Hi fellows, I am looking for one more wave before any big crash on BTCUSD. We have see nice bounce back from the trend line. Watch TCP on lower time frame for the next big wave. In case price breakdown the channel then it may change the pattern. Then we will analyse the breakdown. Good Luck fellows.
Comment
⋅
Watch pullback on lower time frame before any buy. Break below the previous low will change the pattern.
Comment
⋅
One more wave down is possible on lower time frame. Watch breakdown on 15min time frame and then look for buy close to 786. We need to see price action close to 768 before any blind buy. Good Luck fellows.
Comment
⋅
Dont buy blindly watch price action close to 786 fellows.
Comment
⋅
So the previous TCP broken down and still falling keep eyes on 786 fellows.
Wave-trader, you are super good at analysis and education. I watch your YouTube video every week!
One more question: why do you use 786 for this chart? 618 is more common? When to use 618 or 786? Thank you!
Daniel_APM
⋅
Good analysis! Most BTC exchanges don't offer Stop orders. How should we control risk without stop orders? Any suggestions?
Daniel_APM
⋅
@mnwind, I shorted BTC with small position and margin (Kraken) during this correction, from ~3800 to 3200. It was a winning trade, but feels very uncomfortable without stop order.
Coins can move so much a day, margin & no-stop position feels risky. Hard to have bigger position. Thank you!
Wave-Trader
⋅
@mnwind, If you have the access to trade on bitcoin through broker i think thats gonna be much better rather than trading through exchanges. Many brokers are now offering to trade on BITCOIN.
mightytrader
⋅
@mnwind, Use GDAX. Also: If you can code, you make can write a "bot" that acts as a stop-loss for you. That's what I'm currently working on for Kraken and other exchanges.
Daniel_APM
⋅
@mightytrader, GDAX is not available yet in my state Minnesota. Thank you for your suggestions!
Torg911
⋅
@mightytrader, during busy time, i found Kraken non-operational, imposible to submit order manually or via API. Moved to Bitfinex, thats a blessing experience, stop orders are in place as well.