BTCUSD possible run to $7250Educational purposes only. Trade at your own risk.
Each dead cat bounce since our initial capitulation at $6000 back in February has caused a breakout, however what is most interesting is each bounce has reached 14-15% less than the previous high on the way down. You can't draw a straight line to connect these due to the timeframes, but it's quite obvious what has happened.
We have been in this consolidation zone for way longer than any other time period and it's tighter than in previous consolidation periods (look at June/July).
Overall I am bearish but a good trader looks at everything as a whole. Shorts are basically at an all time high on Bitfinex and we're about ready to squeeze a bit. If we break upward, it will cause shorts to close as people anticipate a full on bull run.
Trade carefully and manage risks appropriately. Most importantly, watch what happens at $7,250... if we get there. If we do, it likely needs to happen before the end of August.
Squeeze
BTC - New short squeeze is incomingThe amount of opened short positions is skyrocketing again. From 17k on Aug 2, it more than doubled by the end of the month and almost hit the previous record of 40k+.
Combined with the recent influx of negative news, it may very well try to reach the new high in the nearest future:
SEC Quashes More Bitcoin ETF Pitches in Another Blow to Crypto
www.bloomberg.com
Will Bitcoin Crash? Learn From History's Biggest Bubbles
www.bloomberg.com
#Bitcoin stuck below $6,500, and @AnthonyGriz is betting on more pain to come
twitter.com
However, the nature of such parabolic runs can be called anything, but sustainable.
It didn't end up good last time in mid April. I have no reasons to believe that this time it will be any different.
I will not be surprised at all if the market "suddenly" develops opposite to the direction mainstream media is pointing at the present moment.
Interesting SHORTS graph structure. NEW ATH COMING?!Previous highs become support for the SHORTS.. 3 times from now..
Will the ETF decision create a new all time high? It's more likely that the ETF will not be approved and this could mean we will see a new all time high on the shorts graph.
When we get a approval we will see a huge jump in the BTC price and the shorts will probably squeeze towards the bottom of the sea.
Time will tell guys!
No more "Short Squeeze".. Because Bitmex Funding rate is > 0For people who still think there will be short squeeze soon ( 21 Aug 2018 ) and the price will jump skyrocket like in April 2018, think again.
They already tried to do short squeeze when bitfinex short position was around 36k a few days back but the bull can only pump the price to around 6630$ and then slam down hard.
I think the better indicator to look for the short squeeze possibility is Bitmex Funding Rate.
Because when funding rate is < 0 ==> it's mean people hold short position more than long position.
The far from 0 down, the more of short positions accumulated. ( You can check rate history here coinfarm.online )
And right now, the rate is > 0 and will be 0.01% soon... it's mean that short and long are almost equal. So no more stupid bears will get Rekt in the near future....
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I think a lot of weak hand people, noobies or gamblers already got rekt at Bitmex and those people are out of the market ( no money! )
Right now, only some strong and ( a bit ) smart trader left, and no more stupid 50x-100x at the resistant zone so no more Rekt chain reaction....
The BIG Squeeze - XBTUSD - BITMEX - BITCOINIn this scenario, you would be going long right now and run a tight stop, but you would also be loading up your BIG short on the way up and DCA into each target zone as needed. The target on the short is in the low 5k's. This is NOT financial advice, this is just art on a chart. Good luck have fun.
BTC: 4 hr Inverse Head and Shoulders in play? BTC might form an inverted HS pattern on the 4 hr timeframe. The neckline is at 6550ish - if we break this level, it should trigger a squeeze of some of the short positions.
Also note the 14 day EMA is about to cross the 26 day EMA. This is a rare occurrence and I urge you to look at what happened the last time this happened.
RSI is testing support and MACD is still bullish. Good luck!
Prepare for Short Squeeze! 6500->8000 in few minutes!Remember April 2018 when everyone have no hope in crypto and a lot of ppl said it will go down to 4k?
And people just build up short position along the way and it reach the ATH at 40k short position at Bitfinex...
What happen next is... they got rekt! and price of BTC jump from 6800 to 8000 in few minutes. ( I still remember that moment, I having dinner and got rekt alert from Bitmex Rekt bot. )
Well, this time it could happening too. Because when most people looking at the same way, whale ( or maybe us lol ) will do the opposite.
I think if the price can stay at 6500 + it will be very scary because it might jump real bad because of short liquidation chain reaction at bitmex.
I think a lot of big order are around 6500-6800 range and it can be rekt so easily.
Anyway, it might not happen but who know! Better prepare!
GBTC- The Junior BTC ChartThis chart squeeze will soon lead to a chart POP. Whether the price will go up or down is anyone's guess. All I know is if you believe in crypto and want an alt trade to the crypto craze you may have found your window of opportunity. If you own no stake in this stock you may want to initiate your investment tomorrow, and built your stake from there.
Is TDOC a takeover target of AMZN?For all fundamental reasons the success of Teladoc is noble but you can see from this accumulation/distribution chart that someone is heavily accumulating the stock. There are multitude of reasons this could be happening. One super exciting and others very typical of trading in growth companies.
So let's start with my far flung idea. Amazon is pushing aggressively to get into the healthcare space. There was talks of Amazon buying a large insurance provider such as Aetna. A much more reasonable acquisition, and one that would be the perfect fit to stair-step them into the space is Teladoc. Teladoc conducts medical exams entirely online and over the phone. They boast almost 20 million customer accounts around the world and have an opportunity in the U.S. alone to do at least 75 times their current volume of consultations. What better place for people to find that than the Wal-mart of the online world. Amazon. For that matter if Wal-mart took notice they would also be a suitor.
Catalyst 2: Short interest. For a long time short traders were rooting for Teladoc to fail because they were spending heavy to acquire competitors and pushing growth over all else. Well those bets have not paid off at all. As a matter of fake with an estimated 38% of the float short we could see a short squeeze for the record books playing out before our eyes.
Catalyst 3: The future prospects for TDOC without it being sold. Even with no buyer TDOC has grown over 100% this year with their own internal marketing push and the acquisition of their second biggest competitor. They are insurmountably the leader of the pack in tele-medicine. They are the uber of doctors if you will. They are in the critical mass stage. Twenty million customers turns into 50 million real fast when people start to tell their friends how their doctors 'visit' fell from $160 to $40. There is no doubting it is a disruption of the mega status quo and several of those companies have gone on to be worth 60-100 billion dollars. That is a 30x-50x from today's 3.8 billion dollar value.
*** These opinions are my own and not meant to be financial advice. I am currently long TDOC calls.
SALT/BTC 4h - Aggressive EntryThis is my aggressive entry point for SALT. It has bullish divergence and is squeezing on the daily.
BTCUSD: Break Of Bearish Trend Line Means Bulls Taking Control.BTCUSD update: Inside bar formation leads to price spike into the 6431 to 6614 resistance zone. This should not be that surprising if you have been following my recent articles on S.C. and on here. The bearish trend line which was compromised in this move is the first confirmation that a broader bullish move is in progress.
It all started with the pin bar 8 days ago. I wrote about the significance of it's size and location. The 6431 to 6614 resistance happens to be a minor .618 zone relative to the recent 6850 high. The simultaneous break of this zone and bearish trend line are significant signs of strength.
As I wrote in my S.C. article earlier today, the shallow higher low which has been established by the inside bar, is a riskier location for a swing trade. Our plan is to wait for the next retrace in order to enter a swing trade long.
An attractive location for a setup would be the 6126 to 5977 support zone (.618 of current bullish swing). In light of the probability of this broader area, we are anticipating a higher low formation rather than a retest of the lows on the next pull back.
The mistake to avoid is to chase this market now. Even though it has potential on the bigger picture, the risk of retrace increases as it climbs. At S.C. we have been writing about accumulating inventory for weeks across all of these coins. As this market bottoms, we are in a general position to benefit, whether we catch the smaller individual trades or not. And that is the whole point of employing strategies across multiple time horizons.
In summary, do not worry if you missed this squeeze. As I wrote on S.C., opportunities are infinite but at the same time infrequent. Patience is your best friend in these markets. One of the most valuable skills you can develop as a trader is the ability to wait.
If a broader move higher is truely in progress, there will be more opportunities to get long that offer much better reward/risk. The next retrace will be a very important test for this market. Prepare for it now rather than fretting over the movement that has resulted from signs that appeared days ago.
BTC: short squeeze soon possibleHi,
a quick update, since BTC is doint it's boring thing again.
However, interestingly, we have now a similar situation as in early April. The shorts are rising more and more, and will soon be higher than the longs.
In this case, I think we'll see a nice short squeeze, as in April.
I'll keep a close eye on the long/short ratio at Bitfinex. The indicators are otherwise oversold on one week and three days, which coould indeed mean that we'll see short term pumps up to 10k.
And then when everyone is hoping for the bullmarket again, and longs are high again, BTC will probably brutally destroy all hopes and dreams and continue with the bearmarket till 2019, hehe.
Possible short term trade / short squeezeShorts are ramping up again and a squeeze could be in order. Keep in mind this is a counter trend trade so don't expect this to go beyond previous highs.
What I would suggest is look for an entry in the 397 to 414 range and aim for 580 as profit target.
This is a high risk trade.
Other indicators are also looking ready for a squeeze, it could take another 1 to 3 days before there is enough build up selling pressure to squeeze.
-RSI is almost below 30, aiming for 25-26 ish.
- Up trend line is in the 400 area
- MACD bearish
- Buyers have left the space looking at the DMI, needs a bit more selling pressure. It's currently at a 9.1 (green line) and would like to see it at 7.8 or 8.
- Shorts are high.
This is no exact science and lots of selling pressure could send us tumbling through the uptrend line etc, because we are still in a bear trend. So instead of placing limit orders right now and hoping for the best, it probably is a good idea to set an alarm at $432 ETH and look at the price action from there. If you see buyers returning on a smaller timeframe (1H for example) then a swing trade long could be in place. Be careful out there ;)
EOS greed - short squeeze might happenShorters are too greedy in EOS. EOS dropped 30% in the last 24h and too many traders are still thinking it's an easy trade to short EOS. But they forget to watch EOSUSD SHORTS chart. This chart says that EOS shorts are still builing up, but shorters are not able to push the price lower anymore. That's the same situation that happened to BTC on 12th april 2018. When shorts are accumulating at the same price level, if bulls manage to push the price higher in a green pump, shorters will start to close their positions. And when there are many short positions on the same price level, this results in a massive "short squeeze".
Of course don't forget that shorts building up and price not moving down is not a guaranteed indicator that price will go up. Bears can still win and push the price down in the end and close their positions normally. But.. if bulls manage to make a push, it's a very bad situation for the bears, as all of the will start closing their shorts together (= buying).
BTC shorts are also on a rise, with BTC daily RSI touching oversold level, history shows that we always had a rally after that. This is a good time for long EOS position imho. If you're not sure about that, just wait for the squeeze pump to enter. Also EOSBTC is in support zone atm (0.00160 - 0.00167).
SGYP Is Setting Up for A Big Move!SGYP seems to be setting up for a big big move. The Squeeze Momentum Indicator has been forming a triangle which is now about to close and the crosses in the indicator have been black for some time meaning that a release of the squeeze should be about to manifest. My guess is that spike will be to the upside, and it could go as high as 3.60$ (90%+ appreciation), which is the 0.382 retracement level of 17's highs and the 1.618 retracement level of this year's highs.
Fat cup and handle (C&H) on ZRX on the 12hrLooks like 0x ZRX is going to pop out of the triangle in the coming days. Looking for it to bounce up and test .000215 sats, then retrace down to .000195 range before continuing past resistance.
20 day EMA looking positive still for the run.
**Full Disclosure**
I'm not a pro trader, just going off of what I've been learning the past few months. Definitely not financial advice, do your own research. Any feedback is appreciated.
BINANCE:ZRXBTC