Time for a quick thread.
I really hope everyone is doing fine. After days like yesterday you really get an opportunity to cleanse your feed and realize which persons are traders and which ones are influencers.
Here is a quick top-down analysis after last night’s carnage.
I really hope everyone is doing fine. After days like yesterday you really get an opportunity to cleanse your feed and realize which persons are traders and which ones are influencers.
Here is a quick top-down analysis after last night’s carnage.
Let’s start off the monthly chart.
Simple analysis, December needs to hold above the range EQ if it wants to revisit liquidity at range highs. Monthly close below it and we’ll go for a sweep of the equal lows at 29.7k.
Simple analysis, December needs to hold above the range EQ if it wants to revisit liquidity at range highs. Monthly close below it and we’ll go for a sweep of the equal lows at 29.7k.
I’m personally leaning towards a last range high deviation (would also be a three-tap) before going lower. Also, 20k is to be tagged somewhere in the future, so please save some money for it.
My target for this cycle top sits at 87k
My target for this cycle top sits at 87k
Now the weekly chart.
I think price is setting up for the grand finale of this bull run in the fashion of a Three-drive pattern. Here is what I see:
-Bullish structure
-Price still above the 30 and 50 EMA
-Price holding above 40k (key support/resistance)
I think price is setting up for the grand finale of this bull run in the fashion of a Three-drive pattern. Here is what I see:
-Bullish structure
-Price still above the 30 and 50 EMA
-Price holding above 40k (key support/resistance)
Daily chart. Beautiful PA within the monthly chart (1st Photo)
Price was showing lots of similarities with the April-May rally, same thing now that it dumped. Im expecting this initial low to get raided later in the future. Most likely we’ll tag 51.3k before the next leg down.
Price was showing lots of similarities with the April-May rally, same thing now that it dumped. Im expecting this initial low to get raided later in the future. Most likely we’ll tag 51.3k before the next leg down.
I would only open positional longs if price reclaims 60k, anything below is to be shorted.
Lastly, the 4-hour chart.
Absolutely bearish structure.
There isn’t much to execute around these levels, we left a CME gap at 53k so it would make sense to fill it early in the week. However, shorts are favored as long as price is kept under 57.6k
Patience.
Absolutely bearish structure.
There isn’t much to execute around these levels, we left a CME gap at 53k so it would make sense to fill it early in the week. However, shorts are favored as long as price is kept under 57.6k
Patience.
Dont fomo into red candles nor 20% rallies coming off the lows. Market structure remains bearish in most assets.
Knife-catching is a nice way to collect profits but is not for everyone. As a trader your main goal should be capital preservation, not being a hero.
Again, patience
Knife-catching is a nice way to collect profits but is not for everyone. As a trader your main goal should be capital preservation, not being a hero.
Again, patience
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