Greetings dear members, I hope you are doing amazing
This is daily update for March 11th, 2019
BTC dominance is up 0.1% and currently its value is 51.5%. The total market cap is down $1.8 billion and its current valuation is $132.7 billion. The market volume of the last 24h was $31.8 billion and made an increase of $1.3 billion.
Binance System Upgrade
https://support.binance.com/hc/en-us/articles/360024825992
Binance will perform a scheduled system upgrade starting at 2019/03/12 2:00 AM (UTC). The upgrade will take approximately 8 hours.
Looking back at the last 3 updates we saw dump in BTC price and overall market was following.
We firmly believe that last upside momentum in BTC was fuelled by upside movement on Binance alts, mainly by BNB that caused other walts to follow too.
While Binance is going to be down, we think big move could happen and we give more chance to the downside than the upside not because of past but because Binance was leading recent up moves.
Technical analysis
Bitcoin Daily Time Frame: https://www.tradingview.com/x/7ayEKElg
Bitcoin is still in the range. After closing on weekly resistance, we saw impact of that resistance represented
throughout the decline we saw today.
We expect to see Bitcoin going deeper down to at least EMA 50 one more time or even to touch the lower band of this range.
It is very interesting to see what will happen once Binance goes down. We would suggest you to be careful because this is fundamental that could cause random move so if you are in a trade, be sure that stop loss is not too far to avoid being filled even further from your entry.
This fundamental event may cause BTC to leave range and we can see increase in volatility that would bring swing opportunities to the table which is something we are looking for.
Best regards, CS Team
This is daily update for March 11th, 2019
BTC dominance is up 0.1% and currently its value is 51.5%. The total market cap is down $1.8 billion and its current valuation is $132.7 billion. The market volume of the last 24h was $31.8 billion and made an increase of $1.3 billion.
Binance System Upgrade
https://support.binance.com/hc/en-us/articles/360024825992
Binance will perform a scheduled system upgrade starting at 2019/03/12 2:00 AM (UTC). The upgrade will take approximately 8 hours.
Looking back at the last 3 updates we saw dump in BTC price and overall market was following.
We firmly believe that last upside momentum in BTC was fuelled by upside movement on Binance alts, mainly by BNB that caused other walts to follow too.
While Binance is going to be down, we think big move could happen and we give more chance to the downside than the upside not because of past but because Binance was leading recent up moves.
Technical analysis
Bitcoin Daily Time Frame: https://www.tradingview.com/x/7ayEKElg
Bitcoin is still in the range. After closing on weekly resistance, we saw impact of that resistance represented
throughout the decline we saw today.
We expect to see Bitcoin going deeper down to at least EMA 50 one more time or even to touch the lower band of this range.
It is very interesting to see what will happen once Binance goes down. We would suggest you to be careful because this is fundamental that could cause random move so if you are in a trade, be sure that stop loss is not too far to avoid being filled even further from your entry.
This fundamental event may cause BTC to leave range and we can see increase in volatility that would bring swing opportunities to the table which is something we are looking for.
Best regards, CS Team
Good morningn dear members, I hope you are doing great
This is daily update for March 12th, 2019
BTC dominance has same value it had yesterday in the time of our update of 51.5%. The total market cap is up $0.8 billion and its current valuation is $133.5 billion. The market volume of the last 24h was $31.9 billion, $0.1 bigger than a day ago.
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/tudFnjcz
These updates are becoming boring since Bitcoin is still in the range and any prediction would be more like a guessing.
Yeah, scalps could be played and we are playing them but more than that is too risky in this range.
So for Bitcoin we are still flat in general until it leave the range.
Looking at altcoins, Litecoin is the one that may give us swing opportunity. Looking at Ethereum, it is still flat and showing same price action as Bitcoin, there isn't big difference between these two.
On Litecoin, we are looking for one stop run on shorts and fake up move and once it happens and price shows that weakness, we will start shorting since we expect meltdown in price in upcoming days/weeks.
At the moment, Litecoin is the only that shows potential for swing setup. Once it develops we will let you know.
Best regards, CS Team!
This is daily update for March 12th, 2019
BTC dominance has same value it had yesterday in the time of our update of 51.5%. The total market cap is up $0.8 billion and its current valuation is $133.5 billion. The market volume of the last 24h was $31.9 billion, $0.1 bigger than a day ago.
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/tudFnjcz
These updates are becoming boring since Bitcoin is still in the range and any prediction would be more like a guessing.
Yeah, scalps could be played and we are playing them but more than that is too risky in this range.
So for Bitcoin we are still flat in general until it leave the range.
Looking at altcoins, Litecoin is the one that may give us swing opportunity. Looking at Ethereum, it is still flat and showing same price action as Bitcoin, there isn't big difference between these two.
On Litecoin, we are looking for one stop run on shorts and fake up move and once it happens and price shows that weakness, we will start shorting since we expect meltdown in price in upcoming days/weeks.
At the moment, Litecoin is the only that shows potential for swing setup. Once it develops we will let you know.
Best regards, CS Team!
Forwarded from Future Crypto Experts - Paid Channel
XLM/BTC : http://prntscr.com/mxhujj
I would like to be wrong but latest Coinbase listing looks very suspicious.
After XLM broke support violently it is getting spiked up to the major resistance with fundamentals. If price starts to going down, it would be the clearest sign of manipulation that is happening in crypto market.
Why is this suspcious?
It broke support and dropped without any retest showing clear weakness. It was the expected especially considering weakness in Ripple's price action and we all know that these two are going usually together.
If this is some Bitmex alt, it would be shorted heavily by technical traders because it shows clear example of broken structure and retest which is one of the favourite and most profitable setups. The fact that there are no short sellers is the only hope for this coin to survive and overcome this resistance.
Considering buy the rumour, sell the news, after this news release that spiked directly to main resistance, we would not suggest buying this coin.
Two areas to consider buying are all the way down at 1500 sats or if some miracle happens and we see breakout, then you can consider buying at the retest of current resistance.
Let's see what future brings but if this coin drops after this update, it will be the biggest proof of manipulation where whales took fundamentals as a tool to dump their bags.
Looking at this chart, it is clear that even if we see BTC testing 6k, it would be nothing but perfect short entry because it would be place where those who were buying 6k bottom will try to sell their bags and also short sellers (technical traders) will take piece of cake.
Bitcoin has to go to 8-9k to 'end' bear market and then buy on 6-7k support. Everything else is nothing but sideways market with bearish sentiment.
Best regards, CS Team
I would like to be wrong but latest Coinbase listing looks very suspicious.
After XLM broke support violently it is getting spiked up to the major resistance with fundamentals. If price starts to going down, it would be the clearest sign of manipulation that is happening in crypto market.
Why is this suspcious?
It broke support and dropped without any retest showing clear weakness. It was the expected especially considering weakness in Ripple's price action and we all know that these two are going usually together.
If this is some Bitmex alt, it would be shorted heavily by technical traders because it shows clear example of broken structure and retest which is one of the favourite and most profitable setups. The fact that there are no short sellers is the only hope for this coin to survive and overcome this resistance.
Considering buy the rumour, sell the news, after this news release that spiked directly to main resistance, we would not suggest buying this coin.
Two areas to consider buying are all the way down at 1500 sats or if some miracle happens and we see breakout, then you can consider buying at the retest of current resistance.
Let's see what future brings but if this coin drops after this update, it will be the biggest proof of manipulation where whales took fundamentals as a tool to dump their bags.
Looking at this chart, it is clear that even if we see BTC testing 6k, it would be nothing but perfect short entry because it would be place where those who were buying 6k bottom will try to sell their bags and also short sellers (technical traders) will take piece of cake.
Bitcoin has to go to 8-9k to 'end' bear market and then buy on 6-7k support. Everything else is nothing but sideways market with bearish sentiment.
Best regards, CS Team
Lightshot
Screenshot
Captured with Lightshot
When it is clear sideways market, the best option is to stay flat and wait.
Waiting is also trading.
https://www.tradingview.com/x/P05z2yoA
Both sides were shaen out, it is time to see what will happen next. The price action looks a little bit more bearish than bullish at the moment.
Waiting is also trading.
https://www.tradingview.com/x/P05z2yoA
Both sides were shaen out, it is time to see what will happen next. The price action looks a little bit more bearish than bullish at the moment.
Greetings all members, we hope you are doing great
Technical analysis
Bitcoin Daily time frame : https://www.tradingview.com/x/XFPfoZ4z
We got bullish confirmation and we do believe upside momentum is coming to fulfil monthly expectations and reach 4300-4700.
Yeah, we are still below 4000 but that's the only resistance that stop price to reach 4300-4700 (monthly resistance).
Move belove yesterday's liquidity low would invalidate this theory.
It was clearly bought up yesterday, shaking off a lot of spop loss orders which means that there is no liquidity pool below that would cause major spike to the downside.
Best regards, CS Team!
Technical analysis
Bitcoin Daily time frame : https://www.tradingview.com/x/XFPfoZ4z
We got bullish confirmation and we do believe upside momentum is coming to fulfil monthly expectations and reach 4300-4700.
Yeah, we are still below 4000 but that's the only resistance that stop price to reach 4300-4700 (monthly resistance).
Move belove yesterday's liquidity low would invalidate this theory.
It was clearly bought up yesterday, shaking off a lot of spop loss orders which means that there is no liquidity pool below that would cause major spike to the downside.
Best regards, CS Team!
Good evening dear members, we hope you are doing great
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/1XmwpGkk
Bitcoin on resistance. We keep our Ethereum long opened yesterday at 132.
This was move on Saturday and the fact that last couple of moves on Saturday was invalidated right next day, we would wait for weekly close for opening trade on BTC.
At the moment, we do not want to long BTC as long as it is below 4100 (weekly resistance).
We will keep our ETH long with stop loss above entry and look how price acts tomorrow.
Best regards, CS Team!
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/1XmwpGkk
Bitcoin on resistance. We keep our Ethereum long opened yesterday at 132.
This was move on Saturday and the fact that last couple of moves on Saturday was invalidated right next day, we would wait for weekly close for opening trade on BTC.
At the moment, we do not want to long BTC as long as it is below 4100 (weekly resistance).
We will keep our ETH long with stop loss above entry and look how price acts tomorrow.
Best regards, CS Team!
Good evening dear members, we hope you are doing amazing
Technical analysis
Bitcoin Daily Time Frame: https://www.tradingview.com/x/KclKpNgi
We are currently flat on BTC. It can either go to $3500 or up to $4400 and we think it will happen very fast, probably this week.
Chances are equal and we have reasons for both scenario.
Same thing on Ethereum. The coin we are interest in at the moment is Litecoin that looks weak. After it pulled market up, it shows signs of exhaustion and we do believe it will decline in value.
Since the Bitmex contract expires in 10 days, shorting there could be more like a scalp because you can't hold to major targets because contract will be closed soon.
If you bought Litecoin, this is the time to get off some of your coins and rebuy them lower. You will certainly get chance to rebuy at least at 0.013 BTC but we believe all the way don to 0.01-0.011 area will be some wicks.
TRX and XRP are losing their floor which gives us clear picture. Alts are losing steam and it usually means big move in Bitcoin price.
We will try to catch that move but at this moment, both sides are possible.
This was our market overview. We hope it helped you!
Best regards, CS Team
Technical analysis
Bitcoin Daily Time Frame: https://www.tradingview.com/x/KclKpNgi
We are currently flat on BTC. It can either go to $3500 or up to $4400 and we think it will happen very fast, probably this week.
Chances are equal and we have reasons for both scenario.
Same thing on Ethereum. The coin we are interest in at the moment is Litecoin that looks weak. After it pulled market up, it shows signs of exhaustion and we do believe it will decline in value.
Since the Bitmex contract expires in 10 days, shorting there could be more like a scalp because you can't hold to major targets because contract will be closed soon.
If you bought Litecoin, this is the time to get off some of your coins and rebuy them lower. You will certainly get chance to rebuy at least at 0.013 BTC but we believe all the way don to 0.01-0.011 area will be some wicks.
TRX and XRP are losing their floor which gives us clear picture. Alts are losing steam and it usually means big move in Bitcoin price.
We will try to catch that move but at this moment, both sides are possible.
This was our market overview. We hope it helped you!
Best regards, CS Team
Good morning dear members, we hope you are doing great
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/ZIAvjUT4
Too many time got rejected by resistance. Yesterday we had a breakout that was fully invalidated.
Looking at the long vs short ratio, we see 50/50 on Bitfinex and 60/40 on Bitmex. We all know that the majority is looking on Bitfinex for this ratio because it is not that easy to find the ratio for Bitmex.
The 50/50 ratio in Bitfinex makes the situation look uncertain but looking at Bitmex where 60% of longs are opened, we would doubt that it will go up. This is a big potential trap. All twitter is covered with $4400 target and it makes perfect sentiment for a big market trap.
Looking at Ethereum, we have a clear weakness. Looking at Litecoin too. So, whatever Bitcoin does, we expect a decline from these two in BTC value.
We are bearish on BTC and we think $3500-3600 area has higher chances to be reached than Twitter target $4400.
Best regards, CS Team
Technical analysis
Bitcoin Daily Time Frame : https://www.tradingview.com/x/ZIAvjUT4
Too many time got rejected by resistance. Yesterday we had a breakout that was fully invalidated.
Looking at the long vs short ratio, we see 50/50 on Bitfinex and 60/40 on Bitmex. We all know that the majority is looking on Bitfinex for this ratio because it is not that easy to find the ratio for Bitmex.
The 50/50 ratio in Bitfinex makes the situation look uncertain but looking at Bitmex where 60% of longs are opened, we would doubt that it will go up. This is a big potential trap. All twitter is covered with $4400 target and it makes perfect sentiment for a big market trap.
Looking at Ethereum, we have a clear weakness. Looking at Litecoin too. So, whatever Bitcoin does, we expect a decline from these two in BTC value.
We are bearish on BTC and we think $3500-3600 area has higher chances to be reached than Twitter target $4400.
Best regards, CS Team
Forwarded from Future Crypto Experts - Paid Channel
XRP/BTC: http://prntscr.com/n0vwoo
It is losing 8000 sats floor as expected.
3 potential support below:
1) 7000 sats - If price bounces off from this area and closes above 9000 sats, that would be pretty bullish scenario because in that case, we would have very visible H&S on higher time frames which could lead us to huge breakout. Something big has to happen for the price to bounces from this price level.
2) 6000 sats is the middle area between dream entry and 7000. It has influence in the past so we have to consider this as potential support.
Buying small portion there would be okay because at least short-term bounce off will occur but as it is still 30-40% higher from dream buy, going big there would be risky cause you may be stuck in Ripple for months until it moon.
3) 4500 sats is a dream buy. We do not have any idea what will bring the price to this area but if that happens, there is no doubt that it will be an amazing entry.
The only thing that can bring us to this area that gets on our mind is potential quite a time for ripple, without big updates which would cause decline step by step to 6000 sats and then liquidity spike to 4000-4500 area and instant buyback.
Ripple is one of the coins that have a huge community and a lot of people are big on Ripple. If Ripple underperforms the rest of the market which is likely to happen, selling pressure may rise which would bring the price to the area of dream buy.
Don't short it on Bitmex. It is used to random liquidity spikes to the upside and downside as well. So, you may be right that it will drop but because of these spikes, you will be out. You will be right and still lose money.
This is just to prepare you for a good buy entry. If Ripple surprises us and moon before touching one of these 3 areas, we would buy only if we see a strong close above 9000 sats. The buy would be on a non-leverage exchange, such as Binance.
It is losing 8000 sats floor as expected.
3 potential support below:
1) 7000 sats - If price bounces off from this area and closes above 9000 sats, that would be pretty bullish scenario because in that case, we would have very visible H&S on higher time frames which could lead us to huge breakout. Something big has to happen for the price to bounces from this price level.
2) 6000 sats is the middle area between dream entry and 7000. It has influence in the past so we have to consider this as potential support.
Buying small portion there would be okay because at least short-term bounce off will occur but as it is still 30-40% higher from dream buy, going big there would be risky cause you may be stuck in Ripple for months until it moon.
3) 4500 sats is a dream buy. We do not have any idea what will bring the price to this area but if that happens, there is no doubt that it will be an amazing entry.
The only thing that can bring us to this area that gets on our mind is potential quite a time for ripple, without big updates which would cause decline step by step to 6000 sats and then liquidity spike to 4000-4500 area and instant buyback.
Ripple is one of the coins that have a huge community and a lot of people are big on Ripple. If Ripple underperforms the rest of the market which is likely to happen, selling pressure may rise which would bring the price to the area of dream buy.
Don't short it on Bitmex. It is used to random liquidity spikes to the upside and downside as well. So, you may be right that it will drop but because of these spikes, you will be out. You will be right and still lose money.
This is just to prepare you for a good buy entry. If Ripple surprises us and moon before touching one of these 3 areas, we would buy only if we see a strong close above 9000 sats. The buy would be on a non-leverage exchange, such as Binance.
Lightshot
Screenshot
Captured with Lightshot
Forwarded from Future Crypto Experts - Paid Channel
LTC/BTC
4H : http://prntscr.com/n0wea2
3D: http://prntscr.com/n0wgp6
Looking at lower time frame (4H), yesterday's buyback was an obvious bullish sign but looking at where it happened in the overall trend, we will not buy that bullish sign.
If the sentiment is bullish, the buyback that happened yesterday would already take price 7-10% higher. In this situation, it hit 0.0150 and dropped to an initial price.
If this buyback didn't bring us new bullish move to 0.0160, I am curious what will. If the price won't go up, there is only one way where it can go 📉
We will not short it because on Bitmex it is too low volume for our investment account but if you have low account size, why not. We would even share. short signal but the fact that the contract expires in 8 days doesn't give us enough time for the main target to be reached.
This is the coin you want to have in next "altcoin season" but don't buy it now because it can easily test at least 0.0130 and remain extra bullish because that test on higher time frames would be very small decline which would give a very bullish sign of an overall market trend.
If we shared dream buy for Ripple, here is the dream buy for Litecoin. It is obviously area around 0.0100
4H : http://prntscr.com/n0wea2
3D: http://prntscr.com/n0wgp6
Looking at lower time frame (4H), yesterday's buyback was an obvious bullish sign but looking at where it happened in the overall trend, we will not buy that bullish sign.
If the sentiment is bullish, the buyback that happened yesterday would already take price 7-10% higher. In this situation, it hit 0.0150 and dropped to an initial price.
If this buyback didn't bring us new bullish move to 0.0160, I am curious what will. If the price won't go up, there is only one way where it can go 📉
We will not short it because on Bitmex it is too low volume for our investment account but if you have low account size, why not. We would even share. short signal but the fact that the contract expires in 8 days doesn't give us enough time for the main target to be reached.
This is the coin you want to have in next "altcoin season" but don't buy it now because it can easily test at least 0.0130 and remain extra bullish because that test on higher time frames would be very small decline which would give a very bullish sign of an overall market trend.
If we shared dream buy for Ripple, here is the dream buy for Litecoin. It is obviously area around 0.0100
Lightshot
Screenshot
Captured with Lightshot
Forwarded from Future Crypto Experts - Paid Channel
The coin that made me 60X in January 2018 when I was buying at $.3 and selling roughly at the top ($16 and $20) is warming up again.
This is an amazing way to raise demand for KCS: https://www.kucoin.com/news/en-introducing-kucoin-spotlight
If they can continue with such great updates, it can be a good copycat of BNB.
Of course that the size and value of these two cant be measured, but it doesn't matter because the price will follow the hype and updates like this one are going to increase the hype for sure.
This is an amazing way to raise demand for KCS: https://www.kucoin.com/news/en-introducing-kucoin-spotlight
If they can continue with such great updates, it can be a good copycat of BNB.
Of course that the size and value of these two cant be measured, but it doesn't matter because the price will follow the hype and updates like this one are going to increase the hype for sure.
Kucoin
Introducing KuCoin Spotlight | KuCoin
Dear KuCoin users,KuCoin has been persistent in its pursuit of finding and supporting blockchain projects with real potential. KuCoin’s vision brings Spotlight
BTC/USD: https://www.tradingview.com/x/ONa9KQ3y
If this move doesn't get bought up, major move down and selloff is coming.
If this move doesn't get bought up, major move down and selloff is coming.
Forwarded from Future Crypto Experts - Paid Channel
BTC/USD: https://www.tradingview.com/x/pWhd0ogO
Two things we want to say about this. The bullish scenario is postponed at least for the next 36-48 hours. In this period, it is either going to drop further down to EMA 50 (3850) and even further or it is going to consolidate above 3950 and gain momentum for up move.
It is bearish engulfing and type of the market you do not want to long as long as it is below 4000. Why 4000?
4H: https://www.tradingview.com/x/0CjGpJnP
Look at this price action that gives us the range 3950-4000.
We can't say we are extra bearish because of yesterday's move down. Yeah, it dropped but without follow up and without price action on lower time frames that would make us extra bearish.
We have ETH short, but on BTC we are flat waiting for either test of these two bands of the range to see how it responds. Yeah, more interested in short but the biggest question is what type of trade to take: scalp or swing. We do believe it will go down to test yesterday's low but what will happen after that is something we can't say now.
Two things we want to say about this. The bullish scenario is postponed at least for the next 36-48 hours. In this period, it is either going to drop further down to EMA 50 (3850) and even further or it is going to consolidate above 3950 and gain momentum for up move.
It is bearish engulfing and type of the market you do not want to long as long as it is below 4000. Why 4000?
4H: https://www.tradingview.com/x/0CjGpJnP
Look at this price action that gives us the range 3950-4000.
We can't say we are extra bearish because of yesterday's move down. Yeah, it dropped but without follow up and without price action on lower time frames that would make us extra bearish.
We have ETH short, but on BTC we are flat waiting for either test of these two bands of the range to see how it responds. Yeah, more interested in short but the biggest question is what type of trade to take: scalp or swing. We do believe it will go down to test yesterday's low but what will happen after that is something we can't say now.
Forwarded from Future Crypto Experts - Paid Channel
BTC/USD: https://www.tradingview.com/x/dXiGcYNb
This is what we expect from BTC to do today. If it drops below recent swing low, we may see big dump to at least EMA 50 because below that previous low are stop loss orders and if they get reached, autofill will happen instantly.
If bitcoin wants to go up, it has to take out this low and to be bought instantly so we can expect upward momentum.
So, today we expect the decline to that low and after that, we will see what next.
This is what we expect from BTC to do today. If it drops below recent swing low, we may see big dump to at least EMA 50 because below that previous low are stop loss orders and if they get reached, autofill will happen instantly.
If bitcoin wants to go up, it has to take out this low and to be bought instantly so we can expect upward momentum.
So, today we expect the decline to that low and after that, we will see what next.
Forwarded from Future Crypto Experts - Paid Channel
Short ETH
Entry: 135.0-137.0
Stop loss above 139.0
Targets:
1) 127
2) 122
3) 113
The range is literally for three weeks, and we are seeing it is getting tighter and tighter and we do believe very soon the big move is coming and our opinion is that it is going to move down.
Good Luck
Entry: 135.0-137.0
Stop loss above 139.0
Targets:
1) 127
2) 122
3) 113
The range is literally for three weeks, and we are seeing it is getting tighter and tighter and we do believe very soon the big move is coming and our opinion is that it is going to move down.
Good Luck
Fake trading volume
There was a lot of rumors that coinmarketcap is showing fake trading volume. Now, we finally have the confirmation but this surprised even the biggest haters. More than 90% of the volume is fake 😱
Maybe you were curious why we stopped using the volume on our charts. Here is a clear reason. We did that 3-4 months ago because manipulation on volume was obvious.
Go on coinmarketcap and check the highest volume for BTC pairs. Where is Binance, the biggest crypto exchange? Yeah, even there are some fae volumes there but it can't be compared to the rest by fake volume. Looks like 99% of declared volume on other exchanges are fake which is shocking.
Suggestion to all of you is to exclude volume from your analysis because it won't help you. On some exchanges the volume will be extremely high while on others will be low. Which one to trust?
There was a lot of rumors that coinmarketcap is showing fake trading volume. Now, we finally have the confirmation but this surprised even the biggest haters. More than 90% of the volume is fake 😱
Maybe you were curious why we stopped using the volume on our charts. Here is a clear reason. We did that 3-4 months ago because manipulation on volume was obvious.
Go on coinmarketcap and check the highest volume for BTC pairs. Where is Binance, the biggest crypto exchange? Yeah, even there are some fae volumes there but it can't be compared to the rest by fake volume. Looks like 99% of declared volume on other exchanges are fake which is shocking.
Suggestion to all of you is to exclude volume from your analysis because it won't help you. On some exchanges the volume will be extremely high while on others will be low. Which one to trust?
Forwarded from Future Crypto Experts - Paid Channel
BTC/USD: https://www.tradingview.com/x/EgZ5zOo8
This chart is looking weak and we do believe the big dump may happen very soon. Apart from the chart, there are a few other reasons.
Longs are extremely high. We do not care about the number of opened longs or short but their ratio. The fact that 64% of positions on Bitmex are long would scare me to even think of longing.
As we follow this ratio consistently, it is barely to see ratio above 60%. Now it is almost 65%.
Why is this important?
If this moon, Bitmex will be in trouble. There are not enough short positions to feed all these longs once they end up in profit. If we see a move of 10% to the upside, a significant percentage of these shorts will be liquidated and then Bitmex will have to pay all these longs.
This is data from Bitmex, not Bitfinex. On Bitfinex we have 56% longs, but the number of dollars in those longs is way lower than on Bitmex.
Another reason is the bullish tweet by CNBC. You will think I am joking, but if you check in history, whenever they turn bullish, the price usually drops. If they turn bearish, bullish momentum is expected.
So, two things may happen in our opinion.
The first thing is the massive drop to $3700 and later on maybe even to $3500. The second scenario would be massive long squeeze that will be bought back so the number of longs will decrease drastically so the price can go up without all these longs waiting to cash out and dump their bags.
Either a big dump or a big dump that will be bought back instantly. The second scenario is called manipulation but when you are trading on Bitmex, everything is manipulated so you even forget that exists and you even anticipate manipulation.
This chart is looking weak and we do believe the big dump may happen very soon. Apart from the chart, there are a few other reasons.
Longs are extremely high. We do not care about the number of opened longs or short but their ratio. The fact that 64% of positions on Bitmex are long would scare me to even think of longing.
As we follow this ratio consistently, it is barely to see ratio above 60%. Now it is almost 65%.
Why is this important?
If this moon, Bitmex will be in trouble. There are not enough short positions to feed all these longs once they end up in profit. If we see a move of 10% to the upside, a significant percentage of these shorts will be liquidated and then Bitmex will have to pay all these longs.
This is data from Bitmex, not Bitfinex. On Bitfinex we have 56% longs, but the number of dollars in those longs is way lower than on Bitmex.
Another reason is the bullish tweet by CNBC. You will think I am joking, but if you check in history, whenever they turn bullish, the price usually drops. If they turn bearish, bullish momentum is expected.
So, two things may happen in our opinion.
The first thing is the massive drop to $3700 and later on maybe even to $3500. The second scenario would be massive long squeeze that will be bought back so the number of longs will decrease drastically so the price can go up without all these longs waiting to cash out and dump their bags.
Either a big dump or a big dump that will be bought back instantly. The second scenario is called manipulation but when you are trading on Bitmex, everything is manipulated so you even forget that exists and you even anticipate manipulation.
BTC/USD: http://prntscr.com/n73pt5
Amazing move up. If it drops to 4700, we will long it or at least look for longs. If it goes to 5800-6000, we will look for shorts.
Everything else right now is gambling and empty room without support/resistance.
Amazing move up. If it drops to 4700, we will long it or at least look for longs. If it goes to 5800-6000, we will look for shorts.
Everything else right now is gambling and empty room without support/resistance.
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We see weakness in the market which makes us believe that Bitcoin is about to test $4600-4700 area before going further up. If that area holds, we may see an attempt of reaching a new local high around $5500.
Going towards our projected area of 4700 after making a fakeout to the upside showing clear weakness.