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Localtop

I Can't Believe It. I've Gone Short on Bitcoin!Traders, True to form, though I rarely do this anymore, I’ve gone short on Bitcoin. My entry was immediate after hitting that resistance level at $60500 which I discussed in the last post. Target will be $48,300 Stop out will be about $63,000 RRR is nearly 5/1 I am confident here so I’ve risked nearly 50% of the trading portfolio. But I will definitely be taking profits at every level (see chart above) along the way. Best, Stew
INDEX:BTCUSDShort
by stewdamus
5
Taking Profit on my Bitcoin TradeTraders, While I have stated all along that Bitcoin could spike to as high as 55k, though 50-52k is more likely, my target of 48k has been reached and I am choosing to take my profits now. 48k is huge resistance and I will probably not trade again until future direction can be confirmed with a close above 48k and two more candles opening and closing above that same price. If that doesn’t happen, it means we should see a bit of a pullback here as hype and euphoria dies down. Additionally, you can see we’ve also reached RSI resistance exactly when we touch 48k. This is very significant. Watch closely over the next few days. It should be interesting.
INDEX:BTCUSD
by stewdamus
Bitcoin might be in for a pull back- retest supportJust when you thought you were out...they pull you back in! Top indicator on the scrypto is flashing a local top... Making me think maybe we pull back through reach so sub 40K prices 35K maybe? I might place a short as a hedge. in the short term, but on a large scale I think BTC will rally to its prior ATHs and maybe beyond....but maybe just not yet. Going into the weekend things tend to pump a bit, so I might like to start layering in a short come Saturday or Sunday night. Wish me luck... I have no idea what I am doing...I just do what the chart says.
BITSTAMP:BTCUSDShort
by BlockchainBreakdown
3
Litecoin will copy 2018-2020's cycleHey guys. As you can see on the Litecoin charts in the past, a noticeable ABC correction wave is visible. If we take the similarity ratios of 1.375:1 (490D & 357D) and apply it to the current cycle, we can determine the next local top. 70 Days * 1.37 = 96 Days from the C bottom correction wave. These numbers are from the May-July correction, based on the 2018-202 cycle, we can mirror that and possibly find a top. Expect in June for Litecoin to hit around $300-400. Safe Trading, -Pulkanator
BITFINEX:LTCUSDLong
by Pulkanatir
1
Could $40,417 be Bitcoin's local top? (Bearish lower highs)Please hit that like button if you appreciate the daily TA (technical analysis) I post regarding bitcoin every day 👍 Some factors that have really helped me develop as a trader over the last 8-9 months since i started from scratch as a day trader back after the March crash in 2020. What are they? Risk management gets brushed off as the least important area in trading but especially over the past few months I've realized just how true it really was. It doesn't matter how skilled with TA you are, or how good you are at reading the markets, if you simply aren't doing what's crucial to protect your capital each and every trade within 90 days that account will have been blown up, probably way sooner too. Plan your trades and trade your plans, don't be greedy, this journey is a marathon not a sprint race. There's always going to be another trade out there, take profits regularly.
COINBASE:BTCUSDShort
by YurloTrades
4
BTC- Go lower in order to bounce higherHello traders! Despite the 100 millions long liquidation and the drop of 10% open interest during the epic bull trap last week, the maximum selling pressure still seems far away. The only way to go up is to dip down further in order to reach for more selling liquidity. I believe we will continue to see more moderate supply runs follow by weak demand runs until strong limit sell orders and sell walls show up with the conviction. Of course, not completely ruling out the possibility of the bull flag momentum run yet. Though unlikely judging by the weak daily buy volume. Please click like and follow me if you find my analysis useful. Happy trading :) Please do your own due diligence and research. My analysis is only my opinion, not the investment advice. twitter.com
BITMEX:BTCUSD.PShort
by Libratus
1
Short - BTC - Trading OpportunityExpecting some downside after all of our targets were hit on the long call. Starting to see some bearish divs on the 1h and 2h with low volume pumps. Entry: 8294.5 TP 1: 8077 TP 2: 7741 SL: 8466 CryptoCue is not providing investment advice and is not taking subscribers’ personal circumstances into consideration when discussing investments. Investment involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire position. CryptoCue is not registered, licensed or authorized to provide investment advice and is simply providing an opinion, which is given without any liability or reliance whatsoever. The information contained here is not an offer or solicitation or recommendation or advice to buy, hold, or sell any security. CryptoCue makes no representation as to the completeness, accuracy or timeliness of the material provided and all information and opinions provided by CryptoCue are subject to change without notice and provided on a non-reliance basis and without acceptance of any liability or responsibility whatsoever or howsoever arising. You hereby irrevocably and unconditionally waive, release and discharge: (a) any and all accrued rights and/or benefits you may have against CryptoCue in respect of any opinion expressed or information conveyed by CryptoCue at any time; (b) any and all Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time; (c) CryptoCue from all and any claims (whether actual or contingent and whether as an employee, office holder or in any other capacity whatsoever) including, without limitation, Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time. ("Claims" shall include any action, proceeding, claim, demand, judgment or judgment sum of whatsoever nature or howsoever arising.) You hereby agree to indemnify and hold harmless CryptoCue in respect of any and all Losses paid, discharged, sustained or incurred by CryptoCue in the event of bringing any Claim against CryptoCue. (“Losses” shall include any and all liabilities, costs, expenses, damages, fines, impositions or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of earnings , loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses and any associated value-added tax) of whatsoever nature and/or judgement sums (including interest thereon).)
BITMEX:BTCUSD.PShort
by ElMomento
ZRXBTC Local Top? | Bearsh Divergence | Parabolic Rise Hello Traders, Today’s chart will be on ZRX/BTC which may be putting in a local top that is accompanied with a potential bearish divergence. ZRX has risen in a parabolic manner a correction or consolidation is highly probable. Points to consider, - Strong bull trend on 4 hr timeframe - Price tested structural resistance (fake out) - Local support between .50 and .618 Fibonacci - Stochastics projected downwards - RSI respecting downwards resistance - EMA’s holding price support - Noticeable increase in volume - VPVR decreasing in volume of transactions ZRX has had an impressive run from accumulation zone but now looks very over extended, a consolidation or correction phase is highly probable and we do have some early signs that suggest so. Price has tested structural resistance; this could be the potential local top due to wicks as sellers are very strong in this area at current given time. Local support is between the .50 and .618 Fibonacci level, this is a good retracement zone if price where to correct from local top. The stochastics is currently projected downwards, we do have stored momentum in this direction if this bearish divergence where to play out. RSI is currently respecting its downwards resistant line, clearly diverging from price which puts more emphasis on the bearish divergence… EMA’s is clearly holding price as support, we are still is this parabolic rise until we break the EMA’s decisively as this will negate the market structure. Volume is currently above average, we do have noticeable increase in bull volume, if price breaks structural resistance, bull volume will then need to sustain to avoid the chances of being a fake out. The VPVR is quite interesting as it clearly shows a decrease in volume of transactions from current structural resistance and local support. This shows us that price maybe even more probable to retrace to local support due to the lack of resistance being provided by the VPVR. Overall, IMO, ZRX needs to correct from current levels as this parabolic trend has been over extended, we do have clear signs of a bearish divergence playing out. We may consolidate to cool of indicators or we may correct to local support, putting in a higher low in the trend. What are your thoughts? Please leave a like and comment, And remember, “Trade the market in front of you, not the one you want!” – Scott Redler
Short
by AzizKhanZamani