XBIO short term targetXBIo is again growing but offers a lot of short opportunity. It should fall again back around $3.50.
Shortopportunities
DXY BEARISH CONTINUATIONDXY Analysis
Currently in a bullish countertrend in lower timeframe. Taking advantage of DXY correlation with the Major pairs.
Mitigated off 1 Hour inst. move to keep going lower. Expecting a retracement around the 78.6% - 88.6% fib area, liquidity area, imbalance in the market highlighted purple and following bearish countertrend structure. Taking it low to fill imbalance in the 4H highlighted zone.
Will be taking Short opportunities until we get a Break of Structure within the 30m minimum or 1H timeframe.
UPDATE: the Red Sea Path to the $5400 is Upon UsAs I stated in my last published idea, Bitcoin is falling and falling fast. Please put your pride aside and make money will you can while the market continues to tank before the regulators come in. WE ARE IN A BEAR MARKET! Let us not keep falling for the moon reversal that Bitcoin keeps fooling us with!
Now, with that said- lets get down to the numbers
Simply put, check out the dark red channel that will serve as the red carpet arrival to Bitcoins $5400 mark.
WARNING;;; there is a heavy chance that we will see some form of resistance at these places:
- $6000 mark-
-$5900 mark-
- $5780 mark-
All 3 of these marks (marked in orange on the chart) stand as one of the swings that formed a resistance to the price continuing its progression within this bear market.
+++PLEASE do not fall for the bear trap at these reversal levels+++
In closing, (HERE IS A LITTLE BACKGROUND) ::: I want you guys to know that I am an avid believer in the bright future of cryptocurrency. I was once a proud "HODLER" myself until I couldn't take checking my blockfolio every two days to see another 2k down the drain. Just like you I was convinced that, "you don't take a loss until you sell" - which is true. However, I have been shorting the market since the 7.8k mark and have made my losses back plus a healthy amount on the side. With this large amount of extra money in my trading account, I can now buy back the market once the regulators come- until then... I will be collecting and hope you guys decide to as well.
Short Position in NFLX After Earnings MissI'll be the first to admit that I've been bearish on NFLX for a long time. Long enough to see my short opinion be ripped to shreds as NFLX share price climbed higher and higher. For those that have followed my ideas on US Equities, you know that I am not a fan of highly leveraged balance sheets. Well, NFLX is no exception. NFLX Cash to Debt Ratio is 0.52, and their Equity to Asset is 0.20. Taking a look at Free Cash Flow per Share, NFLX came in at -$3.96, almost double the decrease since last year.
Because of this, I wanted to wait to see what their earnings report looked like. After all, with companies like NFLX and TSLA, I learned the hard way that it doesn't really matter how the balance sheet looks, as long as the company is meeting expectations and delivering on promises. I mean, NFLX is trading at almost 200 times earnings. 200 times. No company is worth 200 times earnings.
Looking at the weekly chart (once again, I'm trying to develop the habit at looking at weeklys to give myself a better look at the more powerful movements), NFLX appears to be overreached. Now of course they could scream even higher, pushing 250 times earnings, but I don't think so. Earnings came out and NFLX didn't quite meet expectations of Wall Street. NFLX missed on their International Subscribers, which is what I was looking for as a bearish signal.
Regardless, in my Paper Trading account, I shorted NFLX at 143.21 with a stop loss at $149 and an initial profit taking point of $120. This presents a Risk Reward ratio of about 7.71:1. I risked 1% of my capital.
All the best,
RC
