Full Time Trader | Stakeholder @Balcore_AI
Joined July 2024
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Most of you have never read a technical analysis book, so I’ve put together the TOP 3 lessons I’ve learned about S/R levels throughout my 7 years of trading.
1 - S/R Flips
2 - Extended Rejections
3 - Break of Structure
(No AI)
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Sources & References
John J. Murphy // Technical Analysis of the Financial Markets (Chapter 4): Support and resistance and price level psychology.
Rubén Villahermosa // The Wyckoff Methodology in Depth: Accumulation, distribution, supply and demand, market reversals.
James F. Dalton // Mind Over Markets (Chapter 4): Auction market theory, price acceptance and rejection, market structure.
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Great 4-minute watch, I couldn't agree more.
My take on the state of $btc right now and why it will never move like it used to do back in the early days.
(Probably gonna get grief for this from the maxipads but meh)
youtu.be/2HGldAdfgJA
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I think this is one of those news that will be overlooked pretty quickly by traders, especially since it's a "personal" fuck up, not a company product.
However, It wouldn't be surprising if more and more bad news about this whole situation gets light and the stock continue pushing lower each week.
I think the implications of this news won't be over with a 5% dump.
Breaking News: Nvidia opened an investigation into Jensen Huang, its CEO, after he acknowledged to the company’s board that he had been intimate with a business executive who U.S. intelligence determined to be a Chinese spy. nyti.ms/3ViPMAt
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Thank you so much for all the support on these graphics!! I’m so glad you guys are finding them helpful.💚
I’m working on a new batch, so comment below if there’s any particular subject you’d like me to draw!
Just took my first trade of the day. 🚀
You can find it on my Free Telegram:
t.me/+8HQWOCl7t3A3MGY0
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$BTC - #Bitcoin
Bitcoin is consolidating above resistance, which is a bullish pattern.📈
$80,000 is psychologically and historically a major resistance, so it's safe to assume that traders who went long before the pump are taking profits. There will also be traders closing longs that have been underwater for more than a week.
The challenge here is to determine whether this pump will form another lower high or lead to an expansion.
In my opinion, breaking below $80K wouldn't immediately change the local bullish structure. However, the uptrend vWAP sitting at $79K is a major support level. If that's lost, I'd be more inclined to look towards $74K next.
As things stand, Bitcoin is in a bullish consolidation that's more likely to lead to an expansion.
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ethereum:native
Bouncing from the Bull Market vWAP.
Extremely sensitive days ahead. I think we're going to see very high volatility for the rest of the week.
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