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ridethepig | Bitcoin for FED📌 ridethepig | Bitcoin for FED A superb live example of sellers attacking far out on the flank! These are unusual markets to say the least, rarely has the fundamental/macro picture fitted the bill. Now the correct way to proceed is to hammer at the minor support once breached and aiming for a sweep of Jan 4th lows which are now hanging. It is now obvious that our pivot point and trail stops held in the minor ABC inside the (iv) flow after an excellent defence. With the hurdle cleared, any weakness at the lows here should be sold into as a breakdown is quite tenable. Invalidation comes into play now above our latest 'C' at $34,888. I hope tracking this low live has been of some use... thanks as usual for keeping the feedback coming 👍 or 👎
COINBASE:BTCUSDShort
by ridethepig
10
ridethepig | Jan 4th Low are Hanging!📌 ridethepig | Jan 4th Low are Hanging! Buyers were hoping to play a ' manoeuvre ' on the pivot level (worth considering that sellers were not having any of it!) the rejection was a flawless setup and quite rightly trailing our stops with some breathing room was the right move . In order to establish a breach of the Jan 4th lows permanently(?) on this next move, sellers had to achieve this at the cost of a pullback but can now force continuation , for the win. All perfectly natural and inline with our trailing stops. With 'A' already taken in our ABC , the 2021 lows on Jan 4th are now hanging. A simple break of minor support at $30,900 will be enough to open the momentum . Clearly this final swing is getting slippery, so we need to define some parameters for reassessment . ↳ If we cannot break below the $30,900 minor support over the coming sessions, it will indicate the start of an impulsive leg cooking towards $39,200. Thanks as usual for keeping the feedback coming 👍 or 👎
COINBASE:BTCUSDShort
by ridethepig
7
ridethepig | BTC Market Commentary 20.01.2021📌 ridethepig | BTC Market Commentary 20.01.2021 In this position (from the $39,000) highs it's time to protect our portfolio as we try a third time to get the breakdown. This has happened in drastic fashion and a great live example of good position management. The pullback came surprisingly close to our trail, before the old shorts started cheering again at the thought of another fight! Now sellers have to simply win the lows to complete ((iii)) which will be enough for us to trail our stops from (ii) to ((ii)) ...the over protecting will ensure we are strategic and decrease our radius of risk. Just one more diagram (since we are tracking the MT chart) in all its forms we will need a whole new thread dedicated to the final wave in this impulse once we complete our 4th wave retrace. I hope all is clear... if not feel free to shoot a message below or via DM.... To put simply, after (iv) is complete we can update the Weekly and Monthly charts. Why? Because the pullback here is 🔑 to the slingshot that we are tracking later in the year. And in fact, after a test of $28,000/$27,000 a lot of the retailers will be cleansed and allow the remaining warriors an excellent chance for positioning. Thanks as usual for keeping the feedback coming 👍 or 👎
COINBASE:BTCUSDShort
by ridethepig
23
ridethepig | BTC Market Commentary 2020.11.21Lets start by measuring the enthusiasm, the radius of the attack by looking at the previous diagram and understand why $21,000 is key for unlocking the next chapter: All is clear...Buyers have the control, there is very little to prevent the test of fresh all time highs, meaning we need to keep an eye on the impulsive extension target at $34,820; this game is very one sided. Not only should we still be holding our longs, dear reader, but laugh and continue to add more! So, let us stick to the plan, manage the risk appropriately, watch-out for any Power Grid 'attacks' that can provide well-timed dips providing buying opportunities, we have more than enough ingredients in the pot! Back to business as usual here with a fresh round of map updates coming over the next few sessions... Thanks as usual for keeping the feedback coming 👍 or 👎...
COINBASE:BTCUSDLong
by ridethepig
2
ridethepig | BTC Market Commentary 2020.10.20📌 Bitcoin - October 2020 Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility. Next comes the wave 3 target at $12,364. And buyers are not particularly favourable to break through without a retrace. The correct course is to take some profits and reload from cheaper levels. Rinse and repeat. And now, I present the whole macro flow chart, because of the log-chart breakout it is a good example of how even strong hands and advanced players are frequently unable to understand the core strategy. Thanks as usual for keeping the feedback coming 👍 or 👎
BITMEX:BTCUSD.PLong
by ridethepig
4
ridethepig | The Nature of the Work Breakouts and impulsive swings 📌 @ridethepig June Map Buyers had the move and played to exchange at the key support lows, which despite the length of compression can also be expressed in an impulsive breakup in no other terms than: Buyers in full control and gunning to take out the highs in the compression range. I managed to carry out the deeply laid plan towards the second target although it should have been broken on the first test in my opinion as was well within reach. I see no other ending here than for BTC to outperform, the 'ideal asset' for a time when confidence in the public sector is diminishing by the hour. Things proceed as follows: buyers load the 9012.x lows and accumulation begins. And now that we are finished with this phase we can clear the way for buyers to test 10,800.x into August. Here the only prevention can come from state bans on exchanges although the inevitable outcome in this case would be, as many know, private markets and auctions. In the swing cooking here, buyers are liberated from the grips of compression, an interesting setup! How keenly will buyers attempt to achieve the ground? Where are sellers stops? Why? For those wanting to further the conversation we can track the inner flows together in the comments below. Thanks as usual for keeping the feedback coming 👍 or 👎
BITMEX:BTCUSD.PLong
by ridethepig
13
ridethepig | BTC Market Commentary 2020.06.17📍 A highly interesting move for BTC would be followed by triumphal progress at the $9,000 lows again... The main feature of interest to me is the lows played on 11th and 15th June. It has a strong bid as a barrier and was well backed up, by the 2nd June lows. The next climax to the attack can begin over the coming sessions, what we need to be asking ourselves: What are the chances? Why would they buy that..? Start writing things down... If this goes up? Why would they sell it... write stuff down. You can build a powerful argument, getting under the back of a successful halving, confidence in governments and risk appetite etc. I hope this gives you a good idea of how to find cheap discounts - if you are a buyer, you start to look below... look for context; where am I? You can say you will pass on $9,000 but instead stick a limit in at $8,900 ... sure something can happen outside of markets on the virus front and we may have to work it out, it might be bumpy, but we can pan the idea, as long as we keep a cool head you can ride through the bumps. Lets get it done. I'll leave it at that....Hope it helps to make lives easier, keep at the grind and keep the feedback coming!
BITMEX:BTCUSD.PLong
by ridethepig
5
ridethepig | $16,000 In Play For BTC !!!As expected... an interesting day for BTC and other major Cryptos with risk under pressure once more from the latest Apple announcements. There is little to update on the fundamental side, with BTCUSD finding support at $9,500 as expected. Risk is likely to remain under pressure today so buying dips is and remains the strategy. A break of $10,000 will likely see further upside towards the $13,000 initial swing target as stops and momentum buying kicks in. For those following the BTC swing from $6,600 it has been a very easy ride: You will notice how the advance was clean as troops were marched towards the border: Destroying the defence ...like a knife through hot butter: CME Launch was superb news for BTC... we made it in the big leagues: The question then became centred around seizing the breakout... Before transferring the attack from a simple retrace towards an impulsive nature: You will notice the momentum kicking in now, all dips will attract significantly more demand interest. Those in from the lows its time to sit back with a huge grin on your face. This has been a clean and simple ride with a flawless example of trading a +60% move... I hope it has helped... Thanks guys.
BITMEX:BTCUSD.PLong
by ridethepig
2