Just an idea because why not?
BTC found some support on the 5500 area but clear support wasn't found until the 5200 area were BTC has been consolidating for a while now.
Diamond pattern on the making and will wait for breakout either way to open a position.
Purple line is right at Nov 12-2017, Feb 06-2018, Jun 24 and 29 2018 and acting as a clear resistance which is not a discovery as almost everyone knows. So I will not go long until I see breakout of the 5800 on the 4hr chart. On the other side BTC lose the 5500 area it will have to go lower to find more buyers.
On the bullish perspective $6500 is my target but I see the greatest challenge for bulls around $6700.
On the bearish side $5200 would be a nice target to take profits with the 200 EMA approaching that range too.
Full disclosure: my heart is with the bulls as I believe we are on a disbelief bullrun...
That said I will not bother managing a short position for a $300 movement on the downside and going against the trend.
Eager to read your ideas.
BTC found some support on the 5500 area but clear support wasn't found until the 5200 area were BTC has been consolidating for a while now.
Diamond pattern on the making and will wait for breakout either way to open a position.
Purple line is right at Nov 12-2017, Feb 06-2018, Jun 24 and 29 2018 and acting as a clear resistance which is not a discovery as almost everyone knows. So I will not go long until I see breakout of the 5800 on the 4hr chart. On the other side BTC lose the 5500 area it will have to go lower to find more buyers.
On the bullish perspective $6500 is my target but I see the greatest challenge for bulls around $6700.
On the bearish side $5200 would be a nice target to take profits with the 200 EMA approaching that range too.
Full disclosure: my heart is with the bulls as I believe we are on a disbelief bullrun...
That said I will not bother managing a short position for a $300 movement on the downside and going against the trend.
Eager to read your ideas.
Trade active:
Taking profits here and setting stop-take profits on target living something for the ride... Hope someone found this useful!
Trade active:
Very happy I trusted my setup, only $500 more to go. Very small position setting stop loss at break even. The noise around is incredible.
Trade active:
Woke up to a 7000 BTC... Last update on this trade.
Couldn't be happier for my first post and my still active position. I will wait for a setup and try to increase it with a tight stop loss to lock some profits.
Have a great bull season everyone!!
Couldn't be happier for my first post and my still active position. I will wait for a setup and try to increase it with a tight stop loss to lock some profits.
Have a great bull season everyone!!
Trade closed: target reached
Would love to read some comments.