Hope this idea will inspire some of you ! If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video. Don't forget to hit the like/follow button if you feel like this post deserves it ;) Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum. You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
@PRO_Indicators, this current market is annoying. It looks like a whale makes a move, price changes in accordance with whatever's in the current order books then basically stays the same because everyone is too scared to do anything. Trading success seems more likely attributed to a lucky roll of the dice for the next whale move rather than due to considered TA strategy. Seems sitting on the sidelines is best at present.
angula
⋅
no bearish trend channel has been broken by now. Please re-align your trend lines.
PRO_Indicators
⋅
@angula, sorry but my trendlines are relevant, nothing to change out there
BlasTx
⋅
Looking forward to receiving your bear signal to short. Thank you great job !
Gomez_Addams
⋅
Still short. Have taken a ride off the decent bounces. The price action is weak and devoid of direction. Just look at the volumes. Momentum and strength on the daily ticking up, but from my perspective (big picture) its still in a bearish channel. Its very close to an attempt, but we'll see in the next 12hrs. However, BTC price over time is at the cross roads, and the next 7 days it will reveal where it wants to go in a broader sense. If the trend changes, I might one day go long again for more than a bounce. But that is only if it can stay above 6.75K, otherwise look out below. Where it goes from here will signal the direction of the whole cypto market for the coming months. The take away ... support is support till broken. But I got to say, it's not looking very strong. Forget the whale conspiracy theories, they're annoying. Right now the selling of BTC and Ether has more to do with obligations due. $25 Billion and 95B all up. A few of the exchanges have just over a billion owing. They pay out of working capital held in BTC and Ether. Kind of makes the whale look like a dolphin. However, the truth of the market is its determined by million of free willing market participants. So perhaps a school of sardines might be apt. Hmmm I'm hungry now ;) Thanks for sharing your perspective. Less noise than some of the publishers on TV.
PRO_Indicators
⋅
@diofonte, All I see here is a rangy price action.. I basically apply the range strategy here, we're right in the middle of the dumb zone... don't trade those prices
Gomez_Addams
⋅
@PRO_Indicators, Well dumb might be harsh for some who have a position or manage inventory. But I get your meaning, especially if you're trying to go long on a shorter term (crazy). Thiner trade and a lack of direction and conviction. The frustration at BTC that I hear is better characterized as dumb. Since we're not listening to what its telling us and besides its irrational. However, the price its attracted at this moment in time is not dumb. Its very important and significant from the perspective of the entire bullish cycle, not just the current one. This is where a possible reconciling of the mania cycle can occur. Or run up to the all time high, if you like. Its no coincidence. Failure here at support, will send an important signal to he entire crypto market. I intend to check your range strategy, though I'm not day trading anymore. My time horizon is a little longer and relaxed. ;)
rawasduke32
⋅
Have a great weekend. Thanks for your update.
M92x
⋅
We're still in a big descending triangle, haven't broken out of it yet, only wicked on 4hr. To describe it: 11.6k -> 9.k resistance points setting the trendline, support line touching 7300 -> 6600 -> 6450.
PRO_Indicators
⋅
@M92x, yess absolutely agree. I have no bullish vision of that market, just think we'll be able to get better prices to short if we're patient enough ! Of course that last only if we remain above the channel I drawn in my left chart.