My nickname is 'Wolf'. I was a fairly popular #Crypto trader on Twitter reaching over 130K Followers before getting banned from the platform for trolling to much. I have since 'rebranded' to a more professional image and have left the Twitter-verse to branch out onto more social media platforms such as TradingView, Facebook, Discord, Telegram, Twitch (twitch.tv/thewolfreloaded), Medium (medium.com/@wolfreloaded) and others that I am currently working on creating. Hope you enjoy my content, cheers!
I'm going to start sharing my ideas on here. I've been fairly weary about buying or entering any daytrade long positions at current levels due to the alarming amount of bearish indicators being shown.
Rising Wedge
Daily Overbought StochRSI
Bear Divergence on multiple timeframes, Daily being the most pronounced
Large Ichimoku Cloud Resistance
Weakening Buy Pressure
High Bollinger Band on Daily
At Level Resistance that could turn into a neckline for an Inverse Head & Shoulders
I believe that the market is just waiting on the sidelines to see what happens. Either 'Spoofy' can push to make Bitcoin liquidate some shorts, or we'll continue to go sideways until we break the support trend > algo bots trigger stops > daytraders trigger stops > noobs panic-sell. With this being said, I think that the market sentiment is rather bullish and we should see a lot of support on the previous downtrend line which will now become support. Also, there is a clear level support below from our previous accumulation point.
From a market mentality point of view, I think that the markets are waiting for this to happen which has bulls waiting on the sideline to increase their positions. I don't think we'll retrace far so whatever sort of healthy retracement occurs will most likely look like choppy waters as the 'Right Shoulder' is made in Rectangle sideways action. With such bullish sentiment, the 'Right Shoulder' is usually a lot smaller than the left shoulder as it's prematurely confirmed to continue the rally upwards. However, we could see the retracement go as far as the Daily Bollinger Band Basis line which should interract with the Lower level displayed in the chart.
All of this being said, I think the safest play is a Short with the stop above the Rising Wedge, incase it turns into a running wedge and a low-leverage Long to hedge against any losses on the Short. Should the Short turn into profit, you can wait until the retracement is complete and add to your Long for a better position on the next push upwards.
The current state of market is in 'FOMO' mode, however this FOMO mentality can be very dangerous, especially if you're new. The retracement is used to shake out weak hands and is always healthy. I also believe we'll be seeing 11K, but understand that it needs breaks on the way there to accumulate margin positions as rocket fuel.
交易结束：到达止损
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I was stopped out. My mistake was that I thought the market would all correct together, I didn't think that the 'Cryptocurrency Life-Cycle', as I call it, would become resurrected. This is the cycle when alts and BTC pump back and forth into each other creating stronger rallies for each.
gonna have to agree on this one! beautiful chart C:
JKent
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My thoughts to a T, nice one Wolf.
cryptowale_com
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Good analysis as always bruh. :D
TheWolfofPoloniex
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@crypto_DaVinci, <3
jurepetrovic
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Hi Wolfie,
and I was beginning to wonder why are you so quiet on Twitter :) I kind of miss
your trolls...
Personally I'd say short is quiet a bold move in this FOMO environment. But I would welcome
a small pullback to extend my long positions :)
Really curious to see if this iH+S of yours crystallizes... ;) That head looks a bit too roundy for my taste.
@positonic - Let's see what happens this morning as the US open :)
TheWolfofPoloniex
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@jurepetrovic, Good times. But yeah, the market is pretty FOMO'd out. I actually have a hedged 100x long position in case my analysis is wrong, haha. But I think we do need a pullback. The only thing I see that is dangerous is that so many people are like you, and me, and are waiting for a pull-back just to get into a good / better long positions. However, I'm hoping that a break in the support will cause a large cascading drop that triggers the recent bearish fear.
positonic
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Sounds good, let's see what happens this morning at the European open