Plutus Capital
Our Daily rising channel for BTC is still intact. Price touched the mid-line and dumped over $200 instantly. We believe the top may be officially in we begin the journey to as low as $8500. All our shorts have been filled between $10400 and $10600 with most…
Take a scroll up and look at all the short orders we set.
Alberto back at it
https://www.tradingview.com/x/Sj0iuupB/
Bitcoin : 3 important things to watch (TA perspective)
Another choppiness and another consolidation type of pattern on the bitcoin's price movement. Earlier this morning, we've seen a push toward the $10500 and right at the white resistance zone which is now becoming a strong resistance zone. During this consolidation phase, I'll show you 3 important things we need to be aware of in this chart.
1. White resistance trend line
At first time, I'll always start with the most crucial things on this current market structure. It's the white resistance trend line which has been broken out since the early October. I see this as an important trend line because since the break out event which I consider this as the first phase of my break out strategy, we haven't seen any sign of retesting this broken resistance as a support which is the phase 2. Based on my valuation, we can see a potential retest zone at the blue region if we consider the price action in the historical data. That's why at first deduction, I highly recommend you to save some of your fund to accumulate more at this zone which is around $10800 - $10500.
2. Assuming parallel channel
If we assume the parallel channel, we can find an important and valuable uptrend channel here. It shows us the representation of the bulls which is now gaining any strength. We see a rejection point right at the upper line of this parallel channel and we see the rejection point toward the support at the median line of the channel which is becoming the support trend line for now. What makes this parallel channel more important is that if the price can breaks below this median line, we can see further push toward the lower line of this channel which is moving in alignment with the blue region which I've covered on the first point.
3. Green dotted line
This green dotted line is also crucial as it was a broken horizontal line after the long consolidation from August - September 2020. After a break down, we see the first retest at September 19th and it also got rejected. But, at the 2nd test toward this resistance, the price is able to break this horizontal line. However, at current condition, the price is still trending above this horizontal support which we can consider this as the crucial point too.
https://www.tradingview.com/x/Sj0iuupB/
Bitcoin : 3 important things to watch (TA perspective)
Another choppiness and another consolidation type of pattern on the bitcoin's price movement. Earlier this morning, we've seen a push toward the $10500 and right at the white resistance zone which is now becoming a strong resistance zone. During this consolidation phase, I'll show you 3 important things we need to be aware of in this chart.
1. White resistance trend line
At first time, I'll always start with the most crucial things on this current market structure. It's the white resistance trend line which has been broken out since the early October. I see this as an important trend line because since the break out event which I consider this as the first phase of my break out strategy, we haven't seen any sign of retesting this broken resistance as a support which is the phase 2. Based on my valuation, we can see a potential retest zone at the blue region if we consider the price action in the historical data. That's why at first deduction, I highly recommend you to save some of your fund to accumulate more at this zone which is around $10800 - $10500.
2. Assuming parallel channel
If we assume the parallel channel, we can find an important and valuable uptrend channel here. It shows us the representation of the bulls which is now gaining any strength. We see a rejection point right at the upper line of this parallel channel and we see the rejection point toward the support at the median line of the channel which is becoming the support trend line for now. What makes this parallel channel more important is that if the price can breaks below this median line, we can see further push toward the lower line of this channel which is moving in alignment with the blue region which I've covered on the first point.
3. Green dotted line
This green dotted line is also crucial as it was a broken horizontal line after the long consolidation from August - September 2020. After a break down, we see the first retest at September 19th and it also got rejected. But, at the 2nd test toward this resistance, the price is able to break this horizontal line. However, at current condition, the price is still trending above this horizontal support which we can consider this as the crucial point too.
Forwarded from Glassnode
Prior to the suspension of cryptocurrency withdrawals from #OKEx, we observed large BTC outflows from the exchange.
According to our data, a total of 10,000 BTC (~$113 million USD) were withdrawn in two large batches in the past 48 hours.
#Bitcoin
Live chart | @glassnode
According to our data, a total of 10,000 BTC (~$113 million USD) were withdrawn in two large batches in the past 48 hours.
#Bitcoin
Live chart | @glassnode
Forwarded from Plutus Capital
In 14 days we'll have another monthly close and so far we've seen that bears are doing a good job at keeping price in the green MUST HOLD support zone.
Like we established before, LTC has the potential of falling about -88% from here if we don't hold that support. -88% puts us at $4.6.
The first word to pop up in many people's mind is "impossible". Well, it's very possible for this to happen and even BTC may support that idea (we'll look at that next).
The reality is that lots of institutional investors and big players got into LTC when price was really low and they'd like nothing but to be able to load up more even lower.
These guys are very patient unlike the many crypto folks you see who are always in a haste. Crypto is not their primary means of survival so these big players know how to wait it out (look at stocks).
As a trader/investor, you have to be prepared for any event and so far the charts are pointing to a massive incoming down move. In the long run we should see very higher prices but first we may dip very low.
If LTC doesn't hit $4.6, then bulls will have to step in at $11. That's the nearest best possible support. Now let's look at BTC (Get ready!).
https://www.tradingview.com/x/MjoeipTS/
Like we established before, LTC has the potential of falling about -88% from here if we don't hold that support. -88% puts us at $4.6.
The first word to pop up in many people's mind is "impossible". Well, it's very possible for this to happen and even BTC may support that idea (we'll look at that next).
The reality is that lots of institutional investors and big players got into LTC when price was really low and they'd like nothing but to be able to load up more even lower.
These guys are very patient unlike the many crypto folks you see who are always in a haste. Crypto is not their primary means of survival so these big players know how to wait it out (look at stocks).
As a trader/investor, you have to be prepared for any event and so far the charts are pointing to a massive incoming down move. In the long run we should see very higher prices but first we may dip very low.
If LTC doesn't hit $4.6, then bulls will have to step in at $11. That's the nearest best possible support. Now let's look at BTC (Get ready!).
https://www.tradingview.com/x/MjoeipTS/
Forwarded from Plutus Capital
This is the biggest picture for BTC so far which we're going to address. We are bullish on BTC in the long term, we see price hitting $400k per BTC in the near future but we're also traders and investors and we intend to prepare for any possible big down moves abd accumulate more BTC by shorting it.
This is the monthly chart for BTC. Price is a bit below $11500 which means we're still making lower highs in relation to topping out at $20,000.
Using the Fib tool, we can see how price has been respecting certain key areas as resistance and support. As it is clear by now, price mostly retraces about 61.8% of its move before continuing higher.
If $20,000 was really the very top, then we should expect the red path to play out and looking to catch BTC trading somewhere below $1000 soon, which will be 61.8% move of the move up from $152.
If $20,000 is not yet the top then we expect the top to be in around $400k per BTC which means $3000 MUST HOLD at all cost. This would be the 4th time we would be dropping into the $3000 zone which is not something very bullish.
For now we have our eyes on $6000 and above as our bearish target. If $6000 fails then we're looking at $3000, at $3000, we would have to be careful in longing BTC because it could fail. If we can push back up above $6000 from $3000, then the bottom is 100% in and we're heading straight for $400k.
It's difficult staying focused on the high time frame when so much is happening on the smaller time frames. Set an alarm to be checking the high time frame.
BTC is nothing without the USD and for now and in the next 10 to 30 years, we'll still be buying stuff with USD online. The goal is to accumulate BTC while maintaining the USD value of your holdings.
Don't hold 10 BTC which you bought at $10,000 (10 BTC = $100k) and wait for prive to fall down to even $3000 (10 BTC = $30k). However, if you can short, then at $3000, you could have about an extra 40 BTC which puts your total value at $150k because you'd now have 50 BTC.
Be a great trader/investor.
https://www.tradingview.com/x/RvdzJlNb/
This is the monthly chart for BTC. Price is a bit below $11500 which means we're still making lower highs in relation to topping out at $20,000.
Using the Fib tool, we can see how price has been respecting certain key areas as resistance and support. As it is clear by now, price mostly retraces about 61.8% of its move before continuing higher.
If $20,000 was really the very top, then we should expect the red path to play out and looking to catch BTC trading somewhere below $1000 soon, which will be 61.8% move of the move up from $152.
If $20,000 is not yet the top then we expect the top to be in around $400k per BTC which means $3000 MUST HOLD at all cost. This would be the 4th time we would be dropping into the $3000 zone which is not something very bullish.
For now we have our eyes on $6000 and above as our bearish target. If $6000 fails then we're looking at $3000, at $3000, we would have to be careful in longing BTC because it could fail. If we can push back up above $6000 from $3000, then the bottom is 100% in and we're heading straight for $400k.
It's difficult staying focused on the high time frame when so much is happening on the smaller time frames. Set an alarm to be checking the high time frame.
BTC is nothing without the USD and for now and in the next 10 to 30 years, we'll still be buying stuff with USD online. The goal is to accumulate BTC while maintaining the USD value of your holdings.
Don't hold 10 BTC which you bought at $10,000 (10 BTC = $100k) and wait for prive to fall down to even $3000 (10 BTC = $30k). However, if you can short, then at $3000, you could have about an extra 40 BTC which puts your total value at $150k because you'd now have 50 BTC.
Be a great trader/investor.
https://www.tradingview.com/x/RvdzJlNb/
Taking the weekend off.
Quick update before we start the next week. The Dollar seems very strong. as discussed in the earlier days the s&p500 and Bitcoin correlation is high. We can expect a few red candles if the dollar continues to creep higher.
Another interesting observation is with bonds market. The long term treasury bonds seem to appreciate every time the stock market it is about to take a nosedive. The bond market is where volumes are in trillions of dollars across the globe and this speaks about investor confidence in the markets. money pouring out of the stock market Bitcoin in gold usually ends up in the bond market or means in cash it wouldn't be surprising to see the dollar get stronger in the coming weeks. Fear and uncertainty among investors is going to rise as we neared the election date.
The general Trend could still turn either way. Second wave covid-19 cases in certain Nations has caused panic in in the markets and can greatly impact cryptocurrencies. I strongly recommend everyone to monitor all open position and always have a decent amount of your portfolio in cash to pounce on good entries.
Cheers 🥂
Another interesting observation is with bonds market. The long term treasury bonds seem to appreciate every time the stock market it is about to take a nosedive. The bond market is where volumes are in trillions of dollars across the globe and this speaks about investor confidence in the markets. money pouring out of the stock market Bitcoin in gold usually ends up in the bond market or means in cash it wouldn't be surprising to see the dollar get stronger in the coming weeks. Fear and uncertainty among investors is going to rise as we neared the election date.
The general Trend could still turn either way. Second wave covid-19 cases in certain Nations has caused panic in in the markets and can greatly impact cryptocurrencies. I strongly recommend everyone to monitor all open position and always have a decent amount of your portfolio in cash to pounce on good entries.
Cheers 🥂
Forwarded from Plutus Capital
These are the patterns you need to be looking for in order to be able to take short positions if you missed the top.
BTC price is moving up gradually but in a rising wedge which is a bearish pattern. The idea is to take very low risk trades like this one where you have a shorting range of $10450 - $10525.
With stop loss above the previous high, we're looking at risking either -1.6% or -1.07% for a potential profit of either +5.24% or +5.75%.
Always trade the patterns and patiently wait for the chart to convince you of a high probability direction. There will be many opportunities to take trades.
The aim is to minimize risk whiles maximising profit.
https://www.tradingview.com/x/srPxlmHF/
BTC price is moving up gradually but in a rising wedge which is a bearish pattern. The idea is to take very low risk trades like this one where you have a shorting range of $10450 - $10525.
With stop loss above the previous high, we're looking at risking either -1.6% or -1.07% for a potential profit of either +5.24% or +5.75%.
Always trade the patterns and patiently wait for the chart to convince you of a high probability direction. There will be many opportunities to take trades.
The aim is to minimize risk whiles maximising profit.
https://www.tradingview.com/x/srPxlmHF/
Forwarded from Plutus Capital
The Filecoin chart (FIL/USD) is showing some very disturbing price data. Price is down -75% already from a high of about $125.
Clearly the market agrees that the asset is overvalued and to make matters worse, many miners including five of its largest miners are on strike and have turned off their mining machines because the economic model is unfair and requires a huge amount of FIL tokens to start mining operations (source).
With price currently trading around $30, it certainly is expensive for miners to turn on their machines to start operating after the mainnet launch on 15th October.
Technically speaking, price has eyes on $15 which is about -50% drop from current prices. Even by then, we still think prices may be too expensive, both technically and for miners.
FIL may see some buyers when we drop down to around $6.5 - $7 (another -78% drop). By then we think price may be cheap enough for miners to buy in order to properly start operations.
FIL is deemed a very risky investment asset, it is recommended for it to be avoided or shorts recommended until we reach $15 or $7.
Clearly the market agrees that the asset is overvalued and to make matters worse, many miners including five of its largest miners are on strike and have turned off their mining machines because the economic model is unfair and requires a huge amount of FIL tokens to start mining operations (source).
With price currently trading around $30, it certainly is expensive for miners to turn on their machines to start operating after the mainnet launch on 15th October.
Technically speaking, price has eyes on $15 which is about -50% drop from current prices. Even by then, we still think prices may be too expensive, both technically and for miners.
FIL may see some buyers when we drop down to around $6.5 - $7 (another -78% drop). By then we think price may be cheap enough for miners to buy in order to properly start operations.
FIL is deemed a very risky investment asset, it is recommended for it to be avoided or shorts recommended until we reach $15 or $7.
charts.cointrader.pro
CoinTrader.Pro Chart Viewer
charts.cointrader.pro allows you to make TradingView charts of all possible cryptocurrencies for free.
Forwarded from Plutus Capital
Even though it wasn't posted here after BTC short trade was posted, we took short trades on ETH and LTC too. We've been shorting higher but added some more yesterday. If you've been following then you know these three almost always move together.
Posting it now because ETH broke below its rising wedge too and seem to be doing a bearish retest. It's not too late to make an entry.
We sometimes delay in posting trade setups because we have to give priority to Whale Clients.
https://www.tradingview.com/x/nno75ake/
Posting it now because ETH broke below its rising wedge too and seem to be doing a bearish retest. It's not too late to make an entry.
We sometimes delay in posting trade setups because we have to give priority to Whale Clients.
https://www.tradingview.com/x/nno75ake/
Forwarded from Plutus Capital
We mentioned entering short for LTC at $51 on October 13th after entering short for BTC around $11600 and ETH around $385.
Since then, LTC is down -7%. The price indeed did broke down from the rising wedge after it got stopped at $51 horizontal resistance.
This is the 3rd time LTC has been rejected from the $51 horizontal resistance.
After $36 target, we expect the next stop for LTC to be $11 and then $4.6 (most bearish scenario).
https://www.tradingview.com/x/r2XBd9og/
Since then, LTC is down -7%. The price indeed did broke down from the rising wedge after it got stopped at $51 horizontal resistance.
This is the 3rd time LTC has been rejected from the $51 horizontal resistance.
After $36 target, we expect the next stop for LTC to be $11 and then $4.6 (most bearish scenario).
https://www.tradingview.com/x/r2XBd9og/
Forwarded from Plutus Capital
Another reason why we're confident in seeing LTC drop again is this bearish pennant pattern formed on the 2H time frame.
These sort of patterns are bearish continuation patterns. Price dumps in a vertical way, consolidates in a symmetrical triangle and then continues the dump, and that's what we're seeing on the LTC chart.
It also looks like we might be forming a head and shoulders pattern but it's not reliable at this moment. For now, LTC still looks bearish until price manages to climb above $51.
https://www.tradingview.com/x/v5b9x3x4/
These sort of patterns are bearish continuation patterns. Price dumps in a vertical way, consolidates in a symmetrical triangle and then continues the dump, and that's what we're seeing on the LTC chart.
It also looks like we might be forming a head and shoulders pattern but it's not reliable at this moment. For now, LTC still looks bearish until price manages to climb above $51.
https://www.tradingview.com/x/v5b9x3x4/
Bitcoin is in my sell zone ! ( Weekly resistance )
https://www.tradingview.com/x/F7zLnNqx/
PS: Here's a chart from my mentor and the baddest trader I have ever come across. You need to give him a watch. I personally do.
This channel is all you need. Run by the two kick-ass money makers from stonks now in crypto.
Link
https://www.tradingview.com/x/F7zLnNqx/
PS: Here's a chart from my mentor and the baddest trader I have ever come across. You need to give him a watch. I personally do.
This channel is all you need. Run by the two kick-ass money makers from stonks now in crypto.
Link
Forwarded from Plutus Capital
Got stopped on the previous short with a -1.5% loss. However, we're still in our main swing short and invalidation is a daily close above $11960.
If we manage a daily close above $11960, we will close our shorts and flip to longing with eyes on $15,000 - $16,000.
With so many CME gaps below and price back at resistance with a possible bearish divergence formed on the daily chart, we're still very much bearish.
We will be watching for the opportunity to take another low risk short.
https://www.tradingview.com/x/ft1i6zSK/
If we manage a daily close above $11960, we will close our shorts and flip to longing with eyes on $15,000 - $16,000.
With so many CME gaps below and price back at resistance with a possible bearish divergence formed on the daily chart, we're still very much bearish.
We will be watching for the opportunity to take another low risk short.
https://www.tradingview.com/x/ft1i6zSK/
The drama has just begun.
Forwarded from Cointelegraph
Filecoin creator denies strike allegations
“Miners are following the protocol, and making a ton of money doing so,” said Juan Benet on Twitter.
https://ct.com/91hp
“Miners are following the protocol, and making a ton of money doing so,” said Juan Benet on Twitter.
https://ct.com/91hp
Forwarded from WinXSell_VIP
Attention Traders :
🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨
I just noticed a bullish inverted H&S on BTC chart and Im going to share it with our members .
Neckline is broken on this pattern and this indicates bulls can take the price to higher levels . I’m still going to stick to my prediction and hold my $11800 short with the money that I can afford to lose and follow the swing call until we close above resistance before going bullish . please stay out of trades you have a small account or go in USD and wait a few days ! You can also hold your BTC if you are a believer . I’m a trader so I always have BTC to trade , but again this isn’t a zone for high leverage trading . This is what we call choppy waters . You know we always make good leverage calls and hit our targets but now I feel responsible to notify all members before any breakout ! I give you the options and you choose . Good luck and please don’t get rekt !
I’m bearish below $12001 close !
https://www.tradingview.com/x/ACREDQ6g/
🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨🚨
I just noticed a bullish inverted H&S on BTC chart and Im going to share it with our members .
Neckline is broken on this pattern and this indicates bulls can take the price to higher levels . I’m still going to stick to my prediction and hold my $11800 short with the money that I can afford to lose and follow the swing call until we close above resistance before going bullish . please stay out of trades you have a small account or go in USD and wait a few days ! You can also hold your BTC if you are a believer . I’m a trader so I always have BTC to trade , but again this isn’t a zone for high leverage trading . This is what we call choppy waters . You know we always make good leverage calls and hit our targets but now I feel responsible to notify all members before any breakout ! I give you the options and you choose . Good luck and please don’t get rekt !
I’m bearish below $12001 close !
https://www.tradingview.com/x/ACREDQ6g/
Picked up an entry on #DASH.
Worth allocating 2% of portfolio.
Worth allocating 2% of portfolio.