HackneyCrypto

HackneyCrypto Updated 

Yesterday's Crypto and traditional market sell off in response to the FOMC 50bp hike is a strong sign that market participants believe there is more downside yet to come in 2022. As I mentioned in my post yesterday. Link 👇 there are a number of key resistance levels which $BTC had to overcome. The market sent a strong signal yesterday that, for now, those levels...

HackneyCrypto

So the FOMC rate hike of 50bps last night had an immediate positive impact on crypto and traditional markets. There was allot of fear in the markets and the Fed has provided a pressure relief valve. Traders should remain cautious however as a number of key technical hurdles remain before we can release the bulls! A convergence of technical indicators at the same...

HackneyCrypto Updated 

BTC has caught a bounce over the last few days off the back of a general improvement in market sentiment (S&P, Nasdaq). BTC is still highly correlated to the equities market. IMHO there is not a decent trade at this level where we find ourselves in the middle of a range ($43K, lower = $39K, upper = $48K). There is a huge amount of previous resistance at $48K...

HackneyCrypto Updated 

Assuming that 69K USD turns out to be the top of this latest $BTC bull run and we are not in the midst of a bear market - the key question is how low can we go? Here I offer up two scenarios which are using the bar pattern from the last crash in 2018/19: Scenario 1 (orange bars) - mimics the length and severity of the last crash - Copied bar pattern and retained...

HackneyCrypto

I agree with the general analysis by www.tradingview.com in his related idea (link below). My thinking is that the bullish falling wedge will play out as shown in my chart. The last local high at $51K (27th Dec) will be the first touch of the top of the wedge and then further touches will form before we breakout to the upside. Basically my belief is that we...

HackneyCrypto

This idea is Short (short term), Long (long term). There is heated debate right now on whether BTC has yet reached its top in this cycle. BTC is range-bound against USD (detail not shown) between $46K and $51K. A break out will probably lead to retest of ATH and possibly new price discovery. A break down would then leave the £40K level as the last support for...

HackneyCrypto

Monero, along with other alts, has been showing strength against the dollar over the past three weeks. History tells us that alts often pop before Bitcoin so I am starting to look at set ups for a number of alts which I think are strong projects. I'm not saying the bottom is in but its at least a good time to evaluate the market for opportunities. With that said...

HackneyCrypto Updated 

Are we finally seeing the Crypto markets wake up or will this prove to be another false alarm. More dreams dashed? As a mechanical trader these are not my concerns. My strategy has triggered a buy so we are in the trade. Simples!! ETH burst through the 20 day high as shown on the chart (pink box). Position 1 & 2 triggered at the levels shown with a 1N position...

HackneyCrypto Updated 

ETH dropped below the 20 day low as shown on the chart (pink box). Position 1 has triggered at the levels shown with a 1N position size. P2-P4 will trigger if price drops to the levels shown. Stop Loss is set at 2N above P1 at the level shown. Exit level (yellow box) is below the SL so is active. I will post updates below, so please smash the like and follow...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. BTC (XBT) dropped below the 20 day low as shown on the chart (pink box). Position 1 has triggered at the levels shown with a 1N position size. P2 will trigger if price drop to the levels shown. I am only placing two positions due to uncertainty in other TA...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. XRP dropped below the 20 day low as shown on the chart (pink box). Position 1 have triggered at the levels shown with a 1N position size. P2 - P4 will trigger if price drop to the levels shown. Stop Loss is set at 2N above P1 at the level shown. The 10 day high...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. IOT dropped below the 20 day low as shown on the chart (pink box). Positions 1 & 2 have triggered at the levels shown. Note the price dropped so fast on Bitfinex that I didn't get a very good average price. Each with a 1N position size. P3 & P4 will trigger if...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. BTC pushed above the 20 day high as shown on the chart (pink box). Positions 1 has triggered at the levels shown with a 1N position size. P2 & P3 will trigger if price rises to the levels shown. Stop Loss is set at 2N below P1 at the levels shown. The 10 day...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. ETH pushed above the 20 day high as shown on the chart (pink box). Positions 1 & 2, has triggered at the levels shown with a 1N position size. P3 will trigger if price rises to the levels shown. Stop Loss is set at 2N below P2 at the levels shown. The 10 day...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. IOT pushed above the 20 day high as shown on the chart (pink box). Positions 1, has triggered at the levels shown with a 1N position size. P2 & P3 will trigger if price rises to the levels shown. Stop Loss is set at 2N below P1 at the levels shown. The 10 day...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. XRP broke below the 20 day low as shown on the chart (pink box). Positions 1, has triggered at the levels shown with a 1N positions size. P2 & P3 will trigger if price drops to the level shown. Stop Loss is set at 2N above P1 at the levels shown. The 10 day high...

HackneyCrypto

When all is said and done, BTC is returning back to the support level it was at back in 2016 & 2017 (black line). If BTC respects this level in 2018 then it will drop and recover at 2200-2500. This is also a level where BTC found allot of support/resistance May-July 2017 (yellow line) before the big leg up to 20000. This creates a long term level of confluence...

HackneyCrypto Updated 

For details of the strategy used for this trade (and historic performance) see linked trade below. IOT broke below the 20 day low as shown on the chart (blue box). Positions 1, 2 & 3 have triggered at the levels shown with a 1N positions size. Stop Loss is set at 2N above P3 at the levels shown. The 10 day high Exit level (yellow box) is higher than the Stop...