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 > L MA > S MA > M MA (Watching for golden cross with L & M MA’ and for L MA to flatten)
Patterns: Phase 7 Hyperwave | Bear Channel
Horizontals: R: $3,706 | Want to see support hold above $3,532
Trendline: Bear Channel
Parabolic SAR: Broke bear SAR, bull SAR = $3,338
Futures Curve: Backwardation with 0.71% spread | Long entry confirmed when price took out the 2 week high. Now would like to see market re enter Contango while market pumps.
BTCUSDSHORTS: Tried to make a higher high, got rejected hard. Watching for double bottom.
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: G2 goes above G1 at $3,717
Ichimoku Cloud: Interesting that the bullish TK Cross was rejected
Relative Strength Index: Back above 50. Bulls are on the offensive.
Average Directional Index: ADX > 25 and +DI above -DI = bull trend
Price Action: 24h: +7.5% | 2w: +2.4% | 1m: -8.1%
Bollinger Bands: Tested the top band on this last move.
Stochastic Oscillator: D, 3D and Weekly Cross. Is very / powerful for those to occur at roughly the same time.
Summary: There are a couple major areas of resistance that I am watching closely. Bitcoin is still inside the bear channel and the resistance trendline waits at $3,800. I do expect that to break but will not be counting my ducks just yet.
If we do close above $3,800 then my next important area of horizontal support is $4,100 - $42,00. I do expect us to breakthrough there due to how we have eaten away at that resistance three times already.
After that is $4,700 where the weekly Bollinger Band MA is waiting along with the weekly Parabolic SAR.
The chart above is the main reason I am confident we are due for a significant bounce. We appear to have supported $100B total market cap and to me that is very important. That area provided significant resistance back in 2017 and as soon as we broke through the parabolic advance really started to gain momentum.
I have an alert set to trigger once / if we breakdown that area and I will be using that as a strong indicator of upcoming capitulation.
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 > L MA > S MA > M MA (Watching for golden cross with L & M MA’ and for L MA to flatten)
Patterns: Phase 7 Hyperwave | Bear Channel
Horizontals: R: $3,706 | Want to see support hold above $3,532
Trendline: Bear Channel
Parabolic SAR: Broke bear SAR, bull SAR = $3,338
Futures Curve: Backwardation with 0.71% spread | Long entry confirmed when price took out the 2 week high. Now would like to see market re enter Contango while market pumps.
BTCUSDSHORTS: Tried to make a higher high, got rejected hard. Watching for double bottom.
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: G2 goes above G1 at $3,717
Ichimoku Cloud: Interesting that the bullish TK Cross was rejected
Relative Strength Index: Back above 50. Bulls are on the offensive.
Average Directional Index: ADX > 25 and +DI above -DI = bull trend
Price Action: 24h: +7.5% | 2w: +2.4% | 1m: -8.1%
Bollinger Bands: Tested the top band on this last move.
Stochastic Oscillator: D, 3D and Weekly Cross. Is very / powerful for those to occur at roughly the same time.
Summary: There are a couple major areas of resistance that I am watching closely. Bitcoin is still inside the bear channel and the resistance trendline waits at $3,800. I do expect that to break but will not be counting my ducks just yet.
If we do close above $3,800 then my next important area of horizontal support is $4,100 - $42,00. I do expect us to breakthrough there due to how we have eaten away at that resistance three times already.
After that is $4,700 where the weekly Bollinger Band MA is waiting along with the weekly Parabolic SAR.
The chart above is the main reason I am confident we are due for a significant bounce. We appear to have supported $100B total market cap and to me that is very important. That area provided significant resistance back in 2017 and as soon as we broke through the parabolic advance really started to gain momentum.
I have an alert set to trigger once / if we breakdown that area and I will be using that as a strong indicator of upcoming capitulation.
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