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SEC Greenlights ETF but Breakout failed! / Be Aware!!! 🎉 ETF Approval: A Cause for Celebration or Concern in Crypto? Hello, traders! Today's update comes with a blend of excitement and a touch of caution. 🎭 The long-awaited ETF has been approved, slicing through the SEC's comedy of errors. Yet, amidst the celebrations, a sentiment poll reveals a split view: 32% are elated 🚀, 42% content but expected more 😐, and I'm with the 19% feeling a twinge of disappointment 😔. Let's dissect the chart and today's happenings to understand why. 📉🚦🤔 The Missed Breakout: Bitcoin's Resistance Conundrum Despite the bullish news, Bitcoin failed to rally past the crucial support/resistance level. This yellow line isn't just any marker; it's the one I've been spotlighting since January 2023. 🎯 It's where Bitcoin's fate hangs in the balance. 🔍 Technical Analysis: Seeking Direction in the Crypto Winter Aftermath Our journey through the crypto winter revealed strong buy signals at $16K, $20K, with a confirmation dip at $24K, offering numerous chances to go long. However, with the ETF news failing to push us beyond the pivotal level, it's time to ponder – are we gearing up for a major breakout, or is it wise to 'sell the news'? 🤔 📈🚦 Strategic Outlook: Navigating the Crypto Seas Here's the strategy moving forward: Buy the Breakout: If Bitcoin ascends over $48,200, it's a green light. ✅🚀 Sell the News: If it lingers under FWB:48K , caution is your best ally. 🛑📉 🔁 Shifting Focus: Ethereum's Emerging Narrative Switching focus to Ethereum, the ETH/BTC chart hints at a shifting tide in altcoins, while Bitcoin dawdles at resistance. Whale psychology suggests that altcoins like Ethereum and Cardano could diverge from Bitcoin's path. 🔮 Anticipating the Halving: A Glance at Historical Patterns In anticipation of April's halving, historical patterns imply we could witness Bitcoin soar to the $100K-$300K range. Yet, for now, the prudent move is to wait for a decisive breakout above $48,200 or brace for potential retracements to $42,800 or even $40,000. 🧐 🌐 Macro Perspective: The Bigger Picture in Crypto Dynamics Keeping an eye on the macro scene, interest rates, and institutional moves post-ETF will be crucial. Remember, the market typically leads the news by six months. As we navigate these choppy waters, stay sharp and prepared to capitalize on both breakouts and pullbacks. 📊 🔔 Final Thoughts: Staying Ahead of the Curve Just how we did Here and Here and Here and Here One Love, The FXPROFESSOR 💙
Short
by FX_Professor
4
Bitcoin(BTC): Re-Test Tp $45K?Daily update on Bitcoin (Week 2 / Day 2) The price of BTC has had a massive breakdown and rejection of major zones at FWB:48K and 45K. The price is showing some recovery, which could push the price to the upper zone of $45K (for a small re-test). Although this would be a small movement, we are still aiming here for further downward movement to the $34K zone, where the majority of the population is currently! With that being said, we are also monitoring the $41,700 zone, which can be tested and broken, resulting in a continuation of downward movement without a re-test to the $45,000 zone! Swallow Team
BITSTAMP:BTCUSDShort
by SwallowPremium
Bitcoin Price Action around the FAKE SEC TweetToday at 4:11 PM EST (UTC-5) the @SECGov Twitter account posted confirmation that Bitcoin ETFs had been approved. Bitcoin price spiked immediately on this news but the following price action is most interesting. The hacker that made the Tweet, presuming the news would create a large, sustained bullish move, likely LOST MONEY on his illicit trade. Tradingview restricts Ideas to 15m or higher so see the 1m chart below: The fake Tweet caused a rise in price up until 4:15. Price then sold off all the way until 4:26 and only began to recover when the SEC regained control of their account and posted an update refuting the claim. What is interesting about this is that within 4 minutes it had become a "sell the news" action. I continue to think that the ETF approval news will in fact be a "sell the news" event when it occurs and this price action gives me some confirmation.
INDEX:BTCUSDShort
by norok
3
Staying Cautious on Bitcoin Until After The ETF DecisionsI don't know about you, but with all of the hype for the Bitcoin ETF going on, I am staying pretty cautious in the markets right now. Even though there are some big movements going in other altcoins, most eyes are watching good ole BTC. Nobody truly knows what is going to happen, there is a ton of speculation going on and the price action we are seeing is people trying to buy coins before the hedge funds go nuts with their money. Many say it will be a 'sell the news' kind of event. This may be the case. In 2017, the Grayscale Bitcoin Trust opened up futures trading on the CME, and that is what started the collapse of that market cycle. So who really knows. In times of crazy news cycles like this, I pay more and more attention to the charts for my direction. Right now I am seeing Bitcoin hitting a very solid line of resistance. It needs to break through the 48K level and find it as support for me to be more bullish. If we get rejected on the news, we could see a big dip down to the high 30's or low 40's which is where, if the ETFs pass, the hedge funds will be looking to scoop up. So don't be surprised to see some market manipulation going on. So we may see some fireworks for sure in the next couple of days, but whether they are red or green fireworks has yet to be seen. I am just staying cautious and not going to make impulsive decisions either way. What are your thoughts on the Bitcoin ETFs and where do you think the price will go?
COINBASE:BTCUSD
by thelogicaldude
The 'SELL THE NEWS' trade that got me the 'FXProfessor' nickname🎉📈 "Bitcoin ETF Buzz: To Sell or Not to Sell?" 🤔💰 Hi everyone! 🌟 Today is a special episode, a special post, and a special idea. First of all, Happy New Year 🎊 to all of you! We have Bitcoin at 45K, nearing 46K 🚀, prompting us to consider our options. Is it time to sell the news 🤷‍♂️💼 with the Bitcoin ETF drawing closer? The market is rife with FUD 😨, and Jim Cramer's opinions can't be ignored. He suggests that the ETF approval might be an opportunity to sell, but history has often shown his predictions to be off-mark 🙈. Let's delve into history for guidance 🧐📚. Back in December 2017, during the CME listing of Bitcoin futures, I made a significant sell decision. At that time, I wasn't on Tradingview but shared my thoughts on Facebook, predicting a manipulation in Bitcoin's price post-news 📉🗞️. Indeed, the 2017 all-time highs weren’t revisited for three years, validating my decision 🎯. Check it: Now, let's analyze the current scenario 🔍📈. With Cramer hinting at a potential sell opportunity following the ETF approval , it's crucial to scrutinize the charts 📊. I'm leaning towards a 50% chance that the market is poised for an upswing with the ETF's approval ✅📈. However, it’s essential to understand Bitcoin’s seasonality and cycles ⏳🔄. We're currently heading towards a halving year, with the next all-time high anticipated around the end of 2025 📅🚀. This differentiates the current situation from 2017. My focus is on a key resistance level at $47,071 💹🔑, which will be instrumental in my decision to sell or hold. If this level is breached, we might witness a significant breakout 💥💸. However, should there be a surprise ETF rejection, a fallback to lower support levels is possible 😱📉. To conclude, while my initial inclination was to sell the news, the current analysis suggests that might not be the most prudent course 🤔💭. Remember, each move in the crypto market requires careful analysis and an understanding of historical trends 🔬📉📈. Stay tuned for more insights and updates! One Love, The FXPROFESSOR 💙👨‍🏫💼 my special 'simple secret chart':
Long
by FX_Professor
15
After ETF approval, selling is likely to continue on Altcoins.Not trying to introduce more FUD. I just want you all to be aware of what continues to occur in the altcoins space. As you have seen my recent video, major levels are breaking everywhere. This continues to be the case and, in fact, even the strongest of the altcoins are starting to struggle. TOTAL2 is showing a break from our ascending channel as we look to retest support below at around 683B. Below that we have our inverse H&S neckline at just over 620B. I can see us retesting that as well in the coming weeks. I will be avoiding altcoin entries this week. Only the most risk adverse may want to play any sort of spike here which would likely follow confirmation of the BTC ETF approval. But I do expect any spike or wick up to be quick, as the market may then sell the news.
CRYPTOCAP:TOTAL2Short
by stewdamus
BTC SHORT/CRAB, LET GO.BTC looks to be in a short term distribution phase, with a likely top already in ~47k on CME. Expect moderate volatility this quarter, where I expect constant violent 10% swings in either direction between 46k and 41k until the ETF approval. Afterward, expect a drop to ~38.5k by the end of January. Note, January EOM has the highest likelihood of dropping the furthest beyond the "Q1 High probability range noted on the chart" towards 34.5k. Breaking out the Q1 Range will likely result in continued momentum to follow until the next line of support/resistance, noted at 50k or 34.5k. The last line of defense will be ~31.6k in the event of a full liquidation cascade as it supports the previous sideways structure we had between 32k and 25k since March last year and acts as the 0.5 fib from the ATH to this cycle low. If we drop further under 30k, than you must accept the increased probability of 46k being a bull trap and being the largest rug pull to occur and we head toward revisiting 20k, 15, and even 10k. RWI (Random Walk Index) and LS (Liquidation Screener) are the indicators used. RWI is printing bearish divergences along with starting to crossover toward bearish trend. LS probably has shown the top as it has hit the red bearish territory and recently dropped out of it and heading over the median line currently at 33.7k (but is rising and i could see it bottom out toward the lower side of Q1 probability range by EOM JAN or even EOQ) Overall, I believe the ETF may be a sell-the-news event that will in the grand scheme of things crab between 46k and 41k, until the end of Q1, but with a short visit to 38.5k. Breaking out the expected range of 46k-38.5k, begets continued momo in the same direction. Take note this is likely due to lowered overall volatility of BTC maturing as a whole. But alts may push forward after the expected flush. Let go. Relax. Q1 Ranges: High probability 46k-38k Moderate probability 52k-30k Max probability 54k-18k Trades: Short @ 44k TP 41k, 39k, (may carry it down to 30k depending on PA under 39k) SL 47k Short @ 50k ( if expected range breaks out) TP 40k, 35k, 32k SL 54k Long @ 39k TP 44k, 50k SL 37.5k Long @ 35k & 32k TP 40k, 50k SL 29k
CME:BTC1!Short
by linebands
ETHBTC days away from 1day chart goldencross.Here we see the monthly logarithmic chart for the ethbtc pair so the impending golden cross is not shown here. It is only a few days at most away from crossing and we can see here on the log chart that the ethbtc chart’s priceaction is well above an inv h&s pattern and likely has validated the breakout of this pattern even though we haven’t reached its full measured move target just yet. We can also see how price action is now poking a monthly candle above this monthly bullflag in white here. I think it is very possible for ethbtc to continue pumping past the 1day golden cross on its way to hitting both of these chart pattern’s (bullflag and invh&s) targets. However there is such huge anticipation for Ethereum switching over to proof of stake that there is a high probability since the date for it has been announced so far in the future, that it will be a buy the rumor sell the news type of event that pumps up until the event then dumps the week or day of. The one possibility that could keep this from being a sell the news event however is If enough people post predictions that it will be a sell the news event…in which case if everyone in the herd is expecting a sell the news dump it could even continue to pump day of. For now though, it seems the overall sentiment believes the switch will lead to a pump so sell the news has a higher probability at the moment. That could change the closer we get if more and more analysts and youtube personalities start warning of a sell the news event. Quite the paradox really lol. In the short term however I think continued upside after the golden cross is likely, but if we dump on the day it switched to proof of stake the golden cross can still easily be a fake out that flips back into a death cross soon after, so it’s wise to stay vigilant. *not financial advice*
Long
by DrDovetail
030. PIGGISH PLAY - Sell The News This WeekThis seems like a pretty blanket statement, but I believe that it will succeed regardless of the type of news being reported or whether the underlying asset in question is directly the subject. What I mean is that if you were to sell all earnings reports prior to the announcement, it will be a net winning strategy. If you sell the major indices into the FOMC meeting, broadly speaking, it will be a net winning strategy. And most of all, if you sell a handful of stocks into the GDP estimate, it will be a net winning strategy. To refine the blanket down to a single thread, I would say that selling a major index ETF into GDP will offer the greatest risk/reward amongst the vast array of news that is due to report this week. The reason is simple, but not terribly obvious to the new investor: the market is damned to fall either way. Say GDP crushes estimates (cannot imagine this happening unless the numbers include the FED's asset purchases), then the first thing to react higher will be interest rates. If GDP merely beats estimates, you will see interest rates jump aggressively and immediately. Nobody is going to believe Powell's insistence on sustained easy money this time around if the growth numbers are there. Ok, but what if GDP misses to the downside? Well, I find this hard to believe because its only a rough estimate and data seems to only come in favorably these days. But under this unlikely scenario, the obvious reaction is to sell your equity because the economy is nowhere near the point of recovery. Thus, stock valuations are not aligned with "reality", and ought to price discover accordingly. Is Powell's outcry for sustained easy money more believable in this case? Yes it is, but who cares? Easy money is old news and has been essentially priced in perpetuity already. My point is that it is very likely that the broader market moves considerably lower in reaction to economic data, earnings reports, and most notably, the all-important GDP estimate. Thus, SELL the news this time around. Better yet, buy DIA PUTS as per the Pig-Specs below: Pig-Specs: Main Short: Buy (LONG) DIA (Dow ETF) PUTS - Strike 332, Expiration 05/07/2021 Offset: Buy (LONG) IWM (Small-Cap ETF) CALLS - Size - 1/3rd Size of Main Short, Strike 230, Expiration - 05/07/2021 If the market continues, I think the Small-Caps will benefit most poignantly, which is why I'm using IWM as an offset for this trade. -Gross Domesticated Pig AMEX:DIA AMEX:IWM AMEX:SPY NASDAQ:QQQ FRED:GDP
AMEX:DIAShort
by UnknownUnicorn5511258
6
$ORN: Impatient are selling. I'm buying dips. Orion Protocol terminal launch = sell the news event. Bull flag pattern with small break downwards and now bouncing of the .786 fib like 6 times in a row. Wouldn't be surprised to see it quickly wick down as a "shakeout / capitulation" event before reclaiming the flag pattern and then continuing on its way towards all time highs. For me? this is a buy and hold. Spot. You want to hold as much $ORN as possible for Q2 staking. Once the staking rewards are made evident by people showing how much money they're printing.... the fomo will begin again.
OLong
by its_maxbro
Hoag's 80% Value Play-Election "sell the news" (Short)Hoag's 80% Value Play (Election Day Short-SELL THE NEWS) Uber looks Toppy, Multiple Potential Dbl Tops (Unconfirmed) Reasons for Trade: 1. Have retraced to areas of .618-.786, and to + .786 of its range from IPO high and most recent high, respectively 2.At volume high rn, break back into value, and held for 2 consecutive 30m candles, suggests price will revisit value low 80% of time. VL is at reload long levels 3. MACD internals Looking weak. 4. Was recently oversold, and is hovering near OS 5. Significantly decreasing buy volume impetus, very telling. RR 4.22:1 Enter trade at confirmation of M top, at break through .786 level on downside and acceptance into value at $35.96 Stop set at M Top* at $38.25 Move Stop to scratch at touch of value low near potential reload long levels, $26.30. If accepts into value low, trail stops, 3 highs/Lows method. Caveat: This is a short trade in the event of unfavorable election results where rideshare worker's rights (gig economy) is on the ballot in California. NYSE:UBER For entertainment purposes only, not trade advice. DYOR!
NYSE:UBERShort
by Cryptough
1
$FSLY - SHORT - Head and Shoulders$FSLY is in a position trying to purchase tik tock. Trump has given a deadline of November 12th. This is a deadline for after the elections to avoid any major fall out that could influence the elections. Right now the stock has formed a Head and Shoulders pattern but doesn't have a huge sell off. It is still in an upper channel that can take this stock to $150.00 before you see a reversal. Probably not a good trade. We could see news come up within the next few days suggesting the deal can't go through because of China not allowing the licensing of the software to go through... blah blah blah. This would be a great catalyst to a selloff. *INSIDER SELLING* - Director sells -%50 of his shares 16.692 million dollars worth September 1st. Why sell now if it can still continue to $150? or is he just reducing risk by half? This is not confirmation that H&S pattern has confirmed until we break below the $72.55 with volume. However I am in a partial position hoping for a reversal using a tighter stop loss than below. Will look for next short at $150.00 if this pattern doesn't form. Entered trade $91.01 Stop Loss $103.10 / tighter stop loss $99.89 Will add to short position with more confirmation with a break of the trend line in next two days (approx $85.00) Take partial profits at: Target #1 - $72.00 or 100 day MA (sell 1/2 position) Target #2 - $50.00 (sell 1/2 position) Target #3 - $29.00 (close position)
NYSE:FSLYShort
by mcherot
1
KTOV announcement soon???Kitov Pharma plans to launch sales of Consensi in the US in May 2020, according to a March press release. "Company’s marketing partners in the U.S. plan to commence selling Consensi in May 2020. Kitov expects to receive between $28 million and $36 million in milestone and royalty revenues from 2020 through 2022." It is easy to see that the past two months of uptrend are because of the anticipation of this launch. AH/PM we have seen an 8% price increase which is always a good sign for a continued bullish trend. A textbook bull pennant is forming on the hourly chart. This has already broken out of the pennant in PM to the 0.236 Fib. I will be looking for entry after the break of the .50 resistance. Expect heavy resistance at .55. Looking for PT1@.65c PT2@.75c.
KLong
by Crispier-Bacon
USDJPY: buy the rumor, sell the fact - possible scenarioI think the markets are pricing that the US-China Phase 1 deal is going to be signed, so the risk-off sentiment is still present. The idea of going short in USDJPY is based on a well-known phrase: buy the rumor, sell the fact (news). Are we going to see the price going down? Who knows, but it's better to be prepared, if the price breaks the support zone around 109.3 price level it's decent to join bears with stop above 109.65 and profit around 108.4 (R:R=2.57) // Follow me to stay updated with my trading ideas.)
Short
by GIgor_021