Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: P < S MA trying to cross M MA < L MA
Patterns: Phase 7 hyperwave | Bear Channel | Symm triangle
Horizontals: S: $3,396 R: $3,423
Trendline: Symm triangle
Parabolic SAR: $3,323
Futures Curve: Backwardation with 1.93% spread
BTCUSDSHORTS: 12h h&s
Funding Rates: Shorts pay longs 0.0123%
TD’ Sequential: R3 = R2
Ichimoku Cloud: Tenkan-Sen continues to act as beautiful resistance
Relative Strength Index: Formed another lower high at trend resistance
Average Directional Index: Finding resistance at 25
Price Action: 24h: +0.1% | 2w: -1.9% | 1m: -8.5%
Bollinger Bands: Squeezing with price below MA
Stochastic Oscillator: Bearish re cross on the daily
Summary: Outside of the short MA trying the cross the long MA on Consensio things are starting to look considerably less bullish than the last few days. The spread is the backwardation is back under 2%, the TD Sequential is on a red 3. The Tenkan-Sen continues to act as clean resistance and the Stochastic made a bearish recross.
The main reason that I remain bullish is because of Litecoin, which tends to be a market leader. It is currently testing critical resistance (0.01) and the LTCBTCSHORTS are severely overleveraged.
I think the most likely outcome over the next 24 - 48 hours is a massive LTC short squeeze which leads to the larger cap coins following the leader. The longer resistance continues to hold and the spread in the backwardation continues to decrease the less confident I will feel about that.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
Consensio: P < S MA trying to cross M MA < L MA
Patterns: Phase 7 hyperwave | Bear Channel | Symm triangle
Horizontals: S: $3,396 R: $3,423
Trendline: Symm triangle
Parabolic SAR: $3,323
Futures Curve: Backwardation with 1.93% spread
BTCUSDSHORTS: 12h h&s
Funding Rates: Shorts pay longs 0.0123%
TD’ Sequential: R3 = R2
Ichimoku Cloud: Tenkan-Sen continues to act as beautiful resistance
Relative Strength Index: Formed another lower high at trend resistance
Average Directional Index: Finding resistance at 25
Price Action: 24h: +0.1% | 2w: -1.9% | 1m: -8.5%
Bollinger Bands: Squeezing with price below MA
Stochastic Oscillator: Bearish re cross on the daily
Summary: Outside of the short MA trying the cross the long MA on Consensio things are starting to look considerably less bullish than the last few days. The spread is the backwardation is back under 2%, the TD Sequential is on a red 3. The Tenkan-Sen continues to act as clean resistance and the Stochastic made a bearish recross.
The main reason that I remain bullish is because of Litecoin, which tends to be a market leader. It is currently testing critical resistance (0.01) and the LTCBTCSHORTS are severely overleveraged.
I think the most likely outcome over the next 24 - 48 hours is a massive LTC short squeeze which leads to the larger cap coins following the leader. The longer resistance continues to hold and the spread in the backwardation continues to decrease the less confident I will feel about that.
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