Yesterday’s analysis/position: Added to my short. Longs wicks on top of the last three candles have me feeling very confident about my position. Also selling spot this morning and afternoon.
Patterns: Retesting bottom of triangle
Horizontal support and resistance: weak R: $7,340 strong R: $7,500 weak S: $7,300 (do not expect it to hold for much longer). Strong S: $6,800 and $6,200
BTCUSDSHORTS: At an area of support. 1st green candle in 3 days.
Funding Rates: longs pay 0.01% to shorts
12 & 26 EMA’s (calculate % difference): 12: +12.43% 26: +9.02% Just made bearish cross on 1h
MA crossovers (50 & 128): 50: +9.17% 128: -3.93% 128 serving as resistance like we expected
FIB’s: 0.382 = $8,476 0.236 = $5,817
Candlestick analysis: shooting star and spinning top at resistance on daily. Currently forming another shooting star. Multiple reversal dojis on 12h.
Ichimoku Cloud: Daily cloud served as resistance. Posturing for bullish TK cross. Do not believe it will amount to anything. C clamp on 3d is almost fully resolved. Bearish kumo twist on weekly.
TD Sequential: Green 1 following red 9 on weekly. Green 2 above a green 1 on the 3d. Green 5 on daily. Red 1 on 12h.
Visible Range: Volume at $7,300 and nothing more until $6,800. Resistance stacked from here to $8,700.
BTC Price Spreadsheet: 12h: -1.61% 1D: -1.34% 1W: +18.09% 2w: +9.10% 1m: +10.82%
Bollinger Bands: Last two candles closed outside of top band. First time this has happened since 9/1/17 when the price proceeded to correct -38.46% in 13 days (and that was in a bull market). MA on weekly is acting as resistance
Trendline: Coming from triangle. Next hyperwave will be at ~$5,000
Daily Trend: bearish
Fractals: 4 UP fractals broken on this recent move. Next one is at $7,800
On Balance Volume: following price
Buy/Sell Sentiment on Trading View: RSI: 64.3 Stoch: 85.9 Oscillators = sell MA’s = BUY
Conclusion: I have been selling spot all morning/afternoon and still have 25% leftover. I will be selling that the moment that we breakdown $7,275 support. From there a quick drop back to $6,800 is strongly expected. There will be a bounce from $6,800. That level served as strong resistance and will now attempt to turn into support. I do not expect it to hold for more than a day or two before we go for a retest of $6,200. My target for the bottom of this bear market is $4,250 on or around 8/30. If you are short and or selling spot then any of those three areas could be your profit target. Stop loss remains $7,826 and will be adjusted as soon as/if we break down $7,275 support.
Patterns: Retesting bottom of triangle
Horizontal support and resistance: weak R: $7,340 strong R: $7,500 weak S: $7,300 (do not expect it to hold for much longer). Strong S: $6,800 and $6,200
BTCUSDSHORTS: At an area of support. 1st green candle in 3 days.
Funding Rates: longs pay 0.01% to shorts
12 & 26 EMA’s (calculate % difference): 12: +12.43% 26: +9.02% Just made bearish cross on 1h
MA crossovers (50 & 128): 50: +9.17% 128: -3.93% 128 serving as resistance like we expected
FIB’s: 0.382 = $8,476 0.236 = $5,817
Candlestick analysis: shooting star and spinning top at resistance on daily. Currently forming another shooting star. Multiple reversal dojis on 12h.
Ichimoku Cloud: Daily cloud served as resistance. Posturing for bullish TK cross. Do not believe it will amount to anything. C clamp on 3d is almost fully resolved. Bearish kumo twist on weekly.
TD Sequential: Green 1 following red 9 on weekly. Green 2 above a green 1 on the 3d. Green 5 on daily. Red 1 on 12h.
Visible Range: Volume at $7,300 and nothing more until $6,800. Resistance stacked from here to $8,700.
BTC Price Spreadsheet: 12h: -1.61% 1D: -1.34% 1W: +18.09% 2w: +9.10% 1m: +10.82%
Bollinger Bands: Last two candles closed outside of top band. First time this has happened since 9/1/17 when the price proceeded to correct -38.46% in 13 days (and that was in a bull market). MA on weekly is acting as resistance
Trendline: Coming from triangle. Next hyperwave will be at ~$5,000
Daily Trend: bearish
Fractals: 4 UP fractals broken on this recent move. Next one is at $7,800
On Balance Volume: following price
Buy/Sell Sentiment on Trading View: RSI: 64.3 Stoch: 85.9 Oscillators = sell MA’s = BUY
Conclusion: I have been selling spot all morning/afternoon and still have 25% leftover. I will be selling that the moment that we breakdown $7,275 support. From there a quick drop back to $6,800 is strongly expected. There will be a bounce from $6,800. That level served as strong resistance and will now attempt to turn into support. I do not expect it to hold for more than a day or two before we go for a retest of $6,200. My target for the bottom of this bear market is $4,250 on or around 8/30. If you are short and or selling spot then any of those three areas could be your profit target. Stop loss remains $7,826 and will be adjusted as soon as/if we break down $7,275 support.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน