Corona-do

Corona-do

Get ready for a massive move! Just waiting for the price to make a Higher high to signal the beginning of a massive move to the upside.

Corona-do

It looks like the movement is losing some steam perhaps is a good idea to take some profits.

Corona-do

At the moment we are in a very important place, the force of the current movement is coming to a stop because we are at a resistance point and traders see this as a double top, therefore there will be a lot of shorts coming and the only reasonable thing is that if we are to go down from this point first we will move to the upside to collect some of those stop...

Corona-do

Seeing big pumps like the ones we are have been seeing that past few days surely gets our hopes up, but remember that in the daily time frame we are still in a downtrend and we are currently testing the 55 EMA, so if we are able to break this point we could see a trend reversal but we don't have that scenario just yet so let's stick with what we have now.

Corona-do

If we fail to break this level we could possibly see a small retracement to the important volume zone, remember that we still are in a downtrend in the daily time frame so don't get too excited.

Corona-do

If you are already in a position in ETH maybe it is a good idea to take some profits or to protect your trade because ETH is approaching the 55 EMA which as you can see is a very important level to watch.

Corona-do

Resistance above 1) Volume traded zone (red line). 2) Top of a decending channel trend line (White line) 3) 55 EMA (Orange line) At this point in time, the bounce that we were expecting in my previews post came in as predicted, now we are at a critical point where we have major resistence just above our heads and it is very important to maybe take some profits...

Corona-do

There might be a relationship between the shorts and the BTC price, as we have been holding support in the 30k the volatility is going down this usually signals a big movement either to the downside or the upside.

Corona-do

I am more bullish in Theta more than ever, the indicators(MACD) indicate that we are running out of steam in the current movement to the downside and now it is flashing a bullish divergence. Be aware that it may be a strong movement to the downside in order to liquidate highly leveraged long positions.

Corona-do

Those who are in a long position just because we are in a support level will get liquidated first and then those who trade breakout will get punished.

Corona-do

Yes, I see that too but let's wait for the minions to first. We can see how those with the little patient are getting screw right now and we as intelligent trades want no part in that, so our best tool is to wait for confirmation such as a big wik for example.

Corona-do

Bitcoin at the top a of descending channel and also just below a strong volume zone. In the short term if we break this resistance level between 35333 and 35880 with a strong candle we can probably go for the 40k otherwise, If we fail to break this level we will definitely go down all the way to 29k

Corona-do

Currently forming a head and shoulder pattern in the daily chart, even though this is a very strong bearish pattern I think we can see a quick movement to the upside to liquidate all of those who are shorting and are about to short Bitcoin right now, only then after they are finished with them we can continue with the movement to the downside, possibly heading to...

Corona-do

If Bitcoin does not hold the 200 MA it is very possible that it could drop all the way down to the pink resistance block that starts at 24k, the significance of this level is that there is a lot of volume being trade in this area. On the other hand, if bitcoin holds the 200 MA it will bounce to the white resistance line so let's wait for a good possible short of...

Corona-do

In short, if (price) drops to 9k then moon. If we don't break the purple rectangle residence area of [10.4,10.6| with good volume we might go all the way down to the green logarithmic support line of 9k. Let me break down why I believe this could happen. This purple rectangle has been acting as resistance for a while now, and recently, we have been rejected by...

Corona-do

Ethereum currently trading in a rising wedge which is likely to break to the downside as most rising wedge do; the big volume spike just confirms that, if that is the case our next possible support area will be between (300,320).

Corona-do

People are not considering these two major resistance points (purple lines); the small pump we had a few days ago was perfectly rejected by those two. I think the price could definitely drop to $8500 ish by next week when earnings from the stock market come in since we are seeing a small relationship between the two, we can assume that once the panic selling...

Corona-do

We are used to be trading pretty close to the bottom green line after halvings and as we can see we are pretty far away from it, also, we are currently trading pretty close to the purple line which is a clear resistance and to top this off our good old friend volume confirms that sellers outweigh buyers, there have been more and bigger selling (red) candles....