Hope this idea will inspire some of you ! If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video. Don't forget to hit the like/follow button if you feel like this post deserves it ;) Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum. You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
You might be right. However, the price action the last 2 weeks and overall pattern was similar to May of 2014 with 10+ days of accumulation and a longer triangle. Plus we had records shorts. You can see that the move after that time produced a 15 day bull run that never had a meaningful pullback. I think the close today will be important.If we flag and close near highs I would not be short.
Everyone is screaming it has to hit 5k. No it doesn't... if the channel breaks and trend changes then it's pretty simple really.
rzmb44
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@GenX9, Thanks. I look at both ways. I've generally been bearish. And this market has been tough to trade, with lots of big spikes up and down. Just thought these lows looked like accumulation which can produce a good rally. So if this is just a flag and we move up later today, then I'm very bullish. But it is important to look at Pro's analysis. If we just leak all day and end up closing under $7500 with a big wick then I will get cautious.
Boss_Coyote
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I can't wait for this to get rekted
Zenchy
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U got fucked.
person10k
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@SimonKruber, who the OP,? pretty sure he presented a ceaveat in the previous video that he was setting a tight stop in case it went mental today, and was happy to give to the market if it got the market a leg up to a more comfortable shorting pos (77 / 84). I suspect this guy gets way less fucked than the rest of the crypto mavericks around these parts
@SimonKruber, No really, at these levels he plays with super low leverage of 0.1
He's all about risk management.
ticksup
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IT'S RIDICULOUS TO COMPARE A VERY LOW LIQUIDITY/VERY LOW MATURITY/ULTRA PUMPED MARKET IN 2014 WITH THE CURRENT SITUATION. ANT OF COURSE, MT. GOX. WANNA LOOSE MONEY, THEN SHORT BITCOIN!
Long term MACD indicates major trend reversal.
PRO_Indicators
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@diogoluis, Well ... calling someone who plotted an analysis is what is ridiculous here.. I could be right, or wrong, I don't care..