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Dust Settles In A Trading Range (More Accumulation!)Hi all, My last post was at the begining of the uptrend which is still in play however with a correction and sideways accumulation right under the sell wall. That said, there's nothing concerning right now and i did not make any changes to my position. However, since we are in a sideways trading range, we have an opportunity to take a short at the top and long at the bottom. So, i will be looking for invalidation of an upswing at 49k before taking a short and vice versa for the downswing at 43k. For risk management and hedging purposes, i'll not short 100% of my account, but instead between 15% - 50% and keep both positions open, unless one of them gets invalidated. BTW, My 100k target has changed as we have continued accumulation. I'm now looking at $123k as the pnf horizontal count suggests and we keep on accumulating! Normally i don't trade intraday charts, but this is a good opportunity i don't want to miss and besides, i'd like to practice some swing trade as i have lots of free time now :) As always, trade safe!
by BitcoinMillio18
24
Here's My PlanAs we are reaching to the top of the trading range, FOMO is kicking in, but remember at 29k, we were all expecting to go down. Same goes here, we are all expecting to go up, yet we are still in the trading range. It's important to hold on to your feelings now and stick with the plan or you risk buying the top. Next levels i'm watching are: 40.841 - Top of trading range set by Automatic Rally 41.330 - Upthrust June High 43.988 - This is the definition of bear market at 200MA Breakout will be above 41.330 and i'm planning to buy above this level with 15% of my portfolio, leaving 85% for a possible pull back from 43.988. This could be a rally to the death cross (200MA & 128MA), i'm always being cautious. I'll increase my position above 44k. Hold on, it did not happen and may not happen.
by BitcoinMillio18
27
Bitcoin BTC - What is next after the pump and dump? Buy or sell?Bitcoin BTC - What is next after the pump and dump Dear friends You see here the 12 hours chart of Bitcoin. This is therefore a medium term analysis. We see that after the pump and dump action that Bitcoin has dropped and is still in the trading range. This range is between the gray zones from 28800 to 42000 USD. How do we proceed in this range is the big question. In a range, a stochastics or other oscillator works best. So below is a stochastics and it is now crossed and in overbought modus. The best time to take a long position is at the bottom of the range and a short position (or just no position and sidelines ) when the price is at the top of the range. So currently Bitcoin is somewhere in the middle. Right now the stochastics is suggesting a decline because it has crossed and is over bought. For going long, the best buying moment is to wait for the Stochastics indicator to drop below the 20 level and then make a cross upwards or go short with a stop at 42000 when the price of Bitcoin hit the upper boundery of the trading range. You can also use Candlestick patterns at the top and the bottom for entry signals and of course you need to zoom in on a lower timeframe like the 4 and 1 hour. This will help to find a more precise entry. A divergence in the stochastics is extra confirmation but as you already know, it is not always happening. By the way friends, you do not need to be in the market all the time unless you are trading on the very short term. Of course you have the problem that the market goes on 24 hours a day and therefore also when you are sleeping... The stop loss is exactly below 28800 for Longs and 42000 for short positions. So now it is waiting see Bitcoin going to the bottom or top of the range for a low risk high reward trade. This is because the stop can be placed close to the entry and the targets are far away. In the middle it is much more risky because of the chaotic price behaviour and manipulation. What is the expectation now? A rectangle after a drop (red arrow) is a continuation pattern. The longer it lasts the more reliable it is. This does not mean that it always happens. It may be that we break out on the upside but again according to the rules of TA it is on the downside. If this is reliable now with the unlimited printing of central bank Dollars en Euro's with the trillons that is the question. We see in the stockmarket already a rise since the central banks are printing unlimited dollars and we now even have all time highs. This happens all in a period of Covid, huge rise in debt and more. So it is very clear that the money is just indirectly injected in the markets what prohibits a stockmarket crash already for 10 years in a row). Bitcoin however did decline 50% but now it is integrated in more special funds, so the impact of the printed Dollars will increase for sure. What are the targets if we get a breakout? That is the largest move in the range that is projected on a breakout to the upside or to the downside of the range. A breakout below 28800 has a target of 17500 usd and a breakout above 53000 usd. It is clear and simple which is always the best! The ideal time to buy on a breakout however is after a retest of the breakout level. see the chart for examples. Very important: After a breakout the stochastics can be a long time in overbought or oversold mode because oscillators work well in a trading range but not in a trending market. Can you trade within the range? Yes perfectly possible if you trade on shorter timeframes. However, this analysis is for the medium term. The longer the time frame the more reliable the results are because the noise has been filtered out. --- > In this market I advice to use tight stops. <--- Please share your thoughts and idea's below dear friends. What do you think and why do you think it with or without a chart. I wish you all good luck with trading! Disclaimer This is my view, no advice to buy or sell. Also always do your own research! --->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
by PegasusTechCharts
34
Crypto Markets In Trouble : Potential Wyckoff Warning SignWhat is TOTAL2? The TOTAL2 Shows us the Total Market Capitilisation of Cryptocurrencies (TOTAL MARKET VALUE) the amount of money in crypto excluding Bitcoin basically. Investing and trading based on price alone is like seeing the tip of an iceberg in the vast ocean, analyzing the Market Cap of cryptocurrencies is a great way to gauge the strength of Altcoins and the Market in general. ------------------------------------------------------------------------------ Potential Wyckoff Distribution: Trading ranges ( TRs ) are places where the previous trend (up or down) has been halted and there is relative equilibrium between supply and demand . Institutions and other large professional interests prepare for their next bull (or bear) campaign as they accumulate (or distribute) shares within the TR . In both accumulation and distribution TRs , the Composite Man is actively buying and selling - the difference being that, in accumulation, the shares purchased outnumber those sold while, in distribution, the opposite is true. The extent of accumulation or distribution determines the cause that unfolds in the subsequent move out of the TR ." See the Wyckoff Distribution Schematic here for comparison: www.wyckoffanalytics.com --------------------------------------------------------------------------- Thoughts: In this particular trading range we can see that the SUPPLY clearly outweighs the demand, with the equilibrium now falling below the initial formation of the trading range you can see on the left. Unless this gets back above 850 billion or so with the creation of a Inverse Head & Shoulders pattern (marked with yellow trendline) we are entering another potential mark down phase for Cryptocurrencies. Click this image to learn about Inverse Head & Shoulders Pattern: --------------------------------------------------------------------------- See my Bitcoin Distribution idea here for comparison: (Click and hit PRESS PLAY) Note the clear LPSY Last Point of Supply where BTC rallied with low volume and failed to get back inside the Trading Range. It is one of the key characteristics of DISTRIBUTION patterns.
CRYPTOCAP:TOTAL2Short
by Worth_The_Ri5k
7
Bitcoin Bullish Case Review w/ Volume ProfileNow that Elon & Jack had "the talk" and price jumped 6.5% as of writing, lets look at the charts and review the bullish case. I've first shared the volume profile analysis back in July 8th. At the time i published this analysis 134.000 or an extrapolated $18.76 Billion worth of Bitcoin was sold. Note that the number of Bitcoins are JUST Binance numbers. We multiply this by 4 as the market size of Binance is 25% As of today, right after Elon & Jack's "the talk" this number rose to 146.000 . Adding another 12.000 Bitcoin to the sell side! Yesterday this number was around 154.000, so just today 8.000 Bitcoin's were added to the buy side and that's it. That's the pump! Again, these figures are Binance only. So, when i compare 8.000 against 146.000, i cannot see any sign of strength other than manipulators wanting to sell you more Bitcoin using this event as hopium. Instead, you want to focus on perhaps the most important yet underrated event just happened yesterday as the break of 30k! You might say so what? Supports and resistances are meant to break, but this one was different. It was the low of May, a monthly low AND the low of the current trading range, which must not have been lost - at all costs! Composite Operator wants us to focus on the 6% price increase today, but they already took down 30k, ready to be slashed! I'm not a bear as a default, but i learned the hard way that these hopiums don't end well for me. That's why i stick with my analysis and the bullish case which will turn me bullish. So my bullish case is; 1- The grey area above is the overbought zone, it needs to be crossed 2- 37k stands as the sign of strength and needs to be reclaimed 3- 41.3k is the upper resistance of the current trading range, needs to be crossed When these conditions are met, i will consider being bullish, along with other parameters like volume. Since i have existed at 40k, i have no problem getting back in at 42k and i've stated this on many of my analysis. Todays price action was just noise and didn't even print anything on a p&f chart. What has printed on p&f was the break of 30k and that's the only data point i care about now. It's still pointing 14-16k. Yours faithfully. PS. I've added a free resource page in my signature so everyone who invests time, can learn technical analysis.
Short
by BitcoinMillio18
61
Bull Trap AheadHi Bitcoiners, Today, i want to take a look at P&F chart as it filters out most of the noise in price action. Notice how the volume was lower during the rally at the same price than our current volume. This alone indicates whales and institutions are net selling, each day, slowly. But, let's say we are in accumulation and we will go up. Then here is the list of resistances we need to clear out in order to call it a new uptrend, because remember we are bound into a sideways trading range and we are still in it. Bullish case: 1- Close above 35.500, ideally 36.500 and we have a new higher high 2- Break above 37k where the point of control (price with the highest volume) AND the supply down trend crosses 3- Break and close above 41.346 and exit the trading range So, we have quite a few challenges before going to the moon. The second chart i'd like to share is the monthly chart. You want to look at higher timeframes in times like this in order to avoid traps, noise and false signals. Again, notice how the volume is above the average. The aim of these drops is to exhaust supply or the sellers. I don't see any shortage of sellers right now. And the daily candlesctik chart. In the last 8 days we have a textbook bearish pattern called the "falling tree". It happens after a downtrend with 3 consecutive bullish candles. Read more here www.investopedia.com Speaking of candles, i'm watching daily candles slowly in the making and realized it's being engineered rather than a market action. We can easily see this on the session volume profiles on a daily chart. This chart is like an x-ray of candlesticks. You can see how the dump was started with such a small volume and giving us a fake rally with small volumes just to match support lines, while plebs are buying. So, i need the bullish case events i mentioned above to happen in order to become bullish. You don't want to FOMO here and besides, if we are going to $100k, we'll have plenty of chances to get back in. You may even call it a rule, never trade within a sideways trading range, you may get chopped off. Trade safe and beware of traps!
Short
by BitcoinMillio18
30
This is the resistance on AMC that you want to see broken! 😎Yes, we are inside a range, and it is pretty easy to trade ranges: Buy near 51.87, sell near 64.95. I like to trade ranges because the stop-loss are always so small, and the potential reward are always great. Now, AMC might hit the 64.95 again. The breakpoint is the 60.23, once broken, this will lead AMC to the upper level of this congestion. The 20ma is pointing up, and this is very good. It is pretty rare to see the RSI near 100, and AMC is one example of this weird phenomena. Is there a possibility that it’ll break the 64.95 and fly to the 80s, or even 100s? Yes, and that’s why we must be careful here. Personally, I don’t like to short these stocks, just to buy near supports and see what’s the deal. The black lines are seen here once again to help us understand what’s going on, and which points we should trade. Now I would wait for AMC break the pivot in the 30min and hit the 64.95 again, before anything else. If you are holding AMC, the 64.95 is the breakpoint you want to see broken. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:AMC
by UnknownUnicorn21312077
TSLA: This is what we must know about it!Hello traders and investors! Let’s see how Tesla is doing today! First, yes, we have an accumulation around, and Tesla is trading inside a range between the two black lines. Only a breakout from any of these lines will tell us what Tesla will do next . It seems the $ 571 is a support in the short-term, while the $ 635 is another resistance. But the daily chart has an interesting pattern too: We have a Triangle pattern, which is a continuation pattern, but this is not a rule. We see that the volume is higher during the bullish days, and lower during the bearish ones. Yesterday, Tesla hit its support and now it is about to react. If it does an upwards breakout it’ll probably reverse the trend for good, and defeat the $ 635.42 and seek the $ 715 again. Remember that we have a gap at $ 733, and so far, TSLA filled every single one of its gaps that appeared above the price. But if Tesla does a downwards breakout I see it at $ 538 again. For now, I’m not working with the possibility of it losing this floor. TSLA is in a quite decisive moment! Remember to follow me to keep in touch with my updates, and support this idea if it helped you! Thank you very much!
NASDAQ:TSLA
by Nathan_The_Finance_Hydra
4
Trading inside a consolidation! 😒Now the situation is getting clearer on NIO to me. I see a consolidation between the 42.34 and the 40.89. To the side it breaks, we’ll see a good movement next. If NIO breaks the upper line, then the 46 is the next stop. If NIO breaks downwards, then the 20ma is the target. It seems simple enough to me, but it is not over yet! The problem is the RSI. We have a small divergence, and it is overbought. This makes me more comfortable with the idea of a downwards breakout to the 20ma. Then the RSI will cool down, and the risk-reward ratio will increase too. If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉. See you soon, Melissa.
NYSE:NIO
by UnknownUnicorn21312077
8
Absolute Capitulation.... what's the plan now? For those new to trading or Crypto welcome to the big show. These moves are normal and happen more often than we would like. If caught on the wrong side these moments aren't fun, however its these same moves that have provided so much opportunity for great buys that have grown funds and changed many lives. Congrats if you didn't panic and bought yesterday's crash. Those that have put there trust into me and take the time to follow and read my content I say to each of you I'm sorry that I didn't see this sell coming. Had I known I would have helped warn you if I could have. For many of us long time holders we don't sell on those dips but continue to buy more and adjust our timeframes and look to the future. Remember this will pass and good things are yet to come. For those that sold on the dip, its not a total loss. You must learn from each trade and the experience over the years adds to your ability to spot opportunities and not let fear run so much of your trades. I have outlined the two trading ranges that we are caught in at the moment. Between 30k-40k is a range that could continue for sometime. For obvious reasons a break of 30k would be detrimental and a sure sign of a change in market cycles in my opinion. Taking this one step at a time.. a break up thru the resistance of 42k can be a good sign of moving to trading range 2. Expect this 42k line to be backtested at least 1-3 times as it shows it can be trusted as support. Trading range 2 could be very quick but also could take weeks of sideways action as the demand gets burned up in accumulation. The hopeful path is a move towards the strongest resistance line of them all 48k. IF we can show a break of 48k very good things can happen to Bitcoin. Bitcoin has been on quite the move the last 6 months and we need to remember sometimes sideways is a chance for the engine to rebuild up steam. Hope your all well and staying positive about the things in life we can control. Greatness is not measured by what a man or woman accomplishes, but by the opposition he or she has overcome to reach his goals. Stay humble, Stay kind, Stay Patient. Let's see how the next couple days go for Bitcoin and the rest of Crypto. . I was blessed to buy the bottom of the Covid dip and this last sell off seems so dang similar. Shark still has a hunch our best days are still ahead.
COINBASE:BTCUSDLong
by Bronson-TheShark
4