mongacoin

Bitcoin are we going to break this trend line? Will ETF save us?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BITFINEX:BTCUSD

ETF ETF ETF ETF!

Showing strong bullish momentum over the past few days for Bitcoin a lot of build up over ETF announcements.

In my opinion if ETF does not get approve many investors will be disappointed and you can see sell-off occur.

Currently 2 key resistance is in our way
- Down trend line
- Fib retracement Golden Pocket

It is still too early to enter any shorts as it would be a counter trend trade + naked short.

Will start to monitor and start to notice for exhaustion.
Comment: 4hr time frame, showing first signs of weakness. Usually a double top or break above the zone. Shall monitor closely with rejection at the fib levels.
Comment: Shorted BTC
Comment: was waiting patiently for the double top to form always wait for more confirmation
- MACD cross
- Bearish divergence
- Double top
- Decrease volume
- Fib retracement (golden pocket zone)
Comment: Back from holiday. Short closed with profit
Seems like the perfect fake out with that trend line break with the fib line as the snag

Comments

etf is postponed, atleast the yay or the nay until 21st september 2018.
https://www.gpo.gov/fdsys/pkg/FR-2018-07-24/html/2018-15768.htm
+2 Reply
mongacoin TwenteMining
@TwenteMining, thx bro
+1 Reply
TwenteMining mongacoin
@mongacoin, Your welcome =)
+1 Reply
I mean, we're going to do the same waves the same way last time at two 9600 peaks and two 11500.
+1 Reply
Do you think a double peak means we haven't found the bottom yet and we'll land down the last bounce we came from at the 5800
+1 Reply
mongacoin khaled777
@khaled777, it is possible, still to early to tell. However if we get rejected here it would mean that the downtrend is still intact and we would go lower.
Reply
khaled777 mongacoin
@mongacoin, Thank you for caring, and thank you for your good analysis. I'll wait for your updates.
+1 Reply
mongacoin khaled777
@khaled777, happy hunting bro, if you are in a long from the bottom I would just let it ride out and wait for confirmation of end of uptrend.
If you are looking to short I would wait first as well. I rather be a bit late than wrong.
Reply
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