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Margintrading

BTC Bottom - So close yet so farWhat's happening? BTC has been pretty volatile today as compared to last two months when it was making 0.1-0.5% moves in days. Today it jumped to 3499, came back down to 3320. 2.x% move up and 2.x% move down within a day. Good day for scalpers. We are around same price where we were yesterday. I'm still positive about letting this SHORT run. Downtrend still exists. Sell pressure is still there. But SHORTs are still piling up and hence SHORT SQUEEZE is still on the cards. So, that being said, there is a very high chance that we have already bottomed out or are very very close to the bottom. If 2900 is the bottom, we are just 14% ($300-400) away from it. If 2900 doesn't hold, next solid support is at 1800 with a tiny bit of support around 2350. Now considering all of the above, I'm not putting a lot of money on this SHORT. But I'm going with the trend and letting this SHORT run. How am I trading it? 1. So, I've taken profits from my SHORT around 3330 Staggered again at 3460, 3540 and 3650 with a SL at 3670 TP from here onward till 3k. 2. I've put BUY ORDERS with a very tiny amount in the range of 3k to 2800 with a SL at 2750. Very high chances of 2900 being the bottom of this drop. So risking a small equity for this counter trend trade. What are my indicators saying? 4hr FOMO has finally turned GREEN today after staying RED since 3900. Daily FOMO is still RED. FOMO Momentum Scalper on 4hrly and daily timeframe is indicating a reversal. Check the DARK GREEN bars in the histogram. Holy Trendline has turned GREEN too. My indicators are indicating a relief rally but considering the recent sell pressure, I'm not convinced. Not yet. When will I LONG? I'll simply open a LONG trade for short term once my SL at 3670 gets hit. That'll be a temporary break of downtrend. For me to be Super Bullish, I would want BTC to close and consolidate above HTL on daily timeframe. HTL on daily is at 4220 Until then, it's SHORT the pump as I've been saying. Why don't I LONG now? Since, I believe 2900 is the bottom, I just simply don't wanna Counter-Trend Trade at the moment. I will miss out on that Big Fat Green (Short Squeeze) whenever it happens if 2900 is the bottom. Perfect timing for a SHORT SQUEEZE would be a bounce from 2900. But we don't know that for sure. We just don't know what the bottom is until we know what the bottom is. It'll be one of those horizontal supports or a trendline from the past. But we don't know which one. Which is why I'm sticking to trade with the trend and SHORT those pumps.
BITMEX:BTCUSD.PShort
by vjsharma89
Bitcoin's Measured move and how to profit from itBitcoin did something crazy last night, almost managing to rise 500 points in an hour. This move got pushed down, but it showed something imporant - market was (at least temporarily) highly oversold. This caused a lot of overleveraged shorts to be liquidated, adding more fuel to fire. This move made a great deal of sense, too. The number of shorts has explosively grown since the November break of $6000, now surpassing the old ATHs. If we look at Bitfinex shorts vs longs (chart will be added below), we can see that we were highly oversold, passing the old ATHs of shorts in a blip, meaning we desperately needed some form of correction. Now, I think that this was just be a correction inside a daily-chart bear flag which we might continue to climb before making another drop. If we measure the last bear flag drop distance from the 29th of November high to the 7th of December low, we see a drop of a bit over $1000. Should the bear flag continue, we can use a method called measured move* to find our next price targets. This means mirroring the last drop length to the next potential drop, which gives us the target of around $2800 . This is a rough estimate and can vary, but this is the price we should pay a lot of attention to. Now, the stop loss we place at around $3900 for Bitfinex and around $3800 on Bitmex. For entry we can use the upward movement inside the bull flag, like the one that happened yesterday in Bitfinex. For margin I still recomamend to use maximum of 5x, 10x if you think you can time it really well and not be squeezed out and anything higher if you most likely want to lose all your money. Xiexie nimende guanzhu. *The Measured Move is a three-part formation that begins as a reversal pattern and resumes as a continuation pattern. The Bearish Measured Move consists of a reversal decline, consolidation/retracement and continuation decline.
BITFINEX:BTCUSDShort
by SnarkLife
Update: BTC is in no trade zone atm.After that inverse BART, we got that drop as we expected. I did expect it to break the new uptrend support but it didn't So, now we have 3 patterns going on right now on the 4hourly timeframe. 1. Symmetrical Triangle (Blue) We marked an uptrend support line after the inverse BART.This uptrend support line is forming a symmetrical triangle from our previous downtrend line. Now, at the time of publishing this post, the downtrend line is just under 3900 right now and the uptrendline is around 3780 2. Symmetrical Triangle (Green) We'll look at this triangle if we break the Symmetrical Triangle 1 and the Descending Wedge 3. The downtrend line of the triangle is around 4250 at the moment and uptrend line is the same as that of Symmetrical Triangle 1. 3. Descending Wedge (Red) The descending wedge is pretty clear but we won't know if it is in play atm The downtrend line is the same downtrend line from Symmetrical Triangle 1 The bottom line of the descending wedge is running around 3630 atm. What do we do now that we have 3 patterns in front of us? Trade outwards Starting from the center. Symmetrical Triangle 1 -> LONG if we break the top and SHORT if we break the bottom. If we break the top, Symmetrical Triangle 2 will be in play. Take profits from LONG around the downtrend line of Symmetrical Triangle 2 (at 4250 right now). If we break the bottom, take profits from your LONG around the bottom line of descending wedge (at 3630 right now). Symmetrical Triangle 2 -> It'll be in play only if we break Symmetrical Triangle 1. So trade it the same way that you traded Symemtrical Triangle 1. Trade the breakout. If we break the top, we'll be heading to 4460-4780 region. If we break the bottom, the target would be 3500. Descending Wedge -> These break out to the top most of the times. So if it is in play, we'll find out. Trade the break out If we break the bottom of this wedge, we'll most probably test 3500 support. This is as simple as it can get. Trade the breakout, run Stop Loss under the trend in case it's a fake out. What are my indicators saying? FOMO 4hrly is red, HTL is red. What's my trade setup right now? I've closed majority of my SHORT position (shorted at 4010) and will wait for a confirmation from one of these 3 trade patterns before opening a new position. I'm not doing any scalps. This is strictly a no trade zone for me.
BITMEX:BTCUSD.P
by vjsharma89
6
Update on BTC after yesterday's inverse BARTSo, BTC broke the uptrend support line and fell down to 3740 (twice). Pumped right after (did an Inverse BART) and back to where it was yesterday. I believe, we've been rejected from the downtrend line marked in red. Short Term downtrend line marked in pink is not confirmed yet. Next move should be DOWN. In case something magical happens and BTC breaks 4k, it could easily move to 4140-4300 How can you trade this? If you love risks - SHORT now with one order around 3990 and a SL at 4030 If you like to play it safe, wait for a break out on either side of this new triangle. TOP (4030) and BOTTOM (3720) If you are convinced it'll drop, SHORT now with SHORT orders at 4140, 4280 and 4370 with SL at 4440 What am I doing? I'm in a SHORT right now with average entry 3967 and orders at 4140, 4280 and 4370. Let's see what the next 4 hourly brings us.
BITMEX:BTCUSD.PShort
by vjsharma89
Update on BTC. Expect big action this week.It's also forming a bear flag on the daily. Pink lines indicate bullish divergence that has started to play out. Over last couple, XBT has been trending up on the Daily chart along the red trendline. There is tiny bit of bearish divergence on the daily too. Marked in blue lines. What's next? If BTC holds the red uptrend line, we'll keep cruising up on daily timeframe. If it doesn't, we'll be testing 3500 again for sure. From the previous bounces from 3500, bulls have made clear that they don't want it to break. But it's a gamble. What if they have moved down to the next support for prospective bounce. Next support is 2950. Weekly candle has closed bullish. How will I trade next couple days? Scenario 1 -> The movement is not clear atm. Test of red line will confirm it for me. If we break the red line, I'll open a SHORT close majority of it around 3500 Scenario 2 -> If we test the red line and bounce, I'll open a LONG and look for 4200-4800 as my TP points. Scenario 3 -> BTC breaks the red line and breaks the 3500 support - SHORT and close between 3000-2900 Bounce from 3500 again - I'll wait for a pullback from the bounce for my LONG entry What do I think? Well, I think we are at a massive No Trade Zone right now. Waiting for a confirmation will allow me to trade the movement. Trading either direction without confirmation is gambling imo. What are my indicators saying? 1hr,2hr,4hr timeframes on my indicators are pointing down atm. Daily is still green.
BITMEX:BTCUSD.P
by vjsharma89
4
ETHUSD/BitMEX: INCOMING RESISTANCE LONG 20XWhats up cryptopians!! As we can see ETHUSD has UPTREND, Above i have posted a chart of resistance points! If you are looking for a community to trade with on ZOOM in REAL TIME with LiquidMEX sharing his SCREEN then drop me a comment below or send me a personal message and i will send you the link to my platform where we are trading on BitMEX as a group. I also have trading courses that i am starting to mentor NEW traders on BitMEX as my reputation on BitMEX speaks for itself. ETHUSD OVERVIEW Tested resistance at 120 Rejected. Will retest 120 when Shortly will breakthrough as BTC is going to 4700-4800 at the moment. Personal Trading plan has not been established yet with ETHUSD though i will keep you updated on how i will trade this, Most likely with lower leverage around 20x with ENTRY at 117-119 !DISCLAIMER!:THIS IS NOT FINANCIAL ADVICE AS I AM NOT A FINANCIAL ADVISER. THIS CONTENT IS INTENDED FOR EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY!
BITMEX:ETHUSD.PLong
by SolStackz
3
What's next BTC?SHORT TERM ANALYSIS If current 4hrly closes here it'll be a bullish spinning top. If it closes higher, it'll be a bull hammer. If it closes below 3910, SHORT is still ON. 3 hours from now. A lot can happen in 3 hours. Perfect LONG entry here would be 3780 to 3640 I'll close my complete SHORT around 3900 and seek a tiny LONG entry around 3910. LONG TERM ANALYSIS The chart is simple to understand. Confirmed Long to mid 5ks would be if we break 4.4k. Break top of red symmetrical triangle - We go up to 4.4k Break bottom of red symmetrical triangle - We go to 36-3500 range and most probably go down to 2900 range Break pink channel's bottom, we go to 37-3500 range Blue lines are some trendlines that could provide resistance. Time will tell. Closing below 3430 - Going to test 2900
BITMEX:BTCUSD.P
by vjsharma89
BTC Update - Wen Mewn? Not anytime soon.Yes, I'm still saying BTC is not gonna moon anytime soon. This 85% retracement has prolonged the bear market by another 6 months at least. Let's see what BTC has gone through over past 2 weeks. The first drop We dropped to 5180. Tested 0.382 Fib and went down Second drop We dropped to 4016. Tested 0.236 Fib and went further down Third drop Reached 3440. Saw 3 nice bounces from the current bottom. At the moment, we are testing 0.236 Fib again which happens to be the .618 Fib of last drop. We have a downtrend resistance to test (marked in red). We should keep moving sideways, test this resistance and get rejected. Next resistance is 4460. If we break this downtrend resistance, we can see BTC heading to 4460 and getting rejected or keep moving up to 4630 (.382 Fib) and get rejected. I am short term bearish on Bitcoin. Remember, it took more than 10 months to break 6k. From recent bounces at 3500, it's clear that we won't break it easily. Don't get me wrong, I'm long term bullish on Bitcoin but realistically, this bear market is far from over. This is how I'll be trading this. Initial Entry - 4165 Stagger 1 - 4430 Stagger 2 - 4620 Stagger 3 - 4760 SL - 4790 I'll update TPs once my initial entry gets filled.
BITMEX:BTCUSD.PShort
by vjsharma89
BCRASH LONG Trade!Yes, I'm serious. I drew this wedge a week ago but wasn't really expecting it to make a stop at the support. Now that it has, it looks like it could turn into a really good LONG trade. BCHZ18 is already at it's lowest. Well it is if you ignore that dirty wick to 305. I'm going to wait for a a bullish 4hrly close before jumping on it. So, basically this trade is not there yet. Need to keep an eye on it. Trade will be simple Entry - At Bullish Close of 4hrly SL - 415 (Below the support)
BLong
by vjsharma89
Where is BTC nowBIg red triangle all chart is in is descending triangle BTC currently in and expected to brake to the downside. Two possible formations on chart - wedge and double top. I think it's time to open long term shorts. Bull line doesn't seem to be achievable from what i see on any timeframe. Trade at your own risk. PS. I found that SPX 500 and BTC charts having most of the time simultaneous south moves. SPX is overbought and about to drop , Tim Cook sold all of his apple recently and i believe as top SPX company CEO sells his shares - it means something.
BITSTAMP:BTCUSDShort
by STRANGELIFE
2