hauteville

hauteville

There was a short squeeze overnight due to high negative funding rates on Chinese exchanges. All night OKEX had a severe negative BTC funding rate (around -0.02%), but as soon as China restructured Evergrande this morning, the funding rate on Bitcoin went positive. That ended the short squeeze. Sources: coinalyze.net & www.coinglass.com Also, there is a massive...

hauteville

On the 1-month chart, an empty space wedge has cleaved the price action of the SPY from its Bollinger Band Walk (in other words, the bull rally).

hauteville

I'll close my short when the 6H MFI bottoms. It's a bit of a risk. I could take profit now on my 3H MFI strategy because the 3H has cleanly bottomed (a little too cleanly...like a falling knife). I like to play higher timeframe confirmations when presented to increase my rewards-to-risk ratio. I'll go long at the 6H bottom if it happens. Excuse me for being sick....

hauteville

Closed my long on ETH. Was a good trade. Going short on BTC now. Riding the waves. Summer surftime.

hauteville

Tethers are created when a person sells a CRYPTO/USDT pairing. Tether is a commodity, specifically, a means of exchange. Cryptocurrency exchanges like KRAKEN accept CRYPTO/USDT pairings because USDT is essentially a credit from BITFINEX, a trusted exchange. As market makers, many exchanges handle USDT transactions everyday. When the price of CRYPTO/USDT goes...

hauteville

According to the CCP, China's CPI increased only 1.3% in May. That's a very low increase. It means consumer inflation isn't a problem in China. This has sent Bitcoin bulls into a frenzy. Whoever they are. Another headline: Chinese factories are charging the most for goods in almost 13 years. This is called China's PPI. Bitcoiners are among the most...

hauteville

The June CPI (Consumer Price Index) report is coming out tomorrow at 8:30am. Last month, worse than expected CPI numbers sent BTC into a bear market. Will CPI numbers be worse than expected a 2nd time in a row? Notice that while equities (including meme stocks such as AMC and GME) generally recovered from last month's CPI release, BTC did not. The market does...

hauteville

On the higher timeframe, it's clear that whale BTC purchases are being cancelled out by whale BTC sales. This is hidden distribution. Invisible to the naked eye. Cunningly hidden from retail on lower timeframes. As soon as the yellow MFI line hits the bottom green line on the 1-day MFI chart , there's going to be a crash similar to May 19th. The bounce will be...

hauteville

The great BTC crash on May 19th happened in this same area on the 6-hour timeframe of famous swing trader Barry Burn's cycle indicator. The second crash doesn't have to happen tomorrow, but it's an advantage to know that it could.

hauteville

I made a discovery tonight. Whenever the bar-chart is noticeably above the MFI line for several mountain peak ranges, like a rainbow, or when it's noticeably spilling out of the peaks like cascading waterfalls, that's very bearish. On the other hand, a 1hr chart is bullish when it ascends through the middle of the MFI mountain range, like a sloth gripping and...

hauteville

The 6-hour chart of Barry Burn's Cycle Indicator According to swing trader Barry Burns, chart patterns can be used on indicators. Here we have a head and shoulders on the stochastic cycle indicator: High volume on the breakout shoulder. Increasing volume up to the head. Decreasing volume on the right shoulder.

hauteville

We haven't hit the 1-Week MFI (Money Flow Index) bottom level yet. Maybe we're stuck here because the bulls are forcing a recovery too soon. Maybe they don't understand what caused the relief rally in 2018 because they only look at the MACD and not the MFI. In the 2018 bear market, we had a recovery rally only after we hit the bottom MFI level. Here's an image...

hauteville

We're in a triangle barchart formation right now so a breakout this week is imminent. Yet we're at the top of the MFI chart. There's little room to define more velocity here. If we were going to go up 50% from $1500 to $3000, it would have already happened. It would have happened today. Because money flow is already high. But we only got 5%. For instance, AMC...

hauteville

550 million ETH.USDT was purchased on Binance today by the bulls. The money flow index line (green) is in the top zone. Wyckoff Patterns and the MFI It's unclear if we are in a Wyckoff structure still. If we are, this is a bull trap. The best Wyckoff strategy for Going Long is when the MFI line is at the bottom zone, not the top zone. Wyckoff bearish...

hauteville Updated 

Priority #1: Check the Money Flow Index (MFI) on the 1-Hour chart. And be flexible on bedtime. The market breathes in and out everyday. Some people introduce terms like "Wyckoff distribution" and "Wyckoff accumulation." Maybe Wyckoff patterns are just market breathing patterns. Institutions have a tricky time trying to buy or sell while the market is...

hauteville Updated 

I'm waiting to see what happens at 2pm and 8pm. We have not started the intraday bearish cycle yet. Morning action looks indecisive.

hauteville

Someone sold $400 million ETH.USDT yesterday between 8pm and 11pm on Binance. Then someone bought $500 million ETH.USDT today between 2am and 5am. I'm willing to entertain the idea of going long, but I'm not convinced by this & I wouldn't risk my life's savings going long here. I want to see several billions ETH.USDT purchased and HODLed by the institutions...