Time for a Spring Short

Greetings, fellow traders! The time we've all been eagerly awaiting has finally arrived - the "spring" is in the air! for which we have patiently waited.

For the past month, BLZUSDT.P has been gracefully cruising within an ascending channel, elevating our spirits and hinting at an inevitable turning point - a drop. As seasoned traders, we understand that every uptrend has its expiration date.

BLZUSDT.P has impeccably adhered to the textbook's teachings, and now we find ourselves at the cusp of a bountiful spring - the perfect moment to embark on our short positions.

I understand the allure of longing for a retest of the breaker, hoping for continued upward momentum. However, remember that every party eventually comes to a close, even the most enjoyable ones. While we maintain confidence in the potential of BLZ and believe it to be undervalued, the structure of the market cannot be ignored. A fall is essential in order for BLZ to lay the foundation for a new higher high.

Let us navigate this structure with prudence and seize the opportunity to capitalize on the forthcoming downward movement. Keep a keen eye on BLZ as we embark on this exciting short position journey.

Stay vigilant, my friends, and may the market guide us to profitable endeavors!

Note: Trading endeavors carry inherent risks. Conduct thorough research, exercise caution, and make informed decisions to safeguard your investments.

Trade active:

BLZ currently in Apex pump ,short entry shall be first sight of weakness

Comment:

some 1h chart to backup the current theory

posible short setup :
divide short capital into 5.
entry1 :enter 1 share @ current price (first sign of weakness),
entry2 :enter 2 shares @ 0.23,
entry3 :enter 3 shares @ 0.26 ,

if fallback to breaker which never reach entry2 ,and confirmed this is a fake-out ,
take entry2's shares enter under the old support.

the reason for room at 0.26 is because in2021 Dec 25, theres a engulfing candle that BLZ never revisit since . BLZ has tried multiple time to reach it , hard to say will it touch this time or the next pump . chance are low but not none.
Stay vigilant, my friends, and may the market guide us to profitable endeavors!

Comment:

Greetings, my fellow traders! It has been 8 hours since our previous update, and the apex run shows no signs of abating. As the saying goes, "mama told me not to fight apex," and wise words they are indeed.

Despite the prolonged upsurge, our plan remains steadfast. We remain vigilant, patiently awaiting the first glimpse of weakness before executing our short entry. This measured approach allows us to navigate the market with prudence and seize the most opportune moment for our trade.

Remember, trading requires discipline and a keen eye for market dynamics. While the apex run may tempt us, it is crucial to exercise caution and wait for the optimal conditions.

Trade active:

seems like the sign we been looking for , enter "entry1" now , or if you want to feel safe ,wait for a retest from the apex support

Comment:

the plan

Comment:

1h update , its slow .

there's a retest threshold deserve your attention , is a good ideas to put your stop above that line , or atleast off load some if it back to the triangle

Comment:

"Spring" is the ultimate market maneuver , it will show you countless opportunities to chase for the high or reversal . all you need is curb your urge. and watch out for ranges , don't chuck your SL to tight . thats it . dont ever think its bottom when we still at the top

Comment:

another remider BLZ currently is on a hourly movement, analyze TF's minimum 30m

Comment:

BLZ breaking down nicely :)

Comment:

blz has broken into the old trend, it will continue to drop till the end of September. enjoy the fall season

Trade closed manually:

it has been a good journey shorting this fakeout. now that price has come back to the old trend. and touched the bottom of the support. I'm close the trade and re-evaluate for the next entry.

now is a good time to close your short and take profit . i know, the original target was 0.1,but don't get greedy, we will make more profit in the next trade.

Comment:

Don't forget to follow for more TA:) my Analysis will always be free as i want to help more trader as posibble

Comment:

last update of this thread :

price has not move much since last update . but it did formed a cup and handle which is a bearish signal.
but i am not enter short for now utill the break the support and retest and reject . when i see something concrete for short or long . i will open a new ideas threads

Comment:

any entry at current state is risky . wait for clear signal before enter any trade . do not gamble.