ETH/USDT trade plan update

i really like the strength from the fakeout

eth remains trading in our buy zone with a few nice daily candle closes within

that's good consolidation

i'm getting some ETH here

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

BTC update

mid range holding well, should be able to bounce back up again

if we break down from the mid range then it will enter my expected consolidation zone

as mentioned

hourly candle broke mid range and dipped down to support/expected consolidation before a sharp spike back up to mid range

failure to break back above will lead to consolidation in the lower channel or the "expected consolidation zone"

bump

any lower from this expected zone and we're in a worse shape than we thought

@ scary zone

bearish on 4h bullish on daily

keep hodling

but if you have positions do place stops

GLTA!

daily closed bearish as well

things are not looking too good

channel has been broken, possibly heading into the scary zone

i’m biasing shorts here

if you’re shorting, becareful of liquidation pumps before heading down

set your stoploss slightly looser if you can afford to risk it

if not, stay away from the market today

shared this with trade pals earlier

btc will not be able to dump straight down like it used to due to bullish market sentiment and moonboys

there will be buy walls to slowly break down

and at ANY point in time, we can take off from a support level back up

hold your shorts with care and always remember to take profits

one thing that (highly likely) won’t go wrong in this market scenario

is buying SPOT or buying dips

given enough time and after correction you’ll have some profits ✅

^

SOL call in trade pals @ $50 before the run

already 50% no lev 🚀

(currently @ $80)

power of flexible trading!!

trading isn’t just all in futures (common mindset)

SPOT is important as well

some trades just aren’t suitable to hold in futures or on leverage

btc update!

we consolidated in my expected consolidation area and manage a close back up into the channel

whether it's a fakeout or not, we'll have to wait to see what btc does here over night

(nearly touched the scary zone phew)

to note:

we are still bearish on higher tf

still in a clear downtrend market structure

positions must have good stops

take care!

shared w trade pals 14 Aug

current 19 aug

pretty close!

slow break down in play ✅

if you're in shorts becareful of sudden liquidation long pumps from supports

still bearish, still clear downtrend ms ✅

same rule applies today,

trades will be riskier

if you cannot afford to risk it,

then stay away from the futures market these few days

btc:

close above 46k on hourly and we should be good to go

further confirmation would be establishing a basic uptrend ms

✅

let's see a new higher low made to confirm

the new higher low will be a good entry for longs as well