LeMogwai
Long

Uptrend still in play, about to make a new leg or a correction

BITFINEX:BTCUSD   Bitcoin / Dollar
1107 7 14
Don't be fooled by the bears, we are still above the kijun of the daily cloud and above the trendline. We are in this uptrend from mid-january.

We are above a small trendline that suggest a new leg up coming today or tommorow.

But we can also correct to the major trendline in the 255-262 area, that could be a perfect place to buy in with a stop loss below the trendline.

To be fair with the bears I also tried to predict the possibles paths in case the major trendline will break down.

Right now the most probable path in my opinion is the "A" one.
Douglas-Squirrel
2 years ago
are you a bear in a moon suit?
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LeMogwai Douglas-Squirrel
2 years ago
yup ! Wanna be the first bear to short the moon :)
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Douglas-Squirrel LeMogwai
2 years ago
awesome, what is your 1st target for shorting the moon? or would that be the 1st asteroid on the way to the moon?
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LeMogwai Douglas-Squirrel
2 years ago
if we break the trendline that lead to "C" & "D" or once we hit the upper trendline at "A" or "B" :)
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Douglas-Squirrel LeMogwai
2 years ago
is the upper trendline the long term downtrend line (log)?
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LeMogwai Douglas-Squirrel
2 years ago
absolutely :)
snapshot
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norok PRO
2 years ago
As an Ichimoku expert would highly recommend you increase the Line Size on your Senkou B rather than your Senkou A and begin to pay attention to it's significance in Support and Resistance.
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