Short
Bitcoin Cash is threatening to breakdown last major support
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Patterns: descending triangle
Horizontal support and resistance: S = 0.092 | R = 0.0927
12 & 26 EMA’s (calculate % difference): 12 = currently acting as resistance | 26 = -0.37%
50 & 128 MA’s: 50 = -0.68% | 128 = -4.40%
FIB’s: 0 = 0.092
Candlestick analysis: Bearish spinning top
Ichimoku Cloud: Fullish bearish with Tenkan resistance
TD’ Sequential: R-3 = R-2
Visible Range: Low volume below 0.084. High volume node at 0.1
Bollinger Bands: If not super squeeze then damn near
Trendline: Connect 5/7 to 7/18
Daily Trend: chop
Fractals: UP = 0.1 | DOWN = 0.091
On Balance Volume: New low/bear div’
ADX: Just made a new high after lower highs and higher lows.
Chaikin Money Flow: Resistance < 0 and turning back down
RSI (30 setting): Just made new all time low on daily
Stoch: Bearish cross and turning back down
Summary: If/when 0.09 breaksdown then there is very little support below. Still to early to open a short yet, due to being at support. Good time to set a stop order to open at 0.888. Stop loss = 0.1025 and point of control on the VPVR gives me high confidence that the stop will be safe.
Patterns: descending triangle
Horizontal support and resistance: S = 0.092 | R = 0.0927
12 & 26 EMA’s (calculate % difference): 12 = currently acting as resistance | 26 = -0.37%
50 & 128 MA’s: 50 = -0.68% | 128 = -4.40%
FIB’s: 0 = 0.092
Candlestick analysis: Bearish spinning top
Ichimoku Cloud: Fullish bearish with Tenkan resistance
TD’ Sequential: R-3 = R-2
Visible Range: Low volume below 0.084. High volume node at 0.1
Bollinger Bands: If not super squeeze then damn near
Trendline: Connect 5/7 to 7/18
Daily Trend: chop
Fractals: UP = 0.1 | DOWN = 0.091
On Balance Volume: New low/bear div’
ADX: Just made a new high after lower highs and higher lows.
Chaikin Money Flow: Resistance < 0 and turning back down
RSI (30 setting): Just made new all time low on daily
Stoch: Bearish cross and turning back down
Summary: If/when 0.09 breaksdown then there is very little support below. Still to early to open a short yet, due to being at support. Good time to set a stop order to open at 0.888. Stop loss = 0.1025 and point of control on the VPVR gives me high confidence that the stop will be safe.
Trade active
Entered 3/4ths of my desired position at an average price of 0.0906. Order to add the rest at 0.0889.Trade active
1 hour bear flag just broke down. Great time to get fully positioned!Trade closed: stop reached
My position was stopped out at the top of this last bounce. I was overly confident in a continued sell off after 0.09 brokedown and I moved my stop to 0.0914. If you have done as I said and not as I did then you are likely still holding onto this position and are well into the money.Note
Since I am no longer in this position I will not be updating this thread. If you are still holding onto your short then I would move it down each time a new Williams Fractals prints above the price (Up Fractal). Good luck!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.