marketgang

marketgang

This is a risky setup, because we are in a downtrend on all timeframes. But long because the price has calmed down and we might get a small countertrend.

marketgang

This time around my analysis is focused on the ongoing downtrend structure in the medium term. My previous setup is still intact, check it out here: If price does hit the 62000 range i will be exiting my position and looking for a short around 63000. This short is on the premise, that BTC will do a rounded retouch on medium timeframes to the 58500 price range...

marketgang

Hi guys! After a succsessful short in the previous setup (VOL6) i picked up a fast long from the 58500 area and did a short timeframe exit around 60500. Now price is still in a downtrend on medium to long-term timeframes and a risk of another leg down is there. Considering that BTC is going to range trade between the current low and previous high made on 10th...

marketgang Updated 

Today the chart looks more bearish on the shorter timeframes, but overall BTC is holding a uptrend structure on longer timeframes. My expectation is a brake from the uptrend formation to a sideways market structure. Considering that the trend has run out of steam after a new ATH made on the 10. november, as price action is suggesting, im going to short the market...

marketgang

From a technical perspective BTC is in a uptrend on higher timeframes, but to my concern it seems that this trend has run out of steam and in my opinion there are two possible scenarios about to play out. 1. BTC will respect the current uptrend and the higher low marked as a thin blue box and will try to retest the previous top. 2. BTC will brake down from its...

marketgang Updated 

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marketgang Updated 

Bulls took control of price in the 60K level and gained about 4% from that level. Since our counter-trend formation was invalidated, i had to close the short from the previous session: Right now we are at the high range of a high TF hight point and waiting for a resolution of a situation. Short term cosolidation is taking place on lower timeframes. Weekly close...

marketgang Updated 

Not much has changed since the previous analysis. BTC counter trend is not moving very fast and higher TF-s like 8H has a trend low point structure extension (blue area), that might act as a cushion for longs and there is a possiblity that the countertrend structure will be broken in the short term (C-T). In case we exit the countertrend, BTC will move towards...

marketgang Updated 

Hi guys! Yesterdays trade reached Target price, but if you did not close your trade, then NOW is the right time! I closed my position with no loss. Market conditions have changed, because higher timeframes show a (weak sign) of a structure brakedown so we are not going to wait around for the stop loss to hit, instead we take a opposite SHORT position. Every time...

marketgang Updated 

BTC is currently trading in a uptrend on the 4H timeframe, but testing the lower range of the trend. Closing price below 4H-P-L would mean a high probablity movement back to the range bottom of 58.4K. I have included a trade idea based on the current market situation, but this is a high risk trade since BTCUSD is still in the consolidation range of higher...

marketgang

Currently in a range, brakeout either way is going to see the price go test a prior are of interest. Bias is towards bears.