Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: P < S MA < M MA < L MA = fully bearish
Patterns: Phase 7 hyperwave | Symmetrical triangle inside bear channel
Horizontals: S: $3,346 | R: $3,446
Trendline: Symm triangle & bear channel
Parabolic SAR: Broke the bullish sar on Bitstamp, not a good sign
Futures Curve: Backwardation with 1.89% spread
BTCUSDSHORTS: Engulfing candle today
Funding Rates: Longs will pay shorts 0.0092%
TD’ Sequential: Daily R5 | Coming off 3D R9
Ichimoku Cloud: In @CarpeNoctom’s recent video he called the biggest weekly C-Clamp in the history of BTC.
Average Directional Index: Broke through 25 and confirmed bear trend
Price Action: 24h: +0.2% | 2w: -4.1% | 1m: -14.5%
Bollinger Bands: Trending down with price below MA
Stochastic Oscillator: Daily pulling back bearish
Summary: The price found support at the trendline from my symmetrical triangle and the 4h is forming some beautiful reversal candles. Everything above is from the daily chart, but the 4h is posted due to those candles as well 18 day threndline (red) that is visible.
If this support doesn’t get us back above $3,400 in the next ~12 hours and then through the 18 day trendline then I would be worried that the resistance is overwhelming. I still have a bullish disposition primarily due to the shorts be severely overleveraged on Litecoin and my belief that a squeeze there has the ability to lead the whole make on a significant bounce.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
Consensio: P < S MA < M MA < L MA = fully bearish
Patterns: Phase 7 hyperwave | Symmetrical triangle inside bear channel
Horizontals: S: $3,346 | R: $3,446
Trendline: Symm triangle & bear channel
Parabolic SAR: Broke the bullish sar on Bitstamp, not a good sign
Futures Curve: Backwardation with 1.89% spread
BTCUSDSHORTS: Engulfing candle today
Funding Rates: Longs will pay shorts 0.0092%
TD’ Sequential: Daily R5 | Coming off 3D R9
Ichimoku Cloud: In @CarpeNoctom’s recent video he called the biggest weekly C-Clamp in the history of BTC.
Average Directional Index: Broke through 25 and confirmed bear trend
Price Action: 24h: +0.2% | 2w: -4.1% | 1m: -14.5%
Bollinger Bands: Trending down with price below MA
Stochastic Oscillator: Daily pulling back bearish
Summary: The price found support at the trendline from my symmetrical triangle and the 4h is forming some beautiful reversal candles. Everything above is from the daily chart, but the 4h is posted due to those candles as well 18 day threndline (red) that is visible.
If this support doesn’t get us back above $3,400 in the next ~12 hours and then through the 18 day trendline then I would be worried that the resistance is overwhelming. I still have a bullish disposition primarily due to the shorts be severely overleveraged on Litecoin and my belief that a squeeze there has the ability to lead the whole make on a significant bounce.
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