I posted a graph on a higher timeframe before we had a decent drop in all markets: And I still stand by that, but on the lower timeframe, I see a falling wedge forming. The price action indicates to me that we are going to break up sooner rather than later, so this yellow arrow I have on my chart is somewhat what I expect :)
Personally waiting for bitcoin to come down to 42-40k range before I expect a real bounce and possibly a clean break through 50k area. If It flips 40k as a resistance, im looking to short all the way down to 25k
With the expected pullback, Im looking for a few different ideas for the upcoming months. Right now, it looks like we're headed to the 40k area and trade in a range a bit. I don't think we'll see another all time high before some time next year. Short term Im bearish, but long term I think we are headed to 125k for the all time high this cycle. My play right now...
BTCUSD: Ok so this is another scenario im looking at. By taking the bar chart between the two blue lines and placing it on the current trend, we get a really similar pattern. History tends to repeat itself, and even by adding a few orderblocks and fib retracement, it lines up. This I would say might as well be what we get the next month or few
Algo is looking good right now. Broke out of the bullflag and had a retest. Had this charted a while now so my bad for not publishing earlier. Im trimming a bit at each resistance line drawn
DENTUSDT is also looking like it wants to ripp with this giant bullflag pattern, as long as bitcoin don't do any funky business. Will take profit at the top of the green box, and keep a moonbag :)
Ok this is a risky one as bitcoin is at major resistance and we are starting REKTember, but this is what I will be playing with 1% of my port. This can go either way and im willing to accept that
ENJ is currently sitting at support, and I expect a move upwards if it breaks that line as drawn. Will dca if I get the opportunity ;)
Ok, this is very early to say yet, but I expect us to have a little move towards to the upside real soon, and how its going to be played out might be this inverse head and shoulder. Worth to watch if we manage to break the trendline
ENJUSDT: A little less than a week I gave out my trade idea like this, and it played out perfectly. 10% gain unleveraged. A nice win in my books
Ok so we have a few scenarios here. Eth has a lot less resistance than bitcoin right now so by flipping 3400 into support Im expecting a run up to all time high. If we break support I see us fall down a bit, but im expecting a bounce around 2800. Then again, its all up to how low bitcoin will go. Eth is stronger right now, but if we break 42k on bitcoin, eth will...
Not sure if im playing this yet, but this might be a likely outcome. TP's would be the green lines with the all out at 52k. If this inverse head and shoulder plays out, I will be very surprised if it gets all the way to 52k as its a huge resistance area.