(So hopefully my internet issues are behind me, have had 2 failed vlog uploads, which sucks but moving on and should be uploading more regularly now.) Being totally honest, I entered a short at first 40k touch, got stopped around 41k, possible I would have entered another short (I'm backtesting these trades so its dependent on me being honest with myself!!) and...
A ton of volatility again today. So apparently that pump was off some amazon fake news??!! For real?! That's all it took?! Imo lets not ignore the fact a ton of money was just itching to jump back in on any pump. Then some tired old recycled tether news dumps us... I'm pretty over the news for crypto. Think I prefer tracking all this from a purely TA-centric...
I've been schooled by the markets the past few days, I was mostly blind-sided by the break to 35k, and 99.99% of the world population cant see the 36k to 40k pump. That was nuts. I will be honest, I don't think I would have bought the breakout, and any longs I may have opened at 30k would be mostly closed at 35k. So if you are looking for analysis and...
*uploaded this morning and appears we broke that trend line! So my 'slight' bearish bias got a little out of hand haha, I try to keep it real and for the most part I have done that here, but certainly I didn't see a distinct bounce. In hindsight it makes complete sense, if you break below major support and theres no fear or panic, a bounce makes more sense. The...
BTC price has broken below 31k range, finally, and had a sharp move below 30k, we hit 29.3k and are now essentially sitting here waiting for the daily close. If price can get to 29.5k area and close on the 1 day.. that will have significance. After that, we would need the next daily candle to close entirely below the 30k mark to signal some big ole...
*Hmm think the vlog was a bit loud today! Will get it better next episode This squeeze is still squeezing! More lower highs! BTC has now backed itself into such a narrowly ranged corner we are bound to experience some pump or some dump. Short term I have to admit things looking a little more bullish, I think we could experience some reprieve here. We need to see...
BTC is going full contortionist on us right now. These previous 4 lower highs on the 4hour chart are really starting to make things look bearish for BTC. The continuation of this pattern of decreasing highs suggests price wants to retest 30k and possibly lower. This range and general chop is just bad place to be trading, at least for myself and many others....
BTC looking like it wants to touch 35k more times than a catholic priest touches... ahem! BTC has retested and bounced off the upper trend line of descending triangle multiple times now, my confidence in this pattern is beginning to waver, or it could just be I had a shitty sleep and my mood is a bit low! I have seen a descending wedge being floated by others...
BTC is trying over and over to break this 35k resistance. Right now its locked in the lower half of this range. Technically, for one of my strategies, I should be in a long off of a successful retest bounce from the upper descending triangle trend line. My target on that would be 39k to 40k. My stop loss is moved up to break even since getting to 35k. MY...
BTC has broken the trend line of this descending triangle again. This pattern is starting to lose significance.. but still relevant for now. Its changing by the day really. I'm also tracking a lower significance ascending triangle, of which we are testing its lower trend line. Patterns within patterns. I'm not convinced by these small pumps, not sure if it has...
We had a false breakout at 35k, we got up to 36.5k area then fell down to retest the trend line, which arguably did create a buy signal for my breakout strategy. I did no enter it, cant remember if it was because I was sleeping or working! But technically it was a buy signal for me. This trade would have got stopped out. We are back inside the reservation now,...
BTC price is going off the reservation here, we could be starting to form a new pattern. This is a breakout of a descending triangle on the 4h (lower significane) and its towards the end of the pattern where you can expect some squeeze that leads to volatility.. A breakout here is on the lower odds side of things, but market don't lie, so lets see if it can close...
BTC continues to trade in this descending triangle pattern, currently I see a rejection of the 35k to 35.5k upper trend line, indicates it could possibly range back downwards to 30k to 31k. We could test this 35k mark for a bit longer, we are approaching the end of this pattern which could bring volatility as we saw at the end of the recent symmetrical...
The price action down from 41k here has been extremely bearish. 5 red daily closes in a row. Major rejection into capitulation. Major shorting. Decent FUD news with Chinese BTC miners closing up shop, those images have been trending. Appears we have support again, but you can see this descending triangle is starting to tighten up! We are entering this squeeze and...
BTC broke and closed above the 40k, it was unable to stay above and has been going sideways for roughly a day. If we could have held above I may have gone long here. My short got stopped at 41,300, the high was 41330... :( that sucked haha. There is heavy resistance at 40k and 41k. Open interest is up, significant money is short. Price action is extremely...
38k and this upper downwards trend line is still our ceiling on BTC. Some of the crypto world is starting to get bullish now, buying at the bottom of this range, 30k to 33k, seems like a decent long. This being said, we have remade our higher low. Not good. 4th rejection of upper trend line. 4h and 1d 50ma/100ma death crosses. Bad. Overall extremely bearish...
On my last vlog I indicated we were in no mans land, broken pattern and I really couldn't make any prediction. A day on, a bit of price action, and the picture is so much clearer. Price action here has felt very calculated by larger entities, lots of big shorts closing to go long, lots of short liquidation hunting, lots of hunting on both sides. I think this is...
In this video I look ahead to the major news event for the Euro later today, the ECB Rate Decision. I mark out the key levels I will be watching during and after the event to monitor where any trades will be placed.