UnknownUnicorn17387766

ETH Bear Flag

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BINANCE:ETHUSDT   Ethereum / TetherUS
I like this low timeframe TA on ETH. A test of 0.5 is highly probable but consolidation may be already done.

If it breaks the channel and consolidate above it, I'd consider the short-term trend is up. Otherwise ETH is bearish on this timeframe and bigger timeframes as well imo.
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BTC has some bullish possibilities for short-term. Not as bearish as ETH for now.

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VIX is drawing my attention.
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İnvert the chart if you are struggling with your bullish bias :D

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If it can break the flag to the upside it can easily go to 1300 but right now we have no signs that it will.
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Another interesting thing about ETH is this monthly chart. Going below is 1100 is really dangerous for ETH.

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A week ago i shared this very quick TA about S&P. Here is the update. Nothing changed yet but I think it might soon. I like simple TA.

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One bullish argument is this NASDAQ chart. But will it hold?

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If this flag fails. I see this possibility:

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Honestly the possibility above is not bad at all. It makes sense. Because I expect next leg down to be a big one.
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NASDAQ bounced where it was supposed to bounce. Not looking bad.
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Bear market is over guys. ETH will be the world reserve currency. As you can see it's outperforming best tech companies.
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This is usually a good thing. It's still bullish.

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I have 2 important levels,1330 and ~1400. I reduced size of my shorts yesterday. I'll add at this levels.
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Or I'm adding if it goes back in the flag. Convincingly.
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NASDAQ trying again.

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Volume is still very low. Some big bearish structures are broken but are whales interested?
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Low volume during this whole period. Sell volume yes, accumulation volume no.

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One can argue it's still in the bear flag.

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I do believe it'll go higher but you never know.
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Maybe something like this. Anything is possible at this point.

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This top on BTC.d surprised. Maybe, just maybe, we can see a mini alt rally before the actual pain for alts.

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Previous resistance is acting as support so far on TOTAL chart. I think it's critical:

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US stock market is still weaker compared to crypto or compared to altcoins let's say. imo. And that's a really bad thing. It gives the feeling of manipulation. Strength on alts before everything else.
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Nothing changed here. Today might be important:

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Bearish argument is bear flag to 3500. Bullish argument is a miniature accumulation range.

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I'm following COIN closely. I have a disaster scenario for it. To $10.

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Shape of last 2 candles are bearish.

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I think this is good enough. The last bounce looks kinda bullish but I'm gonna keep my bearish bias for now.

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I can't see momentum, build up, volume. But however they wanna manipulate in the end :D I have a safe short in profit and just watching for now.

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Two close tops. I would expect 3rd one and dump.

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Same for ETH/BTC. This is the obvious result of this PA. But it still makes a decent amount of people bullish.

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I'm risking to talk early but this looks like the 3rd top.

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They say bear market is over, retail is bearish etc. I can't see whales buying retail's sell orders with volume.

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Altcoins are always the noise. They are the leverage. They are retail.
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Watch VIX. If this was a coin chart, I'd say it's a redist. But this might a bottom at an important level. We have a similar instance around April.

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Actually this is a common bottoming pattern for VIX.
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Get ready for a test of your bull market.

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I didn't add to ETH short because I got a big BNB short. Nothing changed in the bigger picture. Top is already in or 1450 best case scenario. Plan accordingly.
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