Forwarded from Plutus Capital
NEO's price has been skyrocketing constantly even as most of the marker plummets. This is because of the Flamingo Finance being launched on the NEO platform.
These things happen all the time and at the end of the day, price tends to reset back to its starting point. We think NEO is already priced in.
Looking at the weekly chart (left), we can see how RSI is positioned in relation to price. We have almost 2 days to weekly close and we expect NEO to have retraced back under $22.
After that we expect price to continue lower to $16.75 and eventually drop through support to $12.
On the 8H chart (right), we're seeing price in an ascending channel and price looks to be topped out. We'll be taking a low-medium risk short here.
For a much conservative short entry, you can wait for a close below $22. So far we think NEO will provide more profit in short as it has much more declining to do.
https://www.tradingview.com/x/4mnmoha7/
These things happen all the time and at the end of the day, price tends to reset back to its starting point. We think NEO is already priced in.
Looking at the weekly chart (left), we can see how RSI is positioned in relation to price. We have almost 2 days to weekly close and we expect NEO to have retraced back under $22.
After that we expect price to continue lower to $16.75 and eventually drop through support to $12.
On the 8H chart (right), we're seeing price in an ascending channel and price looks to be topped out. We'll be taking a low-medium risk short here.
For a much conservative short entry, you can wait for a close below $22. So far we think NEO will provide more profit in short as it has much more declining to do.
https://www.tradingview.com/x/4mnmoha7/
Forwarded from Plutus Capital
By now it should be clear that one of the most important thing about trading is risk management and there is nothing wonderful than to have a setup that has a good risk/reward ratio. We have 2 setups for BTC short. Both go into effect after 4H closes and not before.
In the first setup, we have BTC right under 4H resistance of $11000 and above 4H support of $10700. This is a much aggressive short entry but we are only risking less than 1% and aiming for a potential of 9% profit.
Price broke down from the rising wedge, and then did a bearish retest at $11000. We're expecting at least $10700 to be touched.
In the second short setup, short will be entered after a 4H close below the green support zone ($10670 - $10720). After that a short will be entered with eyes on $9950. We will be risking 1.2% and aiming for a potential of 6.8% profit.
In addition, RSI has started a downtrend and if this is maintained, the drop should be aggressive. Shorts are only entered after 4H closes. We could still go up a bit to $11200 so only enter short after 4H closes.
https://www.tradingview.com/x/XjS8zEWC/
In the first setup, we have BTC right under 4H resistance of $11000 and above 4H support of $10700. This is a much aggressive short entry but we are only risking less than 1% and aiming for a potential of 9% profit.
Price broke down from the rising wedge, and then did a bearish retest at $11000. We're expecting at least $10700 to be touched.
In the second short setup, short will be entered after a 4H close below the green support zone ($10670 - $10720). After that a short will be entered with eyes on $9950. We will be risking 1.2% and aiming for a potential of 6.8% profit.
In addition, RSI has started a downtrend and if this is maintained, the drop should be aggressive. Shorts are only entered after 4H closes. We could still go up a bit to $11200 so only enter short after 4H closes.
https://www.tradingview.com/x/XjS8zEWC/
Forwarded from Plutus Capital
Similar setup with ETH on the 4H chart. We will be risking less for more. Once again, shorts should be entered only after 4H closes below the indicated levels.
In the first setup, we're seeing price breakdown after deviating above $383.20. If we get a 4H close again below here, we can make an aggressive entry with stop loss at $386.15 (-1.44%). We have eyes on a potential +12.18% profit if the setup plays out.
With the conservative short setup, we only enter short after 4H closes below $374.45 with stop loss at $383.75 (-2.48%). And then we will be having eyes on a potential +10.72% profit if the setup plays out.
Once again, it's all about maximising profit and minimizing risk. ETH also has a bearish divergence on the 4H, however, these can be invalidated easily, hence why we need to wait for the 4H closes.
https://www.tradingview.com/x/ZImkjzIX/
In the first setup, we're seeing price breakdown after deviating above $383.20. If we get a 4H close again below here, we can make an aggressive entry with stop loss at $386.15 (-1.44%). We have eyes on a potential +12.18% profit if the setup plays out.
With the conservative short setup, we only enter short after 4H closes below $374.45 with stop loss at $383.75 (-2.48%). And then we will be having eyes on a potential +10.72% profit if the setup plays out.
Once again, it's all about maximising profit and minimizing risk. ETH also has a bearish divergence on the 4H, however, these can be invalidated easily, hence why we need to wait for the 4H closes.
https://www.tradingview.com/x/ZImkjzIX/
Forwarded from Plutus Capital
We haven't looked at an alt paired against BTC in a while now. Today we look at ETH/BTC. We think this one has some very nice bullish potential, but it comes with some about -25% drop first.
ETH/BTC has been doing very well in the past few weeks but it looks very well like bulls are exhausted and a much deeper correction is to happen.
The last time we hit weekly resistance at 0.037 on ETH/BTC was February of 2019, we tested the weekly support at 0.027 and drop through. This time it's possible we will hold thereby forming an inverse head and shoulders pattern.
We're at resistance again and seeing the unsuccessful attempts to break the resistance and how RSI has started heading down, we expect the pair to fall soon back to support before finally coming back up to break resistance.
Clearly some assets are still good investment options. We'll be shorting ETH/BTC down to support and probably look to long any strength back up to 0.055
https://www.tradingview.com/x/auaTKEYt/
ETH/BTC has been doing very well in the past few weeks but it looks very well like bulls are exhausted and a much deeper correction is to happen.
The last time we hit weekly resistance at 0.037 on ETH/BTC was February of 2019, we tested the weekly support at 0.027 and drop through. This time it's possible we will hold thereby forming an inverse head and shoulders pattern.
We're at resistance again and seeing the unsuccessful attempts to break the resistance and how RSI has started heading down, we expect the pair to fall soon back to support before finally coming back up to break resistance.
Clearly some assets are still good investment options. We'll be shorting ETH/BTC down to support and probably look to long any strength back up to 0.055
https://www.tradingview.com/x/auaTKEYt/
Forwarded from Plutus Capital
ETH is still in the ascending channel but it looks like the breakdown can happen at anytime from now.
We might see price drop to $360 first, before a follow-up drop to $320. We're still at resistance and it looks like we can't breakthrough.
https://www.tradingview.com/x/yt5xn4EF/
We might see price drop to $360 first, before a follow-up drop to $320. We're still at resistance and it looks like we can't breakthrough.
https://www.tradingview.com/x/yt5xn4EF/
Forwarded from Plutus Capital
LINK facing another resistance on the 8H. Considering how curved up the RSI is, it's possible we go up a bit to $11 before dropping into our green box at $7 - $8.
If not and the selling pressure is too much, we can just start falling from here without reaching $11. All the same, LINK is still bearish until we get at least daily close above $11.
https://www.tradingview.com/x/RGyrGjh9/
If not and the selling pressure is too much, we can just start falling from here without reaching $11. All the same, LINK is still bearish until we get at least daily close above $11.
https://www.tradingview.com/x/RGyrGjh9/
Forwarded from Plutus Capital
YFII is not looking all too bad. It's at a critical point. Price is in a falling wedge which is mostly a bullish pattern.
If price is able to manage a breakout and close above $4160, then we can expect price to continue up to $5000.
However, in the event where price continues sideways under $4160 thereby moving out of the falling wedge, then price will likely drop and break $3593 support with eyes on $3230.
https://www.tradingview.com/x/o9PZOQ8x/
If price is able to manage a breakout and close above $4160, then we can expect price to continue up to $5000.
However, in the event where price continues sideways under $4160 thereby moving out of the falling wedge, then price will likely drop and break $3593 support with eyes on $3230.
https://www.tradingview.com/x/o9PZOQ8x/
#LTCUSD
Here is the newest EW count for Litecoin. White resistance trend line is the key resistance here. As long as the price is still trending at current range and below the white resistance trend line, it's not the time to enter the market. But breaking out of this resistance trend line, will gain a momentum to test $56 range as well.
Here is the newest EW count for Litecoin. White resistance trend line is the key resistance here. As long as the price is still trending at current range and below the white resistance trend line, it's not the time to enter the market. But breaking out of this resistance trend line, will gain a momentum to test $56 range as well.
I very interesting though by RoseCrypto (@rosecryptochannel)
2017 - 2020 Same patterns - Bitcoin - ETH - Defi - ICO
History repeats itself
✳️ Green stage: ETH growth, DEFI craze, ICO craze, BTC sideway. BTC dominance drops, Altcoin season (especially for Defi/Ico projects)
🔴 Red stage: BTC bullrun, ETH correction, ICO/DEFI crash, BTC dominance going up.
At this stage:
BTC pump, Alts down
BTC dump, Alts down
Except for Few old projects.
🚺 Pink stage:
BTC top out
A new altcoins season happen.
2017 - 2020 Same patterns - Bitcoin - ETH - Defi - ICO
History repeats itself
✳️ Green stage: ETH growth, DEFI craze, ICO craze, BTC sideway. BTC dominance drops, Altcoin season (especially for Defi/Ico projects)
🔴 Red stage: BTC bullrun, ETH correction, ICO/DEFI crash, BTC dominance going up.
At this stage:
BTC pump, Alts down
BTC dump, Alts down
Except for Few old projects.
🚺 Pink stage:
BTC top out
A new altcoins season happen.
Forwarded from Plutus Capital
Here is RUNE and as expected the head and shoulders pattern played out.
Price broke the neckline of the head and shoulders pattern (HS), tapped the $0.475 support level, went back up to test the HS neckline as resistance and then finally broke below $0.475.
It's not about we being bearish, it's about what the chart is saying. As a technical analyst you need to not be attached to any asset in any direction. That way you'll be objective.
RUNE like many assets on the market has made a new low and until we close above $0.55, this is a high risk investment asset.
https://www.tradingview.com/x/UTgDRFM1/
Price broke the neckline of the head and shoulders pattern (HS), tapped the $0.475 support level, went back up to test the HS neckline as resistance and then finally broke below $0.475.
It's not about we being bearish, it's about what the chart is saying. As a technical analyst you need to not be attached to any asset in any direction. That way you'll be objective.
RUNE like many assets on the market has made a new low and until we close above $0.55, this is a high risk investment asset.
https://www.tradingview.com/x/UTgDRFM1/
Forwarded from Plutus Capital
Still going as planned for ETH. We finally broke down from the rising channel. What we want to see is a touch of the green support.
After the green support we want to see price test $365 as resistance and then fall through to $330.
https://www.tradingview.com/x/pzEgFmGN/
After the green support we want to see price test $365 as resistance and then fall through to $330.
https://www.tradingview.com/x/pzEgFmGN/
Forwarded from Plutus Capital
Seems like HOT/USD is fond of these head and shoulders patterns. Early this year we formed one that led to a -70% dump.
We've formed a similar pattern here and looks like we're headed back to 0.00035. We're looking at a -35% drop.
https://www.tradingview.com/x/k61soBgX/
We've formed a similar pattern here and looks like we're headed back to 0.00035. We're looking at a -35% drop.
https://www.tradingview.com/x/k61soBgX/
Forwarded from Wolf Crypto News
A dose of Bitcoin from OnePoint
https://www.tradingview.com/x/A7JNmz6G/
Bitcoin : Perspective on the hourly time frame
Hello all, Happy Monday and it's a good day to start the week. Last week, the price has touched the $11000 zone before it's getting rejected to the $10800 ish region. The weekly candle has closed with a huge green candle after last week's doji candle which gives us a good indication. So, how will it be on the short term?
On the short term, the price is coming closer to the minor support zone at the $10800 ish. We have seen some sign of bounce from this zone with a type of long wick candle as the rejection sign toward lower region as well. If you take a closer look at this area, there are a possible sign of parallel channel to form during this pattern.
Another significant thing that we need to see the RSI indicator here where it prints another potential hidden bullish divergence on this 2 hours time frame which indicates a potential upside continuation. I feel like the price can go higher to test the $11500 region on short term to complete the X wave before we see further drop that we anticipated before as the Y wave.
https://www.tradingview.com/x/A7JNmz6G/
Bitcoin : Perspective on the hourly time frame
Hello all, Happy Monday and it's a good day to start the week. Last week, the price has touched the $11000 zone before it's getting rejected to the $10800 ish region. The weekly candle has closed with a huge green candle after last week's doji candle which gives us a good indication. So, how will it be on the short term?
On the short term, the price is coming closer to the minor support zone at the $10800 ish. We have seen some sign of bounce from this zone with a type of long wick candle as the rejection sign toward lower region as well. If you take a closer look at this area, there are a possible sign of parallel channel to form during this pattern.
Another significant thing that we need to see the RSI indicator here where it prints another potential hidden bullish divergence on this 2 hours time frame which indicates a potential upside continuation. I feel like the price can go higher to test the $11500 region on short term to complete the X wave before we see further drop that we anticipated before as the Y wave.
Forwarded from Plutus Capital
Public Request (DOT/USDT)
Our first request is for DOT/USDT. Polkadot is an asset we shorted on August 27th and made good profit.
Looking at the 8H chart, it looks like we will be revisiting the second green support zone. It looks like we're forming the right shoulder of a potential head and shoulders pattern.
We have very immediate resistance at $4.77 which is pushing price down. We expect price to drop into the 1st green support zone, consolidate a bit to finish forming the right shoulder of the HS and then dump to $2.8 - $3.2.
RSI on the 8H is curving down, which means the selling pressure is very much active. Shorts should only be considered for DOT until price is able to close 8H above $4.77.
https://www.tradingview.com/x/5aBPQ70k/
Our first request is for DOT/USDT. Polkadot is an asset we shorted on August 27th and made good profit.
Looking at the 8H chart, it looks like we will be revisiting the second green support zone. It looks like we're forming the right shoulder of a potential head and shoulders pattern.
We have very immediate resistance at $4.77 which is pushing price down. We expect price to drop into the 1st green support zone, consolidate a bit to finish forming the right shoulder of the HS and then dump to $2.8 - $3.2.
RSI on the 8H is curving down, which means the selling pressure is very much active. Shorts should only be considered for DOT until price is able to close 8H above $4.77.
https://www.tradingview.com/x/5aBPQ70k/
Forwarded from Plutus Capital
Public Request (GOLD - XAU/USD)
Even though we've already analyzed Gold, it's great to go back to the chart and see if our bearish idea is still valid.
We've been bearing for some time now on Gold and even shorting it and the current chart makes the bearish idea still stand.
After dropping briefly below $1930, price climbed up to $1955 and once again we another deviation above this resistance.
Now price is back below $1955 and as long as we keep closing under it, we should be breaking down to $1910, then $1880, and then finally $1810.
Looks like we're even forming an HS on the 8H chart. If this 8H candle closes below $1950, we should see $1930 soon.
https://www.tradingview.com/x/zZgOYstw/
Even though we've already analyzed Gold, it's great to go back to the chart and see if our bearish idea is still valid.
We've been bearing for some time now on Gold and even shorting it and the current chart makes the bearish idea still stand.
After dropping briefly below $1930, price climbed up to $1955 and once again we another deviation above this resistance.
Now price is back below $1955 and as long as we keep closing under it, we should be breaking down to $1910, then $1880, and then finally $1810.
Looks like we're even forming an HS on the 8H chart. If this 8H candle closes below $1950, we should see $1930 soon.
https://www.tradingview.com/x/zZgOYstw/
Forwarded from Plutus Capital
Public Request (BLZ/USDT)
In our opinion, BLZ should be avoided at all cost until price is able to close weekly above $0.181.
For now we see a very bearish chart that has price heading for $0.05 - $0.065 green support zone. The past few weeks has been bearish for BLZ and we expect an even aggressive drop in the coming weeks.
We're looking at a drop of between -35% to -50%. After that we'll probably see price bounce.
There is a general trend in the market - most assets that have pumped over 100% this year are retracing. BLZ has rallied a whooping +2900% this year alone.
So if price is retracing, it's a healthy thing as long as we are able to hold above key support areas to help price continue up after a good consolidation.
For now BLZ is only good for shorting. Investments should be put on hold until we reach support. This is a high risk investment asset now.
https://charts.cointrader.pro/snapshot/bR6lG
In our opinion, BLZ should be avoided at all cost until price is able to close weekly above $0.181.
For now we see a very bearish chart that has price heading for $0.05 - $0.065 green support zone. The past few weeks has been bearish for BLZ and we expect an even aggressive drop in the coming weeks.
We're looking at a drop of between -35% to -50%. After that we'll probably see price bounce.
There is a general trend in the market - most assets that have pumped over 100% this year are retracing. BLZ has rallied a whooping +2900% this year alone.
So if price is retracing, it's a healthy thing as long as we are able to hold above key support areas to help price continue up after a good consolidation.
For now BLZ is only good for shorting. Investments should be put on hold until we reach support. This is a high risk investment asset now.
https://charts.cointrader.pro/snapshot/bR6lG
charts.cointrader.pro
CoinTrader.Pro Chart Viewer
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Forwarded from Plutus Capital
Public Request (XTZ/USDT)
XTZ is one asset we've been shorting on Phemex and didn't want to mention it but someone wants an analysis done on it.
After forming a bearish divergence on the weekly chart, XTZ became bearish and started dropping. Weekly support of $2.55 - $2.87 couldn't hold price and we've broken through. This was expected.
We're still shorting any significant bounces because based on the chart, price is heading for $1.5 - $1.67 (green support zone).
We've switched to the 3-day chart to gauge how the confirmation will work. We expect price to close 3D below $2.14 which will trigger the next dump phase to our final green zone.
We're looking at an extra -20% to -30% drop from here. The RSI hasn't formed any sort of bullish divergence so the possibility of falling is very high and as at this moment, XTZ is also a high risk investment asset.
Shorting is recommended.
XTZ is one asset we've been shorting on Phemex and didn't want to mention it but someone wants an analysis done on it.
After forming a bearish divergence on the weekly chart, XTZ became bearish and started dropping. Weekly support of $2.55 - $2.87 couldn't hold price and we've broken through. This was expected.
We're still shorting any significant bounces because based on the chart, price is heading for $1.5 - $1.67 (green support zone).
We've switched to the 3-day chart to gauge how the confirmation will work. We expect price to close 3D below $2.14 which will trigger the next dump phase to our final green zone.
We're looking at an extra -20% to -30% drop from here. The RSI hasn't formed any sort of bullish divergence so the possibility of falling is very high and as at this moment, XTZ is also a high risk investment asset.
Shorting is recommended.
Forwarded from Plutus Capital
Public Request (FET/USDT)
FET looks similar to many of the charts we've been looking at. Weekly is in a downtrend and it seems eyes are set on $0.037 - $0.045 green support.
We just closed the weekly right at the $0.066 without any bounce which means this support has failed. We should consolidate in the green region and if the bearish pressure is high, we may see wicks into the blue zone.
If you're invested in FET, then recommended to cut losses. This is because we're looking at a potential -40% drop from here to the green zone.
After that, the market will decide whether the asset is worth buying or not. Many assets die out and FET could be part.
So better to cut losses here, wait for price to drop and if the consolidation looks bullish, re-enter. For now, FET/USDT is a high risk investment asset.
Shorts are recommended.
https://www.tradingview.com/x/8HnlcMkY/
FET looks similar to many of the charts we've been looking at. Weekly is in a downtrend and it seems eyes are set on $0.037 - $0.045 green support.
We just closed the weekly right at the $0.066 without any bounce which means this support has failed. We should consolidate in the green region and if the bearish pressure is high, we may see wicks into the blue zone.
If you're invested in FET, then recommended to cut losses. This is because we're looking at a potential -40% drop from here to the green zone.
After that, the market will decide whether the asset is worth buying or not. Many assets die out and FET could be part.
So better to cut losses here, wait for price to drop and if the consolidation looks bullish, re-enter. For now, FET/USDT is a high risk investment asset.
Shorts are recommended.
https://www.tradingview.com/x/8HnlcMkY/