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BTC The best things come to those who waitWith everyone screaming long, 16k, ATH, Bull Run, Parabolic... Pour yourself a glass of your favourite smooth bourbon on the rocks. Sit back, zoom out and slowly take a sip. There's no rush. Just look at the volume profile. Place your long orders below 5k. The price should go a little lower than that for the entry of champions. Check back next week. Go enjoy your weekend. If you don't subscribe to CryptoRhythms indicators, check them out. On this chart is Dynamic RSI zones Telegram: t.me or check out the TradingView page for a whole suite of free or professional indicators www.tradingview.com
BNC:BLX
by paulflint
Shakeout/spring vs Drop after distribution On the left we have the coinbase 4hr chart from October. You can see the shakeout drop from 7990 to 7300 There is a spike in volume which acts as a spring to pump price to 10540 On the right we have the coinbase 4hr chart from November. Don't be fooled in to thinking this is the same price action. After distribution finished, the price dropped. Slowed by the moving average, walls on exchanges to encourage people to long. Compare the volume profile. So far there is no volume here and once enough leveraged longs are in, I expect the drop to continue. There could be a small rise to liquidate bottom shorters, in which case I would be looking at 9030-9070.
COINBASE:BTCUSDShort
by paulflint
BTC Wyckoff AccumulationPS - Preliminary Support (buys provide a bounce to slow move down) SC - Selling Climax (Buys absorb remaining sells , end of panic sell off) AR - Automatic Rally (Price rise caused by volume buys and lack of sells on the orderbook) ST - Secondary Test (retest of support, may occur multiple times) Shake Out - Volume sell to drop price encouraging inexperienced traders to close their longs opened at ST and possibly cause additional panic sells Spring - Buy orders filled from Shake Out and price rises sharply and orders clear remaining sell orders Test - Test of available supply. Low supply results in price mark up breaking previous resistance levels SOS - SIgn of Strength (Often a result of high volume buying or fomo after a spring) LPS - Last Point of Support (Test for Resistance / Support flip, Puillback) BU - Back-up - After a jump across the creek move, the price often experiences retest of support and will pull back close to the low after the SOS TR - Trading Range (Caused by profit taking at the end of the SOS and re-accumulation at the new price range) Length / duration can vary. Set range high as next high after SOS Set range low as LPS after SOS
COINBASE:BTCUSDEducation
by paulflint
1
BTC at channel bottomSo price finally broke both Symmetrical triangle and Descending triangle on the Daily chart. Price is currently at the bottom of the upward channel on the Monthly and the Downward channel on Weekly / Dailly. If you are following the 16k possibility called for October, that would put the price at the top of the upward channel for the end of October. I have marked the futures expiry dates on the Daily with vertical dashed lines. I have also marked the quarter ends on the monthly with the same lines. I closed all longs when price broke the bottom of the box where another bounce from the descending triangle back into the symmetrical triangle was expected and opened shorts. I have longs around 5900 marked with a horizontal line '3 MONTH waiting for retest'. Will keep an eye on funding as even with the pumps I have been taking advantage of longs pay shorts on funding. I may open long around 7300-7500, 6900 6400 depending on price action but in no rush at the moment
COINBASE:BTCUSDShort
by paulflint
BTC retrace or dump continuationHere is a quick analysis of BTCUSD, 15 minute interval on the Bitstamp chart The green line shows the support level. The red line is the resistance. I will be looking for action similar to the magenta lines. I want to see the price break the resistance then that resistance become support a pump back to 8k I have included various indicators on the chart so you can compare them to the price action At this moment the volume profile on the right looks sell heavy to me Because of this, it would be wiser to long 7800 on testing support after breaking through resistance to avoid longing a dump
BITSTAMP:BTCUSDLong
by paulflint
1
Diamond bottomI don't think this pattern will achieve a full retrace to 3980-4000 I would like to see next move push up to 3820 Currently watching wall on Coinbase and Binance around 37-3720 So these orders are either going to be removed and we will bounce up the next leg or we retest support 3680 which can be seen on the heatmap using TensorCharts If we see 3680 I will be looking to 3640-3620 and watching support as if there is none I think we will drop below moving averages and under the 0 fib around 3480 Check out some crypto merchandise here: www.redbubble.com
BITMEX:BTCUSD.P
by paulflint
BTC bullflag 1h analysis1hr analysis Try to blank out what doesn't look relevant as I can't be arsed hiding lines etc to make it simpler and cleaner (this is why a layers/groups option on drawings would be ideal, remove drawing objects related to an idea eg all trend lines or later for diamond bottom at the click of a button) anyway I digress Looks to be painting a flag (blue line through candles as they break out of diamond) flag pole length would bring it in line to reject after touching 200sma (white) and it also lines up with a gap in the volume profile 3698 3704 3726 are numbers I am watching for candle tops / wicks REMEMBER - I know we all know this but it is easy to forget. All ideas are second guessing using indicators and other factors to guide us. Everything can change on a candle.
BITMEX:BTCUSD.PLong
by paulflint
BTC potential targets aboveI am currently looking for indication the next move will take us to the 61.8, possibly 78.6 fib The 61.8 fib lines up with current level and size of earlier candle 3240 - 3470 Looking at volume profile I have orders to add long if we retouch the 3240 support or wick to 0 fib at 3200 I already have a short open from 36 so will keep a close stop on long, 3160-3180 but will be monitoring the price if it drops to that level Magenta dashed lines are just rough support / resistance lines Grey boxes are order blocks from last year Purple and Blue vertical lines are just guides for candle height
BITMEX:BTCUSD.PLong
by paulflint