CryptoMike100

CryptoMike100

As I said in my previous post, there was a chance we would have a new miner capitulation before the Buy signal appeared. And here we are today. It was not unexpected of course with what's going on in the BTC mining industry at the moment. Let's hope the mining industry gets some relief soon.

CryptoMike100

The Hash Ribbons haven't produced a blue dot yet. This is not the first time it takes a bit longer (it can take up to several weeks in fact). But I am wondering if we might see another miner capitulation first before we see a blue buy signal dot. With everything that is going on right now with the BTC miners, it's a strange time for indicators like the Hash...

CryptoMike100 Updated 

Cardano is breaking above this downward channel. Hopefully we can stay above and get back to the previous price levels...

CryptoMike100

Yesterday was a brutal day for most of the people in crypto, myself included. I did not sell my long term holdings but I had two long trades open, 1 in BTC and 1 in ADA, and they both got liquidated. Fortunately they were not very big so the loss was limited. I hope all of you did not lose too much. Maybe some of you even made profit by shorting? Share in the...

CryptoMike100 Updated 

Let me know what you think in the comments about this divergence. Could it play out?

CryptoMike100

BTC corrected further and this is exactly why you always need to wait for that blue Buy signal dot when using the Hash Ribbons indicator. The bright green dot showed recovery but the Buy signal did not appear yet which means downside, and even heavy downside, is still possible. So I am still patiently waiting for that blue dot before entering my long...

CryptoMike100

After a correction a few hours ago, the price remains in this downward channel. Could we return to the upper resistance and maybe break it? Or is BTC going to correct even lower, dragging ADA with it? I increased my long position on ADA during this correction.

CryptoMike100

As an addition to my previous post, if you are basing your trading decision on the Hash Ribbons, just wait for the Buy signal, the blue dot, on the daily chart. It seems like we're on the way to it but until the blue dot appears on the daily, it can go either way. Also do not overleverage because even after the blue dot, price might still go down a little bit...

CryptoMike100

A lot is going on in the cryptoverse right now. A lot of anger and hate... A lot of uncertainty... A lot of emotions in general. Which is not a good thing when trading, I learned that the hard way! So I'm just going to relax and wait for the Buy signal on the Hash Ribbons indicator (daily chart). This indicator is very reliable if you are trying to find a good...