Nemo, i don't know how much you get into harmonic patterns but they truly are the only time i get hyper confident an asset will go up or down. Not only the harmonic pattern itself but you really want to see the reversal location at a major price point to give it more believability.
Quoting: Mr Cheese Hi Cheese,
As always, thanks for the education and analysis. I've tried using harmonics but just couldn't really ever grok them enough to feel comfortable with the results, but maybe some day....
Tron is probably going to be the failure point of the whole USDT scheme, so having a specific level to watch for is a very useful bit of information.
Getting the timing of the market correct is very difficult to do, so I don't know when the bear will return, but I am positive it won't be gone for long as there are too many fundamental reasons.
But for now, I am happy to stay in the long trade for however much time it plays out for.
https://imgur.com/a/7CUQIcE
Cash is still moving out of Stablecoins, although not as fast today as yesterday. A reversal here is my signal that it's time to exit long.
https://imgur.com/a/9O9zvaD
BTC moved up nicely today, closing at the upper limits of the resistance zone. How it interacts with the DMA 200 and prior support over the next day or so will be an indication of how strong this trend up might be.
As mentioned earlier, I've moved the majority of my capital off exchange and into self custody as it a very real possibility of major failures everywhere. But the small amount I'm risking in this trade I'll probably risk again going short when this run up ends.
I'll have to look at shorting Tron, although it could well end up being a Pyrrhic victory.
