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Ethereum & Bitcoin - NFP Market Thought With the NFP data coming in hot for the USD, which is unfavorable for all assets trading against it, we are closely monitoring both Bitcoin and Ethereum. We anticipate a sweep of the lows to clear out some liquidity before the uptrend continues. For Bitcoin, we believe the current weekly VWAP or the current weekly VAL, supported by the pwVAH, should hold BTC. There might be a liquidation around 70k after a drop followed by a V-shaped recovery. Regarding Ethereum, we've been ranging since the start of June between the March VAH and the pmVAH. Given the sharp rise in the last week, it seems likely we'll retest the March VWAP or even the cluster around 3.4k, which we consider the "worst-case" scenario in the near term. To turn bullish, we need to reclaim the March VAH and hold it as support. If this happens, ETH and altcoins should have the momentum to surge, pushing ETH to 4k relatively quickly.
COINBASE:ETHUSD
by stromm_by_wmc
1
A few points that I often repeat to myself to sober myself upEveryone has noticed that after a profitable position, emotions of joy pass quickly than in a situation with a loss. Mostly we all know the instruments, we all use same tools, we can watch,read million sources about trading. So why less than 3% profitable on a distance? ⌛️Psychology A few points that I often repeat to myself to sober myself up - Your expectations, your problems! Just because it seemed to you that the price should have gone in your direction, does not mean that the market is against you! I understand that there will ALWAYS be losses! Therefore, I came to terms with this fact and simply treat trading as a job! If you open any other offline business, you will have costs and expenses, losses! It's the same story with trade! - I conducted a survey and see that the majority are trading from liquidation! I try to balance with 1% trades! Of course 0.5 is better. Plus you need to determine the amount of loss you can afford per day! It is best to stop at 2 unprofitable trades per day! Then you just want to win back again and again! - Pauses! You definitely need to take breaks! The number of trades absolutely does not determine success! Although I used to think that if I don’t trade today it means I’m not working! Not really, quality is more important than quantity. - Probably the most important thing is that victories or defeats in the market cannot and should not in any way affect my attitude towards life in general, my family, my health! It's just a job in which there is no limit to learning! --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
BITSTAMP:BTCUSDEducation
by Crypto4light
Bitcoin Oversold? Stochastic RSI Indicates Potential ReversalHey traders, I've been scanning the charts and noticed something interesting. The Stochastic RSI for Bitcoin is showing 'oversold' for the past 14 days. This could indicate a potential reversal is on the horizon. Surprisingly, I haven't seen much chatter about this. Keep an eye out, this might be an opportune moment for traders to consider. Always do your own research and trade responsibly. Good for a possible short term play not sure about the long. -M1ndless
BITSTAMP:BTCUSD
by M1ndless
ETHUSD SHORT ***UPDATE***Opening up a short position near the cloud was a risk and if I had not identified the cloud I wouldn't have pulled my SL. Thankfully I did adding more contracts in the cloud which is working out but to be honest was a dumb idea. The reason being was BTCs leg down was predictable as the cloud moved down on the daily and some of the divergences were pointing that way. Playing the alt game on short or long trades with leverage (Low Leverage) you always need to keep in mind what btc is doing. I will keep the short open however if we close in the cloud today I will pull the short for a small loss, I would rather take a small loss than being chopped out by the cloud. Under the cloud we could see some upward momentum but the sell off most likely will reject us out and back under the cloud. I will not readjust the time frame as it would be a waste of a trade to allow it to leave it open past this time frame.. This isn't the best trade it is extremely sloppy but fighting through it. These were just some thoughts on the short. "It's so messy." -Kewlkat
COINBASE:ETHUSDShort
by kewlkat
Fakeout or Breakout? The Shiba QuiverMany of us including myself were skeptical about SHIBA ever blowing up, when it overtook doge I got ready to open a short. Now that Shiba has broken out of the downward channel it's been trapped in for a while, I must ask the question: are we looking at a change in direction or is it just a false alarm? Skepticism in hand, there are a few news articles popping up about places accepting SHIB. Mac D is down and RSI has room both ways. I'm neutral on this, I'd love to know your thoughts below what you think will happen, and why. If we bounce on the green resistance and start to look up and steady, I might jump in and take a long shot, but it's not looking likely. This is most definitely not financial advice. Any input or criticism is always appreciated. Good day :)
by SaucyLettuce
2