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I am Grxxt | DeFi Dojo Profile picture
@IamGrxxt
Jun 25, 2022 β€’ 6 tweets β€’ 3 min read β€’ Read on X
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Ok, so we've had a relief bounce, and a lot of #altcoin's have had some really nice gains. But, let's be realistic. #Bitcoin #BTC $BTC
πŸ§΅πŸ‘‡ Image
$BTC still can't even get over the 8EMA on the daily chart. Higher time frames are always king. Image
$ETH, the king of the #altcoin's, has managed to get over the 8EMA, but is already wanting to retest it. You can also see what has happened in all of it's previous attempts to get over this moving average. Image
$SOL is very close to crossing the 8/21 on the daily, but it's not there yet, and there's confluence down here near the EMA's themselves. No confirmation yet. Image
Be careful, don't listen to CT and influencers who tell you to buy just because they have a lot of followers. It's not an indicator that can be relied upon. I hope some of you have realized this already. Stop listening to people in chats, and start listening to charts. πŸ’―
It's getting interesting. Looks like it wants to break out to the upside here. I'd love to see this happen and head towards the 21EMA(purple).
FYI: I don't like being a bear. I so badly want to be a bull again. πŸ˜‚ Image

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More from @IamGrxxt

I am Grxxt | DeFi Dojo Profile picture
Nov 7, 2022
What is the Relative Strength Index (RSI), and how do you use it?

Developed by J. Welles Wilder in 1978, the Relative Strength Index(RSI) is a momentum oscillator that measures the speed and change of price movements.

#TradingSignals #RSI

πŸ§‘β€πŸ«Let's Learn!

Educational πŸ§΅πŸ‘‡

1/ Image
The RSI is an oscillator with a range from 0 to 100

There are 3 main values of interest:

πŸ”΅Below 30 signals that the market is oversold πŸ“‰

πŸ”΅50 signals neutral 😐

πŸ”΅Above 70 signals overbought πŸ“ˆ

2/ Image
The #RSI indicator has been featured in many books and articles over the years. Even though the it was created well before the computer era, it is still a widely used indicator that traders use to determine momentum in any given market.

3/ Image
Read 12 tweets
I am Grxxt | DeFi Dojo Profile picture
Aug 6, 2022
Risk Management is the most important factor in trading, and MUST be at the core of your trading strategy. If you made a ton of money in 2021, and then lost 80% of it in 2022 so far, you're not going to be a trader for very long.

How to create your own risk management plan:
πŸ§΅πŸ‘‡
1. Come up with a set amount that you want to allocate for long term investing, and an amount for short term trading. Long term should heavily outweigh your short term trading. For example, 80% long term investing, and 20% for short term trading. Keep these accounts separate.
1a. For long term investing, you should be using high time frame charts ONLY when deciding to buy/sell. The charts can give great indications of these buy/sell signals.

Decide how much for one asset, and scale in/out with multiple buys/sells over time. This is called averaging.
Read 16 tweets
I am Grxxt | DeFi Dojo Profile picture
Jul 7, 2022
How can we know if a correction, or bear market, has ended? In this thread I'll go over the previous correction from March 2020, and how it can help us with our current market.

Aβœ…list of things to look for to confirm a recovery has started.
$SPX $SPY $ES $BTC $ETH
πŸ§΅πŸ‘‡ Image
First, how do we know the bear market is continuing? Well the obvious answer is $SPX makes a lower low breaking $3636.87. Because every market recovery starts with a low that remains the low. Image
How do we know if a correction/bear market has ended?
1. A failure to break that same level: $3636.87

2. A rally that retraces 38.2-61.8% towards the previous high($4,177 current market)
Read 9 tweets
I am Grxxt | DeFi Dojo Profile picture
Jul 7, 2022
$BTC and $ETH have managed to stay above the 8EMA for three whole days. That's awesome. Sitting in between the 8/21 however means "Wait and see". It's progress, but we aren't there yet. A confirmed 8/21 cross is what we want. ALT's may be a different story.
More belowπŸ‘‡
If we get that 8/21, #Bitcoin still needs to get through numerous downtrends, and they're really far away. There is a CME gap above, which tend to become magnets. This is a potential target, IF, we get a reversal confirmed to the upside.
$SOL is back above the 8/21. But lagging somewhat today compared to BTC/ETH. I can see a move up to the top here. If that happens, indicators should be saying BUY, and it will be attempt #2 to long on SOL.
Read 4 tweets
I am Grxxt | DeFi Dojo Profile picture
Jul 6, 2022
$ETH look at this little guy! Let's keep it going!

$BTC you still have some work to do.

ETH has made it to the 21EMA on the daily. BTC approaching. Safe to say we get our 3 daily closes over the 8EMA unless something catastrophic happens in the next 45 min
#Bitcoin #Ethereum
$ETH hasn't touched it's 21 EMA since May 5th. We may have the beginning of something here.
Now hold on, because it still could just be a bigger triangle, I don't have much to draw this top line with yet.
Read 4 tweets
I am Grxxt | DeFi Dojo Profile picture
Jul 5, 2022
Weekly look ahead: $BTC making the same pattern over and over again. You keep doing the same thing and buying the dip expecting different results? That's the definition of insanity. Come join us in Defi Dojo(Link in my bio), we will be ready when it's time to buy.
#BTC #Bitcoin Image
$NQ $QQQ still above the mid line in this falling wedge on the daily. This pattern is bullish, however there's still plenty of room below it. With CPI data on July 13th I expect volatility leading into that. Image
$ES $SPY rejecting pivot and the EMA's still. Same story here with plenty of room down possible. No buy signals anywhere on higher time frames. Image
Read 5 tweets

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