As expected we've bounced on (1) BOLL oversould. Now I'm preparing my next short as I have missed my predicted entry yesterday. I had to decided between a good entry price or have some sleep. 😜 Now I'm checking the market to see if #BTC (2) holds the line at
31.7k or cross that one to dump. I think it need a bit of time to cross this one if they are not dumping hard. To dump hard they accumulate #BTC first with a trap pump. That's what I'm waiting for now. I guess the current try will fail again, #BTC will pump to retest that area
afterwards with another try. The peak of this pump is my new entry price. I guess it will be between 31.9k and 32.05k. Patience is key. My next point of interest is (3) where we will reach the BOLL oversold. If we cross this one and maintain below, we will shift to a lower level.
The
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1. #DXY crossed the resistance at 93 as predicted last week. 93.3 is our next little milestone before 94. If we cross 94 we will see a bloodbath. So, always check that.
2. Fake Rally. It can happen that whales start a bull trap.
At the moment I'm staying away. Will try to jump in when it reaches it's peak to short all-in again. They will buy a lot of #BTC to dump it afterwards again.
3. Situations can flip immediately because of negative headlines. Janet Yellen did it once and will do it again.
Who remembers here tweet that initiated a long liquidation of almost $9B. You remember? That wasn't coicidence, but part of Wyckoffs distribution phase. I think she will be more active in the next coming days/weeks.
Rules to trade safe:
Don't let you guide by fear
Use StopLoss
@Pastore1314 It exists, but that's not happening here. Almost every Twitter traders Wyckoff orientation is only based on internet illustrations. I have tweeted a lot about that, but... the "accumulation" crap is still alive. Wyckoff logic scheme has 4 phases
Accumulation means, buy and hold. No buy and dump afterwards. No data yet is showing that whales are accumulating, but selling with profit. Checking the aSOPR indicator, which indicates if the market is selling assets with profit, shows clearly,
@Pastore1314 that they have started to sell (almost 90,000 #BTC) with profit at a price of $31,500. Also the exchanges whales ratio shows a strong selling pressure. Now we can talk about re-distribution.
Characteristics: 1. Poor rallies 2. High volume at support and resistance restests
Market Update: Ufortunately I'm still reading some bullish tweets on twitter. I have mentioned several times now, that whales are buying to dump afterwards. That's happening since our big dump phase in May.
As long we don't have a clean regulation framework, big money will stay away. So, in my opinion traders telling you that whales are accumulating don't have any idea how institutional investors really work. As management consultant I have spend many years advising banks in
different matters, but in the last years mainly in meeting the requirements of the regulatory authority. When I tweet something it's my opinion, based on my experiences, but trust me, I'm honest always to you and I don't have any interest to let you bleed.