StormTrading

🔴 #BitcoinFirst time in a while where price bounces and open interest isn't inflating hard with it. Looks to mostly be shorts covering that made for this move but still good to see longs not directly aping back in. $BTC Remains range bound between 27-28K.

🔴 #BitcoinWeekend Price action around the CME Close price didn't do anything as per usual ✅ Still nice when it comes back to the starting level at the perfect time.

🔴 $ETH Week of sideways price action, +14% Increase in Open Interest. Big move coming either way.

🔴 #BitcoinImportant weekly close again this week. $BTC Attempted a break above the Weekly 200MA but failed to push through as of yet. If we do see a weekly close above, that would be a nice sign of strength for the higher timeframe trend.

🔴 $GMX Important area to hold to set a higher low. Many $ALTS showing similar structures. Some stronger than others. If these alts want to turn this into a higher timeframe reversal, it's key to start bouncing soon.

🔴 #BitcoinNothing special going on this weekend. Would expect volumes to pick up a bit soon but ultimately we should be hovering around this price region until futures open back up tonight.

🔴 $ETH / $BTC Where are you looking for a bounce? Technically ETH is still hovering at this high timeframe falling wedge but failing to move. 0.055 seems to be the main area of interest by many.

🔴 #BitcoinSitting right at the bull market support band. Important to see whether it can close above it this week. This will give a good idea of where this wants to head next.

🔴 #Bitcoin Open Interest cooled off a bit during the weekend as some positions on both sides closed out. Doubt there's much to grab anymore in this range around $28K as we've mostly just moved around that level during the weekend. Let's see what next week will bring!

🔴 #BitcoinWeekend CME Price Action: I will say that with BTC sitting around this big $28K level which has the Daily/Weekly 200MA sitting there, I am personally not very keen on shorting any deviations above. In the past, we've often seen a weekend breakout at these kinda spots which tend to not retrace as easily as they otherwise would. Trading around the CME price is best practiced during a ranging & choppy environment. We are still in such environment but that would likely change upon a strong break above this region. Hence me not being too eager to short immediately in case we'd see a weekend pump.

🔴 Tiny move but still a rather big ($10M) long squeezed out on $ETH just now. Weekends are made to chop up overleveraged positions. Be safe with your stop losses if you're trading.

🔴 $BTC.D Slowly grinding back up after re-testing the previous range high. This rise is mostly led by $ETH which has been giving up a lot of ground against #Bitcoin. Levels of interest on the chart.

🔴 #BitcoinOpen Interest hit the 8.7-9.1B region again where we've recently seen a lot of squeezes occur. This has usually been a short squeeze (up) into long squeeze (back down). We saw this yesterday again. Good to keep an eye on this region.

🔴 $ETH / #Ethereum Which will it be? Green, Red or neither?

🔴 $AVAX One of the better looking charts on both high and low timeframes. ~$10.7 is the next area to watch out for. Flipping that should leave room for further upside.

🔴 #BitcoinWhether the Daily 200MA (Purple) or the Daily 200EMA (Blue) gives in first, will likely determine the trend for the rest of October if I had to guess. $27K & $28K. The battle continues

🔴 #BitcoinA few days into October is up a tiny amount but has already seen a lot of volatility. Would not be surprised if the increased volatility will continue on throughout the month and the rest of Q4.

🔴 #Ethereum Levels are pretty clear. Currently holding at the 4H 200MA/EMA and at the middle of the range. Liquidity above was swept during the last push up but the $1600 region seems to act as a solid base. $1750 is the level to break for a higher timeframe reversal at some point.

🔴 #Ethereum Trading at the bottom if this giant falling wedge. Really struggling to make anything happen. My plan is still to wait for this to break out above ~0.065 or alternatively on a re-test of the ~0.055 level below.

🔴 #BitcoinLiquidation Map Some big clusters mainly around $27K and $27.7K. Could cause for a bit of a squeeze once those levels are hit.

🔴 $LINK Trading at the mid range after making yet another lower high. The moment this does start breaking higher I suspect it will be a shift move. That $8.5+ area has been tough to break though.

🔴 So far so good. #Bitcoin gaining against $NASDAQ. Important area coming up soon. Overall $BTC showing a lot of relative strength but obviously still struggling through the overall market carnage.