Bulls are trying to achieve a substantial bounce through an ascending triangle and a channel. MACD diverging.
High resistance is expected up to the 6000$ mark. That's where bears are likely to strike back.
Risk management: if you're in already Keep a trailing Stop -OR- set SL under support ( lower bound of fuchsia channel / triangle ).
Don't play without a safety net here, better safe than sorry.
High risk trade, since we got a diamond involved:
Do your own diligence.
High resistance is expected up to the 6000$ mark. That's where bears are likely to strike back.
Risk management: if you're in already Keep a trailing Stop -OR- set SL under support ( lower bound of fuchsia channel / triangle ).
Don't play without a safety net here, better safe than sorry.
High risk trade, since we got a diamond involved:
Do your own diligence.
Comment:
At resistance.
Comment:
Top of channel and near 6000$ mark.
That's first target.
Top of channel and near 6000$ mark.
That's first target.
Comment:
LIquidating part of position and setting a TP for the remaining part, so thati can still play a bit.
Comment:
There's a kind of pennant on smaller timeframe.
price may try to attack resistance again IF manages to breakout, within about 1 hour. Otherwise i'd assume retrace and/or consolidation once 3740 gets lost.
price may try to attack resistance again IF manages to breakout, within about 1 hour. Otherwise i'd assume retrace and/or consolidation once 3740 gets lost.
Comment:
5740$, sorry for typo.
Comment:
That's the attack.
Comment:
I'd like to see a cooldown and some consolidation now.
Comment:
(after current impulse)
Trade closed: target reached:
5950$ sell order executed.
50% Liquidated.
50% Liquidated.
Comment:
Enough "live trading" today, will check later.
Mind the possible rising wedge here.
Remember, play safe.
Mind the possible rising wedge here.
Remember, play safe.
Trade closed: target reached:
Manually closed at 6350$ mark.
Close to TP #2
Close to TP #2
Comment:
Whatever, this was a great ride.
Comment:
Compare with opening post:
Comment:
It was pretty quick.
Comment:
So price matched 2nd taget.
It's an interesting setups, since the ascending triangle we got here technically allows for a third target above 7000$.
It's an interesting setups, since the ascending triangle we got here technically allows for a third target above 7000$.
Comment:
Perhaps price may have room to move towards the MA100/W.
*BUT* to be fair, oscillators are going to get overstretched soon.
I would greatly prefer some consolidation here.
It would be healthy to have som pullback and consolidate lower, creating a higher low. This before moving higher. Slow and steady in order to avoid fragility.
*BUT* to be fair, oscillators are going to get overstretched soon.
I would greatly prefer some consolidation here.
It would be healthy to have som pullback and consolidate lower, creating a higher low. This before moving higher. Slow and steady in order to avoid fragility.
Comment:
For bulls the ideal consolidation spot would roughly sit in the 6000$ to 5500$ eventually.
Anyway, it's too soon to debate about this, will post some update later, once dust settles. In the meantime don't forget this is still a ***VERY RISKY*** situation.
Use maximum caution till weekly close.
Anyway, it's too soon to debate about this, will post some update later, once dust settles. In the meantime don't forget this is still a ***VERY RISKY*** situation.
Use maximum caution till weekly close.
Comment:
Straight to MA100/W.
Now i hope we got consolidation, if it goes parabolic here we'll have a big pullback later and that's risky.
Now i hope we got consolidation, if it goes parabolic here we'll have a big pullback later and that's risky.
Comment:
Comment:
A fairly good retrace.
That's what happens when things move up too quickly.
Luckily we knew.
That's what happens when things move up too quickly.
Luckily we knew.
Comment:
Starting to buy back right form here, just above the 6000$ mark and long the way down.
Comment:
if that's the case.
Hopefully we'll see a reaction above 5600-5800$.
We'll see.
Hopefully we'll see a reaction above 5600-5800$.
We'll see.
Comment:
Comment:
Close and under MA200/W risk would be rather high.
Mind that.
Mind that.
Comment:
Be cautious because we're going to have a pretty bad daily close today.
DON'T overdo, too risky.
Chip in, increase moderately along the way down.
DON'T overdo, too risky.
Chip in, increase moderately along the way down.
Comment:
Got a second buy at 5710$. Now i'll wait.
Comment:
Ok tightening my stop.
Will check back tomorrow.
Don't remember to put your SL.
We're STILL playing with fire here, look at daily candle ...
Will check back tomorrow.
Don't remember to put your SL.
We're STILL playing with fire here, look at daily candle ...
Comment:
*Don't forget to put you SL*
Obviously ...
Obviously ...
Comment:
This is actual short term picture, after hourly close.
