Forwarded from Plutus Capital
BTC Analysis (Part 5): 3D Bearish Divergence & Rising Channel
Now we come to one of our favorite charts - the 3-Day. At a glance, we can see that price is trading at the resistance of the rising channel we spoke about some weeks back, which means the idea that we will break down from the channel is valid.
One thing bulls should be concerned about is the various bearish confluence on the 3D chart. First off, we have a bearish divergence in relation to the RSI.
Additionally we can also see that price has interacted with an old uptrend line which is now serving as resistance. The bearish confluence is just too much and caution needs to be taken here.
In conclusion, we have bearish divergence, uptrend now as resistance, and a rising channel (bearish pattern). This indicates thay price may be due for a correction to the nearest 3D support at $12274.
https://www.tradingview.com/x/rEuZVNzU/
Now we come to one of our favorite charts - the 3-Day. At a glance, we can see that price is trading at the resistance of the rising channel we spoke about some weeks back, which means the idea that we will break down from the channel is valid.
One thing bulls should be concerned about is the various bearish confluence on the 3D chart. First off, we have a bearish divergence in relation to the RSI.
Additionally we can also see that price has interacted with an old uptrend line which is now serving as resistance. The bearish confluence is just too much and caution needs to be taken here.
In conclusion, we have bearish divergence, uptrend now as resistance, and a rising channel (bearish pattern). This indicates thay price may be due for a correction to the nearest 3D support at $12274.
https://www.tradingview.com/x/rEuZVNzU/
Market Cap analysis by Alberto
https://www.tradingview.com/x/31VQFGvv/
Market capitalization is approaching key level
Last week has became a huge turning point for bitcoin which the price has already surged for more than 15% since its open on the early week. This upside moves is the direct effect because of the many good news that has occurred lately in the market. The biggest news we have seen was the Paypal decision to enable the buy and sell cryptocurrency on its platform. This news however has became the interest point for most of investors to put their fund on this market again and making the sentiment become positive again.
But, beside of this positivity we see on the sentiment, we must be aware of the key region too that the market capitalization faces in the above region. This $400 Billion level has became a very crucial zone that the market cap must watch. This key level is automatically becoming boundary of the price to go up. On the historical pattern, we saw a complete rejection and a huge fall after the market cap reached out this level. The first test was on April 30th, 2018 which we see a huge drop of the bitcoin's price from roughly $11500 to $3200 (-72%) and the second test was on June 24th, 2019 which made the price of bitcoin dropped from roughly $14000 to $3800 (-73%).
Although current sentiment on the market is now reaching the positivity and makes the momentum based on MACD ticks up on the bull side, we need something more stronger than current Paypal adoption that makes the market become more attractive again so the market cap can breaks out from the $400 Billion zone. If the market capitalization is back to above $400 Billions, I'm 1000% sure that the next alt season and the bitcoin's action beating the previous ATH will occur in the near future. Current bitcoin's structure is having the same alignment with this current market capitalization's structure which the price of bitcoin is now testing a crucial resistance which is the interim swing high of previous upside pattern.
https://www.tradingview.com/x/31VQFGvv/
Market capitalization is approaching key level
Last week has became a huge turning point for bitcoin which the price has already surged for more than 15% since its open on the early week. This upside moves is the direct effect because of the many good news that has occurred lately in the market. The biggest news we have seen was the Paypal decision to enable the buy and sell cryptocurrency on its platform. This news however has became the interest point for most of investors to put their fund on this market again and making the sentiment become positive again.
But, beside of this positivity we see on the sentiment, we must be aware of the key region too that the market capitalization faces in the above region. This $400 Billion level has became a very crucial zone that the market cap must watch. This key level is automatically becoming boundary of the price to go up. On the historical pattern, we saw a complete rejection and a huge fall after the market cap reached out this level. The first test was on April 30th, 2018 which we see a huge drop of the bitcoin's price from roughly $11500 to $3200 (-72%) and the second test was on June 24th, 2019 which made the price of bitcoin dropped from roughly $14000 to $3800 (-73%).
Although current sentiment on the market is now reaching the positivity and makes the momentum based on MACD ticks up on the bull side, we need something more stronger than current Paypal adoption that makes the market become more attractive again so the market cap can breaks out from the $400 Billion zone. If the market capitalization is back to above $400 Billions, I'm 1000% sure that the next alt season and the bitcoin's action beating the previous ATH will occur in the near future. Current bitcoin's structure is having the same alignment with this current market capitalization's structure which the price of bitcoin is now testing a crucial resistance which is the interim swing high of previous upside pattern.
Forwarded from Plutus Capital
$13500 target hit! Now is the time to exercise caution. Price could hit $13800 in the very near future but it's not guaranteed.
Will be looking to hold current longs until we close below green zone, then I'd start looking for short. If not, will be looking for a move to ~$13800 before looking for shorts.
Even though price keeps making higher highs, RSI is making higher lows, which shows that bulls may be getting exhausted.
https://www.tradingview.com/x/0YiWatoL/
Will be looking to hold current longs until we close below green zone, then I'd start looking for short. If not, will be looking for a move to ~$13800 before looking for shorts.
Even though price keeps making higher highs, RSI is making higher lows, which shows that bulls may be getting exhausted.
https://www.tradingview.com/x/0YiWatoL/
An Educational post so you can take home some learnings today.
Basically when we are using indicators like MA/EMA/ichi/Trendlines/ Price action ... It is Qualitative Analysis. The levels that are supposed as Support/Resistance can be broken.
When we use Funding rate/Premium Index, It is Quantitative Analysis. For midterm trades, it is never wrong for direction.
Quantitative Analysis is normally against Market Sentiment
That is reason when 5k everybody thinks sky will fall to 2k. The result is pump back to 8k.
When 10k everybody thinks it will rocket to 12k. The result was dump to 3k7.
But Funding doesn't lie to you.
The difficult thing in Quantitative Analysis is you must detect where is consolidation and run phase and estimate the time that market breakout.
In the past 2017/2018/2019, I just estimate it by Open Interest. Market need to accumulate enough Open Interest for Big Moves. This time market went up with no need big OI. That is pretty special.
Basically when we are using indicators like MA/EMA/ichi/Trendlines/ Price action ... It is Qualitative Analysis. The levels that are supposed as Support/Resistance can be broken.
When we use Funding rate/Premium Index, It is Quantitative Analysis. For midterm trades, it is never wrong for direction.
Quantitative Analysis is normally against Market Sentiment
That is reason when 5k everybody thinks sky will fall to 2k. The result is pump back to 8k.
When 10k everybody thinks it will rocket to 12k. The result was dump to 3k7.
But Funding doesn't lie to you.
The difficult thing in Quantitative Analysis is you must detect where is consolidation and run phase and estimate the time that market breakout.
In the past 2017/2018/2019, I just estimate it by Open Interest. Market need to accumulate enough Open Interest for Big Moves. This time market went up with no need big OI. That is pretty special.
Forwarded from EXCAVO CHANNEL
According to on-net data, the trader transferred over 88,857 BTC (about $ 1.15 billion) and paid commission for just 0.00027847 BTC ($ 3.58).
Transaction confirmation (https://www.blockchain.com/btc/tx/d486aeb0e59181fd1addb4aa69ce04d638188fc1125c424899267e8ed6a8af24)
At block 654364 dated October 26. Whale Alert is sure that the sender's address belongs to the custodian Xapo, who previously had large transactions, but no more than 5,000 BTC.
Transaction confirmation (https://www.blockchain.com/btc/tx/d486aeb0e59181fd1addb4aa69ce04d638188fc1125c424899267e8ed6a8af24)
At block 654364 dated October 26. Whale Alert is sure that the sender's address belongs to the custodian Xapo, who previously had large transactions, but no more than 5,000 BTC.
Blockchain
Transaction: d486aeb0e59181fd1addb4aa69ce04d638188fc1125c424899267e8ed6a8af24 | Blockchain.com
The easiest and most trusted transaction search engine and block explorer.
Had a very productive chat with an old friend, a member. Would love to hear from you. Even if it's a non crypto thing. Open for a chat with all of you.
Drop me a message @cryptopotatoes 💞🍻
Drop me a message @cryptopotatoes 💞🍻
https://www.tradingview.com/x/xNylJnDF/
$FILUSDT SHORT
The stop is far off so make sure you have your leverage on the lower side.
$FILUSDT SHORT
The stop is far off so make sure you have your leverage on the lower side.
https://www.standard.co.uk/news/world/france-germany-coronavirus-lockdown-a4573230.html
The news you should be reading.
The news you should be reading.
www.standard.co.uk
Lockdowns loom in France and Germany as cases surge
France and Germany were today facing going into partial lockdown as Europe’s leaders struggle to cope with surging Covid-19 infections.
Successful traders have an unfair advantage over others. Its because they know what they are doing. Most people don't.
Forwarded from CryptoVigilante
🚨Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators.
🏃♂How long can CZ run for?
https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/#4be18d542a92
🏃♂How long can CZ run for?
https://www.forbes.com/sites/michaeldelcastillo/2020/10/29/leaked-tai-chi-document-reveals-binances-elaborate-scheme-to-evade-bitcoin-regulators/#4be18d542a92
Forbes
Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators
The largest cryptocurrency exchange in the world, Binance, made plans to use its U.S. presence to deflect regulators and profit from American investors in spite of regulatory restrictions.
https://www.tradingview.com/x/vF8eAMsN/
$BNBUSDT SHORT Learnings
We missed the good entry on this trade but we can always take home some knowledge. Two simple concepts in action.
1) More times the price tests a level, the more likely it is to break from it.
2) Multiple levels breaking down indicates a systematic dump through levels.
$BNBUSDT SHORT Learnings
We missed the good entry on this trade but we can always take home some knowledge. Two simple concepts in action.
1) More times the price tests a level, the more likely it is to break from it.
2) Multiple levels breaking down indicates a systematic dump through levels.
Couple of thoughts on OKEx. Quizzed a few members of our channel and here's a quick glance.
https://twitter.com/HashedPlutus/status/1322526216000278528
https://twitter.com/HashedPlutus/status/1322526216000278528
Twitter
Hashed Plutus
Three years, constantly smoothening rough edges to make your crypto experience wholesome. Today we celebrate the third anniversary of our favourite exchange, @OKEx https://t.co/QSz5I5FD6V
https://www.tradingview.com/x/am1W53WC/
$ETHUSDT SHORT
Weekend wanted to stay away from charts but well here we are. Opened my shorts a few moments earlier at the break of resistance. I'm expecting a strong downward trend to the next level (daily support).
The risk reward ratio is over 5 so you surely know this one might take days to hit or get closed mid way.
Remember to always lockin profits while you have positions open.
$ETHUSDT SHORT
Weekend wanted to stay away from charts but well here we are. Opened my shorts a few moments earlier at the break of resistance. I'm expecting a strong downward trend to the next level (daily support).
The risk reward ratio is over 5 so you surely know this one might take days to hit or get closed mid way.
Remember to always lockin profits while you have positions open.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/am1W53WC/ $ETHUSDT SHORT Weekend wanted to stay away from charts but well here we are. Opened my shorts a few moments earlier at the break of resistance. I'm expecting a strong downward trend to the next level (daily support).…
Yes, I did open higher than the given entry. Solely because I didn't want to expose all of you to that amount of risk.
https://www.tradingview.com/x/sdOSFxkE/
$LINKUSDT SHORT
Another coin we loaded a short on earlier, its on the run now. Still a good short if you stick to a low leverage and manage your risk well.
$LINKUSDT SHORT
Another coin we loaded a short on earlier, its on the run now. Still a good short if you stick to a low leverage and manage your risk well.