NEVER LET YOUR GUARD DOWN, BITCOIN WILL KICK YOUR A*S IF YOU DO!
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
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More Power To All Your Trades, Ron (The Intrepid Trader)
FU Moves are very common, so place your stops at appropriate levels.
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Bitcoin Cycles Of Rise-Peak-Drop Rinse & Repeat
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My 5 year old kid just made $3000 on this trade. I'm getting him a new pair of shoes for $19 and the rest will go into his Bitcoin account when price gets discounted again. Rinse and repeat.
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What's Bitcoin's next move?
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The Bearish Divergence has eventually been fulfilled. What's happening next?
Bare minimum for bulls would be breaking through R1.
Otherwise this would be just a pullback to previous support ( and short term dynamic resistance ).
Anyway on daily ( so far ) both MACD and RSI did break up their respective falling wedges.
We'll see the close, but hopefully that's a good sign for the next few days.
Golden cross incoming(inverted chart)+ identical to Nov 2018-April 2019 market structure = another 1K drop??
RSibayan
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@CryptoBullet, An uncanny resemblance. It’s fascinating how you see things like these on the chart. Nice work. Another 1K drop... oh definitely not impossible with Bitcoin. Thanks for sharing, always appreciated.
f-73
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I hope you're right.
I shared yesterday weekly RSI chart, here is Weekly OBV.
At long term support.
Due to many high TF indicator being at support i think Bitcoin lives a "make it or break it" situation here.
I'm as well biased towards a Bullish impulse, but cannot rule out a spike down / failed low to atually ignite it.
Looking forward to monday.
RSibayan
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@ft-73, I agree, it a pivotal moment for Bitcoin. A long awaited moment by everyone anxious to know where Bitcoin might go. That long pink support line on your chart is supporting a lot of price for such a long time now, breaking downwards could spell disaster or an opportunity to get Bitcoin at some steep discounts. Either way Bitcoin goes, its always an opportunity to make money. Thanks for sharing, love your work!
Now it comes the tough part.
Bare minimum for bulls would be breaking through R1.
Otherwise this would be just a pullback to previous support ( and short term dynamic resistance ).
Anyway on daily ( so far ) both MACD and RSI did break up their respective falling wedges.
We'll see the close, but hopefully that's a good sign for the next few days.