Motrok

Motrok

Like I posted yesterday, failing thrice to break ema9 on the 4h and topping at 10k of all values, along with decreasing volume, seemed to meant doom. And Doom it was. On the 30m, steep rises continue to prove fatal when they break their steep trendlines. This time was no exception. Looks to be clinging to that last support, from there, I hope I am wrong but I am...

Motrok

As you can see here, these two trends form some sort of channel apparently. The fall today was too steep, I'd expect it to bounce back and forth between them. If it breaks down, then it's short. If it breaks up, then wait for confirmation at 12400 before going long.

Motrok

If this candle confirms in 30 minutes, we will have broken down a rather large falling wedge on the 4h chart. If this is the case, I will go short big time, since target could be under 3k. As usual, use SL which would be quite close, just over the wedge in case it goes inside it again. Trade safely.

Motrok

BTC is clearly about to break a very steep wedge, and that should take us at least to the 1 fibonacci level. We could take a very nice profit there and then let the rest of the position run. No volume since yesterday to keep this rally up. Always use SL! Follow me here and on twitter for more setups!

Motrok

BTC completed the triangle that I posted a couple of days ago, and it indeed broke down, so I managed to scalp a few bucks there. Luckily, it didn't break down too low, but it was enough to form a rather small falling wedge on the 4h timeframe (marked by the purple lines). If it breaks up as it should, we have a small target, but still worth trading it. It...

Motrok

So, As I write this, there are a good number of shorts opening on BTC. At the same time, it is about to finish a HUGE triangle on 4h. It could go either way (my bets are down, but I'll trade whatever happens) and the profit could be huge. Upwards, at least to 7k, and downwards, I expect it to dump up to 6320. Use SL and trade safely! If you liked this and found...

Motrok

After a more than decent rally these past few days, BTC has formed a VERY steep rising wedge. Five green 4h candles is probably not sustainable short term. Since we broke one resistance that was born on the past 8500 high, I am bullish mid term but long term it should give a small retrace at least up to the line that is supporting this run, which right now sits at...

Motrok

On the 4 hour chart, btc is ending a symmetrical triangle which is itself part of a bearish pennant. Last three times this happened, it broke down with force. I do not expect this to be an exception, so I am already on a short position, with a target of around 6100, which is decent for a scalp, specially if you use leverage. Bollinger Bands are really ight right...

Motrok

So, my position from yesterday payed off. BIG. That huge wedge that we broke was announcing a dump and we had a dump. So what now? well, those candles make the chart look deformed so, even on longer timeframes, I believe that we are still looking to form a figure. Any figure. Still, fibonacci levels are being respected, and the dotted red line that marks the...

Motrok

On the 1D chart, which is a VERY good timeframe to trade since it's so big (it DOES require a lot of patience tho) Eth isn't looking very good. After breaking up on its trend on April 24th, it looked like it was gaining ground but today with the dump from BTC, plus the huge amount of FUD that has been surrounding it lately, it is testing once again this...

Motrok

After finally breaking down the ridiculously long and steep wedge that BTC had been following for weeks (blue lines), it is now testing the support that was born on our last local high, around 8.5k (purple dotted line). Should it break, we would most likely be looking at new lows. If it holds, it will have a hard time consolidating the price around 7k, before...

Motrok

On the 30m timeframe, BTC has been forming since yesterday a very defined symmetrical triangle which itself is a part of a bullish pennant. This indicates that it is very likely to break up, but if it breaks down, it's still definitely tradeable. If it goes up, our target is the blue line, which is the huge wedge formed on 4h timeframe (already given me 3...

Motrok

After a few days dipping, btc has apparently resumed the pump and is once again testing its resistance. As I wirte this it's testing the smaller wedge, the pink one, which this week hasn't been strong so I will ignore it. However, once it gets to the 0.5 fibonacci it will also meet the hard, historical resistance (7130) where I will short with half the position I...

Motrok

Yesterday I posted a chart calling for an opportunity for a scalp if the pennant broke down, you can see it here: Although the target has been met and I've already taken all my profits from that trade, BTC has kept going down. I did not expect it to keep slumping, specially not with this low volume, but there just hasn't been any buying momentum going on. There...

Motrok

After todays dip, BTC started climbing again and formed a strong bullish pennant on the 30m timeframe. Usually timeframes so short aren't very good for figures like a pennant so it would be wise to treat it as a symmetrical triangle and trade when it breaks. I wouldn't trade if it breaks up, since the resistance at around 7130 has been quite solid these days, but...

Motrok

After breaking yesterday's symmetrical triangle, BTC is about to touch the blue line that marks the top of a channel that has given me already 3 perfect entrys these past few weeks. Will be sure to short it again, for a good but small scal (no more than 150 usd of retrace) since a squeeze could slingshot us far from that entry. There is a fib at 7137 that just...

Motrok

As you can see, after breaking from the symmetrical triangle I charted earlier today BTC has bounced precisely on the pink line from the first wedge. Already opened a short there, will add if necessary on the blue line. Trade carefully as a short squeeze could trigger a huge green candle, so put stops in place. Safe trades!

Motrok

I usually use longer timeframes (4h, 1d) to set up my trades and look for clues on the short 30m timeframe to find entrys and stops. After the stability that BTC has shown for the past week or so, a huge triangle formed on the 30m timeframe, which should be resolved within the next few candles. It is marked by the orange dotted line. Shorts are still...