Theta network - broken market structure - bear market
Diupdate
On the above 2-day chart price action has appreciated a massive 27500% in just a little over 300 days since the life cross.
I’m afraid a death cross has just printed on this 2-day chart, which means price action is now in a bear market.
A bear market is defined as:
1) The 50-day SMA (blue line) crossing down the 200-day (red line).
2) Price action trading under the 200-day.
As this is a 2-day chart the 50 and 200-day SMAs are actually 100 and 400 days of data. This is particularly powerful as the day chart can prints false signals. This isn’t one of them.
Additionally price action has printed a lower low from the last higher low. This is broken market structure.
On the 10-day chart below price action is printing a candle body below the annual EMA. This is not a EMA you want to be on the wrong side of. If confirmed, i.e. a full candle body, closes under the EMA by January 1st it will be a year+ before it gets back above.
Lastly 93 of 100 ideas recently published on tradingview are ‘long’. If there’s one statistic that never fails the test of time, 95% of all traders lose money. Will you be one of them?! No emotion = profit.
Good luck!
WW
10-day chart with annual ema (green line)
I’m afraid a death cross has just printed on this 2-day chart, which means price action is now in a bear market.
A bear market is defined as:
1) The 50-day SMA (blue line) crossing down the 200-day (red line).
2) Price action trading under the 200-day.
As this is a 2-day chart the 50 and 200-day SMAs are actually 100 and 400 days of data. This is particularly powerful as the day chart can prints false signals. This isn’t one of them.
Additionally price action has printed a lower low from the last higher low. This is broken market structure.
On the 10-day chart below price action is printing a candle body below the annual EMA. This is not a EMA you want to be on the wrong side of. If confirmed, i.e. a full candle body, closes under the EMA by January 1st it will be a year+ before it gets back above.
Lastly 93 of 100 ideas recently published on tradingview are ‘long’. If there’s one statistic that never fails the test of time, 95% of all traders lose money. Will you be one of them?! No emotion = profit.
Good luck!
WW
10-day chart with annual ema (green line)
Trade aktif
Trade aktif
45% correction so far, plenty more to go. On the 5-day chart below are some support levels to look out for. As you can see there's no 'buy' signals here, so please don't try to guess where the bottom is.I'm not in this trade, message below if you'd like an update.
Catatan
** 3-day death cross ** prints following the 3-day life cross back in March/April 2020.Price action rally to $4.50 (resistance) would not be surprising to test past support as resistance, however don't confuse that with a trend reversal.
Trade aktif
Making good progress - lower highs lower lows - bulls getting rekt.Trade aktif
Picking up speed now.Catatan
Two support levels to look out for in the weeks ahead.80 cents and 24 cents. The support at 80 is there but not as strong as the support at 24.
Either level will require a period of consolidation, no rush.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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