I am not too sure about this idea but it seems to be following my TA.
Bids: 3550, 3600, 3625
SL: 3400
Bids: 3550, 3600, 3625
SL: 3400
Trade active:
TP1:3950
TP2: 4200
TP2: 4200
Comment:
I am not too sure about this idea ... we may still be in a correction - so trade at your own risk with tight stop losses.
Comment:
Ok time for some theory. The reason why I think we get a pump now is:
For Pump:
1. See the blue line on the daily, Stock RSI is up, and MACD is about to turn up (Its quite low).
2. We now have a lot of shorts stacked up -- shorts are rocket fuel. The market sentiment is bear, this makes it an ideal market for a pump.
3. China will need to get those bitcoins out of china ASAP.
Why I think it may dump:
1. 4hourly MACD divergence (Blue vs Red) looks bad.
2. 4 hourly Stock RSI is going down.
3. Fundamentals have changed with Chinese miners and xchanges about to be banned.
TRADE AT YOUR OWN RISK. This chart is not my most confident chart, just shows my own personal positions.
For Pump:
1. See the blue line on the daily, Stock RSI is up, and MACD is about to turn up (Its quite low).
2. We now have a lot of shorts stacked up -- shorts are rocket fuel. The market sentiment is bear, this makes it an ideal market for a pump.
3. China will need to get those bitcoins out of china ASAP.
Why I think it may dump:
1. 4hourly MACD divergence (Blue vs Red) looks bad.
2. 4 hourly Stock RSI is going down.
3. Fundamentals have changed with Chinese miners and xchanges about to be banned.
TRADE AT YOUR OWN RISK. This chart is not my most confident chart, just shows my own personal positions.
Trade closed manually:
Broke down.
Comment:
Will watch now for the bulls to defend 3450. Should be very interesting.
Trade active:
Ok I am still long .. added some more to my position. Nice Risk / Reward here. At most it breaks down and my stop loss kicks in.
Trade active:
Like expected....
Comment:
The Wave 2 bottom held. This is a good sign. Lets see what happens in coming days.
Trade active:
moon? :)
Comment:
Follow me on twitter. The link is in my profile here on trading view. I post all charts to twitter also and you can get live notifications.
Trade active:
So far so good. We are following what I charted. We bail out as soon as our wave theory is debunked. Until then we ride.
Comment:
If we break this channel here ... we need to close longs.
Trade closed: target reached:
Broke Channel. Closing Long. Nice profits tho. Even tho it may go up -- if it breaks channel - we bail.
Comment:
I am not actively trading bitcoin (only alts) -- but looks like its still following this path.
Comment:
Just updating this idea ... again I am not trading btc at the moment. but looks like we go more down. The TL was broken. Bulls are still trying ... but i think we are done for the pump for now.
Comment:
Bulls are strong... we just completed wave 4. Wave 5 should take us up to 4500ish range. A little less than my initial thought ... but there you go! :D
Comment:
We are still technically in wave 4 and it hasn't been invalidated -- but boy BTC is trying hard to invalidate it. If you are still long, once 3930 breaks - you should consider closing out your positions.
As mentioned earlier, I am out of this trade just keeping an eye.
As mentioned earlier, I am out of this trade just keeping an eye.
Comment:
Here is the 4 hour.
Comment:
Wave 5.