reees

reees

let's be honest - the current price action continues to look dismal, and market sentiment isn't doing bulls any favors. (1) for the first time since this bull run began, we dipped below the bull trend line AND got rejected on the retest. look at any chart and you'll see this usually happens with a head & shoulders or bump & run reversal. (2) we just hit a new...

reees

we saw this one coming . sure enough, that's looking like a right shoulder to me. the caveat being that we just got rejected by the long term bull trendline (white line). i don't have time to trade this, but i would be looking for a better entry probably. maybe closer to $34k. stop below the right shoulder, closer to $33k. i still think we should trade with...

reees Updated 

so we nailed the breakout and made a few bucks, but where is bitcoin heading now? in the immediate term, i'm short (and i've sold all the long positions i opened a couple of days ago). price is moving up into a strong resistance zone around $42k, and i expect we'll come back down to retest the top of the triangle. (1) this is a long established...

reees Updated 

not sure what the odds of a bullish reversal are here, but it doesn't really matter. here's how i plan on playing this with minimal risk: (1) if price finds support and bounces off the trendline, i'm buying. this would appear bullish to me because (a) it would form an inverse head & shoulders pattern, and (b) this is our long term bull trendline. stop tightly...

reees Updated 

the last week or two has been exceptionally boring, but i think we have a good setup for a long here, for the near term at least. targets are based on established support/resistance levels and expected margin buying/selling pressure levels. if you've seen any of my other recent ideas, you know i'll be taking profits on alts at these levels too. ultimately...

reees Updated 

it's anyone's guess whether we'll see a continuation of the bull market or we're headed for another leg down. but here's what i do know: we're most likely going to test higher levels before heading down further (particularly the neckline and bear trendline). for those who are already fully hunkered down for crypto winter, this is of little value to you. but for...

reees Updated 

a lot of bullish signs here. price has broken above all of the down trendlines, including a breakout above the bearish pennant. normally i would be buying the breakout (or the retest), but none of these bullish signals mean anything unless/until BTC breaks out to the upside. anyone who's read any of my recent posts knows that i firmly believe alts follow bitcoin...

reees Updated 

remember that awful week at the end of the school year where you had a bunch of tests all at once? feels like that's where bitcoin is right now. i see a potential bullish trajectory here, with a series of tests along the way: 1 & 2 - down trendlines - if BTC doesn't pass these first two, we're still in a bearish pennant 3 - margin pressure (4x longs, 3x shorts) -...

reees Updated 

doing a lot of this lately. expecting a retest of the trendline around $2200ish, where 5x buying pressure picks up and 2x selling pressure drops off. the 2x levels seem to be pretty reliable/high probability. thinking we should at least get a bounce up to the 3x long level around $2590 (18%).

reees Updated 

i've been talking about margin buying/selling pressure levels a lot lately. why? because they're a simple and effective tool for predicting tops/bottoms and support/resistance levels. if you're trading crypto and you're ignoring these levels, you're putting yourself at a disadvantage. just take a look at this simple example from bitcoin's recent volatile price...

reees Updated 

there's a lot of resistance around $40k (where 3x selling pressure picks up, and 4x buying pressure drops off). expecting price to break down from the ascending wedge and retest the trendline in the lower 30s. should be a good opportunity to buy there.

reees Updated 

my fiancée has been asking why i'm not selling here, so i made her this chart to try to explain the big picture. in doing so, it became more and more clear just how little downside there is, even in the bearish case. the more i think about it, the more it validates my decision to double-down on this dip. was $65k the top? maybe. maybe not. but the more important...

reees Updated 

at this point, my trading account is about %50 fiat/stablecoins. here's how i plan on handling the other 50% over the next few days: in times like this, alts follow bitcoin closely. so when bitcoin surges, alts surge. price has been trending down for a while, without any correction to the upside, so probability would suggest we have at least one more chance to...

reees Updated 

bulls are hanging on by a thread. if there's any hope for a continuation of the bull market, they need to make a stand on this logarithmic trendline (0 level of the channel) dating back to early 2020. i'll be in full bear-mode if this support breaks. big picture, we're still cruising around the .5 level of a massive parabolic bull channel (est. 2013), so the...

reees

no, this doesn't contradict my prior idea, it's just a lower time frame view. i think it's likely we'll test the $37k-$38k before any type of reversal. top of an ascending wedge is usually a great place to sell, and it's even better when you can do it with 3x leverage and have your liquidation point above the ATH. seems like a pretty high probability play,...

reees Updated 

i'm expecting NANO to make a big run over the next few months. looking for another entry in the $9-$10 range (might be the last time we see these prices). would not be surprised to see NANO blow right through the top of this channel in the near future. also looks to be "elon proof" - you can see it pumped after elon's latest tweet that sent the rest of the...

reees Updated 

if you're like me, your trading account just took a hit. i had 6 open positions, all stopped out, negating almost a month's worth of winning trades. it happens. no need to get pissy about it, just make the most of the hand you're dealt! i'll be the first to admit when i'm wrong. i didn't think the $40k-$42k support would break. it did. price dropped to $30k,...

reees Updated 

take a look at what happened when BTC price approached the long term trendline in june of 2017 prior to the epic bull run.