LONG - ADA - Trading OpportunityBullish divergence on FTX:ADAPERP , but it's kind of hard to set targets farther than the first one as this specific pair doesn't have a lot of history, but it's looking good on the BTC pair as well, so we're gonna set some arbitrary targets past the first one.
Entry: 0.004286
Target 1: 0.0461
Target 2: 12%
SL: 0.04179
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Margin
One more try from bulls? Better push it! Resistance is strong!Hello fellow traders!
So, here a quick and straight-to-the-point analysis of current grounds.
Chart says it all. There is a strong, and just incremented, resistance above.
No wonder so much sideways around this level.
Yet, Bulls seem likely try one more time breaking it, with the start of this day. They better do a good job, for real... These are the strongest resistances on the Daily chart, and so, overcoming them shall be hard, specially since they are clustered. However, it would also be a major achievement if successful.
If rejection comes, it will probably make price break the underlaying uptrend line, suggesting a longer correction. Probably, then, we can see support around pink and light blue MA's level (7500-600).
Think well how you are going to play this.
As for me, I'm just watching. No hurries.
As usual: these are not trading calls. Please do your own research and decision making before entering or exiting a trade.
Trade wisely. Lose little. Stay in the game.
PhinkTrade.
So, resistance is here. What can we expect now?Hi there, traders!
So, resistance came quite around anticipated level, producing downward swings to upcoming fractal structures (represented by colored averages on 305 mins chart).
First average (pink) couldn't manage to hold two succeeding attacks, letting price break past it, as well as nearby uptrend line. A clear weak attempt to test pushing price back above it resulted in a sharp rejection. Noticeable also ware margin traders' activities (Bitfinex): a considerable amount of longs closed (also shorts) -- resulting in a decreasing open interest.
As of this moment, it's reasonable to expect a visit to second moving average (light blue), around 7600 level, followed by some consolidation, and a potential pullback. Still, some good amount of doubt is reasonable as to wether BTCUSD will manage to break above trend line (TL) again, from this range -- let alone overcome dark blue average. If it does, frontier targets lie around 8500-600 and 8900.
Supporting this scenario is that it seems there is more steam arriving, implied by yellow average appearing below orange one, at around 7200 level. Another sign of a likely uptrend recovery and a top retest attempt is oscillator line (currently black) nearing up-trending magenta average.
Attention points:
Marked areas;
Touch to averages and horizontal lines;
Touch to uptrend line (dotted blue);
Any relevant margin activity, specially large claims (detected by margin enhanced volume indicator ).
Trade wisely. Stay in the game.
PhinkTrande
Price Trend & Margin Open Interest: Confluence, DivergenceHi there!
Here a brief, complementary view on the topic covered in previous study (based on Bitfinex margin trades). (Red spikes in volume area are claim transactions. See previous study.)
This time I'm not bringing any particular analysis up-front. Rather, I'd like to suggest a collaboration between us, interested traders.
So, what do you infer from this information?
Please leave your comments.
This can sure become an interesting conversation.
See you.. Tks!
PhinkTrade
Margin Traders Anticipating and Riding Well Latest Bull MoveAs reported by spot vs margin volume indicator, traders' will to go long started 12-16 hours before yesterday's drop (1), likely betting on a 0.618 fib bounce. It happened swiftly after fib touch, with huge spot / exchange volumes kicking in, most in a single 1 min candle.
Shorters have contributed to the move with some good amounts of closings (2), aka short-squeeze. Short closings w/ claim transactions (3) were also substantial, and had no subsequent spot follow-throughs.
The rise gives bulls extra hope. But Bitcoin still needs substantial additional volume if it is to overcome the bearish structures configured above.
For the short-term, if it manages to break some of the downtrend, we can expect a rise to around 8 to 8.3k levels.
Trade well. Trade safely. Stay in the game.
Best,
PhinkTrade
Temporary correction or New Year rally?Bitcoin continues to gradually descend in a formed downward wedge. In the classical understanding of technical analysis, this wedge should be broken up, but now every second trader sees this figure on the chart — because of this, it`s not a fact that everything will happen as simple as most people expect.
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Technically, we trade under the Fibonacci level 0.618, and under the 50% margin requirements level. Below, we have another tasty zone for the market maker, it is a 100% margin requirements zone, which almost coincides with the next Fibonacci level 0.786 ($ 8,000 - $ 8,200). The RSI index has already seen a long formation of bullish divergence, which increases the likelihood of a quick upward movement, but it is possible that it will be realized through a sharp downward movement, with a quick return of the price.
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We expect at least a corrective upward movement, either from current prices of $ 8,400 / $ 8,500, or after another descent down, from $ 8,100 / $ 8,200. If these levels do not deter aggressive sellers, then we have a risk of moving further down to the $ 6,000 area, but for now, we are adhering to a positive scenario with a corrective upward movement, after which we will see cryptocurrency market further mood.
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Bitcoin Extremely Bearish nowWelp I was wrong, owning up to that
Btc is extremely bearish now on the daily, cci is headed downward, vfi crossed down
Vfi on 4hr is about to travel downward, on 1hr we are leaving the bollinger loxp. We could see another spike upward to the 1hr 100ma but its really about to start falling apart. Might travel down to 9640, around there before halting and then seeing what happens there.
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Bitcoin, Bulls are still running, waiting for re-entryWaiting for price action to meet the blue 1/10th*233 ma on the 1hr chart before re-entry for a long. CCI looks great and we're above the 1hr 100ma. Last time we were above the 1hr 100ma we ran to 12k
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Bitcoin still running longI made another entry where the Price Action touches the upper band on the 15min. I believe our next stop is 11k, adequately compressed though cci is losing steam we still have enough left for another leg up and then might get a clearer view of whats next up there.
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