fritbjorn

Here are your daily levels guys. A lot of movement on order wall position a few larger ones opened up. Support looks good but I did make note of a small gap between about 5800 and 5000 pips.This was meant to be underneath $VARA but because I glanced at MANTRA for a moment during the video it put it under here. I do not trade $OM.

In this video I demonstrate directly why VARA network is NOT diluted. This is open for discussion as you may prove me wrong, I just am not seeing it.

In crypto, especially when trading shit coins, measure OI on BTC, ETH, and any other asset that has futures up against whatever you are trading.Most importantly identify positive or negative correlation between the asset pair and TRADE accordingly.i.e. if you are measuring OI for USDX or DXY know that it will have negative correlation toward your risk asset whatever it is.Open Interest and Volume ARE NOT THE SAME THING!Volume is the measure of contracts settled in a trading session (hourly, daily, monthly, etc.)Open interest (or OI for short) is the total number of contracts still outstanding.OI and order wall size are correlated.OI is charted. Increasing OI means an increase in liquidity i.e. open contracts.Decreasing OI means that there is a decrease in liquidity i.e. liquidity is leaving the market either cash or asset.Open Interest can help you identify trend shifts. Use it along with order flow the compliment each other.OI Rising - Market trends up - Volume increasing - Trend will continueOI Falling - Market trends up - Volume decreasing - Trend will turn bullishOI Rising - Market trends down - Volume rising - Strong bearish continuationOI Falling - Market trends down - Volume falling - Bearish bias is lesseningNotice in the above simplified examples that volume MUST be paired with OI to be useful.One might mistake that volume on it's own can be used to judge trends.Open interest will increase as more traders enter the market which means often that money is coming into the market.OI will decrease as traders exit the market or as contracts are closed. This means that money is leaving the market i.e. less buyers

My previous idea remains on target as BTC continues to consolidate in this bull flag continuation pattern. Price action is within a bullish squeeze pattern that continues to tighten on a very slight descending trend very similar to the previous level. Golden pocket is between $89,500 and $95,000.00 for long entries. Long term target following eventual breakout $135,000.00.

SPELL Token from the popular Abracadabra MIM ecosystem has broken out of strong correlation with SHIB which should result in gains to SHIB; typically, when one moves the other follows. I am thus LONG on SHIB as a breakout to the upside is statistically probable.

BTC remains very bullish with recent pullback likely a knee jerk reaction to the Fed announcement. I believe we will be seeing higher prices targeting 135k approximately with a period of sideways movement to precede the upcoming breakout.Trade still well active, targets still in site with a higher high posting almost monthly, very bullish on BTC.

This common looking candlestick that I've circled here is a type of indecision candle can indicate the presence of a large bullish order block below it. When we do a quick overview of the order flow data available through BookMap's heatmap we can clearly confirm that a massive order block does indeed exist and support spans a substantial area below current price action. For this asset class this can justify marking the candle with a green dot which indicates a long entry was taken. The green dot which is substantiated by not only correlation between this asset and the DXY index but confluence from actual order flow data.

Ah, the elusive 80/20 candle...I've been talking about the 80/20 candle quite a lot and there are of course different types. One is red which is starting to form on VARA's weekly chart, it has not confirmed there yet but on SHIB's chart we have a full fledged 80/20 hammer candle and because the candle is green the candle can exceed 20% and still be considered confirmed. The way it often works is a large wick forms off of support level which in this case is that massive order block just below the wick. This indicates that traders, especially bargain traders have chosen that is the best price in that session and thus everyone buys in. The result is often a very quick V recover similar to what we often see in the stock market following any random crash.While the 80/20 candle doesn't guarantee a reversal it has a very high statistical success rate of 80% plus depending upon the asset class you are looking at. Just be warned that the success rate in this specific asset class is a little lower on the lower time frames but very high on the weekly and monthly candle chart.I am not a financial advisor. Trade safely my friends.

SHIB is range bound however movements tend to be fairly large with this asset after it has finished the inital pump. I show 2 possible bullish scenarios with the green lines indicating the most likely direction for the trade with the red dots indicating a take profit, not a short entry. This is because of the eratic nature of this coin price action could break out above either of the order walls both above and below current price action. These order walls are keeping the price action range bound with sideway movement the most likely scenario at this time. This coin already pumped almost 400% and has already pulled back substantially. Any take profits could lead to substantial cash in a re-entry at a lower price scenario or yield a massive amount of additional coins.

Red dots are short entries. Green dots are long entries. BTC is in a consolidation phase along with most of the crypto market.