Butcher_of_Bitmex

Butcher_of_Bitmex Updated 

So we now have the large green bearish ascending broadening wedge with break out and retest of support turned resistance complete combined with the purple head and shoulders at the end of an uptrend; combined with the large blue descending triangle; combined with a diamond top reversal pattern in red. I am thinking we have a small bounce off the support of the...

Butcher_of_Bitmex Updated 

Pretty self Explanatory! In addition to our bearish ascending broadening wedge in green, we also have our H&S pattern as well as a descending triangle in light blue. We also have a small pink bear flag. There is a real possibility of a bounce off of the blue triangle support; and then subsequent retest of green wedge support turned resistance/light blue triangle...

Butcher_of_Bitmex

This is what I see as the last possible chance for a double top: Short down to mid 7's and a bounce off yellow wedge support. We could then form a bullish descending broadening wedge with a target which is equal to our double top (purple long term down trend line). I am not saying this will happen, but it is something I am keeping my eye on.

Butcher_of_Bitmex Updated 

So I have pretty much given up on the hope of re-touching the purple long term down trend channel resistance (as a double top); as we are teetering on the edge of a large bearish ascending broadening wedge. I think from where we currently stand on the daily we either: - bounce of the support of the wedge and hit the green 50MA confirming it as resistance and...

Butcher_of_Bitmex Updated 

So not only do we now have a confirmed break down of the bearish ascending wedge; we also have a almost perfect head and shoulders pattern. We also have a parabolic sar flip and fisher transform crossover to bearish on the daily. Appears we are definitely going down to 7500 though ultimate target initially is 5K.

Butcher_of_Bitmex Updated 

The bullish fractal I have been following is playing out very nicely on the daily; this is a big long for me to the top. Average entry 10,830; target 13,400ish. Stop loss 10,600.

Butcher_of_Bitmex Updated 

Smaller Time Frame Bullish Fractal is forming that supports our larger bullish triangle fractal. The smaller time frame fractal suggests that 11,090 was our bottom and we will range between 11,200 and 11,500 for the next 3 days before we break out of the white diamond resistance line and make our way up towards the double top. My entry for long 11,115 average;...

Butcher_of_Bitmex Updated 

Diamond Top Reversal creates our retest of bullish triangle support; before final leg up to 13,500. My entry for short as per my previous analysis is just over 11,900 for this short (I scalped between 11,800 and 12K levels for a few days). Target is 10,800ish before switching back to longs.

Butcher_of_Bitmex Updated 

Decided to create a brand new analysis to track the bullish fractal now that we know we are heading to a double top. I am currently short (high risk tight stop) from 11,900 down to 11,100. I have longs laddered in and waiting from 11,100 down to 10,950 at various intervals which I hope will be filled for the final push up to the double top. From there I will...

Butcher_of_Bitmex Updated 

As per the bullish fractal that has formed on the four hour and below charts; the fractal is actually more in line with what we expect to see on the daily chart. This means we could very well be on our way to our double top. My entry was 10,329 and stops have been moved into profit at 10,600. We will atleast fulfil the smaller fractal top of 11,050; however there...

Butcher_of_Bitmex Updated 

So my favourite bullish fractal has re-emerged. I am long from 10,329 with an initial target of 11,100 to switch to shorts. From there when we go down to test the support; we face the key decision of whether we go up for a double top or break down again. The last two times this fractal has emerged we have broken down on the retest of the triangle support. I have...

Butcher_of_Bitmex Updated 

Bearish: Fisher Transform Showing Sell Signal (4 hour) Red diamond top reversal Forming Large Descending Triangle 20/50/100 MA cross below 200MA (4 hour) Breakdown of large green bearish ascending broadening wedge with retest of support flipped resistance now complete. Daily bearish aroon cross Daily pullback to BB 20MA mid line Bullish: Daily klinger bullish...

Butcher_of_Bitmex Updated 

As per my previous analyses - we have broken to the down side of our 'potentially' bullish fractal. The last time this happened we created a new bearish fractal. In order for the fractal to be valid we need to see a bit more of a drop before a retrace back up (and even into) the previous bullish triangle pattern. This would create a descending triangle and is...

Butcher_of_Bitmex Updated 

As per my previous analysis; I have closed my longs from 96xx at 9850 in profit. The reason being is that it looks like we are set to test 9685-9725ish again. As you can see from the below screenshot; we have actually formed the same fractal as we have been trading within our fractal - just at a much smaller scale. This indicates that we will likely head down to...

Butcher_of_Bitmex Updated 

I have been trading this bullish fractal since first noticed on the 16th of July and have just closed 95% of my shorts from 11,077 for >1000% ROI (Bitmex and Deribit). I have started opening longs from 9650; and still have buy orders placed as low as 9460 in various intervals; though I believe we might only go down as far as the green support line at 9560. I have...

Butcher_of_Bitmex Updated 

As per previous analysis linked below; we have been following this fractal since July 16th and it has played out as expected ever since. Currently we are still in the descending wedge; which is technically bullish - however looking at the slightly larger picture we are forming a head and shoulders which will take us to the bottom of our triangle pattern. We still...

Butcher_of_Bitmex Updated 

I previously had both a bullish and bearish charts going at the same time and decided to combine them into one new one (they also had a lot of updates - so its great to start a nice fresh one with the latest information). I recently called the bullish fractal which has so far played out nicely (link below) and we have been trading it since. At the moment we are...

Butcher_of_Bitmex Updated 

If you have been following me then you might have seen that I recently floated the idea of the diamond top reversal double tap. Although I am currently monitoring the bullish fractal; I am aware that last time the fractal came along it failed and fell through the support. If this happens again it fulfils my idea of the diamond top reversal double tap (linked in...