Pta
Bias more on upside. be fearful when others are greedy and be greedy when everyone is fearful.
Many people will tend to stay away from cryptocurrency at the moment after many incident happen such as Luna coin, Crypto companies going bust, cutting employee etc etc.
However, looking into Bitcoin chart with 20k well supported, we may see some light in Coinbase at the moment.
Therefore, I will be greedy at this point of time to do a anti-trend trade with SL @ 42 and TP @ 80.
Break above 80, we may see 100 next to cover the small gap in 09 May 2022
Small upside before the bear resume3 important support
1) 30k Major support level (The break last week might be to wipe out all stop-loss before it recover)
2) Support by 61.8% Fibo level
3) 200days MA in the weekly chart act as a support around 29300-30k
Above 3 reason just to give some sign of dead cat bounce but overall still downtrend.
Post Trade Analysis: NASDAQ & WTIHey Traders!
In this video we go over a brief post trade analysis of the trades we've taken so far today on NASDAQ and WTI.
As a practice we highly recommend every one of you guys to actually perform a PTA on your own trades as it is literally the best way to improve as a trader as you will find your good and bad habits quickly. For example if you are not following your entry process you'll quickly understand that you should.
Anyway, we will make a longer post about this on Wednesday and explain it in detail, exactly what we do and why we do it!
All the best!
Bias bullish 04 June 2022
Chinese Tech Shares have been beaten down badly since the kick start of the tech regulation.
However, last week, couple of Chinese tech shares reported good earnings and with China border reopening may bring good news effect on it.
RSI showing bullish divergence.
Resistance: $0.90
Support: $0.64