Review of final week’s trading benefits
Hi guys, final week we obtained “Breathe in the drama” regularly associated to the FTX exchange and has viewed extremely unfavorable “reactions” from the market place. Therefore, I did not trade final week and determined to sit outdoors and observe. It is unfortunate that we produced a right prediction and produced a quick program for Bitcoin but failed to match the rumor.
However, you have matched a bet which is LINKUSDT. Here is a acquire program final week in the eight-eight.two zone, with a cost drop matching entry and then rebounding to hit consider-revenue.
Result: Website link matched the entry, so it attained + 15% revenue.
Trading program for this week
Bitcoin (BTC) evaluation and commentary.
In the weekly frame, the promoting was fully underwhelming following the lateral phase. We have a virtually complete weekly candlestick falling from twenty,900 to sixteen,600, this is also the widest candlestick in current occasions.
=> It “appears” that the market place has exited the side cost zone following continuing terrible information associated to the FTX failure and the effect of the Fed continuing to increase curiosity charges.
This is a time frame that tends to make me pretty puzzled when commenting. First, you can see that the cost has broken out of earlier help and effectively retested it, generating it simple to see that the bears have fully dominated. However, the cost and the Awesome Oscillator (AO) are generating a converging signal on the bottom: the cost is generating a reduced reduced when the AO is generating a greater reduced. Usually, when the reduced convergence takes place, the cost will “easily” pull back or even reverse. However, this situation is pretty unlikely as the present circumstance is extremely complicated for the market place.
If you observe the scalping college, it must be established that following the current dumps, the market place will conveniently fall into a sideways state, so we can assortment scalping sideways (my prediction is sixteen,300 – 18,000). Or to be safer, you can wait for the cost to break out of these two cost zones just before putting an purchase as the program over suggests.
Frame 4H had the to start with indicators of divergence (I use the AO indicator to measure this divergence). I anticipate the cost to have a further pump to wipe out the liquidity of the demand spot and hence go quick.
Of program, if this quick purchase is thriving, it does not suggest that BTC will plummet yet again, do not overlook that we are in a sideways cycle of the market place.
Personally, it is extremely early to say that this is the reduced of BTC and it is getting ready for a new cycle.
BTC.D (Bitcoin Dominance)
BTC.D continued to hold the help zone. BTC.D May Rebound With Bitcoin Crash This Week => Altcoin Will Face More Challenges. Thus, you can restrict Altcoin transactions in the close to potential.
Some strategies for Altcoins
ETH is nonetheless respecting the D-frame (each day frame) help at one.239. In my see, this will be the spot in which ETH moves sideways in the coming days. 03 occasions the cost moved from this help spot, it produced 03 reduced highs => getting energy was acquiring weaker. So following the sideway, the cost is simple to break down. You can anticipate a quick entry.
After the FTX crash, decentralized exchanges like DYDX are getting mentioned for their “decentralization”. As a outcome, DYDX has rallied additional than x2 from final week’s reduced. Currently, the W chart of DYDX is pretty good when it tends to make two lows and the weekly candle has virtually “cleaned” the stoploss. However, if we acquire at this cost, our prevent reduction will be a extended way off.
My program is to wait for DYDX cost to right in a shorter time frame, moving to the two. zone – two.two will go into acquire.
Last week, CPI information was additional favourable as it fell additional than anticipated. Gold and the US stock market place have rallied pretty very well. As for Bitcoin, due to also a lot of terrible information associated to the default of the FTX exchange, the cost was unable to have a excellent “recovery”, albeit heavily dumping.
This week there are a lot of significant information, exclusively:
– On November 15 at eight:thirty PM (Vietnam time), the United States will release the PPI Producer Price Index information. This is also an significant metric that displays the inflation circumstance of the economic climate.
– On November sixteen, at twenty:thirty, the United States will publish the core retail income index (CRS). This is an index that measures the alter in the complete worth of US retail-degree income (excluding autos). This index will partly reflect the growth of the economic climate => it will influence the Fed’s curiosity charge choice in December.
Here are some trading strategies from my individual level of see. Hope you guys will have additional prospective customers for greater referencing and trading up coming week. Don’t overlook to join group 68 Trading on Telegram Let’s trade and “cheat” with us!