Category: Crypto Markets

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The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.

The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.

7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.

23/4/22 update: The NASDAQ continues to move lower reflecting a risk-off sentiment, which is also impacting Bitcoin. BTC is under Algo Engine sell conditions and we remain short Bitcoin futures as an open trade.

26/5 update: Bitcoin has continued to trade lower and we now identify the overhead resistance at 30590 as the first level to watch for a potential price reversal. Since flagging the “short” setup in Bitcoin on 7 April, the crypto has lost 15,000 in the move from 45,000 down to 30,000.

15/6/ update:

1/6 update:

After being short Bitcoin from $45,000 down to $30,000 we now shift our focus to the recent counter-trend trade as the price action breaks above 30590 and begins to build support on top of the old resistance.

Buy BTC @ 31700

Stop loss on a break below 30590

The rebound in the NASDAQ has been sharp and it’s possible we’re now looking at a level of overhead resistance. For crypto investors, this provides an opportunity to consider hedging or an outright short position.

The strategy requires a stop loss which means any short exposure is closed out if the market rally continues.

7/4/22 update: BTC-USD has rolled over and the technical setup remains negative.

23/4/22 update: The NASDAQ continues to move lower reflecting a risk-off sentiment, which is also impacting Bitcoin. BTC is under Algo Engine sell conditions and we remain short Bitcoin futures as an open trade.

26/5 update: Bitcoin has continued to trade lower and we now identify the overhead resistance at 30590 as the first level to watch for a potential price reversal. Since flagging the “short” setup in Bitcoin on 7 April, the crypto has lost 15,000 in the move from 45,000 down to 30,000.

We’ve been waiting for an increase in positive pivot points to support our interest in short-term trade setups. The shift to a green arrow, (positive pivot point), combined with the primary Algo Engine buy signal is the pattern we tend to focus on when establishing short duration trades. i.e 7 to 21 days.

Referencing the initial display of the green arrow is the first indication that buying interest is beginning to rebuild. To put this into context, last week we had 2 out of 14 coins displaying the short-term setup, today we have 10 of the 14 coins.

To further filter the best trades from the 10 qualifiers, we tun to the stochastic oscillator to provide some discipline around the entry timing. Cosmos, Kadena and Oasis now meet our filtering process.