Not much time to post a large amount of text right now, clicking and trading myself. Just wanted to share, I really like this community.
It's a small timeframe the 15, so it's not that you can let the idea ripe for hours. I update my idea later on, with some charts, probably longer time frames as well. Zoom in and out wash rinse repeat. That's what trading is all about if you ask me.
Happy and safe trading folks!
Zoon in, 5min. Wedge like pattern, now upper boundary
Zoom out, 1h. It's a beauty, btc.
First attack of the important line (it's more of a zone actually) in progress. let's see how it works out.
Zoom in. New possible ishs
BTC is the king for practicing TA. Simple as that. Neat so neat...
Please view the 2 red lines on the following chart; 1 downwards sloping line and one horizontal line. Respectively Corresponding with 1) the area we are currently trading at and 2) the (temporary?) 'all time high' of a few days ago.
HODL Long Term holdings, I cannot stress it enough for most crypto market participants...Do trade short term it's fun, it's rewarding when done properly but make a diversification between short term en long term allocation.
Do not be Mister or Misses Smartass picking tops and bottoms with that long term portfolio, cause at one point in time the market lures you and before you know you can start the chase of a lifetime. I say something, you sell BTC @51K USD expecting a modest 5-6k drop.
51K zone, it tops slight above that, so far so good. Price subsequently drops towards your 45k buy zone. You are ready to buy in, a plan is set in your mind, one third at 46.111, one part & 45.511 and one third at 45.111. A personal issue needs your attention that day, in the process you forgot your phone somewhere, you weren't done with placing your limit buy orders and you cannot fix it. You need to face it, the next few hours you are not going to be able to follow the markets, let alone participate in it. Nailbiting nothing to big of a price move upwards happens.
Price drops in the mean time to 46.150, where it finds some support. And then DANG!!! A rocket is launched directly towards 70k in just 12 hours! Falcon 10. MUSK. Elon has bought Bitcoin and not just dipping a toe. No, full in with Tesla cash reserves.
Where are you with your long term HODL position? Probably waiting at the sidelines for a pullback. Not good for your heart and emotional wellbeing. Probably not good for your finances as well.
Bounce was effectively in play, more can you not reasonably 'predict'. The rest is 'expectation' in a way, short term within a longer frame trajectory. We are not really progressing now, no atypical behavior though.
Just a possible setup. Sideways forming some sort of pattern, building up energy. Then resolution.