CRYPTO - Big Guns Deployed (BTC $174K!)

2 days ago

13 minutes of video; looking at Bitcoin, TOTAL, altcoins.

HOT breaking out now! - Trade setup in video.

See you @ BTC $174K!

Not advice

2 days ago

Note

Hit the BOOST if you like this - thanks 👍

yesterday

Note

If you've been watching my previous videos, you'll know that I am becoming an advocate for lower time frame trading in altcoins.

The swings have become too wild and profit taking is required.

For Bitcoin, nothing has happened since making the video.

But for altcoins, many have had a smackdown over the last few hours.

Using the ratio method as described in the video, ADA wicked into the reverse 2.272 extension - quite a common ratio for impulsive completion.

And that was also just above the 0.786 retracement from the previous peak.

In the comments section, Legionnaire911 will be able to tell you that - slightly higher than the 0.786 is a real sweet spot for reversals - I see many of them throughout each week.

With these 2 ratios aligning, this was a first opportunity to take profit.

Now just a few hours later, ADA has slumped significantly.

And so I have taken profits in this area.

I still hold Bitcoin and a few altcoins in a high time frame portfolio, but in my trading portfolio I have locked in profit for the day and have no open positions.

...

Now if we take a look at FARTCOIN:

This coin chart has been an incredible leading indicator time and time again.

And here this looks like an impulsive 3 wave correction.

Notice the ratios again:

It topped out at the 1:0.618 Golden Window (0.618 - 0.786).

This is a weak ratio since the third wave is shorter than the first; and effectively is a liquidity sweeping slightly higher high.

So this is a bearish look here and I will now be looking to gently enter short positions as any bounces arrive.

...

So the path to $174K appears to be very much on for Bitcoin, but altcoins have such wild whipsaws - we'll have to see where this next twist takes them.

yesterday

Note

The strongest coins are holding on.

And so I will await pull backs and not short.

Shorting is perhaps quite aggressive at this stage of the market.

But it could be that short opportunities develop.

For now, ETH is holding very well.

And that is probably a good sign for the market.

It will likely get back to this support @ $2878 and then I will think to buy the dip.

It will be interesting to see what action unfolds over the weekend.

yesterday

Note

The market wobbled, but now HOT - that I covered in the video is looking good to hold and move on up so long as Bitcoin doesn't slump.

Making re-entries into the market now.

dRends35

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dRends35

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