Surfing The Market #4

By MikeZillo | Trading with Mike Zillo | 10 Jun 2022


What market phase are we entering into has been the introduction question of the last appointments. But here, in the last week (like the earlier one) nothing so relevant happened. So I will be quiet brief.

Let’s start from our usual weekly perspective

Trading

Weekly Chart

The weekly candle is still reacting onto the green line, acting now as a support and a potential liquidity pool that has created an upward rejection of the price that has been absorbed back.
We see that another empty body (for the moment) weekly candle has is in development.

This moment is nice to create some accumulation of our reserves, without taking too much risks, like I did just yesterday. That the Order History from my Binance account

Trading

With a small operation (executed a few hours ago, during the small downward spike) I accumulated 0.0012 BTC. That’s something more than 30 dollars and less than 40 dollars, but I spent a few minutes to do it. So I think it was worth the effort.

What do I expect from a daily perspective?

Trading

Daily Chart

Here is a daily chart, where the usual continuous red and blue lines are still clearly visible.

Price is still ranging upon the Green Line, but this time a breakout upwards (and downwards) have been attempted. For the moment such movement both movements have been absorbed gathering liquidity from newbies. But working with tight position allows me to reduce such risk, like you saw in my trading position.

Trading

Daily chart

Ichimoku are now on a stable range and the price is getting much closer to the Ichimoku area making a price reaction. I was expecting a fake breakdown and it happened a fake break-up. Not that bad, considering a low-risk accumulation trading behavior.

What to observe particularly?

Stochastic is rising towards the overbought area but I want a strong breakout of 32.000$ before considering a long position, entering into the Ichimoku area.

The price is still in a very uncertain area so this time, but I would like,again, to see a short squeeze before a nice bull trend.

Let me know what you think about this new weekly appointment, and what indicators you would like to be taken into consideration more (or even explained).

Stay tuned and be sure to follow to get noticed when my contents come out.

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MikeZillo
MikeZillo Verified Member

Daily Trader, Mining Farm Project Manager, Blockchain consultant, Cryptocurrency evangelist. You can find more videos here https://www.youtube.com/channel/UCvyXx6I1C__zmLAYUXNZwQQ? Telegram: @mikezillo


Trading with Mike Zillo
Trading with Mike Zillo

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