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Would we finally see $2900 BTC?What a boring 48hours! 1. Falling Wedge -. (+ve) Breakout 2. Descending Triangle -> (-ve) Breakout Doesn't matter in what direction it breaks out from these patterns, in the end, everything points 2900. It will happen. The question is when. I've never seen any commodity reverse it's direction in the middle of nowhere. Where BTC is atm, it's the middle of nowhere. Broke 3500 support. Has to test the next support. These are basic fundamentals of Trading. If a resistance is broken, the price seeks next resistance. It might not get to the exact resistance but it'll try to get there. Wick close to it or something. We haven't seen that move yet. Which is why I believe sooner or later, we'll get to 2900. I see no reason why BTC will call this home and move back up. After dumping $100 just now, we are sitting at the bottom of the descending triangle. Low liquidity weekend is here. The volume is any way dying. I just can't see it going up anymore. How am I trading this? Got into a SHORT earlier today at 3400. Closed it at 3360. I thought this side movement will continue for another 24 hours. Now, I'm looking for a decent LONG term SHORT entry. 3340-3400 would be a good entry. 3400-3500 is better and anything higher is frigging awesome for a SHORT entry. What are my indicators saying? FOMO 1hr -> Red since 3460 FOMO 2hr -> Red since 3420 FOMO 4hr -> Red since 3400 HTL -> Turned Red around 3370 FOMO Momentum -> Showing extremely low buy momentum which is dying slowly. When will I LONG? When I see a reason to. :)
BITMEX:BTCUSD.PShort
by vjsharma89
11
Update BTC - Bull Trap or 3200 was the bottom?Fibs suggest 3200 or 2900 should be the bottom of this massive retracement. After 3500, Weekly and Daily Horizontal support is 2950. If 3200 was the bottom, we would have seen some big buy volume in that price range. We haven't seen that yet. The declining volume is pointing another move down. But to go for further down, gathering liquidity in the pool is important. A lot of people are calling 3200 - The Bottom. But I'm far from convinced that that was the bottom. It is difficult to trade in low volume market. Days of sideways are usually followed by a big pump or a dump. I'm seeing another push to 3500 in next 2-3 days and in a LONG at the moment. But it won't be easy. We have made numerous attempts to close above 3500 but have failed to stay above it. How am I trading this? We've just broken out of another down trend resistance line. I'm in a LONG since 3328. Chasing it with a Stop Loss. 3500-3550 would be a good area to take profits from this LONG. Post that I would suggest to close all positions and wait for some sort of confirmation. A consolidation above HTL on higher timeframes is required to be sure of a long term LONG trade. What are my indicators saying? FOMO 1hr/2hr and 4hr are green. FOMO Daily is green after a long time. HTL has turned green. FOMO Momentum Scalper is indicating increasing Buy Momentum.
BITMEX:BTCUSD.PLong
by vjsharma89
2
Such a Perfect LONG Scalp!FOMO 4hrly Buy Signal was received around 3360 1hrly and 2hrly have been green since 3330 I got in a LONG position once 1hr and 2hr Signals aligned. I entered with a very small margin and low leverage simply because I was counter-trend trading. Now once, I received this Buy Scalp Signal (3385), I increased the number of contracts in my position and increased the leverage too. Set multiple sell orders from 3450, all the way upto 3550 Closed the complete position around 3565. Majority with limit orders and remaining TPs at market. This was a 70% trade at 25x leverage over a span of 10min. Hence, the Perfect LONG Scalp
BITMEX:BTCUSD.PLong
by vjsharma89
4
How to get the best out of FOMO_Buy_Sell_IndicatorConfirmation of FOMO Signals 1. Open position after Candle Close or new Candle Open 2. Make sure price is below Holy Trend Line (HTL) for SHORTing. 3. Trade with the trend (Downtrend). 4. Close/consolidation above HTL indicates possible trend reversal Result Total Profitable Trades in direction of the trend -> 7 Duration -> Less than 30 Days 5x Leverage 1. 73.9% 2. 105.95% 3. 88.45% 4. 25.55% 5. 35.4% 6. 44.6% 7. 80.65% Filter out better trades 1. Do not SHORT if HTL is green. 2. Do not LONG if HTL is red 3. Trade in direction of the trend.
BITFINEX:BTCUSDEducation
by vjsharma89
7
BTC - Bit of Indecision!What's happening? As you can see that, after 2 days of sideways, that downtrend resistance is here. If we break that, we'll be heading to 3640 or higher for now. If you are in a SHORT, I would suggest close it for now or chase it with a Stop Loss. This doesn't mean that trend has changed. We are still very much in a downtrend. But for the time being, over a short term, XBT might break out from this resistance. At the same time there is a good chance of it being rejected from it. Like it has last 3-4 times. So be careful here. If you wanna play it safe, I would suggest, trade the break-out. If you wanna play it risky, LONG here and hope for a break-out to 3800. How am I trading this? I've closed my SHORT after taking profits multiple times during previous drops to 3320 and 3260 Trade 1 Keeping 3520 SHORT order, Stagger 1 -> 3540 SL at 3560 now. Trade 2 Currently in a LONG from 3432 on my Scalp Trading Account. Main account has SHORT orders as per Trade 1 Trade 3 SHORT orders at 3640, 3740 and 3860 followed by SL at 3890 What are my indicators saying? FOMO 1hr, 2hr, 4hr and HTL are green. Indicating an uptrend. FOMO Momentum Scalper is indicating increasing buy momentum.
BITMEX:BTCUSD.PLong
by vjsharma89
BTC Bottom - So close yet so farWhat's happening? BTC has been pretty volatile today as compared to last two months when it was making 0.1-0.5% moves in days. Today it jumped to 3499, came back down to 3320. 2.x% move up and 2.x% move down within a day. Good day for scalpers. We are around same price where we were yesterday. I'm still positive about letting this SHORT run. Downtrend still exists. Sell pressure is still there. But SHORTs are still piling up and hence SHORT SQUEEZE is still on the cards. So, that being said, there is a very high chance that we have already bottomed out or are very very close to the bottom. If 2900 is the bottom, we are just 14% ($300-400) away from it. If 2900 doesn't hold, next solid support is at 1800 with a tiny bit of support around 2350. Now considering all of the above, I'm not putting a lot of money on this SHORT. But I'm going with the trend and letting this SHORT run. How am I trading it? 1. So, I've taken profits from my SHORT around 3330 Staggered again at 3460, 3540 and 3650 with a SL at 3670 TP from here onward till 3k. 2. I've put BUY ORDERS with a very tiny amount in the range of 3k to 2800 with a SL at 2750. Very high chances of 2900 being the bottom of this drop. So risking a small equity for this counter trend trade. What are my indicators saying? 4hr FOMO has finally turned GREEN today after staying RED since 3900. Daily FOMO is still RED. FOMO Momentum Scalper on 4hrly and daily timeframe is indicating a reversal. Check the DARK GREEN bars in the histogram. Holy Trendline has turned GREEN too. My indicators are indicating a relief rally but considering the recent sell pressure, I'm not convinced. Not yet. When will I LONG? I'll simply open a LONG trade for short term once my SL at 3670 gets hit. That'll be a temporary break of downtrend. For me to be Super Bullish, I would want BTC to close and consolidate above HTL on daily timeframe. HTL on daily is at 4220 Until then, it's SHORT the pump as I've been saying. Why don't I LONG now? Since, I believe 2900 is the bottom, I just simply don't wanna Counter-Trend Trade at the moment. I will miss out on that Big Fat Green (Short Squeeze) whenever it happens if 2900 is the bottom. Perfect timing for a SHORT SQUEEZE would be a bounce from 2900. But we don't know that for sure. We just don't know what the bottom is until we know what the bottom is. It'll be one of those horizontal supports or a trendline from the past. But we don't know which one. Which is why I'm sticking to trade with the trend and SHORT those pumps.
BITMEX:BTCUSD.PShort
by vjsharma89
NVIDIA: FOMO bulls beaten badlyIn my previous screencast of 17th November, below all this text, is the story of someone (not from Tradingview) messaging me to ask if NVDA was good to buy. They were disappointed when I simply said "No". In the current screencast I follow up on how the FOMO bulls were punished for attempting to hunt a gap too early. This screencast is not advice. I am not saying that NVDA will not rise again. The point of this video is solely about appreciating when not to go in . I'm not saying that now is a bad time or good time to enter long. There are lessons in this: 1. If you're with the trend it can be your friend, else it's your enemy! 2. Avoid news and social media crowd sentiment. 3. Avoid gurus.
NASDAQ:NVDAEducation
by Captain_Walker
Update: BTC is in no trade zone atm.After that inverse BART, we got that drop as we expected. I did expect it to break the new uptrend support but it didn't So, now we have 3 patterns going on right now on the 4hourly timeframe. 1. Symmetrical Triangle (Blue) We marked an uptrend support line after the inverse BART.This uptrend support line is forming a symmetrical triangle from our previous downtrend line. Now, at the time of publishing this post, the downtrend line is just under 3900 right now and the uptrendline is around 3780 2. Symmetrical Triangle (Green) We'll look at this triangle if we break the Symmetrical Triangle 1 and the Descending Wedge 3. The downtrend line of the triangle is around 4250 at the moment and uptrend line is the same as that of Symmetrical Triangle 1. 3. Descending Wedge (Red) The descending wedge is pretty clear but we won't know if it is in play atm The downtrend line is the same downtrend line from Symmetrical Triangle 1 The bottom line of the descending wedge is running around 3630 atm. What do we do now that we have 3 patterns in front of us? Trade outwards Starting from the center. Symmetrical Triangle 1 -> LONG if we break the top and SHORT if we break the bottom. If we break the top, Symmetrical Triangle 2 will be in play. Take profits from LONG around the downtrend line of Symmetrical Triangle 2 (at 4250 right now). If we break the bottom, take profits from your LONG around the bottom line of descending wedge (at 3630 right now). Symmetrical Triangle 2 -> It'll be in play only if we break Symmetrical Triangle 1. So trade it the same way that you traded Symemtrical Triangle 1. Trade the breakout. If we break the top, we'll be heading to 4460-4780 region. If we break the bottom, the target would be 3500. Descending Wedge -> These break out to the top most of the times. So if it is in play, we'll find out. Trade the break out If we break the bottom of this wedge, we'll most probably test 3500 support. This is as simple as it can get. Trade the breakout, run Stop Loss under the trend in case it's a fake out. What are my indicators saying? FOMO 4hrly is red, HTL is red. What's my trade setup right now? I've closed majority of my SHORT position (shorted at 4010) and will wait for a confirmation from one of these 3 trade patterns before opening a new position. I'm not doing any scalps. This is strictly a no trade zone for me.
BITMEX:BTCUSD.P
by vjsharma89
6
Update on BTC. Expect big action this week.It's also forming a bear flag on the daily. Pink lines indicate bullish divergence that has started to play out. Over last couple, XBT has been trending up on the Daily chart along the red trendline. There is tiny bit of bearish divergence on the daily too. Marked in blue lines. What's next? If BTC holds the red uptrend line, we'll keep cruising up on daily timeframe. If it doesn't, we'll be testing 3500 again for sure. From the previous bounces from 3500, bulls have made clear that they don't want it to break. But it's a gamble. What if they have moved down to the next support for prospective bounce. Next support is 2950. Weekly candle has closed bullish. How will I trade next couple days? Scenario 1 -> The movement is not clear atm. Test of red line will confirm it for me. If we break the red line, I'll open a SHORT close majority of it around 3500 Scenario 2 -> If we test the red line and bounce, I'll open a LONG and look for 4200-4800 as my TP points. Scenario 3 -> BTC breaks the red line and breaks the 3500 support - SHORT and close between 3000-2900 Bounce from 3500 again - I'll wait for a pullback from the bounce for my LONG entry What do I think? Well, I think we are at a massive No Trade Zone right now. Waiting for a confirmation will allow me to trade the movement. Trading either direction without confirmation is gambling imo. What are my indicators saying? 1hr,2hr,4hr timeframes on my indicators are pointing down atm. Daily is still green.
BITMEX:BTCUSD.P
by vjsharma89
4
What's next BTC?SHORT TERM ANALYSIS If current 4hrly closes here it'll be a bullish spinning top. If it closes higher, it'll be a bull hammer. If it closes below 3910, SHORT is still ON. 3 hours from now. A lot can happen in 3 hours. Perfect LONG entry here would be 3780 to 3640 I'll close my complete SHORT around 3900 and seek a tiny LONG entry around 3910. LONG TERM ANALYSIS The chart is simple to understand. Confirmed Long to mid 5ks would be if we break 4.4k. Break top of red symmetrical triangle - We go up to 4.4k Break bottom of red symmetrical triangle - We go to 36-3500 range and most probably go down to 2900 range Break pink channel's bottom, we go to 37-3500 range Blue lines are some trendlines that could provide resistance. Time will tell. Closing below 3430 - Going to test 2900
BITMEX:BTCUSD.P
by vjsharma89
BTC Update - Wen Mewn? Not anytime soon.Yes, I'm still saying BTC is not gonna moon anytime soon. This 85% retracement has prolonged the bear market by another 6 months at least. Let's see what BTC has gone through over past 2 weeks. The first drop We dropped to 5180. Tested 0.382 Fib and went down Second drop We dropped to 4016. Tested 0.236 Fib and went further down Third drop Reached 3440. Saw 3 nice bounces from the current bottom. At the moment, we are testing 0.236 Fib again which happens to be the .618 Fib of last drop. We have a downtrend resistance to test (marked in red). We should keep moving sideways, test this resistance and get rejected. Next resistance is 4460. If we break this downtrend resistance, we can see BTC heading to 4460 and getting rejected or keep moving up to 4630 (.382 Fib) and get rejected. I am short term bearish on Bitcoin. Remember, it took more than 10 months to break 6k. From recent bounces at 3500, it's clear that we won't break it easily. Don't get me wrong, I'm long term bullish on Bitcoin but realistically, this bear market is far from over. This is how I'll be trading this. Initial Entry - 4165 Stagger 1 - 4430 Stagger 2 - 4620 Stagger 3 - 4760 SL - 4790 I'll update TPs once my initial entry gets filled.
BITMEX:BTCUSD.PShort
by vjsharma89
BCRASH LONG Trade!Yes, I'm serious. I drew this wedge a week ago but wasn't really expecting it to make a stop at the support. Now that it has, it looks like it could turn into a really good LONG trade. BCHZ18 is already at it's lowest. Well it is if you ignore that dirty wick to 305. I'm going to wait for a a bullish 4hrly close before jumping on it. So, basically this trade is not there yet. Need to keep an eye on it. Trade will be simple Entry - At Bullish Close of 4hrly SL - 415 (Below the support)
BLong
by vjsharma89