HFD aka The Technician
HFD aka The Technician 5 minutes reading from Bitcoin

Bitcoin’s Jan ‘Crypto’ Setup Is Unsustainable

Unsurprisingly, many of my Jan Crypto setups are now invalid or missed long trades, due to the heavy 🐻 bias during screening.

Those that are left represent excellent R/R if BTC corrects off this pump, or are @ tipping points for a perfect long entry if prices squeeze

1/6

Crypto 🐂 & 🐻 Setups - Support & Resistance

BNB - Stalled @ previous resistance / short reversal / long breakout BSV & FXS both stalled @ descending resistance/short reversal / long breakout LOOKS - Stalled @ falling wedge resistance / short reversal / long breakout

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Crypto🐻 Setup - Support & Resistance

SOL - Approaching previous key support / short if flipped into resistance

The daily 200 SMA has confluence with potential resistance & would be a classic TA point of reversal for Solana

3/6

Crypto 🐻 Setups - Descending Triangle

AAVE - Still in a DT / stalled @ previous S/R & the golden pocket. DB target could invalidate setup

CTK & SNX both produced a perfect rejection from DT resistance

4/6

Crypto 🐂 Setups - Falling Wedge

BICO & OGN - @ falling wedge resistance / awaiting breakout for long or reversal for shorts with clear invalidation

DGB & FTM - Falling wedge breakout confirmed with a few targets left

5/6

Crypto 🐂 Setups - Falling Wedge & Channel Breakout

SAND & GLMR - Falling wedge breakout to weekly mean reversion / awaiting follow through or S/R flip

XMR - Fib channel breakout now stalling @ 1W POC. Ideal entry = flip previous resistance @ 160 into support

6/6

This post is based on this twitter thread.

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