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Rangebound

BTC Range Bound and DownLike the tile says I am looking for $BTC to be range bound to short over the next ten to twenty weeks. $BTC was trapped in this very location back in 2017 where it spent nine weeks and traded from early August to the middle of October before it broke out of its range. $BTC is still holding under the 200 Exponential Moving Average (EMA) where it broke under back in February of 2018 which is significant because $BTC has not been under the 200 EMA since August of 2015. I am using a logarithmic scale on my chart because I have it on good authority that the institutional investors use this type of scale to make technical analysis decisions. Whats the importance of how institutional money uses charting to conduct technical analysis? It's important because it's institutional money that is pushing and driving the market. How can that be, you ask? Well, the crypto space is like the wild wild west. An unregulated decentralized space that's prime for old school market manipulation. Truly a shark's wet dream. Think about it for a minute. Who knew that the CME and the CBOE were going to launch $BTC futures contracts and be given approval to do so? Not many people that's who. The Winklevoss twins knew and many of their friends and family not to mention the top leaders and members of the SEC, FINRA, CFTC, CME and the CBOE just to name a few. It probable took two to three years of work, research and technological innovation to stand up these new financial instruments. Then they partner with Gemini? Why would Wall Street use Gemini's auction price for bitcoin to quote their $BTC futures contracts? Gemini is by far not the best or largest exchange by volume or any other factor for that matter. One could speculate that the twins are obedient servants to the master and will heel at command! Only the top big money traders were invited to trade the open of the contracts launch. How do I know this? When I found out the contracts went live I tried to trade them through my TD Ameritrade account and was rejected so I called customer support and was politely told to pound sand up my ass because my money was no good at the bar! That's when I realized that some of the investors that we invited to trade it first were like cut bait and just there to provide equity for the sharks. You know how the old saying goes right? If you look around the table and you cant find the mark then the mark is you. This also helped me avoid getting caught up in the FOMO and getting trapped in positions where I would have to DCA like crazy just to get back to break even. See this old pump and dump has been around along time and it goes back tens of thousands of years. It's human psychology and the Oligarchy are masters of that psychology and the manipulation there of. If you go and look at the CFTC commitments of traders reports you will see the smart money was heavy short from jump street and are still heavy short. Add that information with the massive advertising campaign that started back in August 2017 and led up to the contract open and you have a classic boiler room pump and dump. Which was also perfect timing to get paid just before Christmas. I'm sure that in the small circle of the Oligarchy the Christmas of 2017 will live in infamy. You can relate this back to the Bugs Bunny Cartoon's. If you can't beat 'em, join 'em! The Oligarchy realized the power of Bitcoin and the future implications that the loss of control over the established monetary system would have on their way of life and their suffocating choke hold over humanity. They realized that the spark had already been lit and the revolution is on! Since they were not invited to the party they devised a plan to slow the train down long enough to jump aboard and ride to uncharted territory. They paid their whores well just look at the twins and others like Jamie Dimon and how he sold that ass like a dirty gutter slut! Yea I said it Bitch! The institutional money (Sharks, Whales, Oligarchy) have been buying physical $BTC since they made the decision to launch Bitcoin Futures contracts over three years ago. When price peaked over $19,000 they were taking profits selling physical $BTC on the exchanges and shorting $BTC futures contracts via the CBOE and the CME. The $BTC price back in 2015 averaged around $250.00 a Bitcoin. That's the primary reason Bitcoin could fall back between $1,000 to $1,500 because there is no big money to defend price until much lower levels. One week after the $BTC Futures contract opened on December 19, 2017 there were 828 contracts long compared to 2,199 contracts short. The 828 long's were controlled by 18 individual traders compared to the 2,199 short's that were controlled by just 9 individual traders. This correlates perfectly to market statistics that have proven year over year that the majority of traders loose money and the masses are generally wrong. The point of my post is to say that personally I will be moving forward with caution. I will be watching the CFTC's Commitment of Traders weekly reports and waiting for a change in Relative Volume (RVOL). As the chart shows big moves are signaled buy spikes in RVOL. We are still in a active pattern of short pressure signaled by the recent spike in RVOL on the bear candles that I have illustrated above. Stay safe Crypto Soldiers and keep the faith because this is the future of money and they know it. They are riddled with fear each and every day because they know the gig is up and its just a matter of time until mankind unites and overthrows the taskmaster! Power to the people, all people. Viva La Crypto! Disclaimer I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise. The above statements reflect my own views, ideas and opinions and are not not a production of my employer, nor are they affiliated with any broker/dealer or registered investment advisor.
COINBASE:BTCUSDShort
by dipdizzywizzle
2
COST: Sell Short Potential but Strong Support at 200The Daily Chart of COSTCO Stock shows that there is some sell short potential on the short-term trend IF the stock breaks to the downside below the low of around 216. At this time, it appears that is more likely given the lack of large lot buyers in the chart patterns. Support levels show the point gain potential moving down from the current range-bound pattern. However, COST is less likely to collapse all the way down to 50% from its all-time high. Why? Because it was never speculated to extreme highs, far from a strong support level. The furthest it can go before reaching strong support is around 200 for a bounce and 190 for serious support and risk of rebound price action.
NASDAQ:COST
by MarthaStokesCMT-TechniTrader
1
BTC Update! Range bound Friday!Quick update. I am likely off the trading side for the weekend unless extreme volatility. Sometimes, just happy with the week and don't need to risk giving anything back unless extremely favorable scenarios. Those still active this weekend tho, we had a nice day of sideways action. BTC is range bound currently. We had a low of $3869 followed by a high of $4020 the next hour. Approximately 4 hours later we double topped again at $4020 exactly and approximately 5 hours from there we double bottomed with a low of $3870. Overall a tight range. Bears allowing for RSIs to cool off and can step into short positions easily with a break below $3869/3870 while bulls may seek to step in with a break of $4020. Definitely worth watching and likely a trade-able scenario depending on if playing bullish or bearish and which direction it breaks. But personally will sit cash for weekend unless something more exciting shapes up. See everyone Monday! Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
BTC just plotting along, putting everyone to sleepGuess we all should have taken a week long vacation and come back to BTC stuck at the same spot. Once again, $6000-6500 is really of no interest to me personally. It's becoming more of $6350-6500 now since BTC has been stuck in this range for a week now. I'm surprised this has not had a break up or down yet. If we break below $6350 or really $6345 then it's a wait and see if bulls again buy the dip. If we break above $6500 or really $6493 its a wait and see if the bears reject it at $6800s again. Either way, quick entries for a short or a long will see some nice movement for a good trade and then its, can either side see continuation (bears looking sub $6k and bulls would be looking past $6.8 and towards 7.4k. I'll be back to charts once we see a break of $6345-6493 range. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
BTC Update! Tightening range - will it pop up or down?Well it's been a few days since my last chart update so jumping off of there. At the time we were sitting around $6635 and I was being cautious as first red flag had appeared in my opinion with a slight uptick in bear volume. We then saw some follow through to the downside which dropped BTC to $6452. The bulls did hold $6320 which is a key level on the daily chart and they managed to rally back to a double top now at $6640 area but this was on low volume so did not hold/see follow through. Jumping to more recent scenario. Price range is tightening up nicely and similar scenario to a couple of weeks ago, we have multiple support areas and multiple resistance areas bunched up close together. These will be stops for both shorts and longs so I would not be surprised again to see a flush down through the supports quickly or a pop up through all the resistances. Direction to me is a toss up as nothing has me leaning one way or the other at this time. But everything in the middle of the tightening range is just a no trade zone for me personally and I have been all cash for multiple days now with no interest in the space until we see the break. Nearest support areas include $6475, 6452, and 6425. Nearest resistance areas have $6610, 6640, and 6642. Daily, I am still waiting for confirmation if $6823 is our topping out point of this move and if we are going to consolidate further down. A loss of the supports in $6400's will confirm this for me and will then be watching daily chart to hold $6320 and $6106. Looking for a break of this tightening range today or tomorrow and then need to see if it's a bear break, do the bulls buy the dip hard or not and if a bull break, do the bulls see continuation and beat $6823 to move back towards $7k? Many get bored in this type of range/market as the volatility is not there the last few days but set your price alerts, check in a couple times a day and adjust alerts based on any new lower highs/higher lows and enjoy other things while you patiently wait for more ideal trading environment. There is no need to trade these small ranges in my opinion. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
1
CADUSD - Watching for bearish signal from top of rangeCADUSD is currently range bound with price hugging the upper area of this range. In cases where price is range bound I am always watching for a fake break-out and pull back, which sets up the market for a push back down to the bottom of the range. The types of candlestick patterns I am looking for are pin bars, engulfing bars, 2 bar reversals, bearish engulfing bars, and evening stars. If a high quality bearish candlestick pattern formed I would consider getting short, but only after the pattern was broken out of . Finding key support and resistance and having a high quality pattern form is only part of the equation. Traders must weight for the pattern to to break lower to confirm the pattern, which will greatly increase the trades chance of success. As always... stay calm, be disciplined, and wait for those highest quality setups.
Short
by krugman87
AUDUSD: Avoid Noise And Let Market Find More Attraxtive Level.AUDUSD update: Consolidating price action after the recent leg of bearish momentum found buyers at the .7400 area. This is probably the most random type of price behavior a market can exhibit which means one thing for us: avoid. Momentum is still bearish even though recent price structure offers the appearance of some minor stability. Often these type of formations within this context serve as continuation patterns. My recent report in the GBP highlighted a similar condition which has been proven correct so far as price has explored lower levels. For the purpose of issuing a signal to our followers on S.C., the .7374 and .7351 reversal zone boundaries serve as the general area to evaluate potential reversal patterns. This means on a day trading basis, there is plenty of potential short opportunity, but you really must be nimble to avoid getting caught in any noise that is occurring on this time frame. The .7564 (.382 of recent bearish structure) and areas above offer much more attractive reward/risk for any potential swing trades on the short side. In summary, range bound markets may be tempting at times, and may even offer opportunities on smaller time frames. From a swing trading standpoint, randomness is high which means our criteria for a long or short is far from being met. Let the market decide where it wants to go and until it offers a more attractive scenario, there is no reason to take any action. Check out S.C. for a recent update on EUR/USD and Gold markets as well. Questions and comments welcome.
by MarcPMarkets
2
BTC: Bulls Hesitant on Follow Through [MicroAnalysis]BTC Microanalysis: "Forest for the trees but the trees still make the forest." After a good consolidation and pump, bulls are giving up the momentum a little too early by failing the 5th-wave breakout on smaller time frames, taking all 5 wave attempts just to reach the 141 extension. Normal follow through after a consolidation/pump will typically reach the 161 by the 5th wave at minimum, many times by the 3rd wave. As long as BTC holds above 9k, the Adam & Eve scenario is still looking good, but this does point to some sideways action and raises the potential risk of downside for the time being.
BITFINEX:BTCUSD
by serekamina
1