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RSI for $BTC on the daily (inverse), showing a clear and steady uptrend toward the overbought region. Not good for bulls.

To explain, I inverted the chart of $BTC. So up = down; down = up.

Here is what the price action on the $BTC inverse chart looks like:

As you can see in the price action above ^ the price (on the inverse daily), is currently nudging against that $7.3k-$7.2k resistance zone that we had inked out in the previous articles that were posted.

Definitely something worth noting heavily.

The next support zone above this one is at $6.8k.

Based on the RSI, I definitely believe that there is another momentum for it to get there.

We need to remember that the inverse overbought = oversold on the regular and that oversold = the attractive spot for RSIs to hang in a bear market.

The fact that the RSI was overbought for bitcoin should have been a major danger signal for those that were invested into it, and I made that pretty patently clear in the prior price analysis reviews.

Thus, as far as I'm concerned, my short is still well in place.

My volatility RSI is still signaling buy (on the inverse daily), which is equivalent to this indicator screaming "SHORT!" on the reg charts.

I just put out the inverse to help continue to remove any biases that people may have re: price action for $BTC #Bitcoin

https://twitter.com/coinbase/status/1025474348742660096

I expect that most people know that this is the reason why $ETC has been going crazy lately, but just wanted to put this information up in case you weren't aware for whatever reason.

I strongly expect that $XLM is another token that will be added at some time in the future (whenever they finally do decide to make such an addition). That's why I recommended it as a long-term grab in the past and I am standing firmly by that decision.

Full article for the price analysis of $OMG here: https://steemit.com/bitcoin/@proofofresearch/omisego-price-analysis-8-4-2018 …

TradingView idea posted for $OMG here: https://www.tradingview.com/chart/OMGBTC/CcutRdWB-OMG-Might-Not-Be-a-Suitable-Entry-for-Weeks/ …

Enjoy everyone.

Here's the idea for $ETH that I never got a chance to publish before: https://www.tradingview.com/chart/ETHUSD/R4lDKK9B-Trip-Down-to-300-s-inevitable-for-eth/

Just published a monster of an article about the ABCC exchange, definitely a must-read:

https://medium.com/zerononcense/the-ultimate-abcc-exchange-token-faq-pt-1-1559b45997be

Not sure if you all have been following the $BNB trade that I mentioned several days/couple weeks ago, but it's killing it at the moment.

Posted in this article (originally) on July 23rd. http://telegra.ph/BNB-Price-Analysis-07-23

This is why I keep telling people, it's a bad move to leave this chat.

I'm just giving away solid leads that are resulting in profits.

Can't say that there's anything that's really gone left, trading-wise, for any of the calls or articles that have been published or shared in this chat, Discord or Twiter for several weeks now.

We started off at 159k sats.

20%+ and running. That's fair :)

If you were smart enough to make this trade and you notice that your profits are still running, refer to this article that I wrote a little while to help conjure some ideas of how you'll mange this trade.

https://medium.com/zerononcense/how-to-take-profits-successfully-2267c32dc53d

I've said it before, but I'll say it again:

Trade management is something that ANY and EVERY successful trader must learn and perform at some point in time.

Otherwise, you'll never be successful at trading. At least not for any prolonged or sustained periods of time.

Sure, you may be able to 'call' some good picks, but if you aren't managing the picks properly, you won't actualize the profits that you would have otherwise had, and you'll end up either making less than you could have had or maybe even leaving with a loss in some cases.

Trade Management Includes:

1. Actually having a strategy before entering the trade (i.e., if price goes below/above this point I'm selling, I'm going to take 20% of profits if it goes here, if $BTC does ___, then I'll ___).

2. Outlining where you expect the price to end up at and what your plan is when it gets there. Don't be another trader that makes a good trade and then when you see the price of the coin go up, you start panicking because you have no clue when you should sell and you don't want to risk losing more profits by pulling out too early, but you don't want to stay in too long and then get screwed.

3. (When applicable), consider opening up a long/short that's on the opposite side of your trade to hedge (i.e., if you're long, open up a small-ish short position to hedge you a little).

4. Take profits at some point if your really doing well in the trade.

5. Determine whether its more prudent for you to sit back and patiently wait for the price action to do what you expect or if it appears that you were "wrong".

6. Avoid trading off of emotion. Did your girlfriend/boyfriend just call you and tell you they've been cheating on you for the last 4 months? That sucks. Probably not the best time to start running through charts and making major decisions.

7. Examine the impact to your overall portfolio.

Target hit on $BTC. It's in the $7.2k range now.

Beautiful short that worked out to the letter.