prefabsprout

prefabsprout Updated 

This is a classic bullish Megaphone pattern on APT. Kinda feels like buying the top but all of the hallmarks are there, most notably the 5 waves, bullish entry, rising volume. I'm placing low margin longs and hoping to see a breakout to the upside when BTC breaks out of a bullish descending wedge pattern it is in on the 4h chart. I'm still overall bearish on...

prefabsprout Updated 

I like the look of this chart. Could retest that Down channel, but looking to 3x this long. What are your thoughts on APE>?

prefabsprout Updated 

So much on this chart says dump time. Very similar weekly candle pattern a couple months ago resulted in a dump week. Closing below resistance yet again. Declining volume. RSI is declining. Help me see the pump guys, just not seeing it. Support levels are way way lower.

prefabsprout

LINK appears to be forming a bearish Head and Shoulders on the 4h chart. However it as support right now and provided we don't have a larger correction in the next few days a scalp trade is in play for it to go up to form the second shoulder first. So long and then short.

prefabsprout

we keep trying to break up out of this downward channel with APE on the hourly chart. the RSI is definitely cooperating with a bullish outlook. is there any reaoson not to long a break up and out of the channel?

prefabsprout

Everyone and their mother seems to think breakout is coming very soon to 100k and the moon. I think there is a strong case for a major dump to 40k or so and then we can soar up above this usually very bullish pattern. 42k is where this last pump began so a major pull back can signify a complete correction and fulfill the pattern's objective. In order for this to...

prefabsprout

This is a pattern that has a higher expectation of breaking up. But if it does not that's just terrible for the bulls short term. Which way will it break? Are bulls exhausted or do they have one more push to finally please all the hodlers?

prefabsprout Updated 

this is nice evidence in favor of a dump incoming. they always manipulate it to stop out any high leveraged shorts before a major dip. kicking myself for not having powder left in the gun to short the resistance. still in a short i entered around 65.8. go bears!

prefabsprout Updated 

UNI was having an exuberant day in the sun until BTC shat the bed. This BTC dump is the continuation of a wider market adjustment. We are headed down. I love taking advantage of an alt that was higher priced than it should've been when the crash started. Shorting 3x.

prefabsprout

I am in a short on FTM because of the breakdown of a rising wedge pattern on the 4h chart. How long can it go? Will depend on how far BTC and ETH can dump the rest of this week.

prefabsprout Updated 

This is a pretty straight forward short. This bullish exuberance on the part of BTC and crypto is totally in conflict with what the charts have been telling us the past few days. This looks by all means to be a bull trap/stop hunt before the real journey down. The weekly on BTC is the key to understanding why we are headed down from here. I will close my short...

prefabsprout

We broke out but seemed to have stalled and broken down out of the bullish channel. 63.5 range was the target but it is looking unlikely BTC can even make it there atp. That said, I don't really think this is tradeable either direction. We will just wait and see what develops on the chart.

prefabsprout Updated 

When we dump out of this shortly which I assume we will, you can say bye bye to FTM and all your bullish plans. Short now while you can. Really crushing on my AAVE short rn I might add. Thanks for watching!

prefabsprout

We could see the bulls push as high as 69k if we can break up out of this up channel here on the 4h. Friday/Saturday has tended to be exuberantly bullish historically so the timing is right. Again I am not mid or long terms bullish, but I am in a 5x long rn In BTC and APT.

prefabsprout Updated 

We have a classic Descending Wedge on Declining Volume indicating BTC will have little pump coming on the 4h time frame. I'm going to enter a low margin long here for a scalp. I'm also looking at a classic Bullish Megaphone on APT which has already made big strides up, but if this plays out it can really head up for the short term scalp idea. Did really well...

prefabsprout Updated 

Everyone is high on hopium about AAVE rn, but the 4h chart has a signal that the end of this bull run may come soon. Ascending Broadening Wedge pattern is a bearish pattern so I am looking to establish and add to my short position up to around 180. This matches my sentiment that this current flurry of bullish spending is a bull trap, and I base that primarily...

prefabsprout

On the 4h timeframe we see a classic Rising Wedge with Decreasing Volume. This usually ends up with a break to the downside. I will be looking for short entries on ETH.

prefabsprout Updated 

Resistance was broken before but then ETHUSD dropped back into the bearish trend channel. So even a break up here will not mean the downward trend is finished. I will be curious to see if ETH can break up away from this channel on the daily or if it will continue it's downward slide.