In the times like this where uncertainty, doubt and fear takes the market, smart money comes in and pushes the market up. After every bull market that we had since the beginning of the BTC we had consolidation phase in the shape of ascending triangle. After the first bull-run from the breakout we had 1100%, after the second 350% and if we continue that growth BTC should go up 110% after the breakout. The support line had one small fakeout because of the pandemic but it bounce right back up. The history has showed us that this is a perfect buying oportunity and i am glad that i have a chance to use it.
What do you think about this support line and ascending triangles? Feel free to leave a comment.
If you like my ideas please follow me and like the post because i am posting every day and you can find always something interesting on my profile, i am new to Treadingview but i have 6 years expirience in trading.
I entry LONG 30.00x Entry price 39330$ Liq price 38180$
Do you think I should close the position? What is your prediction?
Mladen94
⋅
@filmlerdekiadam, I would never trade with such a big leverage. I exited my short possition one hour ago and i am waiting for a buy signal. I am sorry i can't be more helpful.
filmlerdekiadam
⋅
@Mladen94, Ah thank u If the signal comes, can you write it here?
Mladen94
⋅
@filmlerdekiadam, I am most likely going to make post about it, if not i am going to message you personally.
louistran_016
⋅
interesting take, long term looks healthy and bullish, but that double top setup is so similar with March 2020...
Mladen94
⋅
@louistran_016, yeah that was corona dump that had us all surprised, but if you look closely we closed the next monthly candle above the 10 years support line. I am going to be perfectly honest with you, i have some money on the side to buy if we break the line because of the war. On the other hand i don't want to lose this buying opportunity if we go up from here. Thanks for your comment.
louistran_016
⋅
@Mladen94, agreed the risk to reward is favorable here i heard so much doom and gloom from the media, yet the chart proves this condition has been great entry for crypto, growth and QQQ in general in the last 12 years
silvestremelo100
⋅
Interesting…. What’s your take on MA200 when you look back at 5-year history of BTC prices? It ‘suggests’ MA200 will cross it, continuing the down trend… what’s your view?
SuperMario4
⋅
yeah but can you seen that frightening decending RSI on the monthly? If that's not a bearish divergence, then I don't know what is lol
Mladen94
⋅
@SuperMario4, what is frightening about hidden bullish divergance on the monthly?
30.00x
Entry price 39330$
Liq price 38180$
Do you think I should close the position? What is your prediction?