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Optimizing Profits for BTC by Hedging!What's up everyone. Quick update for BTC. So, I'm still in my Short from above when I tracked the Rising Wedge + Bearish Butterfly, and because that position is in profits with plenty of play room, I've decided to keep the position open to absorb the capped out funding in a few hours + double-down on futures (or alternative account) to hedge into a long position to get ready for the trend reversal. DO NOT GET TRAPPED BY THE FUNDING!!!! Funding is capped for Shorts, however there are a lot of indicators pointing towards bullishness, including a local double-bottom, 1D StochRSI, 4H Stoch, 1H Stoch, 15M Stoch as well as a Falling Wedge that was already confirmed, Ichimoku Clouds + we already got very close to the 0.5 Fib Level on this retracement we had today. All of this + the high funding looks like a set trap to get some juice for a short squeeze. My strategy for this is to stay neutral and practice risk management for optimum profits with this funding opportunity. Stay frosty. -Wolfie
BITFINEX:BTCUSD
by TheWolfofPoloniex
5
BTC to 8K or 11.5K???Hello everyone, I have taken a close look at the BTC price structure and analyzed what the market is currently showing me on the BTC/USD Bitfinex 4H Candle sticks. ==================================================================== 1) RSI, Stoch RSI, Momentum indicators are all neutral smack in the middle. 2) Full wave structure of the run or as close to what I believe it was, is here, labeled as ABCDE on the Primary movements. 3) With that, we have support zones identified, green is good support, yellow is weak and blue is strong support. 4) Red is resistance zones with a massive overhead resistance at just over 11k... 5) Looks like a symmetric triangle... ==================================================================== Based on this information we are in 1 of 2 scenarios. ==================================================================== Scenario#1 -Large correction before the next movement, retrace of ABC along the big red letters. -Stop at the green support area a 3rd time before moving up is unlikely, more likely is the stop to the blue area at around 8k. Scenario#2 -We are following extended impulse waves with I,II,II and so on... -These are indicated by the teal Roman numerals. -A drop below the weak support, as long as it doesn't break the triangle does not violate the starting point of the impulse waves. ==================================================================== I usually don't analyze something unless I have a position in it, but for BTC, I made an exception as it indicates overall crypto market direction. Based on what I have analyzed, I have decided to stay out of the market as the direction of the price action is a dice roll with a higher chance to the down side. Why do I believe the down side is more likely? Because of the resistance zone and psychological barrier of $10,000.00. -I will enter a buy if BTC passes 10k and finds support along the old resistance level at point 4. Will set an appropriate stop loss of 3-5% with a potential gain of 10-14%. -BTC will make a choice before the end of the triangle... watch for it, up or down. Worst case scenario, it could take all the way till May 4th. -Who knows, maybe it will be a Cinco de Mayo price celebration! **With that said, I give you my final disclaimer. I am not giving financial advice in anyway. Any trades you decide to take are 100% your responsibility. That means you take on ALL the risk and at the same time ALL the reward or loss. Before you trade, I recommend doing your own research and never trading more than you can afford to burn to roast some yummy marshmallows. -May BTC, reach Mars before Elon Musk
BITFINEX:BTCUSD
by gendark2
ETH USD Possible MovesHello everyone, Looking at the 4H time frame, I give you a set up which might take place in a realistic time frame. Before I begin, I want to give you one huge disclaimer. ***The top of the market is not yet known before the retracement.*** With that out of the way, were going to assume the top price for ETH will be 623.21. Using that, I have drawn a FIB retracement utilizing the price action from the lowest price on the momentum indicator of 497.31. This gives us our retracement levels. With that, my idea is this: 1) There will be a retrace to the 0.382 (As there usually is in most bullish market moves.) 2) If there is a clear accumulation such as the previous move, feel free to buy a position with the 0.5 area acting as a stop loss. (Or better support area, if you find one that is.) 3) The price action according to the indicators should move accordingly, ETH up to either a double top after accumulation or a breakout to a price of $670ish. Other Scenario: (The ideal set up) 4) ETH and market drops for a correction to the $500 area, which appeared to be support for the previous accumulation. BUY this area. (RSI should be around 40 on the 4H chart with a nice candle set up before you purchase.) Keep your stop loss tight, just below $480. 5) In the second scenario, price action can make a higher move into the 700s, Ideally $750. 6) If the price action fails to a stop loss, It might continue to fall again, and who knows where it will stop. Last but not least, what I write here is NOT financial advice, with any market trade you assume 100% of the risk and at the same time 100% of the reward. Do your own research before buying anything! -May BTC reach Mars before Elon Musk
Long
by gendark2
IOTA: A Story of Weak Gen 1I do not believe in IOTA's coin as having speculative value in the long run. However, they have an interesting cryptographic protocol. The chart contains my explanation as to how some alt coins like IOTA are affected by a weak Bitcoin, which in my opinion is the sole reason as to why IOTA has seen a price increase as of late. I may be wrong and I probably am on this one, but this chart was a favor for a new friend. I appreciate your commentary and insight. May God and the tidings of universal consciousness bless you all. For more of an explanation on how the chart was made, here is a link to a Google Docs PNG (picture) file with written explanation : drive.google.com
by SgtOuiOui
Observations of VTCThe 50 EMA acts like support, plus the support trend lines. The 20 EMA needs to stay above the 50 EMA for VTC to stay bullish. There is a bullish divergence, which signals VTC will go up. I think it will hit the support line one more time before going to test resistance again. However, one indicator doesn't make the market, so the other options are: falling through support and acting out option 3. Option 2 is the bounce off the current support line. Option 1 is straight to the resistance line. Option 1 is also likely due to the double bottom it recently had. However, the last big red candle seems an indication that the bears hadn't had their fill yet.
V
by Woolhead
BTC Bearish or Bullish? +24 Hours LaterBITFINEX:BTCUSD Everywhere online over the past few days I've read and heard of a number of opinions from people, either bullish or bearish. Short this or go long on that. Personally, based on my past predictions you'll notice that I focused on staying neutral for good reason. A short position 24 hours ago may have very well been a good opportunity and I'm sure the few people who rode that section of the wave enjoyed nice profits between then and now. Hope you got off before it turned around though. My sentiment at the moment is that the current market volatility is too 'extreme' for me to jump in on new positions. I say this because over the past couple of weeks there has been quite a bit of government regulation, especially in China which caused a big change in the market dynamic and leading exchanges globally. Let's not forget about the FUD from financial titans but I'm not here to propagate their agenda. Right now according to Coinmarketcap, Bithumb is leading in market trade volume making South Korea the leading "crypto exchange hub" at the moment. Also, I rarely expand my trading portfolio based on feelings or impulse unless there was a significant change in market dynamic that I'd missed prior to securing positions for the long term. That being said, the chart listed above shows that yesterday's price change between $4000 and $3600 shows us that the market was mostly bearish. The break below the 0.618 retracement level indicated a significant downturn and I'll be monitoring the charts as the next support level develops around the 0.5 retracement level. The last correction support level is what I would expect to be the most extreme price correction before a significant price turnaround. indicates a potential correction to find support at 0.5 retracement before turnaround to . Any significant change in price will call for an updated prediction on my part. The price also broke below the moving average and is holding steady at , we'll be watching that for future predictions. Please note that my views are not to be considered trading advice or knowledge. My thoughts on this matter are exactly that, thoughts. I will not be held liable for losses on your part after your decision to follow what I have mentioned here. That being said, Thank you for reading my perspective. Leave your thoughts below.
BITSTAMP:BTCUSD
by doomnometron
NZD/USD tries to reach 0.7310Daily outlook - NZD/USD tries to reach 0.7310 The rest of the previous trading session the New Zealand Dollar expectedly spent in a gradual advance against the US Dollar, trying to reach the weekly S2 at 0.7310. At the moment, it still has not reached the target even with the help from a release of information on the US CPI. On the other hand, such slow movement is in line with the general market sentiment, which is only 55% bearish, as well as with the summary of various technical indicators, which projected horizontal movement. It is quite possible that the pair will manage to bypass the above-mentioned resistance and jump towards the 100-hour SMA near 0.7319. If the surge will be stopped at this points, that would be a final evidence of existence of a falling wedge.
by UnknownUnicorn890690
Thoughts on Crude Oil Brent I haven't been too involved with Crude Oil, mainly because as I saw the trend moving up, I didn't enter when I wanted, and the last thing I wanted to do was chase a rally. So, I stood on the sidelines observing, see what my hypothetical entries and stops would've done. Looking at it now, I see a longer term wedge pattern forming in the weekly charts. Now, when I go into the daily charts, I see Crude Oil falling towards its 50 MA. If it bounces off of this average, I am looking then at the resistance price line of 56.89. If It can break through that resistance line, we might have enough momentum to break up higher. Another reason for this would be the short positions would probably put their stop losses right at that level, creating a virtual short squeeze zone right above support. However, the reverse would be true in theory for the long side of the trade, with most people putting their stop losses right below that 50 MA. Either way, it'll be interesting to see how this plays out. Trying to work more on investors psychology through the TA in charts. All the best, RC
C
by BrandonBeylo