Rob's crypto market report for #NoHypeTraders Monday 3rd of October 22
BTC DXY THETA analysis
Hi guys, I will be sharing with you some personal trading ideas here. As usual they do not represent financial advice and you will not trade on the following scenarios before doing your own analysis. Crypto trading is a very risky endeavour and if you are not careful you can lose all your hard earned money.
If you have a different scenario than mine, I would love to hear it. Send me an email,
I always respond.
Total market cap stands at 973 bil $ on the 3rd of October 2022. Our plan is advancing and following what was drawn in June (check it here). Congratulations once again if you followed it, the rest of the planet is still just watching.
1. BITCOIN
BTC did a leading 5 waves diagonal on the weekly since June and an ABC correction that is currently finished. The support is currently sitting on the 19.000$ mark. We didn't get the drop to 16.398$ that I have been waiting for and closed the week bearly (☺️) green. I'm going to analyse the chart on the 4h timeframe both on line and hiking ash to try and grasp a better perspective :
Here it goes :
Line chart :
We're seeing multiple bullish divergences building up to a potential breakout. As I was mentioning on twitter yesterday it seems the first resistance is situated at the 22.500$ levels. If we manage to flip it to support before my next weekly analysis I'll update further on the live app.
Our plan is still valid, things are just moving far slower than expected :
Heikin Ashi :
Just a quick reminder of our plan if you didn't get the chance to go thru the updates on tradingview.
I added an EMA ribbon just to try and get even more confirmation. Price has been hugging the EMA's for some time now and I think the breakout should occur in the next couple of days. If this move doesn't start happening soon we may have to start considering the ultra bearish scenario that extends the correction to the 1.618 fibs level of A corrective wave from April 2021 (6k). As bad as this sounds considering we have already entered positions, if somehow it happens we can really charge up our account there (not much money left to buy at the moment, might have to ask my dead grandma for help 😁 ).
Will update with my personal trades on the live trading channel.
2. DXY
Updated chart:
Rejection on DXY last week, as considered previously at the 0.9 fib retracement level from the move up from 20 years ago.
The RSI is heavily overbought on the weekly chart forming another bear div.
BE CAREFUL !!! This happened a few times more in the last couple of months and was invalidated afterward by hidden bull divs. nobody is talking about this "double trouble" situation on social media. Everybody is either bull or bear with different arguments, usually pretty weak ones. I see guys that do good TA but don't present the full picture. This way many traders get trapped and don't even know why. Learn about divergences and how they invalidate one another. It's crucial for "reading" charts correctly.
I will update on the live trading channel.
3. THETA coin
Fundamental info : THETA is one of the few projects that complies with the SEC rules and was previously vetted as secure. We are seeing a retest of the lows with bullish divs on both RSI and MACD.
let's zoom in :
bull(ish) : 4h close and retest over 1.140$
bear(ish) : 4h close under 0,95$
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Go bulls !
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Disclaimer : the opinions presented in the following report are my own and DO NOT CONSTITUTE FINANCIAL ADVICE. Cryptocurrency trading is a very risky endeavour. You can and probably will lose your money if you do not do your own research.