Volumedelta
BTC- Technical & volume analysis (Keep your sweaty palm dry)No, this is not the worst crash ever... That would be the overstatement in the crypto world. BTC dropped from about $10500 to $3600 from Feb 13 2020 to March 13 2020. During that stretch, BTC price went from 9.2k to 3.6k in one week alone from March 7 to March 13.
How will the price action play out?
#1 Scenario- Bullish reversal, then price consolidates for a while inside the supply zone before it breaks out (more likely) or break down (less likely).
#2. Scenario- Bullish reversal, then price gets rejected inside the supply zone and heads straight down to the demand zone.
#3. Scenario- Price goes sideway for a while then breaks out or break down to the demand zone.
#4. Scenario- Price crashes below the ATH of the previous market cycle and it's game over for everybody (Doomsday scenario).
As always, it's about playing the long game here. Don't try any reckless trading at this point at the expense of missing out on the long-term cycle.
DOGE- Bullish reversal or Bearish continuation?This swing setup might be overly conservative, but given the uncertainty of BTC price and the complete lack of fundamental of DOGE. I tend to be extra careful when my swing trade has no chance of turning into the long-term holding.
Just my two cents. Not the trade advice.
DOT- Thriving ecosystemDOT is no Ethereum killer as many of its parachains within the ecosystem are using Ethereum blockchain and not native to DOT. Nonetheless, it is quickly becoming the force to be reckoned with acting as a base layer for many interesting use cases within the DeFi space.
On of my potential long-term plays in crypto. Good time to continue to accumulate at various support lvls as BTC continue its retracement.
Not investment advice. Do you own due diligence.
YFI- Poised for another unYFI is highly volatile and can go anywhere, but the recent deep pullback tells me that the selling pressure is waning.
The remaining selling pressure is being absorbed by massive buy walls spotted on Binance early this week, indicating the potential whale accumulation.
The risk to reward ratio is too good to pass up on considering the fact that the price lvl is sitting on pretty strong support.
Allocate the small % of your capital, set the stop loss and proceed with the caution.
Just my opinion, not the investment advice
LINK- Massive distribution nears the endAfter the massive distribution and deep correction ended at fib 61.8 and EMA 200, it seems that LINK's buying pressure has returned.
I expect another re-test in the demand zone after the price reaches the supply zone because BTC is still short-term to mid-term bearish.
BYDDF- Versatile EV betBYDDF is both EV manufacturer and EV component supplier.
Since the market crashed in Sept.3, it has been the second best performing EV stock behind WKHS.
For now, I believe BYDDF's momentum is overextended and it is due for the pullback.
BTC- No match for the long-term resistance zoneThere is no sign of waning selling pressure yet and lower high/lower low structure has been established.
Bounce back is weak after the selloff.
Mostly likely scenario is for the price to come back down to the demand zone first.
Then, we go through a period of consolidation before the price takes off again.
APHA- Vastly under-valued gemAs usual, Cannabis stock is facing the risk of regulation and black market.
After extensive sell-off starting in March 2019, APHA may have finally found its bottom at 2.
Short-term may be choppy, but I expect the uptrend to continue as long as the demand zone holds. .
LEND- Time to cool offMakerDao, Compound and Aave are the three major lending protocols in the DeFi space. I think LEND has run its course and there are better coins to speculate on since it has already gone up more than 35x this year alone.
It may be facing a major pullback soon. Even so, it is never a wise idea to short a high momentum coin until the trend is clearly broken, which hasn't happened for LEND yet.
Bitcoin- Bearish retracement vs Bullish reversal? Answer insideHello traders!
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Short-term perspective- Derivative exchanges such as Bitmex and Okex (Both have high trading volume and oI) seem to be betting against bulls at this moment. Even though buying pressure was fierce yesterday at Bitmex, it was not able to break through major sell walls. More likely, we will see the BTC price retraces below 9k once the price reaches 9.2k-9.3k because the volume is on the slow decline as the price went up.
I would continue to buy on the dip up to 8.7k lvl as long as there is no violent price rejection at 9.2k-9.3k lvl. Of course, being cognizant of the fact that BTC could very likely be in the bearish retracement phase, keep the positional size small, stop loss tight and take profit aggressively.
Mid-term perspective- Strong technical confluence and sell walls are located around 9.5k-9.7k lvl. Even if bulls can blast through 9.3k, I see bears step in and potentially end this bearish retracement. Good time to flip short at 9.5k- 9.7k lvl.
If bulls can convincingly break through 9.8k lvl and find the support at the price lvl, then we can safely assume this little correction is over.
No matter what your directional bias is, I would definitely keep buy orders between 7.8k-8k range as I still believe that is the price lvl where bullish reversal/bottom for this correction will take place.
Until next time, happy trading
