CarlsonCryptoTrading

CarlsonCryptoTrading

I'm not normally a fan of XRPUSD as it does fit into a different category of cryptography in the decentralisation revolution that is happening but...the price of XRP is so low and the technology is working. As shown on the charts I will be looking at DCAing in the shown triangles as I see a pennant forming. Once we break to the upside of the pennant I will be...

CarlsonCryptoTrading

Ethereum is sitting at a nice level to accumulate more before staking. I have marked my relevant levels to determine what I will be doing. As we can see with the right angled triangle I believe we are following a pennant pattern which will give us a price of Ethereum between $265 - $90 until the end of the year from now. Until we break to the upside of this...

CarlsonCryptoTrading

As it played out we had hit the upper pocket and then rejected back down (within the last hour). As I have been stating in all of my ideas I think we are going for a short and sharp ride down...how far down I'm not sure but I put the bottom of the ride at 4000ish. This is my play: I will be dollar cost averaging (DCA) into a bigger position on all...

CarlsonCryptoTrading

If you have a look through my posts I am quite bearish on price short term as I think we need the stock market to make its move down before we can decouple away from being correlated to DJI (IMO). We have absolutely smashed through resistances in the last 24 hrs going from 7500-7600 to nearly touching 9000. This is my revised play trade which looks at the WEEKLY...

CarlsonCryptoTrading

I have the play that we are at the top of this bounce @ the magical 65% in Fib Retracement. (Not sure how to link other charts yet but I'll explain it) Still having really high correlation between TVC:DJI and FTX:BTCUSD which implies that big investors are using the same strategies with stocks and Bitcoin. My opinion is that the US stock market will crash...

CarlsonCryptoTrading

We have now set a new range for local top and bottom after the pennant formation we had formed before (Btw that volatility!) This is my play (I have stopped assuming bearish or bullish movements as on the 1 hour time frame it is choppy as SH**.): When the stock market opens in the US BTCUSD will follow as I still am getting a high correlation between TVC:DJI ...

CarlsonCryptoTrading

Looking to diversify my trading into Ethereum so thought I would start putting down my key levels of historical support and resistance. My bias is that we are in an immediate bull market with Ethereum due to the utility it offers with Smart Contracts commercially and for Finance 2.0 using blockchain and IMO I think the COINBASE:ETHBTC price has a lot of room to...

CarlsonCryptoTrading

Looking to trade a breakout within the next 9 hours. Above 7593 (SL: 7516) (TP: 7750) or Below 7423 (SL: 7516) (TP: 7280) Maintain or gain.

CarlsonCryptoTrading

Looks like we have stabilised for this time period around 7500. I am still overall bearish due to fundamentals as I do still see a correlation with DJI and BTCUSD and am expecting the DJI to drop as COVID-19 is not going away and will continue to affect the economy. As bad as it is to use COVID-19 deaths as an indicator I think the point of 60,000 deaths in US...

CarlsonCryptoTrading

We have broken above the pennant which was as planned but I was more weighted in a short position. Happy that I had a hedge position to minimise my losses from my short which kicked in at 7325 and I have closed it at 7500. Now the new analysis is that we are going to be trending higher towards 8000 which is the 61.8% FIB level from the weekly local high to the...

CarlsonCryptoTrading

So continuing from my previous post we had broken out to the positive side of the smaller pennant at the upper bound price 6972 (although it did dip back down before doing the full breakout...just a reminder that there is no such thing as a sure thing even if it has worked in the past). It looks like we have hit a temporary support and resistance level between...

CarlsonCryptoTrading

Here are my ranges that I am looking at to see a short term increase in price or decrease in price. I am still overall bearish until the start of 2021 but this will determine if I put more working capital into the trade or not. To invalidate this bearish sentiment we would have to go above 7308 where I would have my stoplosses kick in and then push above 7466...

CarlsonCryptoTrading

Still believe that the head and shoulders pattern can still play out and am trying to get in early for the trade as I am willing to take the risk on my account but I am trading more weight on fundamentals rather than TA. I have calculated correlations with DJI and FTX:BTCUSD with them being 0.846 from Jan 1st 2020 - Current (Also calculated them for...

CarlsonCryptoTrading

These are my points of interest that I am looking at based on the lower time frames looking at the 15 minute chart. I have a short bias as of the head and shoulders forming on higher time frames and due to my opinion that no new money is going to flow into BTC to push the price up due to COVID-19 and how much free money is available. I have entered into a short...