ltc-joe

Bitcoin high probability trade

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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24
Everyone going cray cray as the price chops around...if you must trade bitcoin ...here's how to do it IMO.
Comment: Breaking up out of the wedge, looks like we're going up. Even more confirmation when we break the blue box : )
Comment: Broke down out of the box...red option. Tried to update earlier but tradingview was giving me problems, couldn't update my ideas : (
Comment: Daily chart corroborates as well. If we measure the length of a and duplicate it takes us nicely between the .786 and .618:
Comment: daily—while I don’t like “double bottoms” the potential is there, kissed the 100 MA and the bottom of the pitchfork. RSI hinting at a bounce.

4h

While this may be a bit premature, based on the above and what i’m seeing in alts, looks like a decent shot we have seen the worst of this.
Comment: Guess we’re still not out of the woods, price breaking the lows…should enter into our target box. IMO good time to be buying the dip. Probably won't last long but even if it does and this gets real ugly and goes into the 8xxx’s or 7xxx's--I don’t think we are heading into a 2014 style bear or anything like that so these prices will ultimately prove to be good buys. Could be wrong of course!
Comment: Hope y'all bought the dip : )
Comment: Looking good...and now we are getting a bullish head and shoulders break out!

Comments

What now Joe?
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bull trap in its finest form ?
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Super :):):)
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you've called it again :) nice 1
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Thanks, Bro! we need you :)
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now we drop to 8.5-10k and bounce? or nothing is certain?
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@mvb1, Yes i'm expecting it to get to that range. Could possibly go as low as $7500 but I don't think so.
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New wedge forming on the one hour at base of the box (and just above falling wedge)...
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we just re-tested the wedge? do you think there is enough volume now to bounce from here?
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@mvb1, Good question, not sure : )

I don't like that the daily chart has failed to get back above the 50 MA more importantly, at least so far, but I think this is probably just all trendless chop. If I had to choose i'm still sticking with up, but wait for a close above or below the blue box (on the 4h) for the high probability move : )
+1 Reply
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