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.
For a variety of reasons I no longer believe that $2,718 will be the bottom of the 2018 bitcoin’ bear market. I am now very confident that we will before finding a bottom. That is due to Tyler Jenks’ hyperwave theory and the Point of Control on the Visible Range with > 2 year look back | before the end of 2018, however I do not believe that will be the bottom. Strongly expect ETH to return to single digits before the end of 2019 | 500</a> at $2,634
“I am still neutral / in a no trade zone however I am starting to lean slightly more .”
Position: Short ETH:BTC 0.03109 | Short EOS:BTC from 0.0008057 | Short ADA:BTC from 954 | Short LTC:BTC from 0.00778 | Short XRP:BTC from 8710
Patterns: Potential down trend | Hyperwave
Horizontal support and resistance: S: $3,370 | R: $3,600
BTCUSDSHORTS: Pulling back but wouldn’t call that a short squeeze. Watching to see if it turns prior down trend into support
Funding Rates: Longs receive 0.0518%
Short term trend (4 day MA): Close above and turning up =
Medium term trend (9 day MA): Close below, trending down and acting as resistance =
Long term trend ( 33 day MA):
Overall trend: , showing first signs up reversal
Volume: Nothing impressive
analysis: Solid candle that confirmed the reversal dojis
Cloud: Today it was brought to my attention how much more effective the cloud can be with traditional settings by my boy David Puell a/k/a @kenoshaking. I must say that I agree so far. There is currently a C Clamp with the Kijun-Sen lining up with my long term MA and the Tenkan-Sen lining up with my medium term MA. May not mean much to you but is eye opening to me since they are both illustrating the same trend and resistance levels. Makes me think about applying principles of Consensio to the Cloud. Was also just commenting on how useless the cloud becomes when markets are moving, and that doesn’t seem to be the case with traditional settings.
TD’ Sequential: G1 coming off a r8
Visible Range: 1 month lookback shows high nodes from $3,600 – $4,400
Price action: 24h: +3.3% | 2w: -12.1% | 1m: -44.6%
Bands: MA is trending down and waits at $3,875
Trendline: Starts at the top of 11/29 and connects to the top of the current candles wick
Daily Trend (Using 1h 33 MA to identify daily trend):
Parabolic SAR: $4,243
RSI: Broke back above 30 still in nice bull
Stochastic: buy. View this as a much better signal than normal. Incoming on 3d is an even stronger signal.
Last Day Rule: Setup day for bulls is $3,214 | Setup day for bears is $4,440
Summary: It can be frustrating when things are so neutral. However this is a great time to practice patience and potentially focus on other markets. I called a 500</a> last Friday and I am extremely interested to see what happens next week. Furthermore some alts continue to be very tradeable.
There was an entry triggered today on XRP at 8710 and that has immediately started moving in my favor!
Bullish Case
High reversal candles confirmed with today’s candle. The is very . The daily (traditional settings) has a C Clamp. The TD’ Sequential just had a price flip after a red 8. The daily is in a very significant bull div’.
Bearish Case
Potential new down trend forming that the current candle is wicking off. It is also in confluence with horizontal resistance and the 9 MA which is full .
I am not considering a long until there is a daily close above $3,700. Even then I don’t think I will be in love with the risk:reward.
Published at Mon, 10 Dec 2018 03:37:44 +0000
