Crypto Trading Signals®️

$BTCDOM UPDATE This ascending trendline may come into play at some point in time in near future which will be bullish for altcoins ofcourse. But for now, the index is sitting at $4400 - $4350 support. A 4H close below this level will be a confirmation of trendline and support break and a signal to go long on altcoins. Unless anything like this happens, considering that bitcoin dominance is at support, I would not want to take risk with any altcoin longs here. So, the bias for today remains largerly neutral and if the index gives a bullish 4H close on this support, then expect a small pullback on altcoins. I would suggest that unless you have complete clarity on bias, do not risk any position here.

$BTC UPDATE This is the 1W chart fot bitcoin and after this last week close below $108.5K, no matter how you look at it, it’s quite clear that price has already lost this support on higher timeframe. Any retest of $108.5K - $112K will be an opportunity to scale into shorts.

$TOTAL UPDATE Despite having a decent move upside over the last few days on bitcoin and alts, alot of indices are now sitting at the levels lost after Monday, Nov 3rd last week. For the positively correlated indices, these are obviously now resistance levels, a strong signal that this could very well be just a retracement wave or a resistance retest for these indices. $TOTAL for example is now giving the first retest at 3.5- 3.6T resistance. I find it hard to believe that it will just break above this level without any significant downside reaction. So, as per our plan last week, we’ll wait for a push into $107K - $110K to go short. With $TOTAL already at resistance, this short makes sense. The only surprise upside could be in the form of end of government shutdown which we are getting signals about from Trump and administration. I have still not factored in that part and this could be the spoiler for the plan.

$ETH SHORT Placing the short limits for $ETH with entry at $3770 and DCA at $4165 and stoploss at $4339. This is going to be the big short I mentioned a few times in my updates. I was expecting the weekly candle to close a little bit higher around $3700 to go short immediately especially considering that $TOTAL2 has already reached the resistance where we planned to go short on $ETH, so ideally speaking, we could enter a market short here too, but I’d rather play safe hoping for a small push into $3800 - $4000 to go with this short. On daily, unlike bitcoin, $ETH already lost the structure back on 25th of September and I was probably one of the few people mentioning at that time that structure shifts on $ETH have been extremely precise during the last few years. So, in short, any upside from here imo is going to be a good shorting opportunity.

$BTC UPDATE With a 4H and 1D candle close below 9.10%, index has lost this support flipping it into a confirmed resistance. From daily bearish SFP to deviation retest, when most people were bearish at $99K, we actively focused on longs instead. Unfortunately, moved this upside move closing the long a little too early but the bias has been correct so far. Stablecoin dominance is now sitting at a daily ascending trendline and could easily trigger a move down to next support at 8.4% level. The pattern that usually gets formed at trendline is that price will give a few small bounces before having an impulsive move downside. So, there can be a small bounce here possibly giving the first retest at 9.2% - 9.1% resistance followed a break below. But do not forget that the index continues to move in an uptrend and any upside this may easily just be a retracement wave in formation. So, my bias for this week is to wait for a push into $107K - $110K range and start scaling into shorts when everyone is bullish. Our focus this week will be on placing short limits for most big caps that have a clear loss of structure.

$BTC UPDATE Exactly as predicted, deviation retest and rejection back into 9.2% support. Moving stops to breakeven for our bitcoin long, just need one 4H closes above below 9.10% and next stop will be $107K.

$OTHERS/BTC UPDATE $OTHERS/BTC is having a descending trendline breakout and as a result, you can see the altcoin market is outperforming bitcoin today. But the index is not too far away from the resistance at $0.12, so you would need to be careful here and not get get carried away completely. I must warn you that 90% alts are trading directly under 1D 12 EMA, 4H QVWAP and October’s POC, so as we approach resistance on these alts + $OTHERS/BTC, I would suggest having a cautious approach. Once we have 2-3 consecutive 4H closes above this resistance on index as it happened back on July 12th, that’s when you can start positioning more comfortably into altcoin longs. Overall, the bias today for altcoin market is positive.

$BTC UPDATE Perfect read so far about a possible deviation retest and rejection soon after that. We will wait for price to reach the support at 9.2% back again to move stops to breakeven for our bitcoin long. Remember that for a move above $104.5K resistance + TVEM Band, we require atleast one 4H close below 9.1% on stablecoin dominance and that’s when we can add more into our long. Also, first half of Friday is usually positive followed by a negative 2nd half of the day during the US session, so I wouldn’t be too excited about this. But the bias for today remains slightly bullish.

$BTC UPDATE Stablecoin dominance going for that deviation retest of 9.5% - 9.6% level as mentioned in the morning update. There is no need to rush, wait for the retest. I will share the setup once I enter the long. Most likely going to be a successful deviation retest (rejection).

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$BTC UPDATE Even though as bitcoin sits at $104.5K resistance and there could be a small pullback as stablecoin dominance goes for that deviation retest, these two daily equal lows tell you that the medium term outlook is still temporary bullish and chances are high that we’ll eventually go for that $107K - $108K range.

$BTC UPDATE During our update yesterday, we discussed how going long at $101.5K was a good decision due to the deviation above 9.6% resistance and an expected move towards support of 9.2%. Now that the index has reached the 9.2% support, you can expect a bounce here towards 9.6% once again which will most likely result in a deviation retest followed by a strong rejection back into the support. Remember that the during this downside move on index in past 24 hours, there was deviation retest and so, price will likely go back and fill that imbalance. I’m not entertaining the possibility of an immediate break above 9.6% resistance because of the bearish SFP and I’m expecting a deeper retracement before another upside impulse begins. Another possibility could be the one in which the index will break below this current 9.2% support and go back to the next support at 8.4% level which is quite far away as of now. Again, I don’t think it’ll happen without the deviation retest of 9.6% but if we see a 4H close below 9.1% level, that would be a strong sign of short term bullish momentum for bitcoin and will result in price breaking above the TVEM Band on Bitcoin chart. The daily bias for today is slightly bearish for bitcoin due to the fact that stablecoin dominance is at support and bitcoin is at TVEM Band resistance. I will update as soon as there is any change in the outlook.

$BTC UPDATE Moved stops to entry! Good read so far, not taking any TP though. Will wait for resistance to be tapped on $TOTAL to book. Also, if the daily close happens with two 1D EQLs, expect another strong push into $107K-$108K tomorrow.

$TOTAL UPDATE As we discussed in the update yesterday, $TOTAL has a good support in the $3.2T range and with this sweep of October 10th low, we can treat it as SFP potentially having another strong confirmation for bitcoin long which we are already positioned in. But don’t forget that $TOTAL has lost the $3.5T support and the first retest of this level is going to be one of the best shorting opportunities for anyone who missed. We’ll wait for this retest, close most part of our bitcoin long and enter the big short in $107K - $110K range. For $ETH, it will be $3700 - $3800 range. I will be dropping the limits shortly. Ultimate target for $TOTAL will be $3T level.

$TOTAL2 UPDATE $TOTAL2 is now retesting the major support in the $1.2T range. Given that we had a big deviation below this support back on 10th of October, the deviation retest happening right now is most likely going to result in a successful bounce towards $1.4T resistance. Now, the $1.2T support is basically Ethereum’s equivalent of $3K support here and again, I doubt that $ETH will immediately lose this $3K level. But the main part we are concerned about is the first retest and possible rejection at the $1.4T level which is going to result in Ethereum getting hammered again after an expected move into $3600 - $3700. $TOTAL2 has plenty of resistance there in the shape of 1D 12 EMA and other dynamic levels. And this could happen potentially towards the end of the week resulting in $ETH closing a weekly candle outside the ascending weekly trendline giving us another confluence to place our big short at $3600 - $3700 level.

$BTCDOM UPDATE The daily bias in terms of altcoins still remains in neutral to slightly bearish zone and I would not suggest randomly going long here. For an altcoin recovery, you would not just bitcoin to go up here but also for $BTCDOM to break below this newly reclaimed support zone at $4600 - $4500 level as the situation has changed alot during the last 24 hours with dominance flipping this level. Nevertheless as I mentioned in update yesterday, altcoins have largerly remained stable mainly due to the strength on $OTHERSBTC chart. So, unless you see a break below $4550 (a 4H close will be enough), my bias for altcoins remains slightly bearish to neutral for the day.

$BTC UPDATE Took a long on bitcoin at $101.5K last night based on two factors. First, the clear deviation above 9.5% resistance on stablecoin dominance chart and second, the bearish SFP on 1D. There was clearly no BOS and only a sweep of highs, very similar to one that we saw on the bitcoin chart almost a month ago back on October 6th which eventually triggered the sell-off from $125K. Ideally, would like to see price give a deviation retest of 9.5% followed by a strong rejection and move towards 9.2% support. It would be too early to predict what will happen at that point but if this is end of impulsive wave marked with bearish SFP, then a move towards $107K - $108K is what I am expecting. I would loved to see price sweep the $98.2K but unfortunately didn’t get that. So don’t have a very solid confirmation from the bitcoin chart though for this long.