VET is bumping against an upper trend line, if it gets broken on 4 hour it triggers a long for me. Depending on market conditions I may seek extra confirmation and require break and close on 1day.
If BTC experiences some downside I will look to enter off a retest of 0.11 support.
Be looking to take profit at 0.14
Long time no upload!
So the shorts I was tinkering around with all got stopped out, BTC swept me up with 53k pump, then chose to dump. Lesson = shorting a pumping BTC is like lion taming.
Sucks but oh well, ALTS have been giving fantastic opportunities off this BTC price action so I'm not complaining!
BTC got over leveraged and had some cascading liquidations...
Is Ethereum keeping BTC bullish?
We have broken the ascending wedge pattern which suggests a move down the range, but BTC is clinging onto the 50k mark really stubbornly.
The start of this monthly candle is green, the weekly close is green... it looks ok! I still think probability favors a correction here but as they say, BTC will stay bullish longer than I can...
Good effort by the bulls to bring us back into pattern and above the trend line.
We maintain trend barely and have another opportunity to go higher.
Price is entering a squeeze between 50k to 51k resistance and the lower trendline support, I think this is where we see fireworks, the next few days its very likely to be big up or big down.
I flaunted with a 50k...
I don't think we break 50k in a significant fashion. I can see us hit maybe 52k, then get rejected outside of this ascending wedge.
This current ascending wedge looks prime for breaking below.
We have gone up 20k with crazy bullishness to 40k. BUT... I cant get the last dump out of my bias completely. We aren't in price exploration so I feel odds are against us...
Touching 48k is impressive, keen to see how this daily closes, if we don't get above 47.2k in the next day and record a lower high on the 4 hourly, I think we come down to test this ascending wedge lower trend line.
I'm getting the impression BTC is rounding off at the top here, that 50k may be as high as we can get, great time to take profits.
Still a period of...
Third time on lower time frames we coming up to this 46.7k mark. Clear resistance, Do we break it?
If we break below a couple of the lower trend lines I have drawn... things could get nasty. If we break 46.7k, I think we could get to 48k to 50k. A lot of the market is long here judging by open interest, which means if there's some sell off, things...
Bitcoins recent bullish breaks at 41k have followed us through to a peak of 46.7k. Many of us were expecting more forever green always up price action, but now we are all starting to be reminded there is such a thing as overbought.
We are sitting with indecision right now, do we want 50k or do we want to revisit previous resistance that's now support?
BTC has formed a significant higher low, another significant break of the range 41k, and a significant break of the most recent high.
Damn good signals.
A longer time frame swing trade I believe is on the table, but there's a lot of risk being 12% from the recent higher low. Though you could structure your trade around breaking back below 41k to invalidate.
(So hopefully my internet issues are behind me, have had 2 failed vlog uploads, which sucks but moving on and should be uploading more regularly now.)
Being totally honest, I entered a short at first 40k touch, got stopped around 41k, possible I would have entered another short (I'm backtesting these trades so its dependent on me being honest with myself!!) and...
A ton of volatility again today.
So apparently that pump was off some amazon fake news??!! For real?! That's all it took?! Imo lets not ignore the fact a ton of money was just itching to jump back in on any pump.
Then some tired old recycled tether news dumps us... I'm pretty over the news for crypto. Think I prefer tracking all this from a purely TA-centric...
I've been schooled by the markets the past few days, I was mostly blind-sided by the break to 35k, and 99.99% of the world population cant see the 36k to 40k pump.
That was nuts.
I will be honest, I don't think I would have bought the breakout, and any longs I may have opened at 30k would be mostly closed at 35k. So if you are looking for analysis and...
*uploaded this morning and appears we broke that trend line!
So my 'slight' bearish bias got a little out of hand haha, I try to keep it real and for the most part I have done that here, but certainly I didn't see a distinct bounce.
In hindsight it makes complete sense, if you break below major support and theres no fear or panic, a bounce makes more sense.
BTC price has broken below 31k range, finally, and had a sharp move below 30k, we hit 29.3k and are now essentially sitting here waiting for the daily close.
If price can get to 29.5k area and close on the 1 day.. that will have significance. After that, we would need the next daily candle to close entirely below the 30k mark to signal some big ole...
Here is my prediction for WABI = $0.9
I'm guessing a BTC break below 30k and test in the 20k range, so WABI would experience further downside. Touch the 0.1 mark, bounce around, then break below for 0.9
Stupidly hard to predict this far out, impossible imo, but 0.9 is my prediction. Take that for what its worth!
WABI is interesting as it cant fall off a cliff...
*Hmm think the vlog was a bit loud today! Will get it better next episode
This squeeze is still squeezing! More lower highs! BTC has now backed itself into such a narrowly ranged corner we are bound to experience some pump or some dump.
Short term I have to admit things looking a little more bullish, I think we could experience some reprieve here. We need to see...
BTC is going full contortionist on us right now.
These previous 4 lower highs on the 4hour chart are really starting to make things look bearish for BTC.
The continuation of this pattern of decreasing highs suggests price wants to retest 30k and possibly lower.
This range and general chop is just bad place to be trading, at least for myself and many others....
BTC looking like it wants to touch 35k more times than a catholic priest touches... ahem!
BTC has retested and bounced off the upper trend line of descending triangle multiple times now, my confidence in this pattern is beginning to waver, or it could just be I had a shitty sleep and my mood is a bit low!
I have seen a descending wedge being floated by others...