BTC/USD - It's not exactly a good idea to buy.Good week, everybody.
I have an idea to do a GEP on Tuesday.
Given that at the end of next week the May biannual futures ends and the last 3-5 knocks have passed with a clear dominance of large capital sales = you can expect some surprise in the last week of the month 📉.
Monday America is closed for MEMORY DAY. Most futures will be traded until 12.00 am in America.
The movement up to 9300 that has been watched, is very much under the lure of the masses into the long and good shorts by the big bidder.
Be careful.
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Before to trade my ideas make your own analysis.
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BTCUSDSHORTS
BTC/USD - Halving has passed, and nothing has changed.Yesterday the GEP was shut down by 4%, while the part of the GEP was not closed.
+ divergence
8900 key level on the CME Exchange
The level was built on the lower boundary of GEP.
It should be hit by a squeeze and a further breakdown.
Entry by pending order:
It is possible to drop unnecessary passengers from the pool by a collapse, to raise the commission for the extraction, to raise the price for profit.
Perhaps locally the market tends to trade the zone 8000-7900$.
I'm expecting upward movement today.
Yesterday's removal of the stop loss, I think it'll be enough to go up.
Halving's gone, and nothing's changed in the market. As expected.
The thoughts above are described.
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Before to trade my ideas make your own analysis.
Write your comments and questions.
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Bubbles: Comparing BTC to Gold, Again. Introduction
BTCUSD is being tracked on the BLX chart as it has the longest history and likewise Gold is on the Futures ticker likewise for the history and both are on the weekly time frame. Due to the speed of crypto the cart covers less time overall. The main chart is BLX and the chart below is gold centered on 2008 to 2016.
Key Concepts
Fundamental charting over all other indicators
Support and resistance flipping (either trendlines or horizontal levels)
After you have your chart patterns, look at volume for confirmation on all patterns.
After Volume, any other indicator you like.
Narrative
I have learned a lot since I have been trading and charting over the last 3 years to cobble together a system that makes me money consistently and one that I can manage emotionally. And because we live in an age of bubbles I have persevered over bubble charts I have looked to make money off of the popping. I still get out too early on the uptrend, which is fine so long as I don't go short too soon.
The charts should have a remarkable similarity. The main difference is we could add some trendlines to the down leg of Gold after the hammer and show how it channeled down and wedged and recovered, but that distracts a bit from the big picture.
The big picture
twice on each chart the grey filled ovals show where the price action establish and confirmed a long term black trend line.
The black outline oval shows where the black trendline is confirmed as resistance
The blue descending triangle shows price action is setting a lower high.
The Fib extension shows just how low the price action can go based on Gold. it does not mean 100% that we will almost touch the 2.414 fib extension and the high wick off to the left on Bitcoin suggest we will not go that low, so we will be just about to touch the 2.0 fib extension on bitcoin.
Finally we have the OBV EMA situation (shown below). The purple arrows show hidden bearish divergence (lower high on price, higher high on the indicator). So we are at resistance at both the triangle and this rising trendline and the volume is divergent. We might be trading at this resistance for a couple of weeks before the downtrend resumes. It is going to take a while for the optimism to fade.
Closing thoughts
The markets are all interconnected through traders and investors. And when they need liquidity they are going to take it from where ever they can. The incoming Second Great Depression is going to lead to selling off whatever assets people can in order to pay their bills and support their families, and save their businesses. This means selling of things that you may think are immune. I still imagine the locust swarm leading to food shortages around the world and people dumping silver and gold for grain.
In the background of all of this is Elliot wave theory, meaning that the uptrend on bitcoin when this is over will be mind boggling. It is also why I think we will stay above 2.0 fib extension on the downtrend. I expect we will see some type of wedge formation and BARR bottom developing over the next couple of years so the price action is currently creating the lead in trend line.
I am just a few years away from never having to work again, God willing. Please see the linked post for some of my most accurate calls, some more recent than others.
The silence of the shorts BTCUSDOne can visualize the pain and carnage of the traders that were short Bitcoin going into this move. While neither the amount of short interest nor the percentages long/short were at record levels they were definitely high and had been increasing steadily since the dump in March. If anything it was a great reason to be contrarian as the shorts steadily increased over the last month.
Even though I would normally like to take a short off a 50% price retracement my rules and conditions were not met for a trade. Nor were they met for a margin long. I must be content with the 1x move.
I also took the time this morning to check the arbitrage between the spot BTCUSD and futures markets. The highest futures premium for the September 2020 futures was only 0.4%. That tells me that there is not a tremendous amount of bullish optimism within this move. When we were at this same price level in mid January the upside premium was over 4%.
The futures premium being low and the apparent liquidation of short interest tells me that this move was more of a 'short squeeze' of traders trying to play that 50% retracement as a resistance closing or being force closed (most likely) their positions.
BITCOIN / U.S. DOLLAR (BTCUSD) DailyDates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates.
One way the Djinn Indicator is used to enter and exit trades:
For best results trade in the direction of the trend.
The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30.
When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered.
When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered.
This trading strategy works on daily, weekly and Monthly Djinn Predictive charts.
This is not trading advice. Trade at your own risk.
HS's BTC DAILY, SHORTDear Gamblers,
Finally seems that BTC will likely move downwards. Forming an HS's in the daily timeframe.
I'm not usually trading this short timeframes as they give conflict signals, but this time, with all the recession, qe, unemployement, Covid19 etc. I find it a good opportunity to do it + weak volume.
Strategy:
Open short
Stop loss @ 6800 USD
1st Target @ 5000 USD
2nd Target @ 3700 USD
Positioning 5%
Have fun gambling, if things get worse in US, i expect 2nd target could be met, but personally i would focus on 1st Target as price afterwards could bounce back.
Good luck,
Kind regards,
BeniGo.
***I am not your financial advisor neither I intend to be, do your own research before risking your money***
BTCUSDT - for everyone who no longer believes in cryptocurrency!Good day to all crypto fans! Cryptocurrency scam?
First, let's do a SWOT analysis of the entire cryptocurrency market:
Strengths - S:
The fiat system is out of date. Economic development without systematic crises in the current environment is impossible.
The outdated banking system in the world requiring change.
The transition from an industrial economy to a postindustrial one requires more developed and instantaneous types of payments.
New instant settlement systems in which the human resource is minimally involved.
Great opportunities in arranging a person’s comfortable life.
An increase in the amount of benefits for people.
Passing the stage of initial implementation in the life of people with full initial denial and rejection, as something new.
Weaknesses - W
Market manipulation.
Lack of financial regulation.
The issue of cryptocurrency status has not been legally resolved worldwide.
Opportunities - O
Finding at the beginning of a new era and a radically new financial world order.
There is a high probability of the start of mass production of each of the countries of its own cryptocurrency on the platforms of existing cryptocurrencies. What will entail a rise in prices.
The gradual introduction and application in life of new cryptocurrency technologies.
Threats - T
High risk for traders and investors the loss of their funds due to the high volatility in the market.
A large number of scam projects (tokens).
I assumed that the market would become difficult and little predictable! I will attach a review on this topic below. 👇But these movements exceeded all my expectations. Should I forget about cryptocurrency as a scam or not? I think it’s not worth it — I conducted an analysis with justification above. We are at the beginning of a new path and cryptocurrency from our lives will not go anywhere. And in what form they will exist, time will tell. And do not forget that the shares of many of the largest companies in the world fell even more in this fall.
In the near future I expect the formation of a new bottom. Levels are shown on the chart.
Locally, the price moves in the channel and is near the upper border. It would be very nice to reduce volatility to a minimum, which will cause complete apathy for traders, and then make a strong shot up. Do not forget that at the top there are not closed gaps. And there the price will come necessarily, as well as it came to the lower ones.
Thanks to all my subscribers and readers for your attention! 🙏
Success and profit! 🤑
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Disclaimer!
I do not give entry and exit points.
I share with you my opinion and ideas, which may differ from yours.
For all legal issues related to your investment portfolio: manipulations on the exchange, which led to a loss of funds, a delay in depositing or withdrawing funds from the exchange, the theft of your funds from your wallet or from the exchange, signing of an agreement with a trader, etc. write in PM. Protect yourself and your investment portfolio.
BTCUSDT - do not give in to emotions! 🙏Good afternoon, colleagues! What to expect now?
The main thing is not to succumb to emotions! The graph clearly shows the beginning of a new five-wave in the third wave. I think many see it. But above the price, 9750 bitcoins are not expected. Therefore, it is unlikely that the price will go higher.
Most likely in the near future we will see the correction headlight ABCDE. It is indicated on the chart. And after that it will be possible to say exactly where the price will go.
Thanks to all my subscribers and readers for your attention! 🙏
Success and profit!
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Are we going to see another Bitcoin Pump up?ANALYSIS ON BTCUSD
Welcome to my analysis
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4HR CHart
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Interesting Point of interest In the BTC/USD pair.
- Price above 200 day EMA.
- look for buy signals to top.
- Watch top for sell.
- Watch line for break out to the downside.
- STOCH RSI showing hidden bullish divergence on other time frames
Long term i am expecting move to the upside. Will update soon
Stay Tuned