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.
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).
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.
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.
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...
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...
I really enjoy writing those educational tips about market psychology and what's behind candlesticks and charts.
Please let me know if you like them or you prefer the solely technical point of view😉
Reach out at @CryptoSignalsAdmin
Please let me know if you like them or you prefer the solely technical point of view😉
Reach out at @CryptoSignalsAdmin
After some badass days in the market, we’re going through some consolidation periods and looking at upcoming funding rate fees, we’re most likely going to see a continuation of this consolidation.
The wicks price forms at support are very good sigs that buyers are present and that market condition is still pretty good.
In exactly 48 hours from now, we’re going to see weekly closure.
That’s going to be very important because we can get some good signs for either move below $9,000 or above $11,000 so I’m very excited for that weekly closure.
If I spot a sudden change in funding or some technical sign, I’m going to update you.
The wicks price forms at support are very good sigs that buyers are present and that market condition is still pretty good.
In exactly 48 hours from now, we’re going to see weekly closure.
That’s going to be very important because we can get some good signs for either move below $9,000 or above $11,000 so I’m very excited for that weekly closure.
If I spot a sudden change in funding or some technical sign, I’m going to update you.
Very slow Saturday in the market.
It seems like everyone's waiting for that weekly closure to spark some buying/selling pressure in the market.
Be aware of potential moves up/down tomorrow because there’s going to be attempts for that weekly closure for sure because it can impact an upcoming week or two.
It seems like everyone's waiting for that weekly closure to spark some buying/selling pressure in the market.
Be aware of potential moves up/down tomorrow because there’s going to be attempts for that weekly closure for sure because it can impact an upcoming week or two.
Move up towards weekly closure makes that closure very bullish but let’s wait for it to close that way so we can confirm it.
The move up was followed by very low volume so it’s not impossible to see a move back down because we don’t need a lot of sellers to do that.
I’ll wait for weekly closure and then form my bias for the week ahead.
Currently, it’s good for bulls but it’s Sunday and we saw many times a counter move on Sunday that screwed up everything.
The move up was followed by very low volume so it’s not impossible to see a move back down because we don’t need a lot of sellers to do that.
I’ll wait for weekly closure and then form my bias for the week ahead.
Currently, it’s good for bulls but it’s Sunday and we saw many times a counter move on Sunday that screwed up everything.
Yesterday’s weekly closure didn’t give me the confirmation I was looking so I am still neutral.
Yes, upcoming months are fundamentally bullish, bbut it doesn’t mean we can’t see a pullback of $1000 or so.
As I trader, after technicals, I need to think of risk-reward and because of it, I can’t afford myself stop loss of $1000.
Because of it, I remain neutral until the market offers me a profitable swing trade opportunity.
In the meantime, there’s always chances for intraday scalps.
People think there’s something hidden from them and they can’t understand that $500 move to the upside or downside can change a lot, especially when we’re approaching monthly closure.
That potential move of $500 to the upside or downside can change the monthly timeframe a lot and that’s something you should be aware of.
Remember, it’s way better sitting in case waiting for the trade than being in a losing trade.
There’s nothing bad in waiting for confirmation.
Sometimes, the hardest thing to do is to do nothing.
As always, once I get a clear sign, I'll share it with you.
Yes, upcoming months are fundamentally bullish, bbut it doesn’t mean we can’t see a pullback of $1000 or so.
As I trader, after technicals, I need to think of risk-reward and because of it, I can’t afford myself stop loss of $1000.
Because of it, I remain neutral until the market offers me a profitable swing trade opportunity.
In the meantime, there’s always chances for intraday scalps.
People think there’s something hidden from them and they can’t understand that $500 move to the upside or downside can change a lot, especially when we’re approaching monthly closure.
That potential move of $500 to the upside or downside can change the monthly timeframe a lot and that’s something you should be aware of.
Remember, it’s way better sitting in case waiting for the trade than being in a losing trade.
There’s nothing bad in waiting for confirmation.
Sometimes, the hardest thing to do is to do nothing.
As always, once I get a clear sign, I'll share it with you.
When alt season?
I think it’s already here!
Looking at this chart, ETHBTC is about to end its downtrend.
ETHBTC spent more almost 2 years in this downtrend.
The main target is 0.05BTC and I think it’s going be a very tough area to break.
I can't call it a potential top when we're still in the early stage of the uptrend but that's the area where I expect a lot of sellers ( I'll be one of them at least for a portion of my holdings).
The invalidation would be close back below 0.02BTC on the monthly timeframe.
Then I'll be questioning the future of this project.
Early invalidation would be weekly close below 0.025BTC.
I think it’s already here!
Looking at this chart, ETHBTC is about to end its downtrend.
ETHBTC spent more almost 2 years in this downtrend.
The main target is 0.05BTC and I think it’s going be a very tough area to break.
I can't call it a potential top when we're still in the early stage of the uptrend but that's the area where I expect a lot of sellers ( I'll be one of them at least for a portion of my holdings).
The invalidation would be close back below 0.02BTC on the monthly timeframe.
Then I'll be questioning the future of this project.
Early invalidation would be weekly close below 0.025BTC.
Send to @CryptoSignalsAdmin all your trading related questions and I’m going to answer them privately and some of the most frequent ones here in the channel.
Bitcoin broke the support area and is heading now to test the next one at $8700.
No matter what anyone else thinks or say, I don’t think the price will close below $8700 on higher timeframes (weekly and monthly).
We can see some wicks of $200-300 below but I don’t give enough chance for price to close below and head lower.
We’re simply in an uptrend and this is nothing more than a retracement that already turned the whole market bearish and in panic mode.
That’s the goal of retracement in the bullish market to turn majority bearish that are looking too small perspective.
So, once and if we approach $8700, I’ll definitely be looking for buys.
No matter what anyone else thinks or say, I don’t think the price will close below $8700 on higher timeframes (weekly and monthly).
We can see some wicks of $200-300 below but I don’t give enough chance for price to close below and head lower.
We’re simply in an uptrend and this is nothing more than a retracement that already turned the whole market bearish and in panic mode.
That’s the goal of retracement in the bullish market to turn majority bearish that are looking too small perspective.
So, once and if we approach $8700, I’ll definitely be looking for buys.
What about the coronavirus panic?
Nothing because it doesn’t affect something that’s in a cloud, something that’s in code.
It does affect the traditional system because paper money is one of the biggest virus transmitters simply because it goes from hand to hand and you never know if the person that had it before you were infected or not.
It also affects the traditional system because whole countries are being closed.
Manufactures, public events, flights…
No tourists = no profit.
That’s why the stock market is dropping, why there’s panic in the world.
Don’t compare Bitcoin to fiat money and the traditional system.
Compare it to Gold that’s considered as a store of value and it usually performs well when there’s a problem in the world.
Do you know what Gold is doing right now?
It’s going to the moon!
Fundamentally, technically, rationally, Bitcoin has very strong support in that $8700-8500 area.
Halving is 70-75 days from now so I really don’t see the reason for panic.
I’m in the market for years and the biggest panic is before big moves.
The biggest panic I remember was in September 2017 when Bitcoin trading was banned in China.
Just three months after, we hit the highest price in the history of Bitcoin.
They want to scare you, then you’ll sell or short it and then once they start buying the bottom, your stop loss orders and your greed will act as a fuel that will push the price to the upside again.
Don’t let them trick you.
Nothing because it doesn’t affect something that’s in a cloud, something that’s in code.
It does affect the traditional system because paper money is one of the biggest virus transmitters simply because it goes from hand to hand and you never know if the person that had it before you were infected or not.
It also affects the traditional system because whole countries are being closed.
Manufactures, public events, flights…
No tourists = no profit.
That’s why the stock market is dropping, why there’s panic in the world.
Don’t compare Bitcoin to fiat money and the traditional system.
Compare it to Gold that’s considered as a store of value and it usually performs well when there’s a problem in the world.
Do you know what Gold is doing right now?
It’s going to the moon!
Fundamentally, technically, rationally, Bitcoin has very strong support in that $8700-8500 area.
Halving is 70-75 days from now so I really don’t see the reason for panic.
I’m in the market for years and the biggest panic is before big moves.
The biggest panic I remember was in September 2017 when Bitcoin trading was banned in China.
Just three months after, we hit the highest price in the history of Bitcoin.
They want to scare you, then you’ll sell or short it and then once they start buying the bottom, your stop loss orders and your greed will act as a fuel that will push the price to the upside again.
Don’t let them trick you.
And no, I’m not trading without technical confirmation but my general knowledge and experience help me remain focused and out of panic.
Crypto Signals
With this price action, ETHBTC pair is targeting 0.030BTC as the next major target and resistsance.
One more great bounce that confirms the horizontal line as the area of support.
The target remains the same.
The target remains the same.
While crypto people are worried about the recent dump in the market, the stock market is experiencing the biggest weekly drop since the recession in 2008.
Corporations continue to warn that they WON’T meet their quarter earnings targets (announced by Microsoft)
Goldman Sachs said in a report that they think US companies will generate zero earnings in 2020!
Are we at the beginning of the big market recession?
While I heard a lot of stories from experts that coronavirus is not that dangerous (as I already told you), it definitely affects the world economy.
Some people will say US did this to China. I don’t think so because big US companies depend on the Chinese marketplace.
Companies like Apple sell big % of their products to the Asian market and definitely, it will be hit by the current world situation.
Corporations continue to warn that they WON’T meet their quarter earnings targets (announced by Microsoft)
Goldman Sachs said in a report that they think US companies will generate zero earnings in 2020!
Are we at the beginning of the big market recession?
While I heard a lot of stories from experts that coronavirus is not that dangerous (as I already told you), it definitely affects the world economy.
Some people will say US did this to China. I don’t think so because big US companies depend on the Chinese marketplace.
Companies like Apple sell big % of their products to the Asian market and definitely, it will be hit by the current world situation.
Yesterday was the biggest drop in the stock market history.
Not only that, 3 out of 5 biggest drops happened this week.
We won’t get notified on TV that we’re in a recession.
We'll be looking back at this moment and say it was the beginning of the recession.
Not only average people more than 75% analyst on Wall Street didn't believe that they're in a recession back in 2008.
Maybe it's not a recession but those drops are enormous and are definitely a reason to consider recession as a potential scenario.
Not only that, 3 out of 5 biggest drops happened this week.
We won’t get notified on TV that we’re in a recession.
We'll be looking back at this moment and say it was the beginning of the recession.
Not only average people more than 75% analyst on Wall Street didn't believe that they're in a recession back in 2008.
Maybe it's not a recession but those drops are enormous and are definitely a reason to consider recession as a potential scenario.