BTC SHORT1st Break of Channel Extreme boundaries in the 1 Week timeframe chart
Daily time frame chart presents a Setup for a short position:
Imbalance, that got filled a posteriori
Orderblock is one that manipulates the market
Liquidity formation below area of interest
The approach to the area of interest is with low volume. Price goes up but volume goes down significantly. White Lines
CHOC confirmed on the Daily Timeframe
Second Entry on the last supply created targetting 15450
Cryptobear
#bitcoin target = $21.5 I know you don't want to hear it ...But I must present the possibility of this occuring
HOW much would this hurt you if this occured..?
Proceed accordingly
AND BUY THAT dip! IMO would be a multi year LOW
I cashed out my leverage long position
and converted what remaining #ETh I had into Cash
BTCUSD - ToppedBitcoin should see downside pressure from here on.
Potential to drop to 10700 and from there we will have to see if this support holds.
Expecting moves in Nasdaq, SP500 and DJI to drag BTC down with it for a certain amount of time. With it I expect ETH to drop for a few weeks as well.
RSI showing divergence. TomDemark showing top for ETH. Trendline hitting top. Fear and Greed hitting high numbers, Paypal's bullish news could have settled the top and futures market may have used the news as an entry to short the market.
Embrace volatility.
Happy Trading!
ALGOUSD - Bearish Continuation Pattern or Bottoming Pattern?Algorand looking as if it is building one massive broadening triangle which could go into both direction when hitting the bottom.
Looks very bearish at the moment. Also built a H&S in shorter time frames. Good luck with that one!
Happy Trading!
XRP/USD - Weak rally back to 30 then down we go againThe levels I had in place for XRP for Bybit exchange were dead on. It would have made an excellent short...
As expected, eventually the support was eaten up and it collapsed out of the range it's been in for some time now, as some good traders said, it wasn't unlike BTC at 6k in 2018.
This is where things get interesting, XRP is now reacting to the levels set back in 2017 before the euphoria pump.
I have a feeling it will rally back to local resistance and then collapse further. May open a short if it gets even close to the 30 mark as this * will not * be reclaimed for at least a few months (unless we get alt season).
Bitcoin short term bounceBitcoin bearmarket is going according to plan. It just got oversold a bit too much right now and will most likely retrace to previous breakdown range of around 5-5k 6k. Other than that check the reffered chart I've posted some time ago. We've now hit 70 percent line, but we've still got room to drop.
BTC Fib StrategyAs I have pointed out before, BTC likes to bounce at the .886-1.13 and the .618 retracement.
Every retraced run has resulted in 100% accuracy of the predicted move within roughly 100pts
of the retracement mark. The retracement for 2 runs ago gave a nice bottom pattern within 100pts,
and now this leg up has come within 100pts of the .618.
The strategy is to project the fibs at the swing points and take a position
within 100pts.
BTC is also in a triangle. If I had to guess I would say it will proly result like the last one
(bull trap breakout and eventually breakdown).
Daily crypto hate: Crypto hater back to spread FUD.I already posted most of the reasons why I think crypto jumps off a cliff soon.
I would not be surprised if a bastard whale has some fun and manipulates the herd to go insane once again "this is it the big rally! HAHAHA to the moon! bears got rekt we won!"
How braindamaged does one have to be to not comprehend he is a part of the market and every one else like him is in the same situation???
Well research shows IQ scores have been dropping for the past decades so I guess we got our answer as to WHY?
Most of what I wanted to say is in the chart, let me post this very important trendline, we can see it better here:
It might be a bit early for this, but when we reach that support, wait for some confirmation before going long.
Some nice low RSI and divergence on oscillators (I just use RSI because can't be bothered).
Since they are alot of trash traders in crypto they will not wait get all excited and overcut it, but this is going to be a super violent dump so these fools are going to get liquidated and fill MY longs & I will laugh.
Complacency soon over boïse. Get ready to see panic and tears.
These fools should have listened...