ETH zoomed out

Main target: $600-650

https://www.tradingview.com/x/I1rokRHd/

BNB

https://www.tradingview.com/x/Ov5iybxy/

SPX futures (ES1)

Clear bearish retest, downtrend intact.

https://www.tradingview.com/x/qOEz6LQp/

BNB update

Support broken. First target is very likely now, but in my opinion it won't hold and we should see the second target ($40-45)

https://www.tradingview.com/x/s7HcvrJn/

CRO

As I've said on Twitter, it looks very bad. If it breaks the ATL, which is likely, we could see it dumping 70% or more. BTC pair looks ugly too.

https://www.tradingview.com/x/tsaKLj7X/

Happy New Year 2023!

TRX

No changes, still short.

https://www.tradingview.com/x/7ymvxNxG/

TRX update

Good reaction from resistance. Bearish flag broken.

https://www.tradingview.com/x/29ekGwBD/

SPX

https://www.tradingview.com/x/OFxmF9Mv/

BNB update. Still swing short. NFA.

https://www.tradingview.com/x/QgfAdpwu/

SOL

Back to $3

https://www.tradingview.com/x/XWK9i21j/

TRX/BTC

Supporting the idea of the swing short for TRX/USD

https://www.tradingview.com/x/cpCR6aoD/

MATIC

https://www.tradingview.com/x/o9FommMl/

ADA

https://www.tradingview.com/x/PBfQToaA/

TRX update

Still short on this one (along with BNB, AAVE and SOL). Current avg. entry 0.0605

Remember that my shorts positions are with very low leverage. They are positions based on a very high timeframe, with wide invalidations and wide targets.

Not financial advice.

HD chart: https://www.tradingview.com/x/urbF8dDl/

I see many people talking about altseason... Reality is that the big majority of altcoins are not making new local highs compared to BTC and they are at major resistance. This shows weakness. BTC pairs are in a very strong downtrend as well.

OTHERS chart (altcoins marketcap) is looking bearish as well, and the next support is way lower.

I remain short BNB, TRX, AAVE and SOL, and maybe I will add MATIC and FTM to the shorts bag. The shorts are 30% of my portfolio, the other 70% is USD.

HD chart for OTHERS: https://www.tradingview.com/x/IRfXeMUr/

BNB update

Adding more to my short position, which is the biggest one. Current avg. entry: $302


HD chart: https://www.tradingview.com/x/13Rj0NNg/

Fundamental reasons:

-Binance holds 70-80% of the BNB supply. If they have problems, which is likely they will (CFTC lawsuit was only the beginning), they will have to sell BNB. This is very similar to what happened with FTT.

-Price strongly manipulated. The strong bull run it had in early 2021 was mostly caused by BUSD twapping buys. Sam did exactly the same with FTT, but he did it publicly. CZ only did it publicly with the 1B BUSD fund. Now they can't mint any more new BUSD (NY regulator prohibited Paxos from minting more BUSD)

Technical reasons:

-Clear distribution above the dark zone (check chart). Whales are unloading (maybe Binance?). Confirmation with a clean break below this support, which has been testesd several times already.

-Corrective pattern formed from the 2022's low.

-Similitudes with the FTT chart. They are literally the same, but BNB has extended in time.

The distribution range is +2years long, so the expansion of the range could take it very very low.

Market update

Altcoins are breaking key supports and 0-B/0-X trendlines, or about to do it. Some others are already making new lows. This confirms that the move from December's low was corrective.

Expecting a strong sell-off soon, where altcoins could dump 60-80% and BTC to the main target of 12k.

Stay safe.

No updates = no changes

Bias remains bearish and I'm still out of the market (70% of my portfolio) and shorting some altcoins with very low leverage (30% of my portfolio), expecting new lows. The market is just waiting for the bigs news in order to move.

Alerts and orders are set. Everything is ready. Enjoying life in the meantime.

Good weekend to everyone!