BTC Going to Bikini Bottom by the end of this month.
No doubts the monthly is going sideway (in a range) and the weekly, daily, and hourly are going down a channel, so what opportunities avail? We have a chance to get cheap BTC as it is going down the channel: this is a waiting game for those who missed the $9K on the previous drop as we will reach the buy zone by 01/23/2018 and will probably stay in until the beginning of February depending on volume. Here is my game plan:
+ My big boy is the 4-hour chart, but my one hour is giving me more details on support:
1. Lightning Network (LN) usage is growing based on the transaction percentage http://segwit.party/charts/#
2. Mempool is slowly clearing and transactions are getting cheaper https://tradeblock.com/bitcoin
3. Wall Street wants cheap coins
4. We are somewhere in the bubble phases between Denial and Fear... http://thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg
5. Weak support under $9,500
My Trading Plan
+ Watch Support 1 and redraw trend line when going down, check volume increase/decrease
+ Watch Support 2 to be dismissed (old support from previous dip)
+ Already set my buys at $7777.77
+ Wait for the bounce as old supports will now become resistance unless volume 2x, 3x or 4x (40M to 80M)
+ During pull backs will Hodl 75% and scalp with the remaining for the following money spots on the way up :
R1: sell at $9,400, then buy at $8,500
R2: Sell at $10,350, then buy at $9,500
R3: Sell at $11,700, then buy at $10,700
R4: Sell at $12,770, then buy at $11,750
R5: Sell at $14,000, then buy at $13,000
Set stop loss at $13K for all my coins
*** these are approximation as it will heavily depends on market sentiments & volume, but will have the general behavior.
Good trading.
+ My big boy is the 4-hour chart, but my one hour is giving me more details on support:
1. Lightning Network (LN) usage is growing based on the transaction percentage http://segwit.party/charts/#
2. Mempool is slowly clearing and transactions are getting cheaper https://tradeblock.com/bitcoin
3. Wall Street wants cheap coins
4. We are somewhere in the bubble phases between Denial and Fear... http://thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg
5. Weak support under $9,500
My Trading Plan
+ Watch Support 1 and redraw trend line when going down, check volume increase/decrease
+ Watch Support 2 to be dismissed (old support from previous dip)
+ Already set my buys at $7777.77
+ Wait for the bounce as old supports will now become resistance unless volume 2x, 3x or 4x (40M to 80M)
+ During pull backs will Hodl 75% and scalp with the remaining for the following money spots on the way up :
R1: sell at $9,400, then buy at $8,500
R2: Sell at $10,350, then buy at $9,500
R3: Sell at $11,700, then buy at $10,700
R4: Sell at $12,770, then buy at $11,750
R5: Sell at $14,000, then buy at $13,000
Set stop loss at $13K for all my coins
*** these are approximation as it will heavily depends on market sentiments & volume, but will have the general behavior.
Good trading.
Comment:
Looking at what comes next after this bubble correction: it looks we will not see $100K BTC until next year. Here is my extrapolation based on a weekly corrected curb that follows the 25 MA - which is what has been driving us thus far on this scale per this chart
Comment:
Support 1 at $10355 is now Resistance as it tried to poke through twice. We are going down and expect to reach my target by the end of the week
Comment:
Too quick to draw: Support 1 is still alive, but resistance at 11700
Trade closed: target reached:
Bought @ $7777.77
WATCH OUT - it is going down further as market cap is disappearing. see my next TA (Deja Vu).
Good trading
WATCH OUT - it is going down further as market cap is disappearing. see my next TA (Deja Vu).
Good trading