apexcryptotraders

BTC gaining momentum for a PUSH UP? BTC is currently in a consolidating stage with little momentum and I believe BTC is still bearish as per my current position in previous post below: We have just entered into a month(June) where BTC had been bearish for the past 3 years however my TA is showing some signs that it will bounce at 24k price region as circled in green with 2 major confluence acting as Support/Demand Area. 1. Order Block from mid March 2. Support from descending Channel This is considered as a short-term trade where I will be starting to take profits early and wait for a clear sign that BTC is Bullish before going for a long-term long position. Any clear break above the descending Channel will negate this idea.

Cup and Handle Pattern Formation. Long or Short? The Crypto Market showed signs of recovery since the start of the new year 2023. My overall bias is still BEARISH and will only flip if BTC price could hold above 35k for some time. BTC price currently sitting at a huge Supply/Demand Zone (RED Rectangle) coming way back from Jan '21. I will always look for entry confirmation before entering any trades but the play here is as per my Short Position tool giving me a nice mid-term trade, selling at 31.7k with a stop at 33.5k. TP at 24.6k gives a nice RR ratio of 4:1. Confluence from this Cup and Handle chart pattern, a handle is to be formed to gain momentum for a higher push up through this strong resistance. This is my plan for the coming days ahead. It is important to rehearse this earlier mentally or in written form so that when the time comes, you know what to do and emotions are no longer in the picture. If the stops are hit immediately with a pin, I might re-enter the same short position as "fakeout" price action normally happens after CPI reports are released which is the case here since the release of March CPI report 2 days ago.

We are still in a secular bear market, the weekly still in a clear downtrend. Thus it is always favorable to short the market as it brings a higher probability of success.3 KEY RESISTANCE LEVELS to monitor closely.1. 24.276k: Resistance from the most recent high, also coming from a huge Supply/Demand Zone (GREY Rectangle) from Dec 20. 2. 24.886k: Resistance from the top of an ascending channel that is respected well. This is the trade I am monitoring closely as per setup shared. However, confirmation is always needed before entry.3. 26.577k: Resistance from previous Support flipped Resistance at the weekly open on 13th June. Patience is key here as from my perspective, no good RR Ratio trades are present.

Nothing has changed for BTC, still sideways and no clear direction. This market by itself is a very HUGE OPPORTUNITY to make good trades if understood well. My fakeout strategy was triggered after a confirmation close below the yellow line indicating the breakout failed. However, a retest was not present for my entry to go through. This indicates the market is weak and the bears overpower the bulls. This could cause a short squeeze if the bears are not careful.Since this is a sideway market, I will be taking a short-term trade, buying here between 19.6k - 19.8k with a stop at 19.2k. TP at 21k giving a RR ratio of 3:1. If this happens, I will immediately take a new short position with a stop at 22k and TP at 18.2k.These are my plans for the coming days ahead. It is important to rehearse this earlier mentally or in written form so when the time comes, you know what to do and emotions no longer in the picture. If the stops are hit, this idea will be negated.Short-term long was stopped immediately after the CPI news. Inflation went up to 9.1%, much higher than the 8.8% Dow Jones estimate. A quote "That marked the fastest pace for inflation going back to November 1981" A potential short upcoming, current price at 20.6k, still waiting for entry at around 21k.

At the time of post, BTC just broke above Resistance at 20.2k and can we see it go to higher prices of around 21.3k and 22.1k?Is there a manipulation here? I would say very likely since it is the public holiday in US (Independence Day) and the volume verifies this in the 4H timeframe. There is no significant volume spike during the breakout thus it is very likely a fakeout. Another scenario that happened was when we broke down as circled in green just for the price to push higher up to the top of the channel. I will be shorting once the price drop back down the resistance with confirmation. Stop above high and TP should be bottom of channel.well target immediately reached. will probably explain how to trade fakeouts and identify manipulation in further detail next time.

It looks like a textbook Bullish Reversal with this Inverted Head and Shoulders (IHnS) pattern but be very careful as the VOLUME seems very weak, and the average volume is gradually decreasing. Usually, with breakouts like this, we expect a high volume spike to confirm the move and this looks like MANIPULATION in my opinion.The manipulation strategy we use goes like this, the moment price breaks the support ($1130) and closes (4H candle) below it, enter with SL above the High. Let it run down and use a trailing stop to let your winners run. If you are new here, remember nothing is confirmed but chances are higher there. Most retail would actually enter a long at support retest after this breakout and that is where the big money eats their SLs, just below the Support.I hope everyone who longed this listened to my advice and to manage their risks wisely. Now ETH price has broken below the right shoulder eating up the bulls who put their SL there. If the neckline is extended, we may see that ETH price is right below it and a huge move is very likely to occur as soon as we end the weekend. I am entering short trade now at 1050, stop at 1300. Take profit would be partially from 850 to 700.

Monthly close in less than 24hours, volatility is expected like what's happening now. We have a nice upside move from the break of trendline I showed in my previous idea post so I am expecting a retracement and test of previous resistance which has now turned support. Now the price has reacted to a new resistance at 32k, having multiple confluence1. 200EMA in 4H timeframe,2. horizontal resistance from past support & resistance,3. midline of a downtrend channel in the past (not really something I trade/rely on but gives a value with this confluence).As I explained before, this is a good area of value where you can,1. Take profits2. Enter a trade (short trade is the wisest since it gives the best RR ratio)3. Start shifting your SL (what i do for my longs) to lock profitsNew BTC Trading Range: 30.7k (Support) - 32k (Resistance). Keep it simple, Long at support and Short at resistance.My bias is still bullish(short rally to around 38k as mentioned previously) so I will add more Long positions as we test the 30.7k support.a lot has happened since. As you can see the support I circled in GREEN did not hold and that now is acting as resistance (30.7k). Price is still hovering in the horizontal channel we had in May (28.7k) and a break out here could create a lot of volatility.

We are approaching a key support area (bottom of horizontal channel in yellow). In order for the rally to come, BTC MUST HOLD 28.8k where I have mentioned this many times as per my previous idea posts. earlier this month and here more than a week ago I am NOT SAYING THE RALLY WILL COME but high chances it will. Why?1. we have been down for quite some time, market will never keep on going in one direction, especially for large-cap like BTC.2. This is a very strong support and it has held many times before showing buyer pressure.3. News are slowly coming out showing bullish signs. How about RESISTANCE that we need to break? We have the trendline (drawn in WHITE) and price reacted well. This is the very first resistance(circled in RED at 29.5k at the time of post and is slowly going down) we need to break and close. Then next would be 30.2k followed by 30.7k, 31.5k and so on (all circled in RED). There are a lot of liquidity as painted in GREEN and once we reach this 31k price level, the rally should be very much likely. my end target would be 38k. TLDR: Break and close below 28.8k, my idea of getting a rally will be NEGATED.Close above 30.2k, the rally in on the cards.When to buy? Anywhere around 28.8k is a good buy. SL below 26.3k.Conservative? wait for the breakout and close above 30.2k, SL 28.3k.Targets: 24k and 38k.Just realized a typo from my side there. Targets should be 34k* and 38k. So managed to get orders below 28.8k as I mentioned. Just shifted SL to 27.9k. Now the channel support (in yellow) and trendline drawn (in white) should act as support if this breakout is not a fakeout. How to determine fakeouts? 1. Low volume2. immediate bearish reversal candlestick pattern formingWill update from time to time here if there are any new info in the market.Shifted SL once again to 30.2k. BTC is going strong now, eating up the liquidations I showed in the charts. Since a lot has changed, i will be posting a new idea for new expectations and potential opportunities that might rise for BTC.

"When in doubt, zoom out." That's what I did and here is my Idea. In my previous post I did mention about longing as per below:So far the market is still indecisive and I am expecting we get that relief rally after getting too much selloff. The objective for May is to print that giant HnS and retest the neckline by end of the month. Then we shall see how that neckline holds and make a better decision from there onwards.I am not sure if this HnS has been posted elsewhere but even if there is, I am pretty sure only a few has seen this.

In my previous idea post, I mentioned how 35k is a very critical support that we must hold and how we went into doom when we had a close below that 35k. Any bears who took the breakout trade would be in huge profits. Eventually, they will be taking profits and we may see a relief rally. No one can predict the exact bottom but we just tapped the support (28.1k-30.5k) which held the May '21 dump.What's my next move? SIMPLE, Long the Support. I put my entry at 30.4k and will DCA more as we go down towards 28.1k to lower my entry if that scenario happens. I am not letting this opportunity go and sit on the sidelines. This is a low-risk trade I am taking and my trade setup as below. Entry: 30.4k - 28.1kTP: 32.9k, 35k, 37k. (may be adjusted according to how the market reacts from now onwards)SL: 27.8kWell SL just got hit. I am taking full responsibility myself, knowing its a risky trade and volatility can easily eat up my initial SL despite being very very conservative on the entry.Things to do after closing a trade regardless at profit or at a loss.-Accept that losses happen in trading-Make failure/setback a motivation to improve yourself-Understood that SL was there to retain capital and reduce initial risk-Check mental state and see what this trade does to your future decisions.