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Looking at possible failure for EOS to exit long term channelInvalidation occurs at another test of the recent highs. Targeting upper 4.5s, then 4.2s, then looking for a reaction upon upper channel test if it occurs. R of this trade: 0.5:1 3D chart showing the formation of the horizontal channel. Picture in case the idea is scaled oddly in the published chart. Futures premium from FTX, on a Bybit chart. They're all priced about the same anyway, and the main chart series does not affect the futures premium formula.
BITFINEX:EOSUSDShort
by NeoButane
8
Looking at possible retrace for bitcoin based on March futuresWhile spot/perps did not hit the holy $50000, many March futures did. Mostly complete list of exchanges that breached $50000: Deribit OKEx Huobi Binance FTX BitMEX Surprisingly, CME and Bakkt's March futures were unable to break over $50000. CME's June contract did, however. REASONING Futures play a huge role in leveraged trading. I have seen this happen with OKEx's quarterly contracts before. I don't expect a drop to doom, but I also do not expect bitcoin to rush into $50000 within the next few days. Invalidation if March futures run 50k again and bring spot/perps along with it. Unsure of short target, would likely be ideal to buy the dips.
FTX:BTCUSDShort
by NeoButane
5
XRP - These moves aren't ripples, they're tsunamisIf you like to trade internet beans, then you already know about the SEC suing Ripple for selling unregistered securities. If you like high volatility, then you probably trade XRPUSD. I present to you: a short setup. The Binance indicator isn't always so easy, I believe it's because of the regulatory scrutiny that makes larger players uninterested, and those who are already long interested in exiting their position. Target is a double bottom for a -25% move down, which is realistic for the current range. Stop is ~$0.31; if direction were to flip bullish the high volatility would make a wider stop needlessly increase loss. A note on long term price prediction: Japanese company SBI has invested heavily in $XRP, and $XRP does not face the same issues that it does in the U.S. I don't expect this coin to die and it'd be nice to see what's to come in the future for cryptocurrency being utilized not for speculation or defense against inflation.
Short
by NeoButane
XRP - A fundamental case for a long term bias/tradeFacts: - SEC is suing Ripple Labs for the sale of unregistered securities - XRP and Ripple are not the same. XRP is the coin, Ripple Labs is the company - Unless Ripple Labs goes public, XRP it is not a security Bullish news: SBI, a Japanese company that has recently acquired multiple crypto exchanges in 2020 and initially invested in XRP with company SBI Ripple Asia in 2016, is interested in a crypto index that is majority XRP SBI offers shareholders XRP as dividend payouts SBI Ripple Asia is not being sued by the SEC SBI Ripple Asia is very interested in using XRP as its blazing fast remittance currency, and MoneyTap (not a U.S. company) will be using it. " Interbank transfer fees remained high in Japan and have not been changed for more than 40 years, which is unusual by international standards. " Japan's regulatory body FSA has already declared XRP is not a security .
BITSTAMP:XRPUSDLong
by NeoButane