🎓Market Update🎓
It has been a wild day in the markets. It is nescisary to reassess our trading approach after today's events.
Towards the end of the day the volume on Matic stands at about 30k BTC. It has tilted the market substantially.
A good place to start is dominance chart. It's the best way to get an idea about the market wide response to an event.
With that said however. The amount of data compressed into that simple line chart is so huge that it seems silly to think any one event could have any effect at all!
https://www.tradingview.com/x/wNLGTxaU/
It has been a wild day in the markets. It is nescisary to reassess our trading approach after today's events.
Towards the end of the day the volume on Matic stands at about 30k BTC. It has tilted the market substantially.
A good place to start is dominance chart. It's the best way to get an idea about the market wide response to an event.
With that said however. The amount of data compressed into that simple line chart is so huge that it seems silly to think any one event could have any effect at all!
https://www.tradingview.com/x/wNLGTxaU/
🎓 Bitcoin Dominance over Altcoins 🎓
Alright, let's take a closer look. The chart here shows us about 6 months worth of time. Bitcoin made its yearly right around July. Dominance peaked, and it's been trapped in a wedge until a few days ago. The dominance rating broke through the upper line and it appears to be making fresh support.
There are a few ways to interpret a chart like this. The one thing that can be gleaned is that Bitcoin should be out performing the Alts over the next week or two.
Now here is the catch, even if that does happen, this is no guarantee that bitcoin will be doing well at all! Bitcoin can be falling in price while the dominance rises if the Alt markets are bleeding faster.
https://www.tradingview.com/x/VeDQWPI2/
Alright, let's take a closer look. The chart here shows us about 6 months worth of time. Bitcoin made its yearly right around July. Dominance peaked, and it's been trapped in a wedge until a few days ago. The dominance rating broke through the upper line and it appears to be making fresh support.
There are a few ways to interpret a chart like this. The one thing that can be gleaned is that Bitcoin should be out performing the Alts over the next week or two.
Now here is the catch, even if that does happen, this is no guarantee that bitcoin will be doing well at all! Bitcoin can be falling in price while the dominance rises if the Alt markets are bleeding faster.
https://www.tradingview.com/x/VeDQWPI2/
🎓 Bitcoin in Perspective🎓
Here is a chart of Bitcoin to match the context of these two Dominance charts. Notice how the two peaks are not in sync. Dominance peaked early September after Bitcoin had been falling channel bound for months already. I really had no idea that this channel I drew so many months ago would still be in play.
The prices is experiencing some heavy resistance on the channel center line, and it seems like it will explore the lower dark band at the very least. I will not turn overly bearish until we see a break bellow the 7k threshold will send us to 5.6-6k.
https://www.tradingview.com/x/zW9IHG4g/
Here is a chart of Bitcoin to match the context of these two Dominance charts. Notice how the two peaks are not in sync. Dominance peaked early September after Bitcoin had been falling channel bound for months already. I really had no idea that this channel I drew so many months ago would still be in play.
The prices is experiencing some heavy resistance on the channel center line, and it seems like it will explore the lower dark band at the very least. I will not turn overly bearish until we see a break bellow the 7k threshold will send us to 5.6-6k.
https://www.tradingview.com/x/zW9IHG4g/
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
Position: Short Exchange: BitMex Coin: XBT/USD Entry at 7290 - 7330 Sell at 7230 - 7160 - 7090 - 7020 Remember to open SHORT position! Use 5X or cross leverage (5 - 7% balance) Stop Loss : Above 7466
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Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
Position: Short Exchange: BitMex Coin: XBT/USD Entry at 7290 - 7330 Sell at 7230 - 7160 - 7090 - 7020 Remember to open SHORT position! Use 5X or cross leverage (5 - 7% balance) Stop Loss : Above 7466
Oh boy, the days are here, nailing the profits.
Target two hit Captain.
Absolutely Mashed Baby!
Target two hit Captain.
Absolutely Mashed Baby!
$BTC
Figured I’d leave some education content with slow PA.
Mitigation block.
Low taken with price unable to make a higher high and keeping Market structure intact.
Would have been a breaker if price shifted MS.
Mitigation blocks usually means “larger players” are exiting their positions at a loss.
Mitigating the loses.
https://www.tradingview.com/x/6uZxbilS/
Figured I’d leave some education content with slow PA.
Mitigation block.
Low taken with price unable to make a higher high and keeping Market structure intact.
Would have been a breaker if price shifted MS.
Mitigation blocks usually means “larger players” are exiting their positions at a loss.
Mitigating the loses.
https://www.tradingview.com/x/6uZxbilS/
$BTC
Here is what a breaker is.
Liquidity taken, shift in market structure and ultimately failing to hold price up on a retest.
Side to side comparisons.
https://www.tradingview.com/x/ivrlVpi7/
Here is what a breaker is.
Liquidity taken, shift in market structure and ultimately failing to hold price up on a retest.
Side to side comparisons.
https://www.tradingview.com/x/ivrlVpi7/
$BTC
Lastly orderblocks with side comparison to the rest.
People usually confuse and think it’s any down move before a break in MS.
You need some sort of liquidty engineered prior to the move itself.
https://www.tradingview.com/x/eDo074LH/
Lastly orderblocks with side comparison to the rest.
People usually confuse and think it’s any down move before a break in MS.
You need some sort of liquidty engineered prior to the move itself.
https://www.tradingview.com/x/eDo074LH/
$BTC
Orderblocks
X is wrong
Check mark is right.
Engineered liquidity- break in MS and a solid retest.
They aren’t always fancy looking but it’s a matter of training the eye after a while.
https://www.tradingview.com/x/b5fBemEx/
Orderblocks
X is wrong
Check mark is right.
Engineered liquidity- break in MS and a solid retest.
They aren’t always fancy looking but it’s a matter of training the eye after a while.
https://www.tradingview.com/x/b5fBemEx/
$BTC
Trying to simplify ranges.
MS breaks and you have a swing low and high that forms that dictate the market.
You pay attention to which way the market goes when it ping pongs.
If one side gets swept then you look for opposing PA to shift the other way.
Personally I wait for deviation.
Wait for price to break outside “false breakout” before reclaiming and moving on.
https://www.tradingview.com/x/4s4mCGWZ/
Trying to simplify ranges.
MS breaks and you have a swing low and high that forms that dictate the market.
You pay attention to which way the market goes when it ping pongs.
If one side gets swept then you look for opposing PA to shift the other way.
Personally I wait for deviation.
Wait for price to break outside “false breakout” before reclaiming and moving on.
https://www.tradingview.com/x/4s4mCGWZ/
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
$BTC Trying to simplify ranges. MS breaks and you have a swing low and high that forms that dictate the market. You pay attention to which way the market goes when it ping pongs. If one side gets swept then you look for opposing PA to shift the other…
$BTC
Now this is the exact same PA as above but with OBs.
Low swept, shift in MS and price comes back.
When you mix your ranges with demand/supply levels it becomes a bit easier to dictate direction.
https://www.tradingview.com/x/b6bum3LW/
Now this is the exact same PA as above but with OBs.
Low swept, shift in MS and price comes back.
When you mix your ranges with demand/supply levels it becomes a bit easier to dictate direction.
https://www.tradingview.com/x/b6bum3LW/
The current cue ball situation.
Until the buyer arrives, one should not expect growth. This we will see in high volumes and most likely large wicks (shadows) near the candles down on large TFs (4h, 1d).
And now, a further decrease is relevant, I have canceled the nearest potential reversal zones on the chart, but I will look at the situation and let you know when I turn my attention to the long. At the moment, that short from 7500, which is already in the BU, is relevant.
PS 7300 retest is possible and further decline. We have also broken a local trend line, this is not very good news.
https://www.tradingview.com/x/pWMi3rz3/
Until the buyer arrives, one should not expect growth. This we will see in high volumes and most likely large wicks (shadows) near the candles down on large TFs (4h, 1d).
And now, a further decrease is relevant, I have canceled the nearest potential reversal zones on the chart, but I will look at the situation and let you know when I turn my attention to the long. At the moment, that short from 7500, which is already in the BU, is relevant.
PS 7300 retest is possible and further decline. We have also broken a local trend line, this is not very good news.
https://www.tradingview.com/x/pWMi3rz3/
Apart from Cryptocurrencies, what other markets would you want us to mash?
Anonymous Poll
28%
Stock Market
41%
Currencies (USD/GDP etc)
17%
Commodities
14%
Something I missed but it's a gold mine. DM
$BTC
Here is my high time frame chart that I’ve been playing.
It’s good to hunt setups early on in a range that’s when you get the highest RR.
As you can see:
One one side we have a low form, a deviate and a retest for a long.
Take it back to the other side of the range where you have a deviation above the high that formed and a retest for a short and take back.
As of now we pretty much just have noise and a lot of chop inbetween until we form or clear some fresh levels.
https://www.tradingview.com/x/SHJp9ffC/
Here is my high time frame chart that I’ve been playing.
It’s good to hunt setups early on in a range that’s when you get the highest RR.
As you can see:
One one side we have a low form, a deviate and a retest for a long.
Take it back to the other side of the range where you have a deviation above the high that formed and a retest for a short and take back.
As of now we pretty much just have noise and a lot of chop inbetween until we form or clear some fresh levels.
https://www.tradingview.com/x/SHJp9ffC/
🎓 Spot Trade 🎓
🎓 $BEAM / BTC - View Chart
🔸Signal Info: Beam
Rank: #113
Exchange: Binance
Direction: LONG
🔸Status: Limit order set.
🔸Analysis: Beam is a hyping coin right now, and it's receiving a fair share of volume all around. 34mil USD reported by CMC for the day. Over 26mil USD of that volume is on Hotbit.
Besides all that, the coin is breaking levels. These have been crossed before. Often testing the horizontal of the lower flat wedge. Ultimately it came down to test and hold the trendline up and remains bullish.
Not much history to draw from on this Binance chart yet, so I plotted the Fib on the most recent retracement wave, even though the wedge we are trading was formed before. Price just pegged the 0.618 Fib securing a new 24 day high.
🔸Current Price: 0.0008020
Entry: 0.00007980, 0.00007720
Targets: 0.00008950, 0.0001045, Open
Exit: 0.00007380 (6%)
🎓 $BEAM / BTC - View Chart
🔸Signal Info: Beam
Rank: #113
Exchange: Binance
Direction: LONG
🔸Status: Limit order set.
🔸Analysis: Beam is a hyping coin right now, and it's receiving a fair share of volume all around. 34mil USD reported by CMC for the day. Over 26mil USD of that volume is on Hotbit.
Besides all that, the coin is breaking levels. These have been crossed before. Often testing the horizontal of the lower flat wedge. Ultimately it came down to test and hold the trendline up and remains bullish.
Not much history to draw from on this Binance chart yet, so I plotted the Fib on the most recent retracement wave, even though the wedge we are trading was formed before. Price just pegged the 0.618 Fib securing a new 24 day high.
🔸Current Price: 0.0008020
Entry: 0.00007980, 0.00007720
Targets: 0.00008950, 0.0001045, Open
Exit: 0.00007380 (6%)
🎓 #SmashingWatchlist 🎓
▪️ $XEM ▪️ $ETC▪️$QTUM▪️$RLC▪️$WAVES▪️$STEEM ▪️
❄️ Ho Ho Ho, here we have our Smashing Holiday Watchlist. 👼 Let us make some cheerful Christmas profits for ourself and our families. 🎄 Happy trading this festive season! 🎅
PS: Any stops mentioned are not intended for margin positions. Preliminary entries marked out on the charts.
▪️ $XEM ▪️ $ETC▪️$QTUM▪️$RLC▪️$WAVES▪️$STEEM ▪️
❄️ Ho Ho Ho, here we have our Smashing Holiday Watchlist. 👼 Let us make some cheerful Christmas profits for ourself and our families. 🎄 Happy trading this festive season! 🎅
PS: Any stops mentioned are not intended for margin positions. Preliminary entries marked out on the charts.