what do i mean by SOS (sign of strength)?
with each test of the resistance, the bears are losing their strength
from a complete shut down (left side)
to a penetration of resistance (right side)
but the bears are still able to fight back pushing the price back down despite a close above
but this is of HUGE significance for the bulls because they have slowly pushed the bears back and manage to close above resistance!
hence, it is a SOS for btc
#learn
with each test of the resistance, the bears are losing their strength
from a complete shut down (left side)
to a penetration of resistance (right side)
but the bears are still able to fight back pushing the price back down despite a close above
but this is of HUGE significance for the bulls because they have slowly pushed the bears back and manage to close above resistance!
hence, it is a SOS for btc
#learn
basically, the bulls are REVVING their engines and very eager for a breakout
but not just yet!
but not just yet!
Forwarded from itzXtra
No kidding, but because of your technical analysis and the understanding of the market, I muself am really improving.
So big thanks bro, keep it up like this 🔥🔥
So big thanks bro, keep it up like this 🔥🔥
Crypto Mumbles
just a note, i am overall bullish on btc as mentioned multiple times in the channel so far however, i just don't feel this is the break out yet for btc i still feel that btc is ranging as of now hence my warning message
so a few of you guys asked whether it’s okay to trade btc now,
as mentioned just now, btc is still ranging after a fakeout (35.2k to 35.6k)
so you can either trade the extreme ends or wait for a break out/down but it’s not recommended to trade mid range as it can go both ways
stay out of alts for now as btc is ranging hence huge volatility
will check back on the market tomorrow
cheers!
as mentioned just now, btc is still ranging after a fakeout (35.2k to 35.6k)
so you can either trade the extreme ends or wait for a break out/down but it’s not recommended to trade mid range as it can go both ways
stay out of alts for now as btc is ranging hence huge volatility
will check back on the market tomorrow
cheers!
Crypto Mumbles
btc 15m tf you can take note of the price line too i had charted a price line at 35238 where I labelled "sells lower range" because if the candle had closed BELOW that line, I would have shorted and so will the market it's the line that would very likely…
remember that I shared this yesterday?
Crypto Mumbles
why 35238? 35238 is a very strong support that led btc to the 36k rally last week (left side) a green candle close above it sent prices flying up it was also a very strong resistance that led to btc's sell off when price couldnt close back above it (right…
here as to why it's such an important support line
highlighted with a red circle to make it clearer
what happened here:
bulls tried to defend the support line with a hammer followed by doji
but the bears won eventually, leading to a candle close BELOW the support line 35238 and what happened next was as shared before
it triggered a huge sell off and the market went red
so if you shorted upon candle closure below support as i shared last night,
nice profits! :-)
#calls
what happened here:
bulls tried to defend the support line with a hammer followed by doji
but the bears won eventually, leading to a candle close BELOW the support line 35238 and what happened next was as shared before
it triggered a huge sell off and the market went red
so if you shorted upon candle closure below support as i shared last night,
nice profits! :-)
#calls
i would think that a very good reason as to why bears were strong enough to be able to break the support is that
btc was able to close up above 35750 which is actually suppose to signify bullishness and an upward continuation
but the bears were able to still defend and drag it back down into range (unsure if it's organic or manipulation)
seeing this, retail investors and traders fomo-ed and shorted the market as well, seeing that btc does not have enough strength
more and more joined in as it kept going down and finally closed below the support line which triggered a further sell-off
just some thoughts!
btc was able to close up above 35750 which is actually suppose to signify bullishness and an upward continuation
but the bears were able to still defend and drag it back down into range (unsure if it's organic or manipulation)
seeing this, retail investors and traders fomo-ed and shorted the market as well, seeing that btc does not have enough strength
more and more joined in as it kept going down and finally closed below the support line which triggered a further sell-off
just some thoughts!
here's some navigation for the new people! :-)
please read the pinned message as well with disclaimers etc.
#tips - for tips on trading
#learn - for knowledge to be a better trader
#trades - for my trades (W - profit, L - loss)
#calls - for predictions
#analysis - for analysis of the market
#grateful - for the kind words i've heard from y'all :")
you can search these hashtags if you want to look back on key messages!
please read the pinned message as well with disclaimers etc.
#tips - for tips on trading
#learn - for knowledge to be a better trader
#trades - for my trades (W - profit, L - loss)
#calls - for predictions
#analysis - for analysis of the market
#grateful - for the kind words i've heard from y'all :")
you can search these hashtags if you want to look back on key messages!
Crypto Mumbles
higher tf view for you guys (4h tf) we can see that BTC is breaking out of the triangle with the most recent close it might be a fakeout so let's wait for the retest before entering #analysis
quick update:
was a fakeout as it failed the retest
back into the triangle
was a fakeout as it failed the retest
back into the triangle