Coinamic
Long

One more push up on Bitcoin, before the end of the leg D

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As you guys could see, all my ideas use to be short since are safest in this bear market, but this time I want to make some profit on what I think is the beginning of the wave B in this ABC down to 6500, so basically this is a continuation of my short idea just with a quick stop to gain some pips in the next green days that are coming.

I placed a long order at 3775 of 10% my account. If it goes down I´ll add more to this long.

We are here to make money and not to guess if Bitcoin have bottomed or to guess the long term picture of the crypto market in 2020. I´m pretty bullish on Bitcoin and some alts, but that´s not meaning that the bear market could get a lot more than some "experts" are claiming. Honestly, what I know so far is that the bear market is not done, and looks like it will need at least this year to start a new cycle, but even with that approach I´m not sure about it, so don´t fall in false bottoms claims and such.

Key is analysis, money management strategy and experience.

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Mar 05
Comment: Wow! The pump happened even before I expected it. My order didn´t get executed for just $5 in Bitcoin, but I entered in ETH at 129, so I´m ok.

I´m expecting a retrace around 3972.
Mar 05
Comment: The price found resistance at 38.2 from the leg C (red fibo). Most probably is making a retrace wave just now.
Mar 05
Comment: So we hit my target of 3792, with the expected retrace. One could place a short order at that level and the chances of making profit are high, but I’m not a scalper, I don’t like heart attack’s plus the big profit is not on scalping, so I rather wait not to see how strong is this impulse up to get a decision.
Mar 05
Comment: Ok so the price found real resistance at 3970 BTC and 140 ETH. I’m long in ETH from 129, so I have 2 options here, either I take profit now or I use a trailing stop loss of $3. Given the resistance this is clear and real, I prefer to take profit now and wait for the next entry point.
Mar 05
Comment: So I’m out of the market at the moment. Volume is decreasing while buy pressure is getting out, so I’ll expect a correction now, which most probably is subwabe B of this abc up. I’ll update soon with another entry point.
Mar 06
Comment: Good rejection on the hourly. Correction coming up...
Mar 06
Comment: I´m still in cash waiting to see a clear entry point. I could enter short with a high probability of making a bit of profit, but I rather wait to see it crystal clear.
Mar 07
Comment: The current trend has strength yet. Yesterday a couple of hourly candle pretended that the correction was incoming, but there is buy volume enough to push it up a bit or maintain the price around this levels for a while. I won’t be opening neither short nor long at this levels. Most probably we will see higher highs soon, but is not my game so far, the chances of a bull trap are also on the table.
Mar 07
Comment: Still buying pressure. I’ll enter short for sure, just now now. I’ll update whenever is good to do it.
Mar 08
Comment: Bearish divergences everywhere. CBOE futures expires on March 13th. I believe we will see a dump during the weekend, and another impulsive wave up before before the 13th. I´ll keep watching the market and let you know the overall direction.
Mar 08
Comment: We have a non regular HS formation in ETH. I believe a whale will come and dump the price very soon. However as I said earlier, just now is a non trade area for me.
Mar 10
Comment: This is getting interesting. The upward trend need a correction soon, we should see 7700/7800 soon. I’ll try to find a good short entry and post it.
Mar 10
Comment: Ok guys there is no strength anymore, this is the moment to enter short
Spot on ! Damn!! Any updates sir?
Reply
Thanks a ton for your contribution. Check my post on how I see my EW count taking BTC to wave 3, our potential retrace to 786 fibonacci before that and then maybe a final move near $4800:
Reply
Coinamic Cryptosomniac
@Cryptosomniac, Thank you good work. The pump happened before I expected, unfortunately my order didn´t get executed for just $5, so I´ll pay attention between 23.6 and 38.2 levels, this still looks for me the B of ABC down.
Reply
lmao goodluck
Reply
Horus83 YungSwan
@YungSwan, He is right...
+1 Reply
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