Review of final week’s trading outcomes
Hi guys, final week we obtained “Breathing in the drama” frequently relevant to the FTX exchange and has viewed extremely detrimental “reactions” from the industry. Therefore, I did not trade final week and made the decision to just sit outdoors and observe. It is unfortunate that we produced a right prediction and produced a quick system for Bitcoin but failed to match the rumor.
However, you have matched a bet which is LINKUSDT. Here is a invest in system final week in the eight-eight.two zone, with a price tag dump matching the entry and then bouncing back to get revenue.
Result: Hyperlink matched the entry, so it accomplished + 15% revenue.
Trading system for this week
Bitcoin (BTC) evaluation and remarks.
In the weekly frame, the marketing was fully underwhelming just after the sideways phase. We have a virtually complete weekly candlestick falling from twenty,900 to sixteen,600, this is also the widest candlestick in current occasions.
=> The industry “seems” to have exited the price tag zone sideways just after continued terrible information relevant to the FTX bankruptcy and the effect of the Fed continuing to hike curiosity costs.
This is a time frame that helps make me really puzzled when commenting. First, you can see that the price tag has broken out of earlier assistance and effectively retested it, generating it quick to see that the bears have fully dominated. However, the price tag and the Awesome Oscillator (AO) are generating a converging signal on the bottom: the price tag is generating a reduce reduced even though the AO is generating a larger reduced. Usually, when the reduce convergence happens, the price tag will “easily” pull back or even reverse. However, this situation is really unlikely as the recent scenario is extremely tough for the industry.
If you comply with the scalping college, it need to be established that just after the current dumps, the industry will conveniently fall into a sideways state, so we can selection scalping sideways (my prediction is sixteen,300 – 18,000). Or to be safer, you can wait for the price tag to break out of these two price tag zones just before putting an buy as the system over suggests.
Frame 4H had the initial indicators of divergence (I use the AO indicator to measure this divergence). I anticipate that the price tag may perhaps have an additional pump to sweep liquidity out of the demand region and then go quick.
Of program, if this quick buy is prosperous, it isn’t going to indicate that BTC will plummet once more, never fail to remember that we are in a sideways cycle of the industry.
Personally, it is extremely early to inform that this is the reduced of BTC and getting ready for a new cycle.
BTC.D (Bitcoin Dominance)
BTC.D continued to hold the assistance 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 ideas for Altcoins
ETH
ETH is even now respecting the D-frame (day by day frame) assistance at one.239. In my see, this will be the region in which ETH moves sideways in the coming days. 03 occasions the price tag moved from this assistance region, it produced 03 reduce highs => obtaining energy was receiving weaker. So just after the sideway, the price tag is quick to break down. You can anticipate a quick entry.
DYD extension
After the FTX incident, decentralized exchanges like DYDX are mentioned for their “decentralization”. As a outcome, DYDX has recovered extra than x2 occasions from final week’s reduced. Currently, DYDX’s W chart is really wonderful when it generates two lows and the weekly candle has virtually “cleaned up” the stoploss. However, if we invest in at this price tag, our cease reduction will be a lengthy way off.
My system is to wait for DYDX price tag to right in a shorter time frame, moving to the two. zone – two.two will go into invest in.
Macro information
Last week, CPI information was extra beneficial as it fell extra than anticipated. Gold and the US stock industry have had a fairly very good rally. As for Bitcoin, due to also numerous terrible information relevant to the default of the FTX exchange, the price tag was unable to have a very good “recovery”, without a doubt strongly dampened.
This week there are numerous essential information, especially:
– On November 15 at eight:thirty PM (Vietnam time), the United States will release the PPI Producer Price Index information. This is also an essential metric that displays the inflationary scenario of the economic climate.
– On November sixteen, at twenty:thirty, the United States will publish the core retail product sales index (CRS). This is an index that measures the transform in the complete worth of US retail-degree product sales (excluding autos). This index will partly reflect the advancement of the economic climate => it will influence the Fed’s curiosity price selection in December.
finish
Here are some trading ideas from my private level of see. Hope you guys will have extra prospective customers for improved referencing and trading following week. Don’t fail to remember to join group 68 Trading on Telegram Let’s trade and “cheat” with us!