Continuation pennant. $XBTUSD 1H BitMEX

Broken under volume.

Back in black. #Bitcoin looking promising here, pulling into previous resistance with fair buying volume. Comparable volume to the first Bart-Simpson top. Major resistance from 8100 through 8300.

As promised, here are the details of my next trade : It's important to understand first that trading is not about guessing where price is heading, but anticipating all scenarios and taking decisions with a good risk/reward. 👇👇 SCROLL DOWN 👇👇

$btc Bottom row, we see futures at a massive discount. Possible high risk - high reward position buying the discount and looking for a bounce before months in the future (and price premium associated).

#Bitcoin $btc Futures discount at all time highs ($122 below spot on 6 month contracts)

A look at the volume profile >>> Key levels are 5.8k and 4.3k. $XBTUSD 1D BitMEX

Could be a Tweezer Bottom on the 4h. Let's see how it closes.

Candle looks insane on 1H. Closing all for now.

Yep. Tweezer bottom/Bullish engulfing on the 4h.

Temporary #hope and fake outs. 🤨 $BTC #BTC #Bitcoin https://t.co/YES5K33MQu

https://t.co/JcfuP1OBU3

Chaikin Money Flow (C.M.F.)

Definition

Chaikin Money Flow (C.M.F.) is a technical analysis indicator used to measure Money Flow Volume over a set period of time. Money Flow Volume is a metric used to measure the buying and selling pressure of a security…

I will be creating a tweet thread here for explanations on indicators I use. I will try my best to add a new indicator daily. Like & Retweet so we can educate traders. 🙂 For day 1 here is the Chaikin Money Flow (CMF) https://t.co/CxtdqSRedi

This is worrisome: https://t.co/WerY0GOyYU Dow Theory is the basis for all technical analysis. So here is a prime on it to help you get on the right track. /1

If $btc price retraces above shown $7236, ~quarter of all open Bitfinex shorts will be underwater. That scenario may take up back up to $7800

One of my favorites! 🤑 Volume Profile - Fixed Range/Session Volume/Visible Range This has been a popular request, so please like & retweet to spread free education. 🏆 https://t.co/W5WNTW1yFf

Volume Profile (The explanation here is extremely detailed. The actual use I explain is the second bottom half)

1. Introduction
2. Use Options
3. Terminology
4. Example
5. Conclusion

1. Introduction

The Volume Profile is an extremely useful tool that…

RE: Shorts starting to dump now. Everything is going according to plan.