Based on review of several assets, I believe that BTC will not hold the 23400 level and will bart down to 23000 potentially, while holding the upward trend.
BTC prints a rather bullish formation but there is lots of broadening. If you look at 3m you can see 23k rejection potentially forming. Hold a short from high that goes flat on SL and be prepared for a move in either direction around 23k and the $400 points but there is a clear bearish basing occurring in the tape. Major problem with this idea is that a swing low...
Nailed a bunch of profit on the earlier long idea scalping it both ways. ADA seems to want to drive down. BTC I see a possible long but there just isn't any money in the market so I think we see a hard drop here. Short it around .5 to .501, hit it on a breakout above .501. Can wait for a good confirmation but there is a downtrend already.
ADA appears to have a nice swing low breaking below the channel, and then reversing to show .5 as support. BTC is holding above 23k. Looks long short term, potentially testing towards .54. Just watch BTC if you long it. If ada can't hold .5, hit it.
ADA seems to have broken an upward trend at long term resistance. If NDX and BTC don't clear resistance, ada will likely fall back into the wedge. Shorting .52 down to .47ish w/ sl at .53. On the long side, if it does break through resistance, it'll likely clear into the .67 area. I'd probably scalp it and watch it closely as it's a bit of a critical area and...
Eth looking like it's forming a triple top around 1270. I would expect it to play into a triangle and make a clear breakout either towards ~1400 or down towards ~1180, likely to the downside. The NDX is looking very strong into the weekend so I don't see a clear direction. Markets have been behaving strangely. But I would be more prone to expect the downward...
ETH/BTC/NDX are correlated. NDX futures (NQ1!) just broke-out to the downside of the channel. If NDX had held up, I would be on the sidelines for a day or so while markets figured out what they were doing after the CPI print. The downside breakout gives more weight to the apparent trend reversal so I'm short with a modest entry and tight risk control. SL 1105 but...
ADA appears to be retesting long-term support as resistance and appears to be ready for drop. All depends on BTC as it's testing bottom of channel and if the CPI info isn't already priced in, it'll drop. But if it rallies it could carry ADA back up into the channel. Stay safe.
If the 13th at 8:30am shows 9% inflation which Bloomberg is expecting, then the message of accelerating inflation in the face of large rate hikes will set the markets on another sell-off, and cause the Fed to increase their hawkish stance. CPI went from 8.3% to 8.6%. If it's more than +.3% then we'll have a big problem. SPX may break the descending channel and...
ADA scalping week continues. ADA appears to be trading in a descending triangle. BTC is trading into a symmetrical triangle so may push ADA up and out of the channel. If ADA breaks out, go long there with the BTC correlation (.7) as it will run up with BTC to test 23k. If BTC breaks to the downside, you can probably trade the short into the bottom of the channel
Trade the price, don't predict it. I guess we'll either retest ~20k or 23k. Looks pretty bullish so I would expect this to go to the upside, but competitive assets like BTC behave unpredictably.
Had some more time to analyze the price action on ADA. I think that we'll see a total reset down to .442 based on the structure of the price action. Appears to be a bear pennant. I wouldn't short this personally, but I will eye long entry at .442 with tight stop loss. If you get the fundamentals, you'll know that this is basically the "Google" of l1s. Haskell,...
We've done well with ADA so far this week - I'm up 27% on my futures account. There is no clear formation to trade at this point that I can see. I'm probably going to wait for a retracement down towards the 0.453 area. I'll sit with the data a bit today and see - I would recommend that we stay on the sidelines for a bit. I've been saying for a while that BTC will...
I called a long on ada earlier and have ridden it up to here but the channel is a thin and brittle one. This may not hold up so well, and there may be a heavy retracement. A lot of this will likely be BTC correlates but the landscape is nice for ada scalping. Not totally sure what to do at this point - the thin upward channel is not a sustainable pattern and...
I've traded into a long on ADA expecting a breakout. Will be invalidate with very small loss, or else large upside. Good luck. Will continue to scalp ada this week.
I can see some recurrent structures in ADA/USDT pair that indicate strong price action to the upside may be incoming. I will scalp long in the channels towards the breakout to make hopefully all of the upside without much risk, and potentially regaining upside on the same movements twice. I want to sleep this week, but for me, this is ADA scalp long week. Fork is...
I'm trying to aggressively take profit and not loose so I'm eyeing this signal in tron here as a potential retest, before nosedive. I've closed my short position for now taking cash off of the table, when things get clear will re-enter.
1000 points away from the pre-covid-crash level, the TSX has printed a broadening wedge and broken through it. It's now travelling down quickly in a parallel channel. Outlook not so good. The broadening wedge is a rare and highly predictable indicator of a reversal of trend. Time to cash out and sit on the sidelines. This is more of an exit point than an entry point...