Funding on ETHUSD is extremely high so what I can see using that data and this chart, we’re most likely to see a retest of red area in upcoming days.

Weak hands are out, it’s time for bulls to take control.

Would you like me to teach you about things that I use that are not solely based on technicals? What are the underlying forces in the market? Why there’s funding and how does it affect the market?
anonymous poll

Yes! – 226
👍👍👍👍👍👍👍 96%

No, I already know about it. – 9
▫️ 4%

👥 235 people voted so far.

We got weekly closure.

How to interpret this?

I see this as a perfect short scenario where people will be putting their stop loss above this Doji candlestick.

The weekend did it’s job to create that bearish scenario?

One more time, Bitcoin is in it’s last stage of the parabolic move up but in my opinion, it’s not over yet.

The perfect bearish scenario can easily catch the majority on the wrong side and push the price above $10,500.

I’m not bearish I was 48 hours ago.

We saw sell-off that was bought up and now I’m opened for either direction.

I’m not going to open swing positions but my intraday trades will be highly dependent on funding situation because it’s easy readable and I’m ending this week with 6 out of 7 profitable days.

The only day I didn’t make a profit was the one I didn’t find setup and it was Friday

If it will be going up, it won’t stop at $10,500 but exceed above it most likely to $11,500

I really don’t have downside targets but I will establish them if we get daily close below 9.6k

With this price action, ETHBTC pair is targeting 0.030BTC as the next major target and resistsance.

As mentioned, Bitcoin tested resistance area that’s going to play a major role for upcoming days.

Close above that area and we can easily see an attempt for $11,000 and main resistance $11,500.

Weekly support $9600 held one more time and we’re in the range between $9600 and $10,200.

Once one of these two areas give up, we’ll get a new trend either to $8500-8800 or $11,000-11,500.

ETHUSD approaching the area I called a few days ago.

I expect it to take out the previous high and then we’ll see where we go from that.

The main target is 2019’s high ($350).

Resistance at work!

Just when everyone thought Bitcoin is going to new highs after reclaiming $10k, they forgot about very important resistance.

$150 million longs just got liquidated!

This is what means waiting for confirmation.

Never try to outsmart the market.

Where next?

All impatient longs are out of the market which means that we have no artificial selling pressure by a huge number of long stop loss orders.

Having that in mind, if we keep this area around $9600 and above, I’m more bullish than bearish but still, confirmation is close above resistance ($10,300).

Taking longs at the support that was tested so many times only in case you use small position size.

But, if you ask me, would you rather open long or short at the current price ($9600), I would choose long.

The stop loss area is closer and I can get way better risk-reward on a long position and I know that long positions are out of the market because of this recent move.

But again, this is not the smartest time to be in any position.

I told you a couple of times, Bitcoin is in its latest stage of the parabolic move up.

Moves can happen in either direction and they can be very volatile.

Stay safe until it consolidates and offers profitable setup.

Don’t chase the market; let it unfold by itself.

P.S. I was writing today about this market scenario in my upcoming course and just 5-6 hours later it happened 😁

This isn't manipulation for those that wonder.

This was artificial selling caused by the enormous amount of long stop loss orders.

I got asked a lot of BNB coin so here’s my opinion on it.

Before I state my opinion, I just want to point out that I’m not holding this coin.

The upper green area has to hold if the price wants to break resistance at 25,000 sats.

Consolidation between upper green area and red line would be bullish.

Closure below upper green area would lead us to lower green areas.

Even though this is coin highly dependent on fundamentals, it follows technicals as well.

The reason for a move up was a coin burn that happened 2 weeks ago.

If you're into this coin, I suggest you focus on coin burn events.

Buy 15-30 days before and sell once they publish the announcement.

This is a pretty good strategy, especially if it aligns with technicals.

Upcoming coin burn is in 3 months so it has almost 2 months for dropping before next move up.

That's why this upper green support could be broken and buys should be allocated at lower around the green area (maybe even lower depends on technicals).

I'll update BNB in a month as we approach the next coin burn to see where we could get a profitable setup.

Is there a chance that those clowns stop making a fool of themselves and a community as a whole?

What’s even worse is those 2.3k likes lol

Why are you so desperate for Bitcoin to go up?

Those who know how to make money will make it in any market type.

This market is still very immature full of impatient, short term oriented people.

That’s why we have and will have drops of $1000 in less than an hour.

The goal is to make money whatever the market has to offer.

If you depend on outside circumstances to make you successful in trading, you're going to keep suffering in the markets.

Your interpretation of market information is what's going to make you successful.

If you shorted it yesterday, you would make a huge profit but you didn't even consider that scenario because you're following fools like this one...

By "you" I don't mean you that are reading this at the moment.

Since you're reading this, you're already far away in the process than those who like and follow "influencers" similar to this one.

Seems like a great tactic to counter trade this guy 😁

I'm not calling myself a professional trader but I'm on my way to becoming one of them.

They're totally unbiased when they approach the chart.

No emotions at all, just knowledge they acquired in the past.

No matter if the coin or any asset they trade is something they like or not, they're always going to follow the plan and their strategy.

I love Bitcoin and all about it but I'm mostly bearish on it.

Yeah, it seems like a paradox but I adapted to the market.

The reason is the funding rate that will, in 95% situation, favourize shorts over longs.

Yeah, those fools don't even know what's funding and why it is so important.

For holding short positions, the market will actually reward you every 8 hours.

It means, even if your setup failed, your risk would be way lower because you received a couple of times funding fees.

Nobody talks about this because they're still living in 2017 and crying for their buys above $15k.

Move on, you can still make that buy better.

Just for instance, if you bought Bitcoin at $15k, try by trading to double it.

It may take a couple of months but once you make it happen, you're buy price will be half of the actual buy price.

It means once we're back to $15k, the value of your portfolio will be at $30k instead of $15k.

It's way easier to try and double your coins that to expect from Bitcoin to make 100%.

That's why I like trading so much.

You buy Bitcoin at $10k and then you double the amount you bought.

Once Bitcoin hit $20k, you'll have 4x of your investment instead of 2x.

And I'm just talking of doubling it.

In a year, you can even 3x or 4x it...