My Swing Long Trading Idea & Market Overview🚨
(Why I Think a MASSIVE Short Squeeze Is Coming)
Technical Reasons For Swing Long
-Loads of confluence at major support (channel low, .618, weekly order block, 50K psychological)
-Daily close confirmation back into our channel paired with tons of break out shorts being trapped back into the range
-Forming clear HTF bull flag
-Still expecting 5th wave up of Elliot Wave cycle
Fundamental Reasons For BULLISH Bias
- Fresh off 2 of the largest liquidation events in crypto history (liquidity cleaned to the downside)
-Market Sentiment is overwhelmingly FEAR
General Market Thesis
-Market is in a state of fear as we are bouncing off very strong levels of HTF support. Adding to this, we have just seen all of the liquidity to the downside cleaned up while NONE of the liquidity to the upside has been touched (no HTF break in structure means little to no liquidations). As you can see in the liquidation heatmap, there are massive amounts of liquidity pools resting at those swing high points - markets hunt liquidity. If we are to see further downside, we must clean those highs first at least imo. If we do get the squeeze and liquidations to the upside, I will only take a short if we close back into the range for the same reasons I took a long from the bottom of the current channel. If we don't get a daily close back into the channel I would expect much higher very quickly (a.k.a massive short squeeze)
- Overall I am expecting ATH from this bounce. I have taken 25% profit at TP1 but NOT moved my SL to entry because of this theory to give my trade a little more breathing room if we get a retracement from our relatively strong TP1 level.
Happy New Years my fellow frogs 🥂
In 2024 we were able to set ourselves up for the rest of our lives.
In 2025 we will have the opportunity to set our families up for the rest of their lives. Time to retire our bloodlines. Don’t mess it up.
Love yall 🤟🏽📈 $Pepe 🐸
Now would be a great time for $ETH to have a big rally against $BTC.
As you can see on the ETH/BTC chart, Bitcoin has consistently outperformed Ethereum this entire cycle. I believe we are entering very strong HTF support and Ethereum will finally have it's rally against Bitcoin.
We have multiple confluences in the current zone including:
- Overall Range Point of Control
- .618 Golden Pocket
- Untapped Monthly Open
These are all major levels of support for me and I expect a strong bounce and rally for $ETH in the near future. Position yourself accordingly. ⚡️
Give this spaces a listen if you have some extra time. Had a great talk about short term corrections and market conditions for cryptocurrency this cycle.
Respect to @cryptomanran for his insights and $BTC projections. Seems we have a very similar thesis and trading system.
Hmmmm 👀
Appears we are getting the drop on BTC.D at the exact level I had talked about originally back in late August and again in late October (see quoted post).
This is largely because of the massive pump on $XRP which is not surprising. The way money will flow from Bitcoin into Alt Coins will most likely be in this order:
1. High Cap Alts ( $XRP, $SOL, $ETH, $SUI)
2. High Cap Meme Coins ( $Pepe, $Wif, $Brett, $Doge)
3. Lower Cap Alt/Meme Coins
Money in the Crypto space tends to trickle down the risk curve - starting with pumps from lower risk assets and making its way down to higher risk assets.
This is likely just the start of a 2-3 month Alt coin run imo. Things may get really volatile - position yourself accordingly.
$BTC.D (Bitcoin Dominance) Will hit 60-62% before falling off a cliff and kick starting meme coin season.
I have been talking about this scenario for months and we are finally closing in on our big resistance level.
Position yourself accordingly. 🫡
🚨New YouTube Video!! (link below)
After a 2 month hiatus I’m back. Planning on doing a weekly update from here on out as well as some other great content on Alts.
In this video I explain my bearish bias on $BTC and my potential short setup.
https://t.co/hwKxyM7Kqk