22nd November 2021 > > Technical Analysis.

tl;dr

A quick bit of TA for the believers (that's not me by the way).

Market Snap

Market Wrap

Move along now, nothing to see here.

Occasional Series – Watford FOUR Man. Utd. ONE

“I am over the moon about finally fulfilling my lifetime’s ambition of playing on the hallowed turf of Vicarage Road. The icing on the cake for me was that we only lost by three goals. I was rather expecting a right proper pasting.”

Christiano Ronaldo, MUTV interview just after the game.

Occasional Series – An apology

Following the match on Saturday, I woke up Sunday with a sore head in a bed in Maidenhead.

Between you and I, that town is not particularly close to CCC towers.

In one of those strange quirks of fate, I found myself in an identical position this morning.

Normal service for the CCC has now been resumed.

Curious Cryptos’ Commentary – Technical Analysis (TA) by resident techie Larry

Here’s an update to the chart.

The BEAR flag has been invalidated. But this is how I would have played this pattern. Remember, the TA wasn’t predicting a $51k BTC, it’s just projecting what the patterns indicate to assist with risk management (when to enter, when to exit, where to stop loss).

I would have been stopped out of a short and then taken a long position when the price rose strongly through the bottom of the yellow triangle. With a new Stop Loss for the long just below the yellow triangle line:

That long has now also been stopped out.

Some key takeaways:

1. I would never short BTC in an overall BULL market trend as we now have.

2. I personally wouldn’t long or short the current price action until a stronger short-term trend is apparent.

3. If I was to trade it, I would range trade – set upper and lower range boundaries and ladder in towards the lower range and ladder out towards the upper range.