AnkitSalgia

“Patience is the key”, Bitcoin will breakout soon

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
For last few days, the current price range has been getting very less volatile and the volume has been getting lower and lower. I think I have a reason to explain why its happening?!
As I have published earlier Bitcoin primary trend is downward, we have got another confirmation of it with the formation of Descending Triangle . Triangle patterns serve as a consolidation phase where price regains the strength it needs to proceed in its primary downtrend.
As we can see the nice descending triangle pattern with volume confirmation shown in bottom of chart. Next thing to look at breakout is surge in volume . If there is substantial volume , price will hit our bottom target ($7,000) easily..

Just stay tight in your short position with stop loss and target mentioned earlier, this article is just follow with people to remind “patience is the key”, as we are getting more and more positive signal to support our analysis. This formation make this idea stronger for me.


Do your own research and if this matching with mine then you are ready to go!

Please, take a second and support my effort by hitting the "LIKE" button, that the only fee from You!


Trade active: There is no surge in volume with price, the volume should have gone up on day chart for past 4 days but its not. The volume is descending day by day with price going up (suggest weakness in upward rally or false upward rally)..

this could be a trap setup by big fishes for moving out supply and showing $$$$ on books?

Stop loss at 10,300, if price able to sustain above 10,300 (making bullish candle above price on 4 hr chart) than exit from short.

Trade closed: stop reached

Comments

Hi!

I have also expected a drop in price until yesterday evening (aprox. 24h ago) and few hours back I also noticed that some huge "walls" on supply side had just wanished.

It looks like fresh money has come to Bistamp which I watch :)

I am expectiing rise in price in range 5-10 %. I did my homework and this is the result.

What do you think?

BR R.
+1 Reply
AnkitSalgia Ruckusman
@Ruckusman, Its hard to say if it will go up from here because I am more technical guy and I don't see indicator suggesting that yet, I am not saying it won't but don't see now.
+2 Reply
Ruckusman AnkitSalgia
@AnkitSalgia, Hi! I can also say that I am technical guy with love to mathematics. I am trying to predict future movements so I do observe supply and demand. And I noticed that if there is more $$$$ on Bitstamp then price goes up. If number of BTC increases that mostly means that price will fall. Very simple.

Currently I see more money and less BTC => according to my theory the price should go up. And so far it looks fine. I have estimated that price shouild climb to some 10200, then I will have to check again where we are. I see changes in supply and offer since monday.

I also try to use support and resistance leves.

There is also FED with theres mathematics, which will make decision today (few hours from now) ;)

But the time will tell. The God of BTC will decide the movement that we hadn't expected :)

BR R.

+1 Reply
AnkitSalgia Ruckusman
@Ruckusman, Thanks!! I appreciate your view and its good to have discussion. We need each other help/ view to defeat big fishes and make good profit.

I agree with your point the trade book are reflecting otherwise but the there is no surge in volume with price, if what you saying is happening the volume should have gone up on day chart for past 4 days but its not. The volume is descending day by day with price going up (suggest weakness in upward rally), Do you think, this could be a trap setup by big fishes for moving out supply and showing $$$$ on books?

I have placed stop loss at 10,300, if price able to cross and sustain above this level there will be upward wave.

Lets keep in touch to share ideas!
+1 Reply
Ruckusman AnkitSalgia
@AnkitSalgia, Hi! I am in this crypto world since 13th december 2017. That was 4 days before ATH :)

I tried many parameters, indicators, mathematical formulas, crystal bowls, etc .... but so far no success.

Then I tried other way. I am Bachelor of Economics and I think i can crack this case(I paid lot of money for my education ;)) .
Then I got enlightment when Yoda said: "you should return to basics (not the programing language that you used in old days, but basics of economics) :)

And I started to monitor supply and demand. So called open interest. Next step will be conjunction with traffic volume.

So far I have noticed that big quick changes in supply / demand sooner or later reflects in price of asset.

Only problems is that these changes reflect sometimes very quick - in few minutes. Or sometime (like this case when I noticed 2 days ago -. tuesday morning) they take some time.

But I will speculate and say that this change may be in range 10-20% in plus for BTC . Timespan? Huh ... lets try with up to 3 days from today.

This is pure speculation but It might be 12,5k price reached to the end of this week.

Low traffic? Hm, perfect terrain for big price manipulations. :) :) :)

you said: "could be a trap setup by big fishes for moving out supply and showing $$$$ on books"

If I remember right you are probably thinking of "bull trap". Price rises with low volume until the end of month (so the books look great) and them kabooooom (like in cartoons ;)) .

What about FED which will have it's meeeting in 3hours if I have calculated right?

Thank you for your debate and Best Regards, Peter.

Reply
AnkitSalgia Ruckusman
@Ruckusman, Good Call..
Reply
I hope you'll burn thanks to the golden cross.
+1 Reply
AnkitSalgia trenncost
@trenncost, lol I think that's there is something called Stop loss.. and you can't be right every time, its analysis prediction of it.
Reply
AnkitSalgia AnkitSalgia
@AnkitSalgia, the point of stop loss is to prevent you from burning.
Reply
Good short set up buddy.
Reply
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