CME Bitcoin futures open interest hits an all-time-high!

Bitcoin Macroview

On higher timeframes, Bitcoin is testing the last major resistance before $14k (2019’s high).

By the end of this week, I expect battle around this area but the close above $11 500 on tomorrow’s weekly closure will indicate and trigger $14k as the next target.

Bitcoin got rejected from $11500 resistance point even though at some point it was way above it.

Now what I expect is slowly grind back to that resistance point and then we will see what happens next.

I still think it’s very strong resistance and that it won’t be broken easily and that it will take some time until we see a potential break of that region and move towards next resistance at $14k.

💵 200,000,000 #USDT (200,392,584 USD) minted at Tether Treasury

https://whale-alert.io/transaction/tron/07a478874aefb60fef229c8f9c873849e5a6a9c4bde76b3388c477ea00350f64

ETH/BTC is retesting bear market resistance at the moment.

As long as the main support at 0.023 holds, this is a bullish chart.

It will be interesting to see how it will react to this strong technical resistance level.

If it gets broken, 0.05 is the target to aim for!

Number of addresses holding 1k+ bitcoins reached 2193. It's a new maximum. Last maximum we had on 27 September 2019 - 2191 addresses.

Bitcoin is approaching the last 24h before weekly close above $11500 resistance.

In the case of a close above this price point, the next target point of $14k will be triggered.

In the case of rejection, we are looking for pullback support at around $10500 price point.

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Ethereum is currently sitting at the $400 resistance 12h from the next weekly closure.

This is a little bit hard area to form the next setup that’s why I will drop to a daily timeframe for that.

The moon target for ETH is $700 while the pullback support is in the lower red zone at around $290.

This is the daily consolidation between $360 and $400 I’m looking at.

Once we see a break from it, either upside or downside, we will get the next trade setup.

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ETH/USD is still in the consolidation right at the resistance.

Close above on important timeframes (daily at least) and we can shoot for the moon target ($650-700).

Close below and we can target pullback to $290-300 area.

Bitcoin testing $11500 support area. At this moment, it still makes higher lows so in general, this is still a very bullish structure but if we see closure on the daily timeframe below this support, we can see deeper correction into $11000 area (midpoint between those two supports).

Is XRP about to moon?

After months of a bear market, XRP is finally looking solid after reclaiming the broken support area.

If it stays above for next week or two, this can be the next major altcoin to make some great moves to the upside, similar to Ethereum.

Is XRP about to moon?
anonymous poll

No – 261
👍👍👍👍👍👍👍 65%

Yes – 140
👍👍👍👍 35%

👥 401 people voted so far.

ETHUSD closed above the consolidation area and if it remains there for the next 2 daily candlesticks, we should see continuation towards the moon target of approx $700.

Be aware of the potential wick into $400 zone as a form of the test but as long as the close remains above the resistance, the target is still the same.

Wicks can be much deeper but the closure is what we should focus on and what will determine further direction.

In your opinion, is ETHUSD going to reach the ultimate moon target of $700 in the next 30 days? Why 30 days? The entire move up was parabolic so should be the continuation and if $700 will be reached, it should be within the next 30 days.
anonymous poll

Yes! – 176
👍👍👍👍👍👍👍 56%

No! – 85
👍👍👍 27%

I have no idea! – 54
👍👍 17%

👥 315 people voted so far.

What does it take to win as a trader?

Many people think that successful traders know something they don’t. The actual reality is quite different.

You as a trader can master only one thing and that is your mind. When I say your mind, I mean set of actions you take in different situations. What you do when there’s certain setup you were waiting for, what you do when trade hits sl or tp, what are the set of thoughts you deal with after losing or winning trades.

What people don’t realise is that winning streak can be fatal for you maybe even more than the losing streak.

Overconfidence is as bad as not being confident in yourself and the setups you trade.

This is what you can work on and what should and must be improved every single day because the trading success is a journey not a destination.

The problem is that the majority focus on the wrong thing. They think success comes from having information before the others, having the indicator others don’t have, secret strategy they keep in secret.

This thing does not exist.

If you interview 10 profitable traders, most likely you will get 10 different strategies but all they have is their self-management where they know when and what to do.

Taking break at some point can help you way more than executing a winning trade.

Don’t focus on 1 trade, focus on system and tens and hundreds of trades because only if you follow your strategy consistently, you can expect to see improvement and positive results.

Don’t be afraid of mistakes, losing trades, bad moods. It always happens and it’s up to you to prepare for those times and know what to do when it happens.

Some people take break, go walking, spend some time with their people… Do something that you feel that helps you!

Master youself because you will never be able to outsource the rest of traders and know or have something they can’t get in touch.

New record reached in number of open positions, together with unregulated platforms, $5.8 bln.

Bull market coming?