I think its funny how i put a text box a week ago that if btc tags 18.3k, bottom is in, and to go aggressive. Thinking more about the risks still ahead for BTC, i now disagree with that statement, and think we see low volatility env into the beginning of the year but will see some actual developments in DCG/GBTC at the latest in late Jan. Also feels like by then...
Long term outlook for ILV based on predicted land sale and game launch dates
The NFT economy is booming and there are only a handful of marketplace NFT projects with a token to show for it. XYZ is tapping into a demand zone right when XYZ yield farming is coming to an end. It has been almost 20 weeks since XYZ launched its governance token, which means 20 epochs. Most of the yield farms will be ending which means a greatly reduced amount...
Complacency shoulder???
Traders playing this range have placed their stops around $32300. If it breaks that level, I anticipate it will move fast. Invalidation below $31.9k. Don't expect a bull flag to play at completely because $33k-$35k is very heavy resistance.
Bullish SFP on 15min. RSI near lows. TP 33550. SL local low.
If the market gives me this entry, in for a 4:1 short trade. Risking ~2%.
I would imagine the pros would need a large of amount of liquidity to get their orders filled, and the obvious level seems to be a sweep of the neckline into low $33ks.
I've been doing some reading about Auction Market Theory lately, and have tried to apply those concepts to what we're seeing in Bitcoin. Let's do some hindsight volume profile analysis to try and get a sense of potential outcomes for the future. No need for fractals, just pure theory at play between the interaction of buyers and sellers. Looking at the volume...
Bullish divergence occurring on 4H and daily structure. I really like failed swing patterns where SNX shorters tried to take the price down to sweep the lows and it quickly recovers all downside. The 4H structure just looks imminent for a breakout of the POC. These setups feel pretty comfy: Strong downtrend into HTF nodes, bullish divergence, last daily...
Can see something like this happen. I don't think investors have capitulated from the recent sell off. I think the system had too much leverage and 2017 trauma was still fresh. The liquidations created forced sellers. People didn't actually want to sell, they got rinsed. For real capitulation, I think it requires months of grind down and re-tests of the $30k...
Increasing vol on right shoulder Still down ~70% off highs Opened long @ $7.12