IvanLabrie

BTCUSD: Update - Previous setup results were good, careful now

BITSTAMP:BTCUSD   Bitcoin / Dollar
2 years ago
The chart shows the currently active bullish setup on the weekly chart, as well as the important support levels below.
We should pay attention in the coming days, since I think we will see a retracement soon.
As long as we're producing weekly highs every 5 weeks, we're in a strong uptrend, specially while sitting above the weekly mode, from where a 18 week rally launched in time at mode terms.

Next step would be to look for retracement entries to go long, unless the bullish setup gets invalidated.
The aggressive entry location would do for a good entry, but the stop loss is considerably wide, that's why I label this chart as neutral.

I'll update it if a new setup worth your attention shows up on the daily and weekly timeframes.
Cheers,
Ivan.
a year ago
Trade closed: target reached
FluidicFX PRO
2 years ago
Thanks for this.
+1 Reply
MaryJane
2 years ago
thx for sharing..here is my view
https://www.tradingview.com/chart/BTCUSD/XG1K9P6R-Retest-of-the-Break-Out-level/
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IvanLabrie PRO MaryJane
2 years ago
Yes, same page. Your retracement entry would align with my bullish aggressive entry.
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MaryJane
2 years ago
snapshot
and here the possible correction levels (fibos)
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Lanmar PRO
2 years ago
Think we're on the same page..
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IvanLabrie PRO
2 years ago
Retracement looks incomplete.
Adding a fib time overlay gives me a few more days left of correction.
It's interesting to note that the Rgmov indicator looks like it has found a very significant bottom, and the monthly chart has fired a 6 month uptrend, which is a very strong signal for the bulls to wait for the retracement to rebuy.

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IvanLabrie PRO
2 years ago
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IvanLabrie PRO IvanLabrie
2 years ago
Went long using the quarterly futures contract 10x leverage, entry was 282.84.
Targetting a retest of the highs or higher.
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IvanLabrie PRO
2 years ago
Price was rejected by the level I labeled as an aggressive long entry stop.
I went short using futures but covered early and booked my 1.33% profits.
I'm monitoring price action for clarity, I think my estimation of 14 days worth of correction might be correct.
I doubt the trend is down again.
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IvanLabrie PRO
2 years ago
We might rally from here, watching closely to go long with leverage.
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IvanLabrie PRO
2 years ago
Interesting range expansion day.
Watching for follow through, if not, I'll short it.
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IvanLabrie PRO
2 years ago
Tom Killick posted a great chart today, refer to his for the short idea.
I'm of the same opinion, this potential support might be turning into resistance now, reeks of profit taking by a pump and dump operation.
BTCUSD: Nice Level To Get Short Into This. #Bitcoin
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timwest PRO
2 years ago
I see the RE Buy signal worked, but with a bit of suffering first.
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