wrinkles11

wrinkles11

LUNA hit my target and looking close to oversold on RSI, so taking profit and looking for a breakdown of this key $96 level to open another short position. Also closed my $BTC short (although both still looking ugly) because it's important to stick to your plan and take profit. I am still looking for shorts on $BTCUSDT, so will be fading any rallies while it's...

wrinkles11

Terra (LUNA) will probably function as a leveraged $BTC play in the near term. With Do Kwon ending the weekly bitcoin buys, plus all of the macro headwinds against risk assets coming with the growth slowdown, I think the steam is going to run out of this trade on both sides soon. LUNA will fall harder than Bitcoin in that environment, as people flee UST during...

wrinkles11

BTC saw a huge pump at US market open, causing RSI to get way overbought heading into a strong resistance level. We closed our long position in the green and immediately flipped short for a quick scalp. TARGET 1: $42,179 TARGET 2: $40,901 Let it burn. Best of luck, friends.

wrinkles11

Still bullish on both BTC and ETH in fiat terms, but when it comes ETH/BTC I think Ethereum has much higher upside in growth. ETH has been in a strong uptrend since the beginning of this year, and has just run up directly to the 50% level of the 2017's bull run -- low to high. The 23.6 Fibonacci level proved to be a key resistance level in this year's bull run,...

wrinkles11

We're still playing the same ranges as before. Longs at the bottom ranges, Shorts at the top. There is a short term downward trend line forming, that we got rejected from earlier today. Over the next few days/weeks, this will be a good trend line to watch for a breakout above. If that happens at the same time as we get above the $59,500 level and consolidate...

wrinkles11

Trying to take advantage of this choppiness in Bitcoin. The best way to do this is to use leverage on futures contracts and trade these established ranges. Once the price bounces off any of the resistance or support levels, retests that same level again, and then reverses - that's where you open the position and play it to the next level. Set your stop loss and...

wrinkles11 Updated 

Looking at weekly candles on the BTC / USDT chart. This is the basis for knowing the longer term, key levels of support and resistance.

wrinkles11

There has been much talk about the horizontal resistance level of $50,000 for Bitcoin this past week, but when you take a deeper dive into the charts, it's a bit more nuanced than that. BTC has been consistently retesting the top of the upward resistance channel, while also bouncing off the shorter term support level. This forms a tight, very bullish rising...