This doesn't portend well.
Long bond - $TLT -
Weekly inside bar and down.
The downtrend accelerated with the double inside quarter and down. We are likely to visit the recent lows and lower and see some price discovery.
Zooming all the way out and $TLT is still trading year so it will be interesting to watch if it remains in last year's range or not.
The downtrend accelerated with the double inside quarter and down. We are likely to visit the recent lows and lower and see some price discovery.
Zooming all the way out and $TLT is still trading year so it will be interesting to watch if it remains in last year's range or not.
Monthly outside -inside break setting up which would put the larger broadening formation in play.
Personally, i wouldn't be surprised if we drift sideways until the new quarter and we see vol return in the Fall.
I'm currently in the BTC/ETH pairs trade - long BTC and short ETH via perp futures.
Structuring it this way allows you often collect funding from one side of the trade to offset the carry cost while waiting for the directional move.
The multiple outside bars have caught a lot of traders offside.
This is when zooming out to a higher timeframe helps see the forest through the trees.
On the 12-month - $BTC is clearly trading inside year and it's very unlikely we break that range.
Tactically, this still means that on a risk-adjusted basis, it's still best to sell rips and buy dips.
If you're a longer-term trader/investor then keep some gun powder dry, don't chase as you will have opportunities to buy $BTC at cheaper prices.
60m - Outside-Inside-Inside sequence triggered the break to the downside.
2 Day - $BTC outside inside and down.
Daily - $BTC currently inside day and up.
60m - $BTC going momo up (weak market structure).
We will likely see a 60m outside bar post-FOMC so be prepared for a sell $BTC post-FOMC scenario.
The buyers are currently in control so if the price breaks back into yesterday's highs, watch out for the potential for an outside day to the downside.
Now let's see if $BTC can work its way back through the BF.
#plebchain
Weekly - same pattern - outside inside and down.
If next week the buyers can somehow break above this week's highs that would be a bullish reversal but for now the 21354 pivot (the low of Feb. is now in play.
Quarterly open is way down at 16569 - so very likely the quarter ends green unless things really fall apart with less than a month of trading left.
