DragonFireTrade

DragonFireTrade

In the Chart i illustrated Diagonal Triangle within formering H&S which incites us to be aware of coming Deep Correction to the area of High Interest. From this point we might bounce to the level of 7045-7100$ in order to draw right shoulder. What really confuses me and most of traders,new Uncovered Gap at 7314$. To my mind thats the only thing keeps us from Sharp...

DragonFireTrade

8 days consolidation Exposed Growth to the area of High resistance 9180$ Bitmex. Positive news from Soth Korea(legalization of cryptocurrency trading) has also been helpfull to this way up. As a result traders became more bullish.At the moment i see a real menace to fall dawn from the area of 9200-9400$. Invalidation (break out 9650$). In the graph i illustrated a...

DragonFireTrade

Totally or partly formered Symmetrical Triangle urge my to reconsider my posotion in BTC as it is a pattern of continuation Trend. It is more likely to make a new low in the area of 8360-8208$.

DragonFireTrade

I Close all my Short positions Here, below 8600$ and waiting for the reactions of Buyers to such a significant Level.We should take into account Strong divergence in RSI at 1D chart which incites us to be cautious here and Fix such a tasty profit.

DragonFireTrade

Yesterday was pretty bloody day for the Long positions. More than 160kk$ Long positions were liquidated in Bitmex and it is estimated to be the largest amount in 2020. The price of first Cryptocurrency crashed from from 9300$+ to 8500$. 1W chart indicates that we Hit the 8500$ supported by two MA(ma20-ma50) at the same time in 1D chart MA-200 keeps us from...

DragonFireTrade

As we so easily broke the downward channel and went below 9000$ as if there wasnt any support = Trend has completly changed. Moreover, break supported by high Volume wich means that Sellers took up the running. AT the moment it is more likly to bounce then downtrend will go on! 1D chart looks terrible and proves Buyers Capitulation!