I have never seen this happen before. Its happening with all the altcoins that typically follow BTC. Very very strange but, hey, its halvening.
This is not trade advice. I am completely biased. I started mining monero 1-2 months ago, actually after a virus infected my computer with an XMR miner and it led me to investigate it! Crazy story but I fell in love with this coin. It has EVERYTHING i believe a cryptocurrency should be. Key points on this video: xmr - history live since 2014 10x potential from...
The previous move down was NOT the market move. We are still trading in the zone. The previous move down was only a gradual decline to retest local support within the current trading zone (roughly 8500-9000). So, what did that tell us? 1) We still dont have enough bearish momentum to expect a full down trade. 2) If what just happened WAS the bearish move, then we...
So previous trade setup was: SHORT: 9190, 9290, 9340 SL: 9412 (slightly above the 2019/2020 ATH downtrendline which was around ~9350) What happened? Orders filled. Started dumping. Reversed and pumped. Reached the ATH trendline and BROKE it, printing 1h and 2h candle close ABOVE it. My previous trade was heavily relying on the ATH downtrend line hammering it...
I closed my previous M-formation trade as it appears to have been invalidated with sideways movement. It still could be in effect, I just want to go with a new trade setup. Now expecting a third test of 9000-9200 horizontal resistance along with the 14k-10k longterm trendline which will be around the 9350 area over the next 24-48h. This is a severely difficult...
ETH bounced on ~$200 support zone but not very hard. Right now on 3H chart its sitting inside ichi cloud, below 13SMA, and figuring out if its going to break below or stay above local trendline (green dashed line). Very finnicky area for it to be in right now with no clear signal which direction its going. Would pay close attention to these. $200 support local...
Chart says it all. On Daily, and 4H there is a clear M-formation (easily visible on 4H). If we continue this formation we'll have to go to the base of the M at the very least, which is around 7754. After the last leg of an M formation, it will rise up to the M neckline again, which is around 8410. From that point the formation and reaction has completed, and it...
Just scanning multiple timeframes and believe we have a near perfect M-formation on the daily.
I believe what we just saw was a pretty phenomenal DEAD-CAT-BOUNCE . On top of some heavy exchange manipulation to liquidate a massive amount of shorts that had been piling up over the past week (thats how they make money, trading against all of us). Exchanges dont want to pay you, they want to take your money, so allowing you to short and exit for profit is bad...
Price GOES UP equal to the recent dump. NO VOLUME! I checked ALL exchanges. How can price go up when relatively nobody is buying???? We just saw one of the highest ratios of shorts to longs in bitcoin history. ....and price is going up??? This is what the exchanges are doing to their own customers. Manipulating prices to liquidate positions. It is their #1...
Looks like this is the swing trading range now. I think it will be very temporary. Suggest only shorting from top of range, as it can fall out the bottom at any time. Might make for a few good swing trades, maybe we get 2 waves before next movement. Enjoy! 6779 -> 6690 (As always, each wave typically narrows price range so short/exit accordingly)
Lets see how many people learn from what just happened a few days ago.........because its happening again. Exactly the same pattern. There is one bullish sign in all of this: $120m USDT just got printed to "replenish inventory". However huge bear signs here: 55-60%+ of open positions at $200k+ size are shorts. Usually market balance is when 40-45% are shorts....
Will soon see which way it breaks. Trading range tightening fast.
Look at 1h chart from march 28-30 We are literally repeating the same pattern. So will do a short from 6884 with tight SL, and long from 6565. Less risky is to just wait for it to drop and long the bounce. Of course, given the situation right now, it might not bounce....but I am still hoping for 8k supply zone test before retesting 4-5k lows.
Looking at this for next trade. The 2h 200sma comes in around 6980 so will begin shorting from there up to 7090. The 7060 support layer will no doubt be tested and show s/r flip to resistance. Bear scenario: Overall this is the long expected downtrend we knew was coming. Bull scenario: This was a retest of support before heading to 8k supply zone. BTC is...
Typically we see up to 50-60% retracement bounce. Whats going on here? No bounce at all? Look at these wicks on 30m chart. Obviously we see some downward rejection on the dump. Thats normal. However the very next few wicks are showing price rejection on the bounce up?! And it literally bounced like a brick??? (eg: no bounce...) Looking at this I would say we are...
I have a slight feeling we are about to see a fake pump then dump to break 6500 support zone. 5800 and lower incoming. If it fails we'll bounce and see 7k. Just a few hours ago the % of long/shorts was 70/30 and within a few hours it flipped and is now 50/50%. I havent seen it change that fast before. (Usually there are always more longs than shorts, by about 10-20%).
TRADE: Short ENTRY: 5900+ SL: +1.5% TP1: 5600-support TP2: 5400-support MACD: bearish 2h, 4h, D (bullish 15m, 30m, 1h) RSI: pretty neutral AO: bearish 1h, 2h, 4h volume: bearish Shorted on friday/saturday at 6340-level 5x leverage 10BTC. Saw great drops all weekend. Exited a few at drops (5700-5800) and re-entered around 5900-6000 for some nice profit. Market...