Based on technical chart reading, just an idea of a possible projection.
To be better confirm in the following month
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So far, so good
RSI retesting uptrend support very well and we saw a clean retest of 25k support.
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Range Chart
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BTC Dominance wants to rise
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As DXY enters a resistance zone and MACD is showing a reversal, it correlates with the current potential short-term rise in equities/cryptos
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Short term target reached and I proceeded to sell 25% of my 25k position.
Below are my TP signal paste.pics/PE5HP
The next questions is will it retest the downside trendline at 26.350? The 0.236 Fibonacci? A little blurry for my taste.
I will remain focused on USDT dominance charts and I am currently creating a % change in dominance of all USD peg tokens relative to overall crypto market cap excluding USD peg tokens.
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Shook the shorts out, naturally prices can retrace down.
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I did not create an indicator I just added top 5 stable coin market dominance in % together.
עסקה סגורה: היעד הושג
Sold another 25% at 27400, 50% of trade remaining. If my technical analysis is correct in this scenario, I see another leg down a little above 25k before breaking upwards.
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Range chart supporting my thesis (PS: thanks to TraderSZ)
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So far so good, I can see selling pressure in the consolidation wedge pushing BTC lower to the rising channel support.
Daily MACD can indicate a local top and 4h MACD line is on overbought territory.
An indication I have been using and find that it is often accurate I call dynamic trend lines. I use the local low and local low and high to create a line that can show me exhaustion of a trend. In this case, it is the white dashed line and BTC broke the low. I will create a post on this indication.
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BTC broke all the last support, ready to go lower
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So far as planned
Keeping an eye on 24,450 but I don't see much movement before the start of the week
עסקה סגורה: היעד הושג
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So far, so good. I perfectly timed every market move since 2 months, currently top monthly PnL on Binance :) Follow my IG: hilius_savvy
At Asia market open we saw markets selling, as expected.
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Monthly range chart:
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Short squeeze could be coming but looks like it is ready for lower
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BTC acting funky ngl, will look at other indicators to have a clearer view.
Closely watching the dynamic trend line (dashed line).
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As mentioned yesterday when I saw a potential short squeeze. There was a lot pf shorts in the market building up an 26,500-26,600 has a lot of liquidations.
If prices don't retrace down now, might look to long short term.
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Well timed previous short-term short:
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As previously anticipated, a large amount of short positions were building up so BTC quickly took the highs. Still waiting to see what's next as I do not have a clear short-term view as of now.
If BTC breaks the dynamic trendline (dashed support line), I confirm more downside.
עסקה פעילה
הפקודה בוטלה
Closed my short a bit earlier at the breakout (blue trend). Looks like we could push higher towards 29k. I will increase my risk a bit but once a breakout confirmed at the yellow circled area, I will leverage long till 29K area.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.