It's looking better and better. It might even be less than 12 hours till we go KABOOM! (Either way lol). It also happens to be Monday morning, the start of the week, in east Asia. I'll go long at 9700-9800. Set my orders relatively low to minimize my risk, if I miss it because of that I'll buy on the bull flag break, considering we do form a flag as I drew it (the flag structure is not confirmed yet might look a bit different in a couple of hours). You're going to need alot of popcorn for the next week. It's going to be a beautiful show!
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Alternatively:
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Zooming in, I think it might have started.
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15% in (+ the ETH I've hold onto for a few days)
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I was in a tunnel for 15 minutes and all of a sudden we're at 11000. Ok.
Let's go drill further in that wall. Seriously, if you remove the time x axis it's going to look like a drill.
I'm 30% in actually because we pulled back to 10705 on Binance earlier and I had an order sitting there at 10709 that got filled.
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Bought a bit more on the pullback from 11000+ to 10800+. I think we're going to spike to 11200 next then pullback 200$. And after that we break the high of yesterday. Let's see...
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Being wary of a drop of more than 200 or 300$, the 4HR RSI is at 65 now, it went as high as 77 last time (when BTC reached 11250$), I think we can go higher this time, but I'm being careful once it goes above 70. Till then we should keep going up with ~2-300$ dips when 15 min rsi gets too high, 1HR could bring the price down 4 to 500.
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Ok Bitcoin we both know my buy order at 10851 won't get filled, so stop messing around and go up now...
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I guess the longer we stay consolidated the less likely we are to drop sharply a couple hundreds in a minute. We are only 100$ above the price where I break even, drop more than that I'm at a loss lol. Just go up so I don't have to be ready to react fast and look at the price every 5 minute. Increased my new buy order by almost 20$.
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Looking at the 2HR TF, yet another inside candle formed. We got a beautiful doji this time (= market indecision) In my own opinion we are just recovering from the impulses up and need to cool down the drill before we can go further up. Zooming in:
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We just keep seing flags/bullish pennants and inside bars... About to break btw...
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Told you. Fking easiest call of my life :D
If the same thing as last time happens (with the lower downtrend where 9k was rejected then broke throught later) - in my short idea "Bitcoin, safe trade good reward low risk." (miss that one qq):
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Tested dat line @ 11250. Every one calling double tops into "4k confirmed" and all need to chill out. How about we see how this plays out before making crazy calls?
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We realistically have alot of room to grow looking at 4HR RSI, so I think we're going to test that trendline in the next 24 hours with no significant drop (more than 5%). We're so close to the finish line, would be stupid we just go to 7 k now lol.
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Average buy price + fees + a 0.1% profit so I didn't do that for nothing would be at 10800, so I have a bit of room left before I have to consider buying back lower.
The low of the previous 4H candle is 10845. That's a level below which I'd start worrying. But can this happen with the buy walls on Gdax? It's all even not like a couple of fake orders put there...
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Been consistently having around 3% drops on the way up outside of the 10% drop. I'm considering buying more but I'll be in commute so I can't do that :/
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K should be going up now.
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Higher high on the 5 min since the bounce on pink line (binance sma something). Gogo higher low next.
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5 min closed above blue line hue hue huu
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We broke bullish an inside candle on the 15 min, we should stay up at least 10-15 more min. Buys me more time.
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Guess higher low been set on pink line kkkkkkk
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Above previous higher high. Lets go knock on 11250 doors again. I believe traders locked in some profit there I know I wanted too, which caused a few noobs to panic sell hence the 3-4% drop.
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Pretty close to 11250. A few unskilled people that bought 2 hours ago are going to want to break even but nothing too hard to overcome. We might get an ascending triangle.
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4H candle closing in 1 min in a doji. That is supposed to be bearish but last 3-4 times we got that we went way up after.
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Zooming in the 1HR. Exact same BS happening up to now...
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Well i'ts not the *exact* same because this time the price is above the open on the 1HR this time (people are learning?), but it's pretty similar.
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Starting to consider selling ...
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Seing it tighten, slightly lower high, higher low...
And what do we have on the 2 hour chart? That's right, yet another 2H inside bar!
Gonna set an order close to 10900, and my sotp loss will be right under...
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Damn. And there's more if we look at different time frames.
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MPC made a new post he said the same as me, we can't get this close to the downtrend without testing it. Would really be dumb. Just stop right next to the finish line... Why?
2 scenarios: - We clearly reject the downtrend, I'll close everything and look to buy back somewhere around 10000 or 9500 - We break! And not just a lame fake break. I buy more BTC and sell somewhere around 12-13k which is where we'll be headed but not much more with overbought 4HR RSI. MagicPoopCannon in his last BTC post 3 hours ago says there's heavy resistance at 12700 and I'm too lazy to check right now, so I guess I'll sell there. Maybe I'll check a few other authors, or just draw all the lines etc myself...We're not there yet anyway so it can wait a little longer.
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Looking at Fibo we retraced to 0.382 which is a level to which we have been going alot lately, like 80% of the time.
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... ... ... Guess that could have been an occasion to make a quick buck for anyone with a fishing order around. Mine was an another exchange, the large sell order was on Bitfinex, the other exchanges didn't go as low.
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Maybe someone wants to force us to stay under 11250 till the daily closes in 1 hour? Sell 500 Bitcoins to make profits all day long... Fat whale looking to be fatter...
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Ye it'll take more than an hour to recover... So it does scale! Once you really got big, you can keep making money! All you'll need to do is manipulate the market.
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I guess we start recovering from the whale move, so that will have bought him 30 minutes...
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Oh oh getting pretty close to 11250 and only 20 minutes left. Does that whale have more BTC to sell to drop the price if we get too close before the day closes?
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The daily candle closes, and it's an inside bar on the daily.
If we go up this means we're going to see 1 day of bullish action, which makes breakign the downtrend without pulling back much more likely, and buying Bitcoin at 6k will be a thing of the past...
If we see a sudden huge buy spike at some random price, we'll know it's market manipulation at its very finest. If we go up to 12000+ I make good profit, thanks Mr. Whale I guess... Ready to buy on a break above that bar but only if we pullback and I'm not in bed.
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:} Enjoy
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Ok now the next step is the most important to be a successful trader. Log into your account. Go to "Account Balances". Press F5. Good. Ok now press F5 again. Good. Press F5. Make sure to press F5 once more. Press F5. Press F5. Press F5. Press F5. Press F5. Press F5.
:}
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100$ away from the downtrend. Alot of money on the sideline waiting to see what happens. Don't be surprised of a 1k move up in less than 1 hour when we go above (if we do).
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Tic Tac... Some people are saying we broke the downtrend but we haven't yet. We touched it but didn't go above. If you don't have 2 left hands and can draw a line correclty, this is what you'll see:
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Buy order set at 11251
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0.5 since start of the big impulse. Maybe we go to next level.
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Going to sleep while the consolidation consolidates. Maybe we get some kind of falling wedge:
Trade closed: stop reached
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Total account growth 2%. Makes sense that we bounce on 10500 or 10000 next. I'll buy around 10500, hopefully I'm near a PC when we get there, if it doesn't hold I'll buy a bit above 10000.
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Buy orders set from 10411 to 10051, the lower the bigger. If I was able to focus on trading fully I could buy big at 10400 expecting at least a small bounce even if that's not the bounce that brings us to the downtrend, sell for a little profit if it doesn't look like it'll hold, and then buy at 10000, etc.
And if we don't go down there but go up right now from here...RIP
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It's going to be necessary to keep trading very safely. The general sentiment is not positive. Alot of people are still making 4k calls (ignoring price action) and saying they still believe in their idea that we go to 4k 2 weeks after the dip to 6k (so we're going to go back in time?).
It is no secret whales have been buying alot. And selling. A single adress poured over 300 million usd into Bitcoin from the 09 fev to the 12 (blockchain.info/address/3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64). And we get these sudden sell orders that trigger people stop losses, or make the price dip long enough so the resistance at 11.250 holds until the day closes...
Crypto stays unregulated, and right now the price movements are not the result of the whole market sentiment but of a few.
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Went in a little at 11500. Watching if it holds or not...
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If the support truly holds, the next challenge is going above 11660. Past that nothing is stopping it for a few hundred I guess.
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Lines everywhere!
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Bought some more on the spike down because I'm crazy. Now's a bad time to go to the toilet... Going to have to hold it mmmmmmmm
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I'm out. 7$ loss. Idk what that is in % but not much. Note to self: Bring TradingView Password to work because Firefox is pure trash.
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Is the bear market over? Maybe. Am I seing a good trade setup? No way. Not going to take a trade till I see something. I just want alts to stop depending on that useless thing that "was here first" and go day trade NEO till I'm old. Ah the good old days of 5% in 45 minutes while I play GTA...
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Maybe it goes up sharply again now. Bought back in. I hate myself. Only small amount thought. Going to try to sell at the top maybe we break 12k and go all the way to 12800... I'll buy on large pullback later when everything is more clear.
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I saw people from "the public" that noticed BTC move and some look interested to get back in...
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Going to start trading crypto with just 100$ to satisfy my addiction.
So Bitcoin did blow, but in impulses, and each time the follow up was pathetic. This is as unconvincing as it gets. Patience is key and less is more, but for those that can't wait there's always playing with small amounts. Or buy in the recovering (?) stock market.
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I'm back home. I'm just going to buy a bit every time we go down to the pink line.
We should keep going up till AT LEAST 12KISH
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I don't think we go far tbh. Even 4HR rsi is overbought now. Hope we'll get a nice pullback and then I'll be able to really buy. Right now we might be able to see 3% more or so. Could be wrong...
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Here we go... Good thing I didn't end up buying. I'm not sure where it could dip too thought :/ Go test the trendline? Down to 10800? 10000-10300? I could just buy at each of these levels...
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The whale that manipulated the price up decided it was time to drop his bags? XD
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There's reasons to want to buy at 10500, but ...seems risky this whole situation has made no sense since we got to 6k. Idk if i want to risk it. Well at least I'm making money shorting ETH...
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If we keep going down, next stop is 10800 IMO.
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KAAABOOOOM I don't know where we're going, but we haven't dropped this hard since 6k. Good thing I openend an ETH short in time, but bad thing I only got less than 10% of my trading money in Kraken or I could've shorted MOAR.
I think I'll risk buying at 10000 :p Spaaaarta. If we get there I'll probably be at 100% profit on my Eth short anyway. <3 bear market, <3 whales dropping the bass, <3 panic selling, give me more.
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Usually I make fun of people that talk conspiracy...
Told you this game is rigged mate. Just wait until regulations come in and the largest exchange with the most manipulators go close their doors what they will do with #2 most bitcoin holder in the world ;) Remember, audits are mandatory in a regulated exchange.
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@cryptogast33, Ye nice. First one is too dirty for me to look at but I like second one :D
~10000 is my favorite area, it could reverse anywhere, and 10500 has a chance, but whatever I do I'm sure I'll buy at 10k, expecting at least 5% here.
Maybe I just go set orders on that area and if it doesn't get there I just miss it whatever.
Got any target for a short on ETH? 800 or less possible?
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@MrRenev, Yeah the first is old one that I scalped and hit target exactly, I was with $12 wrong on this one which costed me a few thousands $. I should have lowered, but I was greedy :)
It's extremely risky to buy now, since we're in abc correction. Max gains from A is so little with so many risk, for me it's not worth it. If it breaks red box, I might consider to buy back in little bit 1-2% of my fiat. If break below C, we go in bear market, as it can be first wave and this can take many weeks to recover from (I've taken in consideration to quicken up, as volatility and market participants are growing).
Market manipulators don't care which way it goes, they have enough money to do what they want and profit from opposite sides as well. That's why I will never hold crypto until regulated, only trade.
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It is a lower high, and we could still take another dip or start to fall free. But: Some days ago (17th Feb) BTCUSD formed a quadrubel top with the last two descending and finally broke through to the upside... It's better than watching movies :)
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Hej,
thanks for your updates! I am following your idea cause I actually have nearly the same entry points! I also learned quite some things by looking up specific events you saw happening in the charts (inside candle, doji etc..). I guess that differentiates from other posts with less frequent updates. You can really track the action here :)
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@nighty2k7, Thanks. Ye I think that's more useful than giving some ideas and people don't know what to do from here. If I had alot of followers idk if I would update this much don't want every one to know my secrets :D
I'm using this for me too, helps alot to keep track.
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Wait for 9.9k settlement on retrace from bottom, maybe this is a correction, let me make chart
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@cryptogast33, If we go further down I'm near a PC, I'll buy at about 10500 which is a 10% drop like we already had and support and a retrace level on small and large scale. I'll use a trailing stop loss, if we go further down, I'll buy around 10000 (9900 to 10100). I don't know what level is next, 9500 I think.