stdafx_h
Bitcoin has come down and tested the low from 2019-07-02, between it and the weekly were a nice entry zone. We only just tapped the range, only giving me a partial fill. Continuing higher, I'd look for some profit-taking around 10245. You could use the profit target as a short entry but I would keep my stop tight.
The short entry on the chart doesn't look very promising anymore considering it was already hit previously; a break higher wouldn't surprise me. The long entry between 309 and 308 looks more promising, I would keep my stop tight as a retest of 303~ seems likely.
ETHBTC absolutely blasted that monthly range between 199 and 201, but for those who took shorts around 201 and 203 you should have gotten 1 to 2 targets then stop out. I'm still looking for some short setups and the 210 to 212 range looks good, nice stop as well.
Its possible we might head back and do a quick test of the 9119 - 9108 range, looks like a good spot for a long entry with the added bonus of a nice stop.
Some thoughts on eth, continue the trend to 151-155 range, if close upward, we test higher. Fail to hold, then most likely we go back and test the lower 140s again and possibly the upper-mid 130 range. For the fellow Bitmex eth shorters, this is looking like a good time to load some shorts in.
Not really liking any long setups within this range, shorts seem reasonably better.
A good daily close above the 126~ range seems good for looking at making higher highs throughout this range.
2019-08-14 : We've been following through with this pattern for a long time now and I think the point has finally come where we could possibly see some large movement in the coming weeks or days.
Theirs a good chance we will reverse soon, most likely around 9.6k - 9.9k zone. This reversal could determine if we are to break our 54-day negative regression and continue our 99-day regression upward. Another possibility is we continue our 99-day triangle, reversing at 9.8k. Most likely not breaking till the end of this month or into early September. A less...
A possible continuation of our current upward trend, or an entrance downward back toward the 9k - 9.4k support zone.
A possible repeat from 2018...
Here are 3 possible outcomes, each labelled in their respective colours.
Reversing now will most likely place us on a triangle with little verticle movement. We have good support at the 10k line. I think this is the most likely situation. The past candles have all closed red, but show scattered support. This downtrend entrance could bring us down to the 8k - 9k area where we'd most likely bounce back slightly, possible breaking the regression.
Although BNB over the past week or so, has broken with some record highs, this could be a sign for the formation of big resistance and with the price held out at the top of the Linear Regression channel, this could possibly bring a sudden drop of -19%+ over the next 13+ days.