ETH has printed a decent descending triangle. You either take a short around here and put a stop for invalidation or trade the breakdown. Depends on your style.
I've been talking about $700 since $1800. We will see.
I've been talking about $700 since $1800. We will see.
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Eiffel Tower + Bear Flag + Breakdown
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Like this. Eiffel Tower + Bear Flag + Breakdown:
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ETH/BTC. A giant range which most of the time spent at highs.
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One can argue that's reaccumulation but we need to break out first.
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And does it have the general characteristics of reaccumulation? I don' think so.
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If you wanna buy right now, go ahead. But that's just gamble. And I think it's a bad gamble:
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Expecting a double top-ish PA for the rest of the week.
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The only good thing about this rally is this thing. Lose it and it's over. Another possible strategy to counter trade rally.
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Such a significant level...
Which also means reclaiming is bullish!
Which also means reclaiming is bullish!
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Some people don't understand this. I'm building positions in the direction of the major trend. Because I don't believe in perfect entries. Never. When I see several things coming together, my positions are getting larger. I'm starting to look different coins to get better entries. I become more aggressive in times like this. I need to believe major trend has changed to stop shorting this rally across the market. And not yet. Simple.
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The problem is it's making a bull flag on the low timeframe. Looking really ambitious to ruin this beautiful game :D
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What I understand is, long-term bears want up right now. Long-term bulls want down.
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Just shorted AVAX as well. Cheap shorts.
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I'm just testing if someone is going to come and say "AVAX is partnered with Amazon. You gonna get liquidated!." haha
I really did short. 15.31 average entry.
I really did short. 15.31 average entry.
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Roller coaster of death.
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If you followed me from the start, 4 months, I've never talked certain like this. There is a reason for that.
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Now same for BTC. UTAD.
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Bear markets are hard to trade. Here is an example.
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If you want a safe short, your best bet is trading parabolic trend breakdown. I already have shorts. That's when i increase size.
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Good luck with your bullish bias here.
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Beware of some type of distribution.
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We gonna have first sign of weakness here.
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This one is different. Beware.
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Can you imagine this is actually distribution. Damn..
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It can evolve to an Adam&Eve:
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Although it's unlikely.
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At least this
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Original idea is invalidated. It's logical to expect continuation to $1800 in the coming weeks.
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I don't think the major trend has changed though. 1800 will be huge. Then I'm expecting new low. Then maybe real bull run.
