Sketch of SOL Watching for H&S over weekend to complete then break down to Entry Point of interest @ $135 support (Ascending and Horizontal)
This is looking like an accumulation phase. Typically we see a dip around now - expecting bounce here to $56,200 then drop Sat/Sun. - Short with trailing stoploss from $56k - Long at bottom on ALTS (hard to call exact point so will catch the bounce) Best, Hard Forky This failed to materialise but pretty sure I just went a little early - tricky at these 1hr...
Final expected path through to target short - may add at break of this support. If we break up above $47k then BTC short will close in profit and expecting long target of around $55k. 70% likelihood to drop. Best, Hard Forky
Ok, spot on on timing & price but I was not expecting that big of a reaction down through to supporting Fib (not on this chart). - Missed that short exit while at work :( - Possible deeper dip to Scenario B - 30% which would offer a good buy entry - Due to big reaction down will review plan for next 3 months when thigs settle down - Expecting Grown up markets to...
"break of $50k to new ATH" bullish narrative being pushed is sketchy. The market will show the way but expecting this rally to fail to reach new ATHs. Not always perfect but here is a history of my Sentiment and Trading in last 18 months and predictions through to the end of the year. -- Prepping for SHORT. After the market targets stops of late longs (with...
Blow off top expectations at $60k EOY Expecting INDIA/Japan to lead the way
No need to trade much recently with swing successes so formulating a 30 day plan to keep thigs interesting while we wait for the close of the calendar year. Short play if BTC is rejected at around $53k - 20%+ drop to support within expected market structure makes R2R interesting, especially on ALTS. Scenario Opportunity: Many retail folk were late to the sell...
Concluding market structure before new ATH. Based on historical accumulation structures commenced in May and I now forecast it to conclude at end of the year. Neutral to Long: I'd expect this to form above or below the major downward trend line - Possible final push up in coming days. Unclear if this is viable but expecting the structure to form at final high -...
Long to the line. Just shy of $49k target and entered profit taking zone. - Rising wedge looks like it can't maintain trajectory. ALTS look like they are struggling to break highs in the last couple of days. If this dumps it could be quick - $41k to $38k. - Long case would be possible retest of Moving Averages and will revaluate if $50k can be...
Whether it was a falling wedge or pennant, BTC has broken what I see as resistance, got above a key fib, broken up on the RSI and momentum is shifting in the bulls favour. MACRO Driver: re: Ebay This week I met with both a Director at a major global automotive company and a Director at a domestic tech retailer. Both sighted demand has dropped slightly but the...
Either: Red - Retest of broken support - Bearish Green - Break back up into falling wedge - Neutral/ Bullish White - Possible 10% sideways Chop - Bullish Accumulation Pushing up against a fib level & 21 DMA, Possible Bearish Pennant ... still a lot of work for the bulls. Looking for a $33k break and hold. Best, Hard Forky
Continuing to watch for a breakdown but now also looking at a potential move up from this support to $35k to the 50 Day Moving Average and ascending resistance from the breakdown 13th July - 10% move. Supporting Evidence - In striking distance and breakdown yet to be tested + ALTs Continue to test the 50 DMA in the last week - This commenced with LUNA, ATOM,...
Look back on Link TA work last year. Trend lines and support / resistance look as relevant today as the were then. What I see is a break of support at $20 (circled in red). Two retests then a break down. --- Support at $12, $10, $7.3 Best of luck if holding long term. If it breaks down I would expect the $10 region to hold and look to return to current prices...
Remaining Neutral but after the failed higher high and ALTs testing the 50 DMA range I took profit on all long positions at the break. Perhaps this level will hold but BTC now has the possibility of a more bearish scenario. Considering: 1. - Dip to take out local stops at $37k and return to the upside. Coincidently this will coincide with the Greyscale release...
Quick look - Possible retrace and break up in a few days. Not feeling it with Eth, into the 50 Daily MA and looks bearish to me. This may support the 5th wave Elliot Theory - this is conflicting with my other plans. B, HF
Failed to get the higher high. Still sitting on top of break. Short term Correction might be in play after this mini ALT run. Could be dramatic with a target of $27k Best, HF
I haven't formulated an idea for lower prices and remain objectively neutral/long. Not because the market can't break downwards but I am personally yet to identify a viable structure that will drive price lower. Mapping and overlaying some typical structures at our current price range with line-chart. A lot going on here but basically it...
Extending on the bottoming structure Idea and kicking the tyres on a plan for 2021 to share with a pal. Always difficulty to forecast this far ahead but based on market patterns I am leaning towards the boring Scenario B - Long/Neutral - Scenario A - U shaped recovery back to ATHs - ALT Moon. This would need a catalyst to drive this e.g. major market /...