry Confirmation: 1. Price Action: Price breaks above the high of $670 and then rapidly falls below $670, forming a bull trap 2. Candlestick Pattern: A breakout candlestick (candle close above...

cryptotraderog

Long Trade Setup: Retest and Continuation To open a long position, we are waiting for price to retrace back down to test the 200MAs and then continue moving up. Trade Entry Confirmation: 1. Price Action: Price needs to move back down to the 200MAs and bouncing. 2. Candlestick Pattern: A bullish candlestick pattern such as a bullish engulfing candle or a...

cryptotraderog Updated 

As Bitcoin price is again moving up, we will be looking for it to go up to test the ATH @ $24300. If price reaches the ATH, we will be waiting for two potential scenarios to play out to look for a trade entry on both the long and short sides. LONG TRADE SETUP: Breakout & Continuation To open a long position, we are waiting for price to break the ATH, move back...

cryptotraderog Updated 

Long Trade Setup #1: Retest and Continuation To open a long position, we are waiting for price to move up a bit, then retrace back down to test the 200MAs and then continue moving up. Trade Entry Confirmation: 1. Price Action: Price needs to move up enough to create space between price and the 200MAs (projected to be $605-$615 zone) before moving back down to the...

cryptotraderog Updated 

Long Trade Setup: False Breakdown at Horizontal Support To open a long position, we are waiting for price to hit horizontal support @~$551 and then bounce back up. Trade Entry Confirmation: 1. Price Action: Price breaks below the lows $551 and then rapidly moves above $551, forming a bear trap 2. Candlestick Pattern: A breakdown candlestick (candle close below...

cryptotraderog

As Ripple / XRP is the major news these couple of days, I expect a lot of people are concerned about how this will impact not only XRP but also the broader markets. I wont go into the context in detail before, but rather lay out two potential scenarios and trade setups purely from a technical perspective. We have broken down below the 61.8 Fib retracement and the...