BNB update
Bounced from the range low once again. It has a strong resistance level right above. Interaction with this level is going to be important for the short-term:
-A clean rejection from that level + break of the current mid tf bullish trend = good for bearish continuation. A clean close below $220 would be a good bearish confirmation.
-S/R flip of that level would be a short-term invalidation of the main bearish scenario for BNB and I would cut my short with profits to re-enter later, doesn't matter if higher or lower (avg. entry is still $301)
The entire range keeps looking as a massive distribution range of almost over 1000 days already, with lots of reasons to think that it will eventually break down.
Bounced from the range low once again. It has a strong resistance level right above. Interaction with this level is going to be important for the short-term:
-A clean rejection from that level + break of the current mid tf bullish trend = good for bearish continuation. A clean close below $220 would be a good bearish confirmation.
-S/R flip of that level would be a short-term invalidation of the main bearish scenario for BNB and I would cut my short with profits to re-enter later, doesn't matter if higher or lower (avg. entry is still $301)
The entire range keeps looking as a massive distribution range of almost over 1000 days already, with lots of reasons to think that it will eventually break down.
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Whether you like it or not, whether you want to look away or not, this is what has been happening all year. Not only with USDT, but also with BUSD, USDC, TUSD... These are just some examples (first image the last movement from 25k to 37k. Second image is the movement in June from 25k to 31k)
If you managed to get on the trend at a good time, congratulations. But you have to know that it's been mostly artificial and when it turns around, it's not going to be pretty.
Built on sand, unstable ground.
If you managed to get on the trend at a good time, congratulations. But you have to know that it's been mostly artificial and when it turns around, it's not going to be pretty.
Built on sand, unstable ground.
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BTC
Decreasing volume and high funding rates indicating potential distribution pattern.
First bearish confirmation below $34k
Decreasing volume and high funding rates indicating potential distribution pattern.
First bearish confirmation below $34k
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MATIC update
Still holding the short position from $0.91
Htf: same idea with same targets. I would TP in the first target most of the position, leaving some for the second target. Third target is just an idea for long-term buy.
Ltf: potential H&S. Waiting for confirmation.
Still holding the short position from $0.91
Htf: same idea with same targets. I would TP in the first target most of the position, leaving some for the second target. Third target is just an idea for long-term buy.
Ltf: potential H&S. Waiting for confirmation.
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CryptoCapo TG
BNB update Bounced from the range low once again. It has a strong resistance level right above. Interaction with this level is going to be important for the short-term: -A clean rejection from that level + break of the current mid tf bullish trend = good…
BNB update
Reaching the resistance mentioned in the previous update. Showing some rejection.
I wouldn't take the news as good news, like most people are doing. It means they have a criminal case against both Binance and CZ, which is not good for sure. Doing a bit of research you will understand the why. This just confirms it.
Reaching the resistance mentioned in the previous update. Showing some rejection.
I wouldn't take the news as good news, like most people are doing. It means they have a criminal case against both Binance and CZ, which is not good for sure. Doing a bit of research you will understand the why. This just confirms it.
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CryptoCapo TG
BNB update Reaching the resistance mentioned in the previous update. Showing some rejection. I wouldn't take the news as good news, like most people are doing. It means they have a criminal case against both Binance and CZ, which is not good for sure. Doing…
BNB
Nice rejection from the resistance zone. Bearish confirmation below $220.
Lots of reasons to think that the entire range is distribution and that it's going to break down eventually. With the liquidity gap created in 2021 by the same owners using BUSD, probably the same ones that have been distributing knowing what was coming, and now that the truth is finally coming out (more to come imo) it's even more likely that the main scenario plays out.
This has been my biggest short position during the entire year.
Nice rejection from the resistance zone. Bearish confirmation below $220.
Lots of reasons to think that the entire range is distribution and that it's going to break down eventually. With the liquidity gap created in 2021 by the same owners using BUSD, probably the same ones that have been distributing knowing what was coming, and now that the truth is finally coming out (more to come imo) it's even more likely that the main scenario plays out.
This has been my biggest short position during the entire year.
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CryptoCapo TG
BNB Nice rejection from the resistance zone. Bearish confirmation below $220. Lots of reasons to think that the entire range is distribution and that it's going to break down eventually. With the liquidity gap created in 2021 by the same owners using BUSD…
BNB/BTC
To add confluence to this scenario, the BNB/BTC chart also looks bearish.
First chart: posted 1 month ago after the support break.
Second chart: update, after retesting that level as resistance (hammer) and making a new low.
It should go much lower.
To add confluence to this scenario, the BNB/BTC chart also looks bearish.
First chart: posted 1 month ago after the support break.
Second chart: update, after retesting that level as resistance (hammer) and making a new low.
It should go much lower.
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CryptoCapo TG
BTC
BTC
Current situation:
Deviation above the previous highs. Most people expecting $40k+. It would be perfect if that level gets front run.
The level of greed, arrogance and cockiness is reaching extreme levels. It reminds me of when price was at $45k-48k back in March-April 2022. I was calling for $21k-23k back then and the hate level was very similar in percentage. But there's a big difference now; price is much lower and fundings are much higher (reaching ATH levels)
The market will tell if the bear market rally / manipulation thesis was right or not. In my opinion it's very clear, and if that's the case... it could be fully retraced within a few days/weeks. That's why I prefer to be stay out of the market still.
The $30k-31k level should show some support since it was the main level for a long time and there will be a "S/R flip narrative". Probably a short-term bounce from there if reached. Actually, if it breaks below $35k, it would confirm all the bearish divergences and they are strong enough to take the price below $30k eventually. Below there, the only support would be $25k but it has been tested several times and with that trend break it shouldn't hold. That would take us to the main target of $12k.
Not opening any new positions yet until more confirmations are given.
Current situation:
Deviation above the previous highs. Most people expecting $40k+. It would be perfect if that level gets front run.
The level of greed, arrogance and cockiness is reaching extreme levels. It reminds me of when price was at $45k-48k back in March-April 2022. I was calling for $21k-23k back then and the hate level was very similar in percentage. But there's a big difference now; price is much lower and fundings are much higher (reaching ATH levels)
The market will tell if the bear market rally / manipulation thesis was right or not. In my opinion it's very clear, and if that's the case... it could be fully retraced within a few days/weeks. That's why I prefer to be stay out of the market still.
The $30k-31k level should show some support since it was the main level for a long time and there will be a "S/R flip narrative". Probably a short-term bounce from there if reached. Actually, if it breaks below $35k, it would confirm all the bearish divergences and they are strong enough to take the price below $30k eventually. Below there, the only support would be $25k but it has been tested several times and with that trend break it shouldn't hold. That would take us to the main target of $12k.
Not opening any new positions yet until more confirmations are given.
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