FTT (FTX.com) exchange coin shows signs for a potential weekly kind of breakout. MACD histogram and the Oscillator look good for it.
It sits under the resistance with -0,0004 % funding rates right now. I monitor the funding rates on it for quite awhile and say that the rapid gains are clearly a soft low volume short squeeze till now.
I'm not long but I have a FTT spot bag myself, which in DCA'd in for awhile.
Long:
- Aggressive support play: Go in long on the next smaller timeframe pullback.
- "By the rules" breakout play: Go long on this potential breakout on the retest of it .
Short:
- Pessimist resistance play: Become the resistance; add shorts and hopefully don't get squeezed urself.
- Defensive short: Wait for a rejection at the resistance price levels
3D (Three Days) Snapshot
Daily Snapshot
4h Snapshot
It sits under the resistance with -0,0004 % funding rates right now. I monitor the funding rates on it for quite awhile and say that the rapid gains are clearly a soft low volume short squeeze till now.
I'm not long but I have a FTT spot bag myself, which in DCA'd in for awhile.
Long:
- Aggressive support play: Go in long on the next smaller timeframe pullback.
- "By the rules" breakout play: Go long on this potential breakout on the retest of it .
Short:
- Pessimist resistance play: Become the resistance; add shorts and hopefully don't get squeezed urself.
- Defensive short: Wait for a rejection at the resistance price levels
3D (Three Days) Snapshot
Daily Snapshot
4h Snapshot
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time for a 15m breakout retestملاحظة
welp, retest failed big timeملاحظة
12h - Looks like the Short plays were the correct plays. However a possible break above the trendline is still possible within days/weeks even in the overall market downtrend. Keep it on the watchlist.ملاحظة
Okay what can we learn from this idea?- Good old 'Trend is your Friend'. Trade with the higher timeframe trend, not against it.
- There are many different possible plays on the same setup
- The 4h snapshot shows a bearish divergence at the top of a downward channel and the daily shows a bullish overextension in an overall downtrend. Means a rejection had a higher probability. The 15m retest snapshot kind of confirmed it because the MACD signaled a shift in momentum while the Oscillators pointed down.
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A good example of: The market, after all, is still a place of bottomless horror. It is by no means a place of childlike simplicity where everything could be settled by a simple then-and-there decision.ملاحظة
Two and a half weeks later the same setup but this time with extra fundamental news: During the Super Bowl (some murica sport event) FTX is giving away the time their ad runs in bitcoin.I don't like the url name but whatever: ftx.us/dontmissout
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For the records of the indicator valuesملاحظة
Update on weekly for the records
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.