Hi guys. oh my gosh! i could not believe my eyes. btc dropped from 7400ish to 6200, just like in 12 hours! what a scam move, not many could see this.
of course, i called long position at 69zone, but those who saw my 2 comments 2 hour, 1hour before daily close could have got out of the market selling longs at 69 zone, with no or little loss! if daily close is bearish at 69, with no bounce after a drop, it indicates more drop! i had longs too 6830, sold that at 6884.after that, like in 5~minutes, it melted! oh, what a lucky timing!
i saw the market dropping, went long at 63, scalped that for now. so, another bear trend has come. would it be possible for the bulls to rebound? not for today guys. this needs more time than you think. so let's tuck in just a bit, and observe.
so daily chart below.
so bears, whales, they pushed the price right down before they can go above the red ichimoku cloud which is bullish. i though they would make more bear div in daily frame, they didn't allow that. now we are under this bearish red cloud again. top resistance is 67~68 level, again. I mean, again! so boring, another 6k~6.7~8k trading comes now. they could break that red cloud but...you saw what happened a week ago. we had a bulllish green cloud, even that was so difficult to break! but bearish red cloud? maybe another month
of consolidation, in the most bearish scenario.
daily rsi, it looks more like a downtrend reversal, not a retracement, more like it would need to visit 30 level again, before trying a bounce. daily stoch, yes also banded down severely. now one simple thing i told you guys in early TA's.
bounce=it is to drop more
yes, that has come now. until when? until it makes a bull div on daily frames. until that, you have to expect more drop, little bounce, repetitive market movements. it might again revisit 57 zone, who knows. in 2014, they made triple bottom, so maybe, another chance to go down, which is so ugly.
anyway, for today, usually, when drops like this happen it goes again to the support to confirm it's firmness. so today, i don't think long is really good, it does not look like it will bounce to 67 or 68, no, no..never did such. from the looks of it it can try, after confirming 63 or 60 as good support, and bounce hard.
so today's trading plans are.
1. open short position 6450~6580.
usually it makes a bear flag, climbing to about half of the previous bearish engulfing cadle, and drop. you can stoploss at 6620. target is 6300, 6250.
2. open long
if it revisits 62~63 level. open them. i think it will bounce from there, slowly, trying to break 6550/6600 in the next some days. we can see if we can hold that long term, or scalp that and observe the market again.
stoploss:6150
really, now times trading is so difficult! you see, i opened shorts at 7375, but i sold that at 7070 level. seeing the market dump like this, selling that short was a dumb choice, but i don't regret it. how can anyone see this coming so fast? anyway, let's still make money. happy trading!
of course, i called long position at 69zone, but those who saw my 2 comments 2 hour, 1hour before daily close could have got out of the market selling longs at 69 zone, with no or little loss! if daily close is bearish at 69, with no bounce after a drop, it indicates more drop! i had longs too 6830, sold that at 6884.after that, like in 5~minutes, it melted! oh, what a lucky timing!
i saw the market dropping, went long at 63, scalped that for now. so, another bear trend has come. would it be possible for the bulls to rebound? not for today guys. this needs more time than you think. so let's tuck in just a bit, and observe.
so daily chart below.
so bears, whales, they pushed the price right down before they can go above the red ichimoku cloud which is bullish. i though they would make more bear div in daily frame, they didn't allow that. now we are under this bearish red cloud again. top resistance is 67~68 level, again. I mean, again! so boring, another 6k~6.7~8k trading comes now. they could break that red cloud but...you saw what happened a week ago. we had a bulllish green cloud, even that was so difficult to break! but bearish red cloud? maybe another month
of consolidation, in the most bearish scenario.
daily rsi, it looks more like a downtrend reversal, not a retracement, more like it would need to visit 30 level again, before trying a bounce. daily stoch, yes also banded down severely. now one simple thing i told you guys in early TA's.
bounce=it is to drop more
yes, that has come now. until when? until it makes a bull div on daily frames. until that, you have to expect more drop, little bounce, repetitive market movements. it might again revisit 57 zone, who knows. in 2014, they made triple bottom, so maybe, another chance to go down, which is so ugly.
anyway, for today, usually, when drops like this happen it goes again to the support to confirm it's firmness. so today, i don't think long is really good, it does not look like it will bounce to 67 or 68, no, no..never did such. from the looks of it it can try, after confirming 63 or 60 as good support, and bounce hard.
so today's trading plans are.
1. open short position 6450~6580.
usually it makes a bear flag, climbing to about half of the previous bearish engulfing cadle, and drop. you can stoploss at 6620. target is 6300, 6250.
2. open long
if it revisits 62~63 level. open them. i think it will bounce from there, slowly, trying to break 6550/6600 in the next some days. we can see if we can hold that long term, or scalp that and observe the market again.
stoploss:6150
really, now times trading is so difficult! you see, i opened shorts at 7375, but i sold that at 7070 level. seeing the market dump like this, selling that short was a dumb choice, but i don't regret it. how can anyone see this coming so fast? anyway, let's still make money. happy trading!
Comment:
oh gosh. so weak. i opened my short position at 6450 sold that 5385, opened again 6415 when i saw btc fall out of triangle, sold that 6337. guys, if you want to go long, just open from 6180~6280/6300 and just wait for now. don't go long at 63 or upper 63 for now.
Comment:
so this might work for next 12~18hours, i assume, playing the bearish flag. let's see. i have shorted this twice, now. i will go long when price comes at 62~63 zone again.
Comment:
Btc showing little strength!our 1st short position entry so i got in 6480 little amount.lets see. Next buy area is 6550 6590 for now. It is still oversold condition but we are playing weak btc until it fully shows power at some point.
Comment:
I sold my shorts at 6390,lets see the second leg up. Short term 63 can be supported,it did make a double bottom short term,you can try for some longs at 6320~60 levels. I would do too.
Comment:
guys, i understand that, some fill fomo'ed in. "did i miss my bus to bull run?" really, now in this sick 1200 dollar drop situation? really? let me tell you 2 things. first, in downtrends, when it starts, see how daily candle closes everyday. usually, when it starts, it may bounce a bit, but usually, it goes down,closes in lower price. not that it will at this case, but, this is a trend reversal for short term at least. that trend will not chance at least 1~3week term now. second, always buy at your own price, that you think is logical, to go long or short. that means don't chase the bus, and jump in to the doors. when you wait for that bus patiently, it always make a route, comes back for you.
Comment:
I got in at long position at 6324,plan to add more at 6260~6300 if comes lets see. Target can be 65,or even 66 zone. I do not rhink it will come today need some time.
Comment:
Looks nice!more powerful than i thought!ok it could try upper like 66 levels so i will hold longs now. Shorting now?delay that for a little bit.
Comment:
guys i would not write new post, but, i think btc will try 6700 levels until next weekly close, which is few days from now. i think today, it can drop to 6380~6420 area, make comeback try for 6550~6600 zone, coming 24 hours. in weekend expect some retracement, but will do try again to break 6700 and close. if that happens we earn some bullishness. if not, only reaches 6650 or 6680, we could short it again, because drop would continue. so if you are in longs, hold that, i think you can sell that at 6550, or even 6600 level, coming 24 hours, i will just hold it for now too.