Bull since new year, Is this a bull market?Many will claim it is still bear until 3x,xxx or 69K. This is false. Bull is now and only a lower than 15k dump could change this.
BTC-CRO
👻 $DXY $BTC Divergence [What's up with $EURX and $CRO?]Usually when $DXY tanks, $BTC and other investment assets rise, but today is again diverging from the norm (2 or 3 time in the past days). What explains it? Perhaps the fact that $EUR is 🔺 up? A rebalancing of the currency books, perhaps? Or we're setting up for a fake out in during US open. Where are my currency experts at?
The market seems to expect more dovish announcements during the upcoming Jacksonhole FED event; my take based on Chair Powell's speech in June is that we could indeed expect rather a 100bp hike (very hawkish) or at least 75bp, again like last time. The doves are hoping for a 50bp hike. If we get 50bp, does it feel like the market will be ready for a rally?
I stopped out of the majority of my $cro short around .13. Looking to add more back in some more if we dump through the .1285 - .13 range and retrace back to these levels.
I expect 20750 to be an important stopping point for BTC and opportunity for quick long scalp for a few points if the dumpiness continues during the EU trading session, as I would expect the US brinks to put a little long pressure on before it shows it's true intention for the day to either continue the $dxy dump and move into longing other asset prices, or to reverse and really dump the markets at market open.
Summary, SHORT.
My analysis still isn't solid and clear; but i'm hoping you're following along and interested anyway. Comments, suggestions, questions welcome! GL out there!
📈 $DXY & $JPYX are on the rise [🔻$MSTR, $BTC, $EURX, $CNYU]We all know the drill, if $DXY is moving up, more speculative assets like $BTC and other #crypto #altcoins will trend down. Pressure is on as $DXY aims to reclaim the lost ground between 108/109 as the EU traders move to exit and US pre-market gets their ☕️'s brewing.
If we push back through to 109 and past 109.5, I expect to add onto my short $CRO positions and sell more of my $MSTR when pre-market opens for the day. We've been rejected at a few too many key levels for my $LONG comfortzone this week. If, and only if we can recover 21500 $BTC and then 21800 BTC with strong volume, will i look at switch bullish and slowly accumulate LONG positions between 21400-21700 with a target of 22400 to exit.
I'm targetting an initial 25% exit for my $CRO short position at .1233, with a reversal and initial 25% LONG position starting at .1205.
We very very very well might go lower though, so my expectation is to keep my DCA range tight. The volatility is going to be insane going into the first 2 weeks of September! Gooooo #ETH (consensus layer merge!)
If $DXY retraces during the US Brinks (pre-premarket) though, watch for the fakeout! THere's a lot of pressure building up (volume), the moves will likely be fast.
Distribution signals flash at EU Open [$CRO, $MSTR, $BTC]EU Open today bring more sideways action for us all. +-1-2% moves over night, nothing much, all things considering. The market has clearly tightened it's range for the past 2 days, anyway. Volatility is still expected, as we remain sandwhiched between two massive gappers on either side of $MSTR current levels in the $210-235 $300-325.
$DXY continues to show strength, but given the double top, it's possible for a short-term reversal, if not a all out dump in September when the Jacksonhole rate hike announcements are made. Stay tuned!
My custom Accumulation / Distribution scripts are warning that the market is likely over heated (on the 15m scale), which aligns with the fact that BTC also rejected it's approach to the golen pocket formed from the most recent dump.
All this is to say, i'm still holding only my $CRO short position for the time being. Last night my take-profit limits only managed to cover 25% of my open position as I slept, when Asia brought us down into the .126 range before retracing back to current levels as EU opened.
With only 4% gains at the moment, it's nothing to write home about, but i'll be looking for good opporutnities to accumulate more shorts, as my overall thesis remains about the same as it was yesterday. Lots of resistence around the .13 levels for $CRO. And lots of resistence for BTC at 21450-21500 (golden pocket). Same like 282-285 for $MSTR.
Watch the $DXY! If it continues to rise quickly, expect asset prices to further collapse!
$BTC faces resistance exactly where expected [$CRO, Golden R.]Nothing more satisfying than charting out FIB lines and fining the place where prices are stuck aligns exactly with the FIB golden pocket... what else is there to be said? Waiting out the results for the day of my $CRO trade; short still and holding. No more accumulation, watching $DXY and $MSTR as we go!
CROUSD Heikin-Ashi turns bullishBoys and girls, the Heikin-Aashi candles turned bullish on the daily's. Does it feel real, or just a error blip in the tape?
$ETH bullish JET FUEL above $4150checking the 4hr ETH has been consolidating forming a flag bots could get switched to buy above the EMA's
first PT $4300
needs to get above 4150 to be bullish
Moving AVerages setting up for golden cross on the 4hr
$CRO READY?CRO is working its way back to the support marked and looks strong. However, if BTC drops of course everything drops with it. If BTC still abled expect to see moves from here.
