Bitcoin took out previous high. Now it is up to price action to show us the direction.
Why taking early profits on BTC longs?
At the times you are most bullish, you have to stay calm and reasonable. The price goes up and down.
The trade I took was nothing more than trade. Once it makes you profit, take it and wait for the next setup.
We have not filled CME Futures gap, price is at weekly resistance, we took out previous high with lower volume. These 3 are more than enough to convince me to take part of the profit and let the rest run.
$9500 was my main target. It got exceeded by $100. If you are not taking profit on your target, you are hoping you were wrong at the time you were predefining your target and stop loss.
This creates an inner conflict that is the root of all trading problems.
Be happy, enjoy the profit and wait for the next setups.
At the times you are most bullish, you have to stay calm and reasonable. The price goes up and down.
The trade I took was nothing more than trade. Once it makes you profit, take it and wait for the next setup.
We have not filled CME Futures gap, price is at weekly resistance, we took out previous high with lower volume. These 3 are more than enough to convince me to take part of the profit and let the rest run.
$9500 was my main target. It got exceeded by $100. If you are not taking profit on your target, you are hoping you were wrong at the time you were predefining your target and stop loss.
This creates an inner conflict that is the root of all trading problems.
Be happy, enjoy the profit and wait for the next setups.
All bullish targets on Bitcoin were reached as well as the majority of bearish targets on alt/btc pairs.
We are awaiting weekly closure to get bias for the next week.
Tomorrow morning after weekly close we will have our third #CryptoMonday where we will go through top5 cryptos.
Tomorrow evening we will have #TechnicalEvening that will cover price action of 7 altcoins.
Get ready,
CS Admin.
We are awaiting weekly closure to get bias for the next week.
Tomorrow morning after weekly close we will have our third #CryptoMonday where we will go through top5 cryptos.
Tomorrow evening we will have #TechnicalEvening that will cover price action of 7 altcoins.
Get ready,
CS Admin.
#Bitcoin
The price smashed through the resistance turning $9600 into the support.
$11500 is next resistance. It is built up by confluence between the weekly and monthly time frame.
The price action is looking amazing but the monthly time frame is still looking tricky. Currently, it is strong up candle but because of the wick it made at the beginning of the monthly, the bullish candlestick can be turned into bearish one easily if we see a drop to 9k area.
We are currently not in a position on Bitcoin. Apart from small intraday scalps, we are waiting for the next profitable setup.
This weekly can be very tricky. It can send us to $13 000 in the week ahead but also below $9000. Waiting for monthly close to show us bias for the period ahead.
The price smashed through the resistance turning $9600 into the support.
$11500 is next resistance. It is built up by confluence between the weekly and monthly time frame.
The price action is looking amazing but the monthly time frame is still looking tricky. Currently, it is strong up candle but because of the wick it made at the beginning of the monthly, the bullish candlestick can be turned into bearish one easily if we see a drop to 9k area.
We are currently not in a position on Bitcoin. Apart from small intraday scalps, we are waiting for the next profitable setup.
This weekly can be very tricky. It can send us to $13 000 in the week ahead but also below $9000. Waiting for monthly close to show us bias for the period ahead.
#Ethereum
The closure above resistance triggered $400 as the next target. The space between $300 and $400 is empty to close above the resistance is a very good sign and we do believe ETH is ready for the move.
The invalidation would be bearish engulfing on the previous weekly candle that would close below broken resistance and considering the upcoming monthly close, that would be very bearish for ETH.
The closure above resistance triggered $400 as the next target. The space between $300 and $400 is empty to close above the resistance is a very good sign and we do believe ETH is ready for the move.
The invalidation would be bearish engulfing on the previous weekly candle that would close below broken resistance and considering the upcoming monthly close, that would be very bearish for ETH.
#Ripple
The move above trading range was bullish but the close back in the range is not something bulls wanted to see.
USD pair is still looking decent but XRPBTC pair is at the edge and move down could happen very soon that would be 20-30% at least.
Because USD pair is not bad, this still has the potential of reaching targets but it is very hard to say what will be the catalyst for that, up move on BTC or up move on XRPBTC.
The move above trading range was bullish but the close back in the range is not something bulls wanted to see.
USD pair is still looking decent but XRPBTC pair is at the edge and move down could happen very soon that would be 20-30% at least.
Because USD pair is not bad, this still has the potential of reaching targets but it is very hard to say what will be the catalyst for that, up move on BTC or up move on XRPBTC.
#BitcoinCash
The closure above resistance was pretty decent and we can still see the move to the main resistance.
Because of this, we will be monitoring price action on the retest of the broken resistance.
The setup is nice so if we get a bullish sign, it would be nice trade targeting $600 at least.
It is very important that BCHBTC reclaim broken support. If that happens, the move up on USD pair is very likely to happen.
The closure above resistance was pretty decent and we can still see the move to the main resistance.
Because of this, we will be monitoring price action on the retest of the broken resistance.
The setup is nice so if we get a bullish sign, it would be nice trade targeting $600 at least.
It is very important that BCHBTC reclaim broken support. If that happens, the move up on USD pair is very likely to happen.
#Bitcoin
The price is currently above the last meaningful resistance on weekly time frame $11500.
If we get a close above $11500, we do not have really any big resistance before the new all-time high.
Maybe this area around $13500-14000 can act as a resistance. But if we break that are too, we will see soon new all-time high.
Invalidation would be a close below resistance $11500 on the weekly time frame.
The price is currently above the last meaningful resistance on weekly time frame $11500.
If we get a close above $11500, we do not have really any big resistance before the new all-time high.
Maybe this area around $13500-14000 can act as a resistance. But if we break that are too, we will see soon new all-time high.
Invalidation would be a close below resistance $11500 on the weekly time frame.
Bitcoin got rejected by last potential resistance ($14 000).
If we see a weekly close below $11500 we can drop below $10 000 next week.
Everything depends on that closure and we are waiting for that.
If we see a weekly close below $11500 we can drop below $10 000 next week.
Everything depends on that closure and we are waiting for that.
Crypto Signals
It’s time to start accumulating Litecoin. Monitoring closely price action in this area and waiting for rejection that will be sign to start buying.
Litecoin was bought up in our buy area. Awaiting weekly and monthly close but at the moment considering the halving that is coming, we target 0.0150 at least if not new highs (0.02).
Bitcoin
The weekly close is coming. If we see a close below $11 500, we will see Bitcoin below $10 000.
Generally very strong and there is no weakness on large time frames.
All these pullbacks are great because the price is establishing support on the way up by making higher lows. Move up without pullback is not healthy and once it's over, the sharp drop will happen.
It would be great if we consolidate around this level in July so we can establish strong support around $8000-10000 that will be very helpful for reaching new all time high.
The weekly close is coming. If we see a close below $11 500, we will see Bitcoin below $10 000.
Generally very strong and there is no weakness on large time frames.
All these pullbacks are great because the price is establishing support on the way up by making higher lows. Move up without pullback is not healthy and once it's over, the sharp drop will happen.
It would be great if we consolidate around this level in July so we can establish strong support around $8000-10000 that will be very helpful for reaching new all time high.
There is no single thing that would make me buy this coin.
On the weekly time frame, it broke through the long-term trend line. Unless CZ makes some incredible pump above 0.004 and invalidates this move down. I see this entering downtrend that will last at least a couple of weeks.
On a 3D time frame, we got close below support and bearish retest. If we can short this, this is a perfect short setup.
I also forgot to mention close below moving average that was support since December 2018.
If you are still holding it, think about that decision 🙏
I won't say I told you but go and check our previous post about BNB. I clearly mentioned its overbought chart and sooner or later it will run out of bullish fundamentals. Once it happens, the downtrend is coming.
And it's happening...
On the weekly time frame, it broke through the long-term trend line. Unless CZ makes some incredible pump above 0.004 and invalidates this move down. I see this entering downtrend that will last at least a couple of weeks.
On a 3D time frame, we got close below support and bearish retest. If we can short this, this is a perfect short setup.
I also forgot to mention close below moving average that was support since December 2018.
If you are still holding it, think about that decision 🙏
I won't say I told you but go and check our previous post about BNB. I clearly mentioned its overbought chart and sooner or later it will run out of bullish fundamentals. Once it happens, the downtrend is coming.
And it's happening...