kyeats813

kyeats813

Wow, what a ride. We final see a bounce; however, if you think this is over or thinking we are going to see a "V-shaped" bottom think about this. During the 2008-2009 financial crisis we saw a drop around 54% which took rough 515 days from top to bottom. In this most recent drop we saw a 38% drop in 28 days. Does that help clear things up? As the US government and...

kyeats813

As I've been saying the BEAR market is here, the next recession has begun. It's unfortunate but it's time for it, markets can only go up for so long. My anticipated next move has 2 possibilities. 1) While Friday saw a rally, I believe this may be a short squeeze with people hoping the bottom is in along with people not wanting to hold positions over the weekend....

kyeats813 Updated 

I mentioned in a previous post that I believe BTC is king. While you may see a random pump/dump in the short term in some ALTs, overall they tend to follow BTC. As we see BTC continue to dump, I've been looking for clear signs and opportunities for a low risk SHORT and I believe I've found one in LTC. I very rarely trade anything other than BTC and ETH but this...

kyeats813 Updated 

As I mentioned in my LTC posts, BTC is king and ALTs follow the leader (in a MACRO view). BCH has validated a very clear H&S formation with a clear break of the neck line. Opened a SHORT with the 4HR close below the H&S neck line at $293 and will look to add to my SHORT with a bounce back up to previous support range which should now act as resistance between...

kyeats813 Updated 

While my overall bias is BEARISH and I'll remain in my SHORT position which is still a large position; I noticed a potential inverse H&S formation on the hourly with a break and rest of the neck line. So I have opened a LONG on a separate exchange. Opened long at $203 and anticipating an intraday close of position. Looking to for initial TP around $212-213....

kyeats813 Updated 

Continuing from my previous post, the H&S formation on the daily was confirmed w/ yesterdays close below the neck line of the H&S. Was able to enter my SHORT with the wick up to $9200 and took 2 TP ($8600 and $8200). I really anticipated a bounce from that level back up to retest the neck line of the H&S however we did not get that and I added back to my SHORT at...

kyeats813 Updated 

Continuing from my previous post. Still riding this nice short from $245 with 2 TP taken at $233 and $217. Added back to my SHORT position yesterday morning with the 4HR close below 2 TREND LINES. Current SHORT position sitting at $225. Looking at my next TP around $182 then $176 as this area has significance (0.618 FIB, previous monthly wick, and area of...

kyeats813

As suspected, last weeks bounce was subsequently a failure and we continue down today. After dropping some FIBs on the daily, I noticed something strange. I rarely use patterns and tend not to take them as seriously as trading fundamentals like support/resistance, trend lines, double tops/bottoms; however, I see this as a possibility. With today's wick down and...

kyeats813 Updated 

My last post stated, I'll admit when I'm wrong and haven't been proven wrong just yet. I am BEARISH on a MACRO time frame. With failure to get a strong break above the trend line and hold above $9200 I believe we are heading back down. Now I am seeing a H&S formation on the daily chart. Was able to get my first short entry hit at $9200. Was anticipating a stronger...

kyeats813 Updated 

In my opinion, BTC is king. All other crytpocurrencies following the path BTC takes, typically. While there is deviation from time to time, I feel this principal holds true. With the nice F$#@ Y$%^ wick on the hourly, which touched the TREND LINE and the 0.5FIB, I opened a SHORT at $245. Looking to take some profits around $233 (0.5FIB from swing low-high). If...

kyeats813 Updated 

I anticipated with price falling below the MAJOR TREND LINE that we'd see a retest/confirmation and continue down. However, after the bounce off 0.5FIB and multiple candle closes back above that same MAJOR TREND LINE, I am not as certain of overall market reversal. I closed my short and open a long at $8877 and took initial profit of 25% my position at TP1. Moved...

kyeats813 Updated 

Like BTC, unsure as to the overall market. My bias at the moment is BEARISH and took home some very nice profits from my at $252. Closed my short at $232. Opened a LONG at $222 after noticing a DOUBLE BOTTOM on the 4HR chart. Took TP1 at previous swing high ($232). Now, I sit and wait. Looks like price is struggling to break above the previous swing high so I'll...

kyeats813

It's funny listening to the news during the first part of the week calling a possible bottom with a nice rally over 1600 points and then listening to them today trying to find reasons to justify losing most of those gains. Doing the opposite of what they're suggesting typically earns more profits than actually trading based off their ideas. Following...

kyeats813 Updated 

Anticipating small bounces in all markets during the first part of this week as some traders are hoping this was only a correction and others are taking profits from shorting last week's dump; however, I'm convinced we are looking at the beginning on the next recession so I have multiple shorts opened accross multiple markets and looking for counter-trend trades...

kyeats813 Updated 

We welcomed in the BEAR market with the 4HR and daily close below the MAJOR TREND LINE at 26900 back on Feb. 26 and using a 1:1 ratio from that point with SL (29239) at previous 8th candle high called the initial TP (24679.4) to with 3 points. Have mapped out my expectations of how the next moves of the early stages of this recessions will look like; however, if...

kyeats813 Updated 

First TP hit and 20% of position closed with profit at $8800. Now it is wait and see time. This is the time frame people lose a lot of money trying to guess which way BTC will go next. DO NOT DO THIS. Learn to sit on your hands and watch. Develop a strategy and plan; so if BTC does this I'll do that... As of now looking for 2 possible outcomes. 1) BEARISH...

kyeats813 Updated 

Short position opened with most recent failed swing high at $9800 and added with the previous 4hr close below major daily structure support at $9400. Being more conservative with this trade compared to ETH so a strong close above $9600 will cancel out the following analysis. If BTC gets a close below the strong trend line shown (labeled "1") I will add,...

kyeats813 Updated 

ETH has broken a major trend line on the 4hr. Initial short taken on last 4hr close at $252 and looking to add a more liberal position size on the confirmation around $255-260. Not looking for overall reversal on the macro but am looking for some nice profits in the immediate term. Initial TP using 1:1 ratio will be taken around $231-227. A strong close below $223...