Market check: Short Case for $BTCMarket check: Short Case for $BTC
KEY LEVEL: 18,350.80- 17,713.46
ENTRY TIMEFRAME: H1
FA: CONTAGION FROM THE FTX COLLAPSE.
Comment your opinion.
Note: Please review you own analysis as the market will always be very dynamic and market sentiment will change in no time.
Bitcoin-short
Everything As Expected. Hi dear traders, hope you are surviving the current bloodish wave in the market. Since we have forecasted the movement in almost an accurate rate we did survive the overall negative hype on the week. So What's going on Bitcoin?
I am still bearish till something content-ful market impact took in place. For now, $12,200 area is the next strong resistance line if the current magnetic support lines at around $15,500 and $14,400 areas respectively are going to be breaking out.
This is just to drop my greetings and my current market sentiment perspective. I will be back bringing you a detailed analysis sooner or later on. Stay safe and be strictive on your trades till market gets some space to breath.
ETHEREUM - PATH FOR ETH WE ALREADY HAVE SEEN?All crypto market looks really bad. Probably it's time for capitulation event.
And while we had one during covid crash we can look at the structure of price to know that now it looks very the same.
What is interesting is that then everyone was claiming that it wasnt possible to recognize the bottom, but was it really when we look at the ETH ?
Broadening Wedge Pattern was pattern printed then and also now we can reach the lower band of the wedge what would give us possible double bottom with price slightly below June bottom, so around 850 usd.
This is where I buy if we get there.
Biggest Head and Shoulders on BitcoinToday I will show you the biggest Head and Shoulders pattern ever created on Bitcoin and i have two targets which i will approximate because it depends on the time will be hitten.
First target: 14-16k
Second target 7-9kwhich i think is most likely
Thank you , stay safe!
...And now I short back down to the 50 day MATraders,
BTC will most likely retest that 50 day. It's been a few weeks since we were on the upside of it. And with the 100 day overhead acting as resistance, I can't think of a better entry than here. I will short with 5x leverage. TP = 19,600. SL = 21,000 (yes, I know that's tight - loosen yours if you are comfortable doing so).
Best!
Stew
BTC New bullrun or not?Yesterday we broke huge trendline on BTC and broke 20400 level with an impulse. Today we will see if price is strong enough to hold itself above it.
If price holds, I expect green scenario.
If candle clothes below the level, I expect red.
Why I have bearish view?
Let me ask you first - Why should crypto start new bullrun right now?
1. European economy is in shambles because of high gas and electricity prices.
2. Whole world is suffering because of strong USD as USD is reserve currency for most of the countries.
3. There currently elections in US - good reason for democrats to keep financial markets afloat
4. WInter is ahead - not the best time for market growth
For me that's enough to look at current situation as a trap - the only question is - what is the scale of this trap?
If you like the idea, please, press a like to let me know that my work is valuable for you. Thank you and trade wisely!💓😊
BTC/USD Bitcoin tried to broke out of descending channel but strong support and resistance level came in and now I'm expecting drop all the way down to 10.700$ area.
Looking from fundamental view I also see another leg down because of high yields and FED still raising interest rates.
I'm not panicking about crypto it doesn't matter if crypto goes to 5T$ mc or back to 100B$. I'm here for a long term so the more it drops the more I will buy but deffinitily not at these levels.
Possible Downside to Bitcoinhello traders
There is a bearish impulse wave and we have a correction in the form of running flat. It is possible that we will get another bearish impulse wave, but the sellers must break the last wall of the buyers and the buyers' reaction be corrective after break and the sellers overcome it as well
If these conditions are met, a sell trade will be executed to target the level of 18870
AAVE : Keeping my Eyes on AAVE.Just keeping my eyes on #AAVEUSDT breakout on the daily and weekly seems to be looking to be setup-ed in good shape for long term profits. I will be preparing a detailed analysis on #AAVE for tomorrow. Till that make your own research about it and we will discuss it.🙏🏾