ChristiaanvanderMerwe

ChristiaanvanderMerwe

A few plays to be had, won't play all of the movements but hoping to catch some.

ChristiaanvanderMerwe

Note: The ratio between 'length of time in grey box' : 'length of time from blow-off top till the end of blue accumulation box' is consistent between the fractals.

ChristiaanvanderMerwe

Short the backtest. Wait till we break out of accumulation phase and then long your longs.

ChristiaanvanderMerwe

These are my two primary paths for BTC. I am not ruling either out until we see some serious price action outside of this major symmetrical triangle.

ChristiaanvanderMerwe

Looking for some downside.

ChristiaanvanderMerwe

Short it to the ground.

ChristiaanvanderMerwe

BTC has some space to move up still, which means ETH may hang around here while the BTC pair suffers, however once BTC starts it's own corrective wave ETH will join.

ChristiaanvanderMerwe

Never hurts to take profit on a move over 105% Shorts also looking juicy.

ChristiaanvanderMerwe

Long your Longs and following that, open up some high leveraged Longs.

ChristiaanvanderMerwe

Regardless of bull or bear, buy support, and sell resistance. Easy as that.

ChristiaanvanderMerwe

It's always difficult to sell into strength and buy into weakness, however I have closed my shorts and now looking to long. XRP retesting key horizontal support, Moving Average support and falling wedge breakout trendline. That is a bit of confluence for at least a bounce, which could turn into something more.

ChristiaanvanderMerwe

The Market is in a symmetrical triangle (Continuation Pattern). One should respect the support/resistance trendlines until there is a confirmed breakout. If the weekly candles closes below resistance, what is your plan? I have mine.

ChristiaanvanderMerwe

ETH Resistance. T1 - $356 T2 - $400 ETH Support. T1 - $221 T2 - $196 If we reject here, look for support, if we breakout here, scale out at resistance. Simple as that really.

ChristiaanvanderMerwe

Smells like a bull trap on this low volume breakout with signs of exhaustion. ETH should cool off from here in my opinion.

ChristiaanvanderMerwe

It smells like a trap. Low volume 'breakout' with bearish divergence on momentum indicators suggests ETH needs to cool off.

ChristiaanvanderMerwe

Pretty neutral here at resistance, volume hits at a pullback to POC or even further to the macro trendline.

ChristiaanvanderMerwe

If BTC were to continue the macro bullish trend, I expect a sweep of the $7600 region before moving up.

ChristiaanvanderMerwe

This very well could be the last extension on this impulsive move up.