hedgewithcrypto

hedgewithcrypto Updated 

Ladies and Gents, I'm already holding short positions from previous posts (refer to links below) but will add bigger position if the bear flag triggers. The strong impulse down leg and consolidation is forming a tight bear flag pattern. Take profit shown at GREEN line. Reduced stops shown at RED line. Lower R/R at just over 1:1, but in my opinion is a...

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We could see price continue its upward momentum on ETPUSD. Price has been consolidating into a nice pennant formation and will hopefully start to squeeze a little. I will enter short on a confirmed breakout (around $1.29) with protective stops under the previous low ($1.18). Should price reach the projected target it will net in a 2.5R/R and 20% gain without...

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The larger time frame rising wedge pattern has been stubborn. But I believe it may have just made a lower high for the first time in a while which could signal the bulls are exhausted. I'm willing to enter in a SHORT trade to capitalize on this opportunity and will gradually enter into a position. Should we see a break of the lower trend line I will add to...

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Bitcoin is testing the higher time frame supply zone shaded in light blue. Price tends to touch these areas and fall away sharply and should keep a temporary lid on further buying interest for now. The rising wedge pattern is completing near this area as well. This is a bearish pattern . However, there is always the risk it can pop out the top first before a...

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We can see on the charts that ETC has just entered into a supply zone that is highlighted in blue. This area has previously seen strong selling pressure with rejection of wicks. I've also been closely watching the rising wedge pattern. We can see that price has been making higher highs, but making lower lows on the RSI. We have just seen a pop out the top of this...

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Tron has still not broken the consolidation zone on this setup and remains a valid BUY trade. If price dips below the lower horizontal line it will invalidate this setup. Reasons to consider a BUY trade on a confirmed breakout of the consolidation zone: Pattern complete with a defined consolidation zone Falling wedge pattern on RSI (divergence appearing) ...

hedgewithcrypto

So on the larger timeframe Bitcoin has broken out of the rising wedge pattern, confirming further downside pressure is expected. I'm now looking for trend continuation trades to ride the wave should it continue as it's the higher probability trade. A smaller rising wedge pattern has emerged on the lower timeframes that has peaked my interest. I'm waiting to see...

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Etherium has broken out of a rising wedge pattern on the 1-4 hr timeframes. With this in mind, I'm looking for another short entry trade on the lower timeframes for a trend continuation play. We can see price is now in a falling wedge structure and expect another drop before a possible breakout. This presents a great trade opportunity with the overall trend...

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Bitcoin is currently consolidating on the 1 hour chart underneath a falling trend line. Normally, I'm not comfortable taking a short position as price can easily break above. However, with Bitcoin's weakness and failure to push into higher highs, shorts are favored. We can see a few significant doji's are also starting to form. I love entering trades at the...

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We have another rising wedge pattern setting up on Etherium Classic. Reasons for sell trade: Rising wedge meetings rules Decrease in volume Break of the RSI trend line Bitcoin has similar rising wedge pattern forming Projected stop loss and take profits targets are shown. A move above 16.3 would invalidate this setup. Disclaimer: This is only my...

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I've set alerts and pending orders should Bitcoin take another dive down. I've been trailing stops from earlier swing trade positions which are now resting at $6,300. In line with the current down trend, I'm looking for areas to add to my position. We can see a bear flag is setting up along the trend line. A break here would likely result in a long red candle...

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Missing the entry on this rising wedge pattern. Already broken out to the downside. Might still be an opportunity to enter on the smaller time frames but will probably give it a miss. For those that are happy to accept wider stop loss, 2 potential profit targets are shown. Could be a significant turn of events in the US context that may drag down other Tech...

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EOSUSD is setting up a potential rising wedge pattern. I'm still in position from my previous trade analysis on EOS which you can view here: This is a great example of how I add to my position and ride the overall trend. Of course, with tight stops. Short target remains as shown. All this is happening while BTC is also forming a rising wedge pattern =...

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Keep an eye out for a triggering sell event on Bitcoin through the temporary "floor" at $6,200. Price has been steadily rising from the recent lows at $5,750 however this pattern is a BEARISH signal. We could see one more pump but be careful it, this could be a bull trap. RSI trend line has broken to the downside with volume steadily decreasing. There is an...

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Looking at the intra-day chart for EOSUSD, the price action on the retracement is starting to look weak. Could this be the bear continuation about to start? Price is slowly grinding along with no real volume or momentum. I'll be watching for a break of the trend line for a quick trade trade to the downside using STOP-LIMIT order. This way, price can keep...

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The power of trading patterns cannot be under-estimated. While there will always be a 'story' that follows the triggering of a chart pattern, solely relying on fundamentals to trade is not stacking the odds in your favor. We can see numerous bearish patterns that have all triggered. Being able to identify the patterns in the making and then executing, allows you...

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Etherium is looking nasty. Price has poked through and is now testing the DAILY trend line. Given the weak nature of the rally from the last re-test of this trend line, I'm expecting another break and close below. Targets are the 1.272% and 1.618% FIB extension should a break occur. If this really is the trigger point of the daily breakout pattern, the...

hedgewithcrypto Updated 

Looking at the hIgher timeframe on Etherium Classic, we can see a BEAR FLAG is starting to form. I'm looking for a swift clean break to the downside with Target 1 at the 1.272% Fib extension and a 1.618% FIB extension. I will be using a STOP LIMIT order to catch the fall. This trade does rely on how Bitcoin -1.00% reacts over the weekend of course. But with...