Hey guys,
Hope everyone are well.
We are looking at a falling wedge pattern on the 4HR and trading below the EMA50. Crypto is in full blown panic selling mode and this offers a VERY SHORT opportunity to short trade with the trend.
Confirmation of trend continuation is below $3213, with targets at $2615, and $2099 on Bitstamp. Above $3581 this idea becomes invalidated and we'll need to wait for consolidation to identify a new pattern with exit/entry level.
ATTENTION: Shorting down here comes with additional margin cost and liquidity concerns.
Last week we were looking to catch a countercyclical swing trade to the upside, but that didn't play out. The idea below was invalidated and no trade should have taken place:
![BTCUSD [REVISED] - 30% Countercyclical Long Trade?](https://s3.tradingview.com/r/R5gWkiHx_mid.png)
Keep in mind the longer term picture. The price levels we will trade at in the coming weeks will offer very good longer-term long trade prices:
Hope everyone are well.
We are looking at a falling wedge pattern on the 4HR and trading below the EMA50. Crypto is in full blown panic selling mode and this offers a VERY SHORT opportunity to short trade with the trend.
Confirmation of trend continuation is below $3213, with targets at $2615, and $2099 on Bitstamp. Above $3581 this idea becomes invalidated and we'll need to wait for consolidation to identify a new pattern with exit/entry level.
ATTENTION: Shorting down here comes with additional margin cost and liquidity concerns.
Last week we were looking to catch a countercyclical swing trade to the upside, but that didn't play out. The idea below was invalidated and no trade should have taken place:
Keep in mind the longer term picture. The price levels we will trade at in the coming weeks will offer very good longer-term long trade prices:
Note
Next two days should be interesting:MCAP
BTCUSD
Note
Still bearishNote
Watch for breakout!Note
Its happening:Don't forget big picture:
Note
False breakout! The daily candle refused to close, so we are back to consolidation...Mcap:
Note
We are about to kiss the .382... this is a make it or break it moment!Order cancelled
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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.
Related publications
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.