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Scalp-long

Potential rising wedge forming (bearish pattern) BTCGood afternoon traders, If this move happened on ANY other day than the weekend I'd be over the top bullish and suggest $50,000 is about to break HOWEVER funding is currently 0.3750 (this means shorts are being paid and a high amount, which also means people are fomo'ing into this move PLUS its a Sunday so I'm expecting some downside to shake out the weak hands. Target: $45,555 - $46,777 0Will provide attachments to this post as price action further develops over the course of the next day or two. Please get this technical analysis to 30+ likes to unlock more content from this channel as it helps new traders find my page! 👍
BITSTAMP:BTCUSDShort
by YurloTrades
7
$32,999 target still not hit (plan your trade & trade your plan)None of this weekend price action means absolutely nothing to me in terms of fundamentals, why? On weekends the price action is more manipulated because big players aren't trading and the liquidity is 2x less than Monday - Friday which allows market makers to chop out players before the following week. I'll stick to my plan, target $32,999 and if that fails $27,999. As far as I'm concerned this was a dead cat bounce (on a weekend) before continuation to the downside where price action has not been resolved fundamentally and in terms of structural integrity. I hope you all had a good weekend and are ready for yet again another fantastic week of trading opportunities to come. To all you greedy moon boys: just stop being so emotional its annoying 👍
BITFINEX:BTCUSDShort
by YurloTrades
5
$37,000 s/r flip into resistance over the weekend ($32,555 aoi) Good morning, I've stopped trading weekends and started to just sit back and watch how price action unfolds going into the following week. My bias has not changed (bearish) as long as we're trading below $40,000 I've got no reason to switch my bias (this would be emotional trading) and i've created this plan and will stay solvent until the markets show signs of my plan starting to play out. Congrats to those who traded my head & shoulders call yesterday (bearish scalp) I took another scalp long but didn't have have time to post TA here on tradingview. The weekends have almost 2x less than the usual liquidity which allows the market makers to paint a narrative based on false moves (setting the other side of the trade up for failure) I'm waiting until Sunday before making a decision for the following week (expecting usual weekend price action ~ irrational) to continue like usual. My target is $32,555 (if $35,000 fails to hold on the 2nd support test)
BITFINEX:BTCUSDShort
by YurloTrades
6
3 validation points = confirmed downtrend ($35,444 aoi) Once 3 validation points have been confirmed on either an up trend or a down trend its likely to reject in the opposite direction the validation point was secured at (If the down trend gets a 3rd validation point, it's likely to reject to the downside shortly after) $35,444 seems like an area of interest over the next 24 hours for a retest of the uptrend trend lich which currently has 2 validation points, needing a 3rd to confirm a bullish edge. Could this have been a bearish retest of the downtrend before faking out and then reversing back to the downside? The markets tend to react based on emotions from the traders (in terms of trading, and how the markets get information about the player, and their specific reactions) Also funding is 0.1338% and this tells me the ratio between shorts/longs is stacked on the short side which PA should need to cool down before another pump in the short term future. "The markets move the funds from the impatient traders account directly into the patient traders account" and this is accurate in terms of traders and their impatience when it comes to finding an entry for the specific position/trade setup they are looking for. Will attach TA updates to this post as the day proceeds. Remember, plan your trade and trade your plan! 👍
BITFINEX:BTCUSDShort
by YurloTrades
2