First of all , there is a fractal, if you can call it that . In order to make it works, the asset has to dump in the next impulse. If we look at the RSI, we would see that on the rising price wave, the RSI oscillator updates the previous bottom, corresponding to the beginning of the rising wave (marked with yellow vertical lines) . From this fact we can conclude...
Let me explain the whole situation in details: 1. We fixed above the zone of $3550 - $3560 , so at the first glance, we can start entering the scalp LONG on XBT now. However, given the weak volumes, we can still fall lower, just knocking out liquidations. The small fall can also help us to draw a Ruby (reversal pattern) and after that go up. The first...
If you look at LTC at 4h, so we can see a growing channel, which, in essence, we can interpret the chart as if we are now near the bottom of a growing channel and this is an ideal point for opening a long position. But such an interpretation of the schedule will be a juggling of facts. Why? Because such a construction of channels plays the weakest role in front...
First of all , let's consider the dump: dump in two waves usually leads to the formation of a consolidation, because the market at one point did all the actions that it could have done. After this, more likely, we will see the consolidation. What to do now? Firstly we need to determine the resistance and the support line of consolidation's corridor. Support...
According to the cluster analysis, the last micro pump doesn't seem like a short squeeze. Let's move further with this. On the chart, we can clearly see the turning point ( red rectangle $4000-$4100 ). If the price keeps inside it - we can think about opening LONG . If the price doesn't keep inside it and fall below - we can think about opening ...
In the previous global update I told you about three possible options , now there are only two and both imply dumping to the $3550-$3650 area. First scenario: we have inverse H&S, the target here is LONG to $5300 . In favour of this option, we have also the up-trend (dotted lines), where the reversal point is located at the intersection of horizontal...
Right now we are at the beginning of the new big movement, so firstly we need to determine the scenario we will follow. I see three possible scenarios there: 1. We can see the chart forming an inverse H&S . To complete it, we need to decline to the $3500-$3600 area and then catch upward movement to $5000-$5200 . 2. If we don't see a revers...
We can see the fractal here . The previous correction of a decline was before the global wave 4-5 cycle Elliot 1-5. The target of the small 1-5 that is a part of global 4-5: 2800-2900 USD.
Let's look at the situation in detail: some prominent long positions were opened in recent days. Amount of short position grew up too, but some facts tell us that short positions were opened by small players (like you and me), while longs were opened by huge whales. It is foolish to deny that BTC is wholly oversold now, we are following down-trend since 8400$ and...
SUB. Now we can see the completed bearish flag and completed bullish flag, which in sum give us an inverted head and shoulders (HS). Also now we can observe the output of the graph from the pattern, which is supported by the completed bunch of convergences b and c, which usually means new up-trend. But the trading volume on this asset is still not large enough so...
MTL at the moment broke falling wedge, and now is forming 2 figures: a bull flag, with the future transformation into a bearish flag, which will give MTL impulse for correction, to the newly formed support located in the area 34k sats. up to 40k sats., which is not strong enough to keep a large sales flow, so I advise you to leave a stop loss, which we also...
Some time ago XEM showed very small volumes, which increased with the last fall, this is explained by the approach to a delicious price about 30k sats. You can also notice that after the jump there were large sales, but without great consequences, which also means that we are waiting for a better price. Besides it was profitable to trade short trades with stop...
I guarantee that they will be located exactly there, but about point 4 we'll talk in detail. Pay attention to fibo levels, there we caught the ideal tunnel between 50% and 78.6%. I removed additional Fibo levels, coinciding with 0% so they won't clog the chart. So now we can find our next minimum, which will be enough for any opened futures and futures that have...
Good time of day to you all! I would like to begin with asking for forgiveness from my subscribers for being absent for so long and not keeping you up to date with my recent actions. The thing is that I have yet to act in any way... To be a successful trader you must leave the market in time of storms, I do understand that these are some of the more profitable...