Long story short. Don't short Bitcoin...
When you see people that have relatively new accounts, never traded the sector they are commenting on, write tons of stuff as if they are paid to do so and make TA extremely complex, always beware. Especially here on tradingview guys. People could be incentivized to spread misinformation, which costs them nothing. They have nothing to lose. And if you see someone not admitting a mistake for too long, don't trust them. They are not worth being a trader. Traders adapt and accept mistakes. It is part of the process of what makes us grow and become better. Never double down...
The reason why I didn't get to post my two ideas earlier is because I got banned... I got banned, as I got home tired and saw another idea of that goldbug telling people to go short again, after his call yesterday was wrong. That really infuriated me and I responded in an inappropriate manner. Hopefully some listened to me and went long, or at least... didn't go short! And look, I lose my temper when I see people that have malicious intention (at least in my eyes). I have never done this here on tradingview, so that should tell people something in its self. This is how I am and if people don't like me, report me or don't read my ideas. That's all you can do. Anyways, Jasper was the one that told me I was banned, so we chatted about the way reputation is calculated. He agreed that there are issues and that they are working on it, so I am hoping that things will eventually change.
Yesterday I was caught up arguing with people, so I forgot to mention about taking profit. Unfortunately, I don't have time to post regularly, so I rarely post ideas or give updates. Sometimes, if I see something very interesting and I have time, I let the world know. If people listened to my crypto ideas from early on, they would have had great results, both on the short and long side. My commodity and forex calls were pretty weak (unsuccessful or terribly wrong), as my understanding of the market was and is poor, hence I quit and focused on crypto.
As some may already know I went long at 3000$. Before today, I had sold half my position at about 4k and then sold the rest at 4440, waiting for a better entry. Sometimes we need to take profit guys, I did at 4440 and I will explain why. I just posted the index, but also what I was seeing in some exchanges. I can't name the exchange that I use, but I sold a bit before it hit the resistance there. The reason why is, that I always want to leave some breathing room. Never sell or buy on resistance or support. Always do it a bit below or above, to be sure your order gets filled. And never on round numbers like 4450 or 4500 or 5000.
Finally, like I said yesterday, keep things simple guys. Don't overdo it with indicators and lines. Also remember that on a bull market resistance means take profit, not short. I am waiting to see whether bitcoin goes above 4500 to get back in, if there are enough signs confirming to jump back in, I will. Otherwise pulling back to 3850-4050 is reasonable, but I kinda doubt it.
But, this now looks like a bullish wedge/flag. If it breaks up and above 4500, 5k will come easy.
Altcoins really are oversold, but with no sign of reversal. There is a chance that they might recover a bit while bitcoin rests.
Perfect sell setup with a doji to confirm it. Those who are new, should follow Tone Vays and watch his educational videos. The TD indicator is one with a trade mark, so I can't say much. It doesn't exist as proper indicator on TV as someone needs a subscription to use (maybe on bloomberg). 1-4 days of downside might come and then it will probably continue up. Because Tone has many followers and many are looking at this indicator, it has more power. It worked before as it is a great indicator, but now that more people use it, it is more powerful!
The comments on the indicator are not mine. This one is written that way that it shows when the perfect sell setup has come.
When you change the definition of an uptrend and you've been wrong for 1000$ or more, I am gonna call you out.
There are many new traders rushing in everyday, especially for cryptos. It is so easy to manipulate things. I don't disagree that they have to study more and do their analysis, but that doesn't mean I am not going to tell the truth to others.
1) A definition isn't a version.
2) Tradingview doesn't allow people to change things. So go back to his history and see that he has been wrong for 1000$ and more.
so not my version of the truth. Simple facts. Now the rest are my version and speculation on his motives. Yes, these are what I think, doesn't mean they are true.
Personally, I think the whales, Jamie Dimon and Goldman Sacs love this slow movement.
The only thing BTC has to do is slowly creep up. It doesn't need to PUMP at all. It can just go up $100 a day... for 3 days in a row... then drop $200 the next day. Then go back up $300 over 3 more days..
And eventually... We will reach $6k.
Also: Eventually somebody is gonna PUMP this market.
I'd rather be in now than later.
What do I care if BTC goes down 50%? It's possible but unlikely.
In the meantime, I'll be in bottomed-out coins like Counterparty and await for my 300% gains.
And have more BTC as a result. So when BTC does go to $12k by the end of the year... $$$$$ CHA-CHING!! BABY!!! $$$$$
Who cares about complicated TA. I agree with @nottsy
Myself? I just pray to The Messiah, Jesus.