BTC - AND WHERE IS IT GOING? SHORT? OR LONG?Quick little easy look at the chart. Analysis don't have to be compicated all the times with 10000 indicators and so on.
Sometimes the best thing to do is delete everything on your chart and start with de basics!
We can see a clear ih&s pattern and history on btc teaches us that those patterns are likely to breakout the opposite way. In my opinion thats just because to many retail traders are keeping their eyes on those patterns.
What we often see is a trick from the whales, they break out to the upside to trap the "confirmation traders" and before they can even place their SL on profit they dump it. What do we do? We wait sit back and relax. The moment we see the breakout happening we keep a close eye on our indicator (). When we see exhaustion of the buyers we enter short, and we enter BIG. With a very tight SL incase they decide to follow the rules and reverse the trend. This way you always have the BEST possible R.R ration and in the long run you will find yourself much more profitable.
Let me know what your opinion is about this chart and if you have another view show it in the comments!
Leverage
XBTUSD 1 Hr Mex Chart: Volatility incoming•Been watching the 99 EMA on various timeframes, interesting how it seems to be a pretty well respected line for either support or resistance, particularly on lower TFs. Caught a nice short yesterday at $3840 looking at the 99 EMA and PA together.
•Also the RSI stuck below 50 is another indicator I’ve been keeping an eye on. I’m curious to see whether that RSI level being tapped repeatedly will break for a move up, or hold strong to push price further down. The tightening up of price/smaller body candles are a sign that a big move is coming soon, one way or the other. My gut says we see a quick move up to trap some bears, but not seeing any clear signs just yet.
XBTUSD: Expecting more downside, after many failing retests.Expecting to see something like this over the next few days, as we continue to see bearish retests of former support now flipped to resistance. Shorts can be dangerous here, I'm focusing on catching longs on the levels on the way down. If I'm going to short at these levels, I want to catch the top wick or nothing.
XBTUSD 4 hr Mex Chart: Looking for the big swingsSome nice bullish movement on BTC this morning, looking to catch a wick to $3563 or $3630 for a short at some point, but may have to settle for the $3492 equal highs we see here and previously. Watching how the next few hours go before I change anything. Also looking for short term long entries at $3282(again) or $3250 if demand shows up again, could be for a nice bounce. Ideally, I catch the longs, up to the shorts and all the way down to $2814 or $2610, but we shall see. Some sideways action on BTC could let the markets breathe, and we could see A lot of big oppourtunities in altcoins.
ETHUSD 4 hr Mex Chart: Looking to catch some wicksSome Bullish activity this morning, but in my opinion it's got an expiration incoming. That being said, catching a top or bottom wick on the ETHUSD pair would be even better than doing so on BTC. The extra factors of it's lower price as well as it's pairing with BTC makes the swings(and gains) that much bigger. Would love to see some of these higher levels get tapped.
XBTUSD 1 hr Mex Chart: Bulltrap? Stop run? Retests to watchWe are retesting this hourly block from last week IMO, the spike last night was nice, but I'm pretty far from bullish at the moment. Watching how the retests of these highs goes. I would not be at all surprised to see another stop run up to $3920 and then a rapid dump for new lows. The red line at $3550 is the make or break level if we get down there. Anything short of a big bounce off that red line(possibly with a wick that goes lower) will mean we are in for much more blood.
XBTUSD 4 hr Chart:Where will the blood end? Looking back in timeWe are currently in this current range of $3550-$4498, with more downside on the horizon looking increasingly likely. We have yet to see a violent reaction that would indicate a bottom or reversal, so looking back to lat Aug-Oct may shed some light as to where we may find that. $3k seems all but certain at this point, but as each support broken becomes resistance, I'm starting to look more towards $2600-2800 for the potential big bounce . Trade safe out there folks.
XBTUSD 4 hr Mex Chart: Volatility=trapped bulls & bears galoreLiquidations are happening on nearly every move, after trading for months, maybe folks forgot just how drastic the swings can be with Bitcoin, here's how I could see price toying with the majority of traders for a while, though I hope it wont take so long to see a bottom+recovery, BTC loves to play with emotional traders.
ETHUSD/BitMEX: INCOMING RESISTANCE LONG 20XWhats up cryptopians!! As we can see ETHUSD has UPTREND, Above i have posted a chart of resistance points! If you are looking for a community to trade with on ZOOM in REAL TIME with LiquidMEX sharing his SCREEN then drop me a comment below or send me a personal message and i will send you the link to my platform where we are trading on BitMEX as a group. I also have trading courses that i am starting to mentor NEW traders on BitMEX as my reputation on BitMEX speaks for itself.
ETHUSD OVERVIEW
Tested resistance at 120 Rejected.
Will retest 120 when Shortly will breakthrough as BTC is going to 4700-4800 at the moment.
Personal Trading plan has not been established yet with ETHUSD though i will keep you updated on how i will trade this, Most likely with lower leverage around 20x with ENTRY at 117-119
!DISCLAIMER!:THIS IS NOT FINANCIAL ADVICE AS I AM NOT A FINANCIAL ADVISER. THIS CONTENT IS INTENDED FOR EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY!
XBTUSD 4hr Mex Chart: Bulltrap scenario, where's the bottom?Could see a possible bulltrap if we sweep local highs right before another dive down. $5k, $4k, $3k all seem like very real possibilities at this point for a bottom. $5400 being defended by bulls for the past 24 hours gives me hope that we are at least close to bottom, and of course we could just hold this range and get upward expansion, but I don't rule out if $5400 breaks again, things could go really fast, and $5k will be a blip like $6k was. capitulation
ETHUSD 4hr Mex Chart: Looking pretty much the same as BTCETHUSD looking pretty similar to BTC on the 4 hr chart, possibly more downside, but a lot of these larger cap alts with USD pairings have faired pretty well on BTC pairings after the initial dive down. When BTC would spike down yesterday, ETHBTC, XLMBTC, and others held strong, while XRPBTC and LTCBTC actually had some substantial gains. A market that is less reactive to BTC movement is a very good thing, and the more coins that have high volume trading again Fiat pairings, the less reactive the entire market will be to BTC movement. The difference is small currently, but gives a glimpse to how trading could change in the future. I have bids scattered from $165 down to $145, but the bottom could very well be in for ETH, it has held up very well after the initial losses in spite of BTC continuing to go down.
XBTUSD 4 hr Mex Chart: In search of bottom, yes, still.A $5k bottom would be somewhat poetic, as breaching the $5k line on the way up was a big hurdle before last year's bullrun. These lower wicks are evidence of some pretty strong buy support at these levels, but not quite enough to turn things around yet . I could be wrong, and things just consolidate here before they pop off, so I'm not looking for shorts unless there is an obvious LTF top I may try for a scalp, but mostly I am setting low bids that I expect to hit on some wicks.
xrp needs to return to its trendlineFirst Post. Here is my 2satoshi on current confusing situation in crypto market this week..
Currently broke down and target 0.5 fibo and return to trend line.. quite simple to understand.
Hope this helps you to make decisions..
Happy Trading!
ETHUSD: 4hr Mex Chart-How low can we go?ETHUSD is sluggish and flailing at this point. I could see this pattern continue with gradual steps down until there is a bottom, could be $192, or just keep going until we revisit lower lows, $166.35 is not out of the realm of possibility, but BTC would have to plunge down to sub $6k probably for that to happen.