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Vjsharma89

ETH Prospective LONG Trade (Mid/Short Term)The volume on ETHUSD paid is good. Has bounced from the uptrend line from the bottom. Basing this trade on this uptrend line. XBT could make a move up here which should ETH Long. SL for Mid Term Trade Setup -> 110.20 at 3-5x Leverage with an extra stagger around 111(optional) SL for Short Term Trade Setup -> 119.20 and 5-7x leverage Pink lines are the mid term targets Blue lines are short term targets I'm going for a mid term setup.
COINBASE:ETHUSDLong
by vjsharma89
1
What's next for BTC?Previous/Current position? After a week of indecisive movements and volatility, we've made quite a lot of small LONG trades. We did go up $300 since my previous LONG Call. What's happening? BTC has been pretty volatile for more than a week now. The volatility is limited between 3900 and 3600. Now, we could trade SHORT from this channel's TOP or LONG from the bottom until, it breaks out in either direction. What's interesting to note is that volume is decreasing. With current volume, it is difficult to break out towards 4300. We have a wedge forming with the uptrend support and the neckline of the supposed iHnS. I believe a break of 4k will render the iHnS true whereas a break of 3600 will mean that the iHnS is invalid. So, if you wanna trade the break out, 4k and 3600 is where your orders should be at to enter a LONG or SHORT respectively. Now, with decreasing volume, a pump here would be meaningless as without decent volume, holding the price above 4k would be practically impossible. If we do not break 4k within next couple days, I believe we'll break the uptrend support, find support around 3500 and if that doesn't hold, look for new lower lows eventually. It's not easy to break out of this channel for good. As we saw previously, we broke the previous uptrend support but bounced back into the channel. In simple words, charts are still bullish whereas market is giving some bearish signs due to this delay in break out. Fibs Theory We didn't get a 61.8% retracement from the previous uptrend and bounced from 50% retracement. 1. Trend based Fib extension of the left shoulder's tip (3435), Neckline's beginning (4423) and the tip of the head (3121) - Green Rectangle 2. Trend based Fib extension of the neckline's beginning (4423), tip of the head (3121) and Neckline's second contact/previous high (4242) - Blue Rectangle 3. Trend based Fib extension of the current bottom/tip of iHnS (3121), previous high (4242) and previous low (3568) - Red Rectangle 4. Trend based Fib extension of the previous major high (4242), Previous low (3568) and previous high (3966) - Yellow Rectangle 78.6% of Trend Based Fib 1 and 23.6% of Trend Based Fib 2 defining the top of current channel 50% of Trend Based Fib 1 and 2 defining the bottom of the current channel Uptrend targets Using Trend Based Fib 2 and 3, we have 4733 and 5378 as possible targets. Downtrend targets Using Trend Based Fib 2, we have 2942 and 2139 as possible targets. Using Trend Based Fib 4, we have 2863 and 2183 as possible downtrend targets My sentiments Short Term - Bullish Mid Term - Bullish Long Term - Bearish How am I going to trade this? Considering we are still in an short/mid term uptrend, I wouldn't want to open a SHORT position here. But looking at the emerging bearish signs, this seems like a perfect scenario to hedge your position. HEDGE POSITION Open a low leverage SHORT Position in one bitmex account using proper staggers upto 4400. SL at 4450 Open a medium leverage LONG Position in another bitmex account using proper staggers upto 3440. SL at 3420 Keep taking profits regularly from both positions until we have a clearer picture. IF NOT HEDGING LONG is still the play until we break 34-3500 in my opinion. So setting up a LONG from 3450 to 3740 won't be a bad idea. What are my indicators saying? FOMO 4hour and daily, both are green at the moment. HTL 4hour and daily are both red and are at 3796 and 3742 respectively as can be seen from screenshots above. FOMO Momentum Scalper On 4hour, Momentum is low on either side since 30th December indicating indecisiveness. On daily, momentum is still in favour of Bulls
BITMEX:BTCUSD.PLong
by vjsharma89
How I trade ALTs?My Personal Alt Trading Strategy Bitmex trading takes up most of my time and hence, I do not get enough time to TA Alt Coins. Now, Bitmex is profitable, but just to scatter my risks, I ventured back into ALT Trading last month probably after a gap of 6-7 months. I came up with this indicators based ALT trading Strategy that I'm sharing with you all here. I use two indicators, namely -> 1. FOMO Momentum Scalper This is the leading indicator I use for this trading strategy. I created it a couple months ago and is available for FREE on TradingView 2. FOMO Buy_Sell_Indicator FOMO is being used in this strategy as a confirmation of trade tool. FOMO makes up for a big percentage of my Trading Decisions in any sort of trading. Unfortunately, it's not free. It's not really required if you can perform some TA or rely on some other indicators for confirmation. The links to both the indicators are at the bottom of this Idea. The Strategy 1. I've created a TradingView watchlist of decent to high volume Alt Coins. It shouldn't look like this on 1hr timeframe. 2. Added FOMO Momentum Scalper (Free) Indicator to my chart. 3. Added FOMO to my chart. 4. Choose 1hr Timeframe and go through the watchlist probably 6 times a day, every 4-5 hours. 5. Wait for a Buy Signal from FOMO Momentum Scalper. Looks like this. 6. Set an Alert for FOMO 1hr Buy Signal on the coin with FOMO Momentum Scalper Buy Signals. You can add an extra layer of confirmation if you want like FOMO HTL 1hr Crossover. I'm currently running with just 1 confirmation. Once the Alt Coin you are looking at has crossed over HTL comfortably (consolidating and HTL has started moving up), you can say that that coin is bullish on 1hr Timeframe. Problem is, with more confirmations, your profit factor on a trade will reduce. As most of the time, while waiting for a confirmation, you'll lose out on initial profits. For example in this case 9. I find the previous structural LOW and stagger to that low followed by a SL behind that low. I'm mostly running with a fixed percentage for my TPs instead of finding previous structural highs for TPs. Since, Binance doesn't let you add TPs n SLs at the same time, I'm using 3commas to add SLs, staggers and TPs at the same time. 10. Then, I set up the trade in 3commas and leave it until I come back to the charts. If I see that a couple of TPs have been filled and if there is a reason to let it run, I let the trade run or if it isn't looking good and a couple of TPs have been filled, I close the trade in profits. This is not a bot trading. It's completely manual. There is no point in letting a profitable trade to come back in negatives when the charts have started to become bearish. Sometimes, I move my SL well in profits for example at TP1 or TP2 and let the trade run if it seems a bit bullish with very little bearishness. 11. Rinse/Repeat. I strictly follow the rules I've set for myself. I do not run around messing with my trades if I'm in profits or even in loss. Let the trade takes it course. Examples 1. This trade went in other direction. Looking at the chart it was clear AION is downtrending but could be getting very close to reversal. Now I zoomed out and noticed that there is a possibility of Double Bottom. I decided that will be my stagger in case the trade doesn't go in my direction initially. And if it breaks double bottom prospects, it's obvious that it'll keep dropping/downtrending. So, there won't be any point of chasing it in case it doesn't double bottoms. I set my SL a little below the double bottom and kept my last stagger at the double bottom. AION ran 9% soon after. Proved to be a good profitable trade in the end. 2. Similar to 1. After running 3-4% a couple times, forming new lows (higher lows) this trade finally ran 9-10% Prospects of double bottom. Placed Staggers carefully. Staggering, proper risk management paid off in the end. 3. Couldn't find any immediate structural low except one before previous short term uptrend as shown in the chart. Hence, used that as a possible last Stagger and SL behind it Looking at the chart, one cannot find any possible reason to close the trade just yet considering, we would have the best possible entry in the trade. Improvement I would be keen to know if there is another indicator/timeframe that you've tried with this strategy or made any improvement to it. I've traded with this strategy for a while now. It works just the same on longer timeframes. For example on 4 hourly and daily. Let me show you some examples
Education
by vjsharma89
3
BCH Continuation of UptrendThings to note -> Forming a bull flag on the daily timeframe which is a uptrend continuation pattern. -> Has retraced more than 50% already. I would like to see it retrace to 61.8% before continuing with the uptrend. -> Forming a falling wedge on smaller timeframes. -> Has tested HTL on daily timeframe once -> Decent volume -> RRR is pretty good considering the next target is a bit far How am I trading this? Keeping Low Leverage as this is a long term trade for me. I'm spacing out my entries with last one being at 350 followed by a tight SL of course. What are my indicators saying? FOMO 4hr and Daily are sell signals which indicates that we could be heading down temporarily. To play it safer by risking not having a LONG position if it runs here, you could enter around 390 or lower Targets 465 530 590 648
Long
by vjsharma89
1
BTC - Beautiful SHORT. Time for Bulls to step in Previous Trades? Christmas didn't allow me to ride that SHORT properly. Made multiple small SHORTs as I was unable to look at the charts all the time. This is what I mentioned in my previous Idea. Opening a small SHORT position right now at low leverage and keeping more entries at 4150, 4280, 4420. I'll be taking profit around 3870, 3730, 3670, 3550, 3470, 3370 What's happening? The reason I say it's time for Bulls to step in is that if bulls don't step in right now, we'll break this big support area and head towards new lows. I'm betting on Bulls this time after that beautiful SHORT from 4200. You should have closed a majority of your SHORT here. I would suggest letting a portion of it run. Almost everyone I know in crypto space is seeing this massive Inverse HnS. All of my students in my private group are seeing this IHnS. Trading it should be a good idea right? Since, so many people are looking at it. Maybe not such a great idea. If this iHnS is in play, once the neckline breaks (4150 zone), there is little to no resistance between 4400 and 5000. Hence, a LONG position could prove to be extremely profitable. More profitable than a SHORT here to 2900-3000. This makes me think, if I was a Giant Whale and I wanted to dump my BTCs, wouldn't this be a perfect opportunity for me to empty my bags? Considering the orderbook would be filled with buy orders. Well, that's the negative me. A break below 3430 will invalidate the iHnS dreams for me and that is when I'll look for a SHORT entry. Not before that. The positive side of me thinks, even Bears would want it to go up from here, so that they can get a higher entry. Profit from 3600-2900 is obviously too small as compared to profits bears can make from a 4.4k or 5k Short. You can see an uptrend line. This line has been respected for now, but I think, it won't be for long. In a couple of hours, it'll out of the trend and invite break out traders, retail traders like myself to SHORT it to Low 3500s or High 3400s. Fibs Theory A drop to 3540 will confirm a 61.8% retracement of the uptrend. Trend based fib extension using previous high of 4420, this years low 3122 and current high of 4243, tells us that 61.85 retracement would be 3436. This tells me that if iHnS is playing out, 3540 to 3436 should be the area of reversal. My sentiments Short Term - Bearish Mid Term - Bullish Long Term - Bearish How am I going to trade this? I've very little contracts left in my SHORT. Will close them as we proceed closer to 3540. Got LONG orders in a separate bitmex account at 3550, 3496,3436 If we don't drop here, which is highly unlikely, I'll close my SHORT and wait for a retracement to get in a LONG position later. Will set a sell stop around 3420 to enter a SHORT position if it keeps dumping, invalidating the iHnS. What are my indicators saying? FOMO 4hr has been a sell signal since 4100. Daily is a sell signal which appeared yesterday. Holy TrendLine (HTL) Daily HTL is at 3744 4hrly HTL is at 3799 HTLs are red on each timeframe. Suggesting a bit more of a dump. FOMO Momentum Suggesting a Bullish Divergence on 4hr Timeframe (marked with pink lines). Gigantic Bullish divergence building on Hourly (marked with pink lines).
BITMEX:BTCUSD.PLong
by vjsharma89
9
BTC - Back to 3200 or form new high above 4000? Part 2Previous/active trades? After a powerful rejection from 3900, BTC consolidated at 3700 level for a level where I took profits on my SHORT from 3900. Was a nice 6% drop. We bounced from fibs I shared in an update on my previous idea. Then out of no-where we saw a high volume pump to 4116. I got stopped in Profit on that pump. Must admit I didn't see that pump coming. What's happening? BTC has double topped at 4170 on hourly timeframe. This could be the lower high (under 4420) mention in my previous trading idea. But BTC might make another move and if this move falls short again, we'll have to call 4170 the new top until we retrace to one of the following levels - 3860-3730 3550-3450 3370 In worst case, the retracement could end at 3370 support. If 3370 breaks, bears will be out looking for a lower low (2900-3000). Another interesting thing to note is LONG wicks in both directions signaling indecision. Usually at times like these, we see BTC's infamous BART moves. LONGing here wouldn't be the best course of action in my opinion since a double top and possible new lower high has been formed. Long wicks to the top is depicting high sell pressure. Fibs Theory According to trend based fib extension from previous low (3431) to previous high (4422) and current bottom (3121), 100% fib is at 4108. BTC has wicked that level. If 4170 is the lower high we were anticipating, trend based fibs for upcoming downtrend tells us that the 61.8% retracement would be around 3370. Ideal movement here on would be to retrace 61.8% and seek higher high after depicted with high opacity blue arrows. But 3730 is not a strong support which leads to 3550 being the next possible reversal level. My sentiment Short Term - Bearish Mid Term - Bearish Long Term - Bearish What are my indicators saying? Daily HTL is still at 3740. 4hrly HTL is at 3670 Hourly HTL is at 3872. It has provided support to this uptrend since the beginning. Would be interesting if we break it at 3870 and continue towards 3730. FOMO 4hrly is green. Had turned temporarily turned red after a reversal from 3900 the other day. FOMO 1hrly is red. FOMO Momentum Scalper on 4hrly is showing bearish divergence but it's not very significant (shown with red lines) How am I trading this? I'm in no trade right now. Opening a small SHORT position right now at low leverage and keeping more entries at 4150, 4280, 4420. I'll be taking profit around 3870, 3730, 3670, 3550, 3470, 3370
BITMEX:BTCUSD.PShort
by vjsharma89
4
BTC - Back to 3200 or form new high above 4000?Previous/active trades? We saw a nice move up today, finally breaking the 3540 resistance after 24 hours of struggle. In the process we did downward fake out invalidating the bull flag and ultimately hitting my SHORT SL. Found myself an entry at 3615 after a breakout from the downtrend resistance market in red towards 3800. Currently sitting under another major horizontal resistance 3876. Peaked to 3777. What's happening? I can see two trade opportunities here. 1. Reversal from 3800-3900 resistance. Considering the buy momentum at the moment, I think we'll easily get there and won't reverse until we touch the resistance properly. Marked with high opacity Blue Arrow 2. Break 3800-3900 resistance and form a new lower high between 4000 and 4400. Probably double top and reverse. We have a decent buy volume on the daily timeframe and if doesn't die soon, that should help BTC get to 4000-4300. Marked with low opacity Blue Arrows Market Structure Remember this bear market is here to stay for another 8-9 months at least And things can't just stay pumping left right and center in a bear market Major resistances here onward are 3800-3900 -> 4100-4300 -> 4800-5200 And breaking 38-3900, will confirm that 3200 is the new temporary bottom. Now, breaking 4300 will form a higher high and should take us to next resistance level of 4800-5200. This will form a new market structure of 3200 and 5200, until we break it in either direction. Breaking 5200 would end this market structure and bring us back to 6k. I don't see it happening anytime soon. We are too far from doing this. Breaking 3200 would prolong this bear market further to new lows between 1800-2900. Fibs Theory According to trend based fib extension from previous low (3431) to previous high (4422) and current bottom (3121), 61.8% fib is at 3734 (where we are sitting right now followed by 78.6% fib at 3899. 78.6% fib of trend happens to be 23.6% retracement of this drop from 6422 to 3121. This makes me believe that we'll see a correction of this uptrend from 3900. If we don't follow this, the next point of reversal from this uptrend would be 38.2% fib line (4383). I personally don't see it breaking 43-4400 and retrace 50% without making a correction of the current uptrend. My sentiment Short Term - Bullish Mid Term - Bearish Long Term - Bearish What are my indicators saying? Daily HTL is at 3740 That's where we are sitting at the moment. 4Hrly FOMO has been green since 3165. Might call for a retracement, if we don't reach 3800 soon. How am I trading this? I'm currently in a LONG with a Stop Loss in profits at 3700. I'll let this trade run for a while. TP some more between 3800-3900. But I won't close it in case we break 3900. Based on my Fib theory and 3800-3900 being a strong resistance, I believe we'll see a retracement soon. Trade 1 -> I'm setting up SHORT orders in a different Bitmex account as follows Initial Entry -> 3810 Stagger 1 -> 3860 Stagger 2 -> 3899 SL -> 3910 Trade 2 -> In case we break 3900 and my SHORT SL hits, I'm setting up market buy stop at 3920. Trade 3 -> In case we don't reach the resistance level (doubt it), I'll look for SHORT entry once we break 3500.
BITMEX:BTCUSD.PShort
by vjsharma89
7
Easy 100%. Perfect example of trading based on HTLAfter the Hard Fork mess up , BCH tanked with no hope to recover. What was supposed to be a regular "After Hard-Fork" phenomenon didn't stop at 100% retracement of the Hard-Fork pump. Formed new ATLs mutiple times. This beginning of downtrend can be seen at the break of HTL after the pump. We tested HTL 3 times. I made a post about this downtrend about to get over yesterday. If you were waiting for confirmation and entered around 265, you would have been at least 80% up at 5x leverage. Now all those previous attempts to break HTL failed. Unfortunately, I was asleep when it pumped this morning. Things to look out for 1. Check Daily FOMO Signal 2. Check 4hrly FOMO Signal This is how I was going to trade this. Wait for it to cross HTL (At 260 Sats). I would draw a horizontal black line at 260 to mark HTL. Now, there are two ways of doing this 1. Set a market buy stop at 270 sats to avoid any fake out entries and chase it with a SL. 2. Move to 1m timeframe. Set limit buy orders at 263, 262, 261 and 260 (marked with pink lines) as soon as it crossed HTL. Set up a SL at 255 I would have gone for Trade Setup 2. As it's safer. At the same time, I missed this pump since I was asleep. I wouldn't have if I went with Trade Setup 1. That being said, if it just flew past HTL and jumped 3-10% (no leverage), I wouldn't set up Trade 2. Because it could just come crashing down with the same momentum. This is why I prefer Trade Setup 2 over Trade Setup 1 Using the rules above Test 1 -> Trade 1 - Market Entry but Came crashing down. It's a long wick on 4hr timeframe. SL would have been hit. Trade 2 - Never entered as it was a fake out. Pumped 3-5% right after break out and came crashing down. FOMO Daily red too. Test 2 -> Trade 1 - Never entered Trade 2 - Never entered because FOMO Daily red. Test 3 -> Trade 1 - Never entered Trade 2 - Never entered because FOMO Daily red. Test 4 (Final Test) Trade 1 - Perfect break out. More than 100% profit Trade 2 - Perfect break out. FOMO Daily green for the first time during all the tests, Retrace after break out and pumped. More than 50% profit
BLong
by vjsharma89
BTC - Looks like we have a great setup for a temp uptrend here.Morning all! What's happening? We broke out of the falling wedge yesterday and are now sitting around 3500 resistance. 3540 to be precise. Consolidation below a resistance is usually a weak sign whereas consolidation above usually leads to higher highs eventually. Daily has closed as a nice fat green. The direction is still not clear. LONGs and SHORTs are both really high. Either of them will get squeezed out soon imo. Bull Flag has started to form on 4hrly timeframe. If flag breaks out and we continue to trend upwards, next target would be 3800 for BTC. For that a close above 3600 is required. - High probability If flag breaks down, I can see some consolidation in 3400 area heading back towards 2900 target eventually. - Less Probable in short term Going to 3800 or 4300 doesn't mean, BTC will not test 2900. But for now, the downtrend has been broken and bulls have a great opportunity to set the path to 4400-4800 It would test 2900 eventually. That's just how this works. What happened with previous trade? I was regularly updating my previous post on BTC. Made a bunch of Short Scalps until my SL at 3261 got hit. Took profits multiple times. In situation like these when there is lot of indecisiveness and a channel is formed, I adjust my SL to switch my trade from LONG to SHORT or vice versa. SL entered me into a tiny LONG that I closed earlier today. Not in any trades at the moment. Looking for one though. My sentiment Short Term - Bullish Long Term - Bearish How am I going to trade? There are multiple ways to trade the current scenario. I'm gonna go with the safest and least profitable one. Usually the safest trade is the least profitable trade. 1. Trade the Bull Flag - Medium Risk Wait for BTC to form a channel and enter at into a LONG position with a SL just under the channel. 2. Trade the break out/break down - Less Risk Wait for a break out in either direction and enter the trade at pink lines. 3. Wait for a confirmation on either direction - Safest Unfortunately, I don't like to trade based on a flag. I don't mind missing out on a trade that I'm unsure of rather than entering a trade that can easily run in unfavorable direction. BTC is in a No Trade Zone for me atm. What are my indicators saying? 1hr FOMO is red 2hr/4hr and Daily FOMO are green To my surprise FOMO didn't budge during that 3260-3180 channel. It stayed green and soon after that we pumped. Has been green since 3160. FOMO Momentum Scalper Daily has turned green for the first time since 6300. FOMO Momentum Scalper 4hrly is nicely uptrending. So, if indicators are to believed, we should be heading up.
BITMEX:BTCUSD.PLong
by vjsharma89
BCH's downtrend almost overBCHZ18 What's happening? Well, ever since that dump from Hard Fork, it has been constantly dropping. We are at Test 4 of HTL break out. Forming a symmetrical triangle too. Decision time -> Less than 24 hours My sentiment Short Term - Bullish Long Term - There is no Long Term with shitcoins. How am I trading this? I'll be keeping an eye on this one. A close above HTL would be a good entry point. I won't enter we close above HTL. BCH moves are usually big and very unpredictable. What are my indicators saying? FOMO 4hrly has been green for 3 days. HTL is green HTL 4hrly is almost touching the price.
BLong
by vjsharma89
BTC - When Bottom?What's happening? We made a bunch of profitable SHORT trades. After Multiple failed attempts to go down, volume-less dumps and bounces from 3120-3140 We are back to 3180-3200 I mentioned in my previous post that it's risky to be trading in this environment. I made a multiple SHORT scalps during this dumps. From what I can see, there isn't enough liquidity in the pool to go for a big dump and not enough buyers to go for a big pump. We have 1 Falling Wedge, and it's bottom is not tested yet. Testing the bottom will take us to 2900-3050 zone. Going through TradingView ideas, you must have noticed that so many people are expecting 2900-3000 to be the bottom. Now, we don't know know what the bottom would be but what do know that if it isn't the bottom, we won't bounce hard. That'll be a key thing to notice. If it is the bottom, the bounce from it should take us above 3300 I'm expecting a short push here to 3300 or just under it. If you love going against the trend, you can LONG to 3300 and follow your trade with a stop loss. How am I trading this? 1. I'll be doing SHORT scalps until we reach 3300 or at least mid 3200s. 2. I've got SHORT orders between 3230 and 3360 with 3380 as a Stop Loss. 3. If it doesn't get to 3230 or above, I'll let one of my scalps to run. 4. If we bounce hard (which won't be easy), I've a Stop Loss around 3380 to save my arse. Will re-evaluate the market if it's hit and see if next course of action is to go LONG or SHORT. What are my indicators saying? 1. FOMO 1hr,2hr,4hr and daily are all green 2. HTL is still red and we are still very much under HTL on 4hrly timeframe. 3. FOMO Momentum Scalper on daily timeframe is indicating decreasing sell pressure
BITMEX:BTCUSD.PShort
by vjsharma89
BTC - Worst bounce from Supposed Bottom!What's happening? This bounce and weak volume has made me fairly certain that 3200 is not the bottom. After a nice SHORT this morning, we have tested the bottom of the falling wedge I shared late last night. Volume is still not good. One would have hoped for volume to pick up after that bounce from under 3.2k. But nope! Nothing! Too weak. Trade Patterns These patterns, they will not always be accurate because there is always a chance of your trend lines being a little off here and there. Which is why I sometimes, draw the same pattern multiple times and as many different ways as possible. So, we have 3 Falling Wedges here. Falling Wedge 1 -> Drawn with a bullish perspective. If this is THE WEDGE, we won't see 2.9k yet. After breaking out from this wedge, we can jump to 3540 resistance. Falling Wedge 2 -> Drawn from body of the candles. This wedge could take us to 3k before breaking out to 3.5-3.8k (depending upon the buy volume). Falling Wedge 3 -> Drawn from the wicks. This wedge could take us just under 3k and call it a test of the bottom of the wedge and our 2956 support. I'm hoping breakout from this wedge will be "The Break-out"/"The relief rally" that everyone's been talking about since 5k. Now, all this depends on 2.9-3k support. It has to hold for these wedges to work out. Red Arrows depict break out from Falling Wedge 1. Blue Arrows depict breakout from Falling Wedge 2. How am I trading this? I've closed my SHORT from this morning in massive profits. I'm going to keep an eye at the bottom of Wedge 1 for a little longer. If we creeps above 3300, I'll wait for a break out from this wedge and make a short term counter trend LONG trade. If we break down from the wedge, I'll open a small SHORT. Coz if 2.9-3k is the bottom, it's not wise to hold a gigantic SHORT position so close to it. I'll be closing majority of my SHORT between 2.9k and 3.1k.Let the rest run with a Stop Loss around 3250. As I've been saying for a while now, breaking 2.9k will take us to 1.8k I personally don't like the sound of that. What are my indicators saying? FOMO 1hr -> Green FOMO 2hr -> Just turned Green FOMO 4hr -> Still Red FOMO Daily -> Still Green for last 3 days. FOMO Momentum Scalper -> 4hr timeframe is showing increasing sell momentum So, the indicators are giving mixed signals. Which is why not trading right now wouldn't be a bad idea after all.
BITMEX:BTCUSD.PShort
by vjsharma89
2
LONG LONG Term BTC Prediction/Market CycleBefore I begin, I want to make it clear that this is a simple price prediction based on fibs and assuming 2900 will be the bottom of this drop. The study is based on the market cycle and Fib extensions showing BTC's love affair with 4.23 Fib. Comparison with previous market structure's timeline 1. 1st Bullish Rally ($4 to $1150) lasted for 24 months. 2. 1st Major Downtrend lasted for 13 months 3. Consolidation/Recovery lasted for 12 months 1. 2nd Bullish Rally ($292 to $20000) lasted for 24 months too 2. Current Downtrend -> 13 months? Already been 11 months. Finish by Feb, 2019 3. Consolidation/Recovery -> 12 months? Feb 2020 1. 3rd Bullish Rally (4k to 70k) by Feb 2022
BITSTAMP:BTCUSDLong
by vjsharma89
8
Would we finally see $2900 BTC?What a boring 48hours! 1. Falling Wedge -. (+ve) Breakout 2. Descending Triangle -> (-ve) Breakout Doesn't matter in what direction it breaks out from these patterns, in the end, everything points 2900. It will happen. The question is when. I've never seen any commodity reverse it's direction in the middle of nowhere. Where BTC is atm, it's the middle of nowhere. Broke 3500 support. Has to test the next support. These are basic fundamentals of Trading. If a resistance is broken, the price seeks next resistance. It might not get to the exact resistance but it'll try to get there. Wick close to it or something. We haven't seen that move yet. Which is why I believe sooner or later, we'll get to 2900. I see no reason why BTC will call this home and move back up. After dumping $100 just now, we are sitting at the bottom of the descending triangle. Low liquidity weekend is here. The volume is any way dying. I just can't see it going up anymore. How am I trading this? Got into a SHORT earlier today at 3400. Closed it at 3360. I thought this side movement will continue for another 24 hours. Now, I'm looking for a decent LONG term SHORT entry. 3340-3400 would be a good entry. 3400-3500 is better and anything higher is frigging awesome for a SHORT entry. What are my indicators saying? FOMO 1hr -> Red since 3460 FOMO 2hr -> Red since 3420 FOMO 4hr -> Red since 3400 HTL -> Turned Red around 3370 FOMO Momentum -> Showing extremely low buy momentum which is dying slowly. When will I LONG? When I see a reason to. :)
BITMEX:BTCUSD.PShort
by vjsharma89
11