thiluxan_s

BTC Short Term 1HR Possible Setups

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Just some patterns on the hourly.

Upward movement since the larger dump from 9.8k
Not the cleanest but ascending triangle with lower highs in this upper channel.

Would like to see more volume though from a bullish standpoint. Could have some possible long opportunities but set tight stop loss.
Trade active: Closed my long position for the time being as my short-term target has been achieved at the dotted line inside the upward channel. Currently getting some rejection there but will see if price holds. Sideways price action will keep me somewhat bullish in the short-term and look for a quick opportunity to the upside of the channel.

Keeping this setup active while i observe price action on the sidelines. Essentially keeping the idea that we could have continuation of the recent dump to the downside.

Comments

I believe that the big players are waiting for a super dump from the traditional markets. Personally they are following Nasdaq and S&P, I can already see a difference in the RSI of the Nasdaq chart in 4H. Bearing in mind that Nasdaq corrected more than 78.6% Fibonacci. The detachment of stock exchanges with reality is huge, the FED will not be able to handle it !!
+1 Reply
thiluxan_s macotta
@macotta, Hey, thanks for the ideas! I totally agree, I do think there's going to be a big dump which is why i put the big white arrow so people don't get the idea that im bullish. I agree once the traditional markets dump big BTC will follow as well. We've been having mainly bullish action for the past few months and a retracement is due imho.

I've reached my short-term long target and atm im on the sidelines waiting for the next opportunity. Cheers! :)
Reply
hi bro,agree with ur long,i wait rise to 9200-9500 then fall
+1 Reply
thiluxan_s trytofeelpositive
@trytofeelpositive, Hey man, thanks for sharing! For the time being i've closed my long but I can definetely see those price ranges in the cards. Im personally waiting to see whether we're going to have bullish continuation or a perfect short opportunity at those price levels. Cheers!
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