I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. to learn more about how I use the indicators below and to get my complete trading strategy! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business.
My recent led to the following calls: < $5,750 by 11/15/2018 & my prediction for the bottom is $2,718 by 1/20/19 | My closely mirrored my price and time targets | before the end of 2018.
“Scaling into under $4,000 with ~15% – 33% of your net worth could be the best decision you have ever made. And if it isn’t then the risk is worth the reward.”
Position: Short ETH:BTC 0.03109 | Short from 0.00752 | Short EOS:BTC from 0.0008057 | Short from 0.00009434
Patterns: 4h | (Referring to Peter Brandt’s Last Day Rule) Watching for setup day to indicate that a bounce is coming – which would require a daily close > $4,112
Horizontal support and resistance: S: $3,500 | R: $3,800
BTCUSDSHORTS: Almost triggered my alert at 36,000 but not quite. Confirms that there is still room for another leg down to the $2,700 – $3,100 area.
Funding Rates: Shorts pay longs 0.0961%
Short term trend (4 day MA): Close below after testing above. Now entire candle is below
Medium term trend (9 day MA): Bear and gaining momentum (coming down at a sharper angle)
Long term trend ( 34 day MA): At $5,650
Overall trend: af’
Volume: Seeing some very significant at this price level. Not nearly enough for a bottom but plenty for a bounce.
FIB’s: (Start at $1,000 and connect to ATH’) 0.886 = $3,164 | 0.786 = $5,805
analysis: Last two daily’s were darth maul / long legged spinning tops. This is a good indication of a shakeout before a bounce.
Cloud: Daily shows big resistance above $5,000
TD’ Sequential: Two days ago we got a red 9 and that failed to provide a bounce. Now we are on a red 2 that is threatening to fall below red 1.
Visible Range: Broke down the bottom of the high node ( ) at $3,877. Refilling the gap below is to be expected. Next = $3,077
Price action: 24h: -6.25%
Bands: Bulge with price sticking to the bottom
Trendline: 4h bear trend waiting at $3,990 – $4,100 | Bottom of the channel held as support at $3,500
Daily Trend: (Using 1h 33 MA to identify daily trend)
Parabolic SAR: At $4,353 (right in line with )
RSI: Finally starting to see a small bull div’
Stochastic: “I’ve fallen and I can’t get up!”
Last Day Rule: Watching for close above $4,112 for setup day.
Summary: There are a number of indicators showing a bounce on the horizon. Funding rates are high for shorts, is much > average at this price level, the prior two daily candles closed long legged spinning tops ( darth maul candles). The and also indicate oversold conditions and the TD’ Sequential recently had a perfected red 9.
However i still think that we are going to see one more leg down before getting a bounce and potentially seeing a bottom. We broke down the high node on the VRVP and there is a gap below that needs to be filled.
The red 9 failed to provide a bounce (so far) and now we are on a red 2 that would fall below a red 1 at $3,522. The is stuck at the bottom. The price is still sticking to the bottom .
Furthermore it would give us a chance for proper capitulation. People are getting nervous now, but they are not throwing in the towel. If we selloff to $2,700 – $3,000 over the next day or two and then get a high / dragonfly then I will be ready to call a bottom.
Until then I am looking to short alts vs and I am preparing to buy back spot (time horizon is > 2 years). Orders remain set at $3,000.1 and $2,718.
Published at Tue, 27 Nov 2018 01:44:05 +0000
