Honestly, I don’t know whether to be scared or excited right now. MM has us all on the edge of our seats. Whatever happens next is going to be huge.
My bet is on the upside. The only true question for me is will they do a big fake out to the downside first.
November 2017 vs November 2021
Something gives me the feeling that those who are scorning Plan B will have their mouths shut
If something like the above does play out then make sure to take profits on your Alt positions as Bitcoin Dominance might come into play and fully wreck them
Be careful with your alts. Bitcoin Dominance has swept the lows and is looking somewhat strong
The only alts I wouldn’t mind being in are any metaverse coins that havent gone parabolic recently. I think Bitcoin is set to strike back against all other alts though. That includes Eth.
Bitcoin Dominance going up but Bitcoin is holding. Alts are dropping. Alt season is over - just as i thought it might be
I’m taking some profits on my alt positions. Happy to re-enter when it looks like the coast is clear. No one ever lost by taking profit
Bitcoin looks fine. It’s just alts im being wary of. Just because Bitcoin goes up does not automatically mean alts do too. The MM has to rotate their liquidity
Looks like Bitcoin Dominance is losing this low now and yesterday wasn’t a fake out. Looks like Alt Season might run until BTC Dom hits 41 and creates a triple bottom.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Same play as always:
Take out the top of the range first and you target the bottom, take out the bottom of the range then you target the top.
Note: $Eth range isn't confirmed until a break below $1557.65 has occurred.
Price moving towards the top of the range at the moment. Will be careful if this turns out to sweep the range high first - have to remember that we're in the vicinity of a bullish order block and the fact there's a lot of fuckery around the weekend. If it does take range high...
...i'd like confirmation by it re-entering the range and holding within. A move back up above again and i'd be vigilant to make sure it doesn't go against me too hard.
For scalp ranges I am always looking for a minimum of 3:1 RR.
Notice and observe how whenever we drop people start searching for lower and lower targets.
Was this the case a few months ago? No, people were looking for higher targets until all hope was obliterated.
There was a sentiment shift when we dropped below 28k.
Hope turned to despair.
People who had been trying to buy/long the dip were now more of the thought of selling/shorting the rips.
Towards the end of the move is when people start getting aggressive with even lower or higher targets.
Know when the market structure has shifted, we are very much in bullish market conditions - yet the crowd is still very much with a bearish mindset. Most are offside.
2/ What's the first thing people learn when they start trading?
Technical analysis of the chart. Usually through some sort of patterns system, Fibonacci, Elliot Waves, Fair Value Gaps for example.
But what is something is consistently overlooked?
Time.
3/ Time is important because it's when the Market Makers and the algorithms are most active in the market. You'll see this through sessions whereby most of the activity in the charts happens whenever the key legacy sessions are open. These are Asia, London and New York