Hi everyone!
I did the high time frame analysis on BTC (same as ETH).
I think we have not seen the bottom yet.
Why?
It is widely accepted that previous ATH was the range high...but I'm not convinced.
Look at the chart:
1) I have highlighted in red the backtest that triggered the selloff
2) I have highlighted in green the backtest that triggered the...
Hi everyone!
We had an interesting week.
The market finally moved significantly.
What's now?
As of now we don't know yet if this is (was) a bear market rally - aka short squeez - or an upside break.
Until proven, I stay with the general market structure (ranging > shot resistance, long support).
Short idea reasoning:
1) Price at HTF resistance
2) LTF...
Hi everyone!
The last btc long went fast and was on target (hurray).
This play has more risk (under resistance).
but
1) R/R ratio is just fine (2.78)
2) clear invalidation (monthly close + prev ath)
3) RSI consolidating at the higher band - usually indicating a bullish consolidaiton
4) so far looks like a bull pennant is forming, with target exactly at a...
Hi everyone!
Possible short term bitcoin long scenarios before FOMC meeting.
-Bull divergence on RSI
-Broke downtrend line (2 rounded bottom retest)
-Acceptance above range POC
-Clear invalidation level
GL & HF
Hi Everyone!
"simplicity is the ultimate sophistication"
Looks like a weekly deviaton at previous ATH...and a retest with a high volume up momentum so far.
-High volume at the lows - "you need volume to stop the falling" (Technical and Stock Market Analysis Profits - by Richard W. Schabacker)
-RSI downtrend broke, 2 rounded bottom retest
My target is...
Hi Everyone!
Looks like VIX wanted to move higher but faked it (double top pattern, RSI confirmation).
My target is low 20's.
Look for a relief in stocks.
