Long

Ascending triangle spotted!

Updated

Breakout got slowed by volumes being gradually bought up on TRX/BTC, pulled back slightly by ~5% only to be followed by alt-season sentiment. Ascending triangle building up to 1hr timeframe, and bullish flag on 4hr. Long term up trend up to ~0.35 foreseeable! Alt season has only just started and the height is yet to be seen.

Possible climax after Coinbase listing (9days left) as the stock price there consolidates.

Note

My higher horizontal line was set lower in Binance Desktop app @0.1375 to filter out the slightly extreme wicks, and spotted a pre-spike bottom.

18:29UTC - Small impulsive breakout of triangle.

18:45UTC - MACD crossover on 1hr period imminent to the upside (30min already crossed). Continuation of MACD divergence to the upside expected.

Note

On-Balance Volume still upwards trending, Chaikin Money Flow index bounced off zero further to the upside.

Price-Volume Trend rising with ATR.

Note

21:15UTC - On TRXBTC, bears hesitant to enter to push MACD back to downside.

On the 15minute period chart shows a healthy green candle as the downside MACD on the 5minute chart climaxed and started to revert back to crossover to the upside. 30minute period MACD shows continued strength.

If by 21:25 a 5minute green candle preceeds the formation of a full green candle on the 15minute chart by 21:30, would confirm inverted green hammer formed between 21:00 and 21:15. Continuation of price action going higher would be anticipated in the next half hour and complete a bullish MACD crossover on the hourly chart. This implicates another 8-10% upside over the next 8hours depending on how the bulls establish their buy walls, defeat of the bears for the next day, and some light resistance at ~268 satoshis.

This will be followed by ~300 satoshis for the next target up to 350 satioshis.

This should play out before the weekends as full confirmation of alt season sentiment completes tomorrow.

Positions USDT equiv:
800USDT @0.114USDT
1000USDT @0.138USDT

Note

Bulls not ready to buy up.

Took some profits and shorting until 0.140USDT

Note

Short entry 0.143USDT. SL set at 0.14405, TP 0.140USDT.

SL triggered.

Shorting is damn hard, even if for a few % pullback.

10USDT loss don't short. xd

Note

Maybe some more consolidation time for those less intentive/invested to accept this spike 4 hours ago.

Bulls held 0.14430USDT.

Note

Bears taking over. Pull-back imminent to 0.138 or lower

Note

Bears testing 0.138, touching hourly 20MA.

Update on my position:

Closed most of my position at 0.144USDT

I'm 20x leveraged, only left 100USDT total (5USDT of margined balance remaining) so I can DCA into the next run :)

Pullback should be at most to 0.13 imo.

I'll re-enter if the next 240BTC total sell wall gets at least down to 80BTC, provided that TRXBTC reaches 265 satoshis.

It should be at least 4 days until 50-200MA crossover on the daily chart.

I made ~300% of total 100USDT invested, which more than covers my total losses on AMD and NVIDIA leveraged long shares during the stock market pullback last month.

Currently bullish on ADA, BTC, BNB, DOT, and XRP. Projecting at least same returns. More on those later :)

Note

SL on remaining position at 0.13USDT.

sqr00t

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