in my previous analysis i thought that we are in a rising wedge and actually we broke down of it but volume was not big and i changed my mind. so i draw a channel where you can make beautiful trades and actually we broke out of it few hours ago but still volume is not enough and i think we are going straight back to the channel.
so what we should do is waiting...
I prefer to short bitcoin when btcusdshorts trends upward and also when we are touching strong resistence. the market is really quite we are up to see huge volatility and it more likely be bearish rather than bullish because we are going up for 6 weeks with declining volume. remember that markets tend to show strength to camouflage weakness. this upward trend is...
as u can see 60% of bitfinex users are in shorts position. it means one thing: More potential buyers and they cant do anything about that because they should buy, they owe.
so i'm looking for a beautiful long position.
keep an eye on this opportunity.
i would buy right now befor breakout there is to scenario:
1- we break above the upper trendline: i will sell at target
2- we break down : i stop loss
trading after breakout is not right this time because market is so sensitive and we may reac target very very soon.
projection is not speculation it is a behavioral pattern that holds a lot of significance.
Now we reached first projection at 4300 level. a corrrection is needed at least to 61.8% fib level which it is around 5600 level after that duo to my last analysis on BTCUSDSHORTS in which i did a general elliott wave analyze on shorts, i excpect btcusdshorts fall to 24290...
may be doing TA on shorts for some of you guys is non-sense but to me is a very very good indicator of general sentiment direction. to be a profitable trader you should know the stream and swim on the river in opposite direction unless you will lose. so this the stream we are in bull market at BTCUSDSHORTS so we are still heading lower in BTCUSD. general trend...
i expect ETHUSD to meet 100 level i think it's a big psychological level. if we penetrate this line and close a candle below this next target would be 60 level. but it is fantastic to buy ETH at these levels. if you want to HODL your time is near. buy the dip and have fun. blood is in the streets of crypto.
Bitcoin and Dow has a Direct relationship with each other. because investor are hedging their dollars in stock and when stock goes down value of usd increase because people are selling stock to usd and of course it means demand for usd and consequently increase dollar index. and because we compare BTC to USD, Btc is folling stock indexes.
for 1 or 2 days i'm bullish and going long but as you can see in my Short percentage chart we get supported at blue zone area which is a very very important area. when see support in this area we should see a massive sell of but taking a breath is imminent.