cryptotraderog

cryptotraderog Updated 

Bitcoin is breaking out of the symmetrical triangle, and the potential target of this trade is 36.5K. There are two caveats to this trade setup that I do want to point out: 1. Volume, while ok, isn't as large as I'd prefer, and 2. The breakout candlestick isn't as strong/large as I'd prefer; I'd also prefer for the close of the breakout candle to be more above the...

cryptotraderog Updated 

Ethereum is consolidating in a symmetrical triangle after the most recent bullish rally. From a purely technical analysis perspective, there is a higher likeliness that price breaks upwards since price rallied into the triangle. That said, we want to wait for a breakout and confirmation before jumping into any trades. If price breaks to the upside, the potential...

cryptotraderog

Bitcoin is consolidating in what appears to be an ascending triangle. The bottom of the triangle seems to line up with the 200MAs on the 15Min timeframe at around 32K. If price retests this level and holds, then I will be looking to take a long trade. Always prepare beforehand so that you are ready when the opportunity comes, and if the opportunity doesn't come...

cryptotraderog

Bitcoin has had a nice rally, likely due to the anticipation of the conversation between Elon Musk and Jack Dorsey. We need to be prepared for a potential "buy the rumor sell the news" type of event, especially since Bitcoin is now forming a potential double top, with the neckline at 31.5K. The double top will only be confirmed if price breaks below 31.5K, and it...

cryptotraderog

Ethereum has had a nice rally since it formed a double bottom, congratulations to all my followers who took the long trade setup. It is now forming a potential double top, with the neckline at 1930. The double top will only be confirmed if price breaks below 1930, and it will be invalidated if price rallies above the second top at 2025. Why follow? 1....

cryptotraderog

Bitcoin is currently weak/bearish, hence the "short" tag. Bitcoin failed to maintain its strength above 31.7K and fell below the 200MAs on the 15Min timeframe. Overall price is whipsawing between 34.3K and 31K, without a clear direction, which makes trading within this range quite tough and dangerous. One pattern that might be emerging is a head and shoulders...

cryptotraderog Updated 

Bitcoin is testing the 200MAs on the 15Minute timeframe, If we get a strong bounce here, I will consider taking a long position targeting the previous swing high. Of course, it would be a good idea to take partial profits along the way. In the previous post, both trade setups triggered and both were profitable trades, so congratulations to anyone who took one of...

cryptotraderog

Ethereum has broken above the 200MAs on the 15Min timeframe. Should price retest the 200MAs at roughly 1910-1920 and successfully hold and bounce with strong volume, I will be looking to take a long position. The most recent swing high of $1994 would be a good place for take profit, though I will be taking partial profits before then. Hi guys, this is OG back...

cryptotraderog

This idea is labelled short to indicate that the current trend is bearish; this is not a signal to go short right now. Hi guys, this is OG back with another market update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below. Bitcoin price action looks very weak the...

cryptotraderog

After breaking below 32K, Bitcoin rallied off of the 61.8 Fibonacci retracement, once again showing how powerful the 61.8 Fib is when trading Bitcoin. Price is now consolidating sideways as bulls appear to have run out of momentum. Price is forming some sort of a horizontal flag/channel. If price breaks and closes above 33K, price will likely rally up, whereas a...

cryptotraderog

Bitcoin has broken below the horizontal support at 32K on strong volume and a large candle. In yesterday's post, I mentioned that I was looking for a potential long upon a bounce off of the 32K level, unfortunately price didn't bounce at that level. We are now trading below 32K and price appears to be consolidating. Below are the three potential scenarios I'm...

cryptotraderog

In yesterday's video post, I spotted a head and shoulders pattern that was breaking the neckline as I was recording the video. That short trade ended up being very profitable, going from $2118 to $2006, a move of more than 5%. The two areas for potential trades are the 200MAs @ $2090 for a potential short and the 61.8 Fib @ 1980 for a potential long. As always,...

cryptotraderog

After failing to hold the 200MAs at 33.8K, I mentioned in yesterday's post that I would flip to short term bearish if price closed below 33.7K. Upon the 1st candle close below 33.7K, price collapsed down to 32.6K. The two areas for potential trades are the 200MAs @ 33.6K for a potential short and the horizontal support @ 32K for a potential long. As always, we...

cryptotraderog

In today's post, I will go over TA for Bitcoin and the TikTok Crypto Ban. Bitcoin TA: In yesterday's post, I went long on Bitcoin upon the breakout of the DOUBLE W double bottom, where price formed a double bottom within a double bottom and the target of that trade was 34.6K, which has been met. Price is now testing the 200MAs on the 15Min TF as I am typing...

cryptotraderog

Bitcoin is forming a DOULBE double bottom pattern right now. The larger double bottom (in orange) has a neckline of 33.8K. Within this larger double bottom is a smaller double bottom (in blue) with a neckline at 33650. The neckline of this smaller double bottom has just broken as I am typing this. Scaling into a position here gives a better entry price but...

cryptotraderog

Bitcoin is in an indecision zone right now and we will need to see how price action evolves to see which direction the price is likely to head. What we can do now is to prepare for the possible scenarios so that we have a plan of action regardless of which way price moves. On the 15Min TF, price has broken above the 200MAs and if price comes back down to test...

cryptotraderog

In yesterday's post, I mentioned that it was important for Bitcoin to break above the 200MAs on the 4H timeframe at 36.3K. Failure to do so would likely result in a dump as price has been rejected multiple times from the 200MAs on the 4H timeframe. Moreover, should this rejection result in a close back within the triangle at 34.8K, then we will likely see further...

cryptotraderog Updated 

In yesterday's post, Bitcoin was consolidating in a horizontal channel and I entered a long upon a break to the upside, and that trade is 200%+ in profit. You can see my previous post linked in the related ideas section or my video analysis for a detailed view. Looking at the 4H timeframe, we have a few factors at play: 1. price broke out of the triangle, which...