My thoughts on BTCDecent bounce from original sell off, i don't like the lack of volume, bearish pattern and the rejection off 61.8 fib level.
Anticipating a move to the downside in the next few days but will wait for confirmation.
Leveragetrading
My current view on BTCGreen box is where I will be adding leveraged long with a stop loss under 9k. Furthermore, if we continue to downtrend and break under 9k it will get bloody but I believe we will get a lot of buying pressure in this zone and that bulls will take the lead.
Bitcoin - Rubberband Effect ~ BTC, BCH, LTC, ETHWelcome to our enTHUZed trading community!
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Whales and Institutions EAT up over leveraged gamblers in BTC!Time and time again we see whales crush over leveraged positions - today it is a combination of institutional investors and whales taking YOUR gambled money! We have seen these wide range trends since BitMex and it has only gotten worse as more leveraged trading exchanges are available globally. Don't lose your hard earned money GAMBLING in a market you do not understand and cannot T/A reliably.
Blue box = liquidation zone for over-leveraged longs and shorts
Do not rely on T/A in the Bitcoin market, time and time again, the charts setup for "obvious" moves in T/A and whales/institutions crush the 10/20/100x leveraged traders because the market has such small liquidity and can be moved very easily.
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#xbtusd - Neutral Symmetrical Triangle on 30mHello fellow traders & friends,
most of you will already have recognized this symmetrical triangle with an APEX of the S2-D. It´s usually a structure, that does not give away much on a small
interval like this. Due to the fact we are edgy to see low 8k´s, I still would like to see this noticed. In the recent past, these patterns ended up in a fake out, leading into further ranging mode,
before the next bigger move like we have seen the last support breaking at 9.2k, bringing us down here.
Currently we are also sitting on the S1-Weekly Pivot support, if this does get broken down and tested, anything until Weekly-S3 would be not extreme. ($7653)
What is ahead of this is the Yearly Pivot just above $8k, and I am expecting long orders placed around this number ($8050-$8150)
Looking at the full picture of the formerly mentioned potential diamond bottom pattern, I don´t want to see one or two weeklies closed below $8k, if that
happens I am going to change my general expectations to red numbers.
What currently next to the Weekly-S1 is holding us at this level is the SMA50 on Daily and I can´t say I am happy the Monthly Pivot got tested and rejected from below.
Overall still not bearish just YET. We have a lot of support where this can turn bullish from without anyone expecting it.
Stay safe and set stops.
Happy trading.
Neru
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