As I'm sure you all have seen BTC's price action lately you're all probably super bullish. (this might be the scenario where FOMO kicks in and carries us past 10500 resistance and straight to 0.5 fib level (10894).
HOWEVER in the flip side of things, If we don't manage to break 10500 or close above 10k on a daily close bears still have a shot to protect the 2 & a half year down trend and historical resistance.
REMEMBER: 1. Stick to your TA - not your emotions or "gut feelings" 2. Think with logic, intelligence, knowledge, experience & confidence - NOT fomo, emotion, or greed/fear. 3. BE consistent every single day - this will eventually enable your mind to psychologically allow things to flow in ease without stress. 4. How to trade with logic - Over risking, Over leverage, and Overthinking will destroy your trading career before it even starts if you can’t learn to control those 3 things. 5. Protecting capital = small gains = big gains overtime and you have funds for the best opportunities to capitalize. 6. EVERY trade is either a blessing or a lesson - accept every loss & move on. 7. This is a MARATHON, not a SPRINT.
Short term: bearish if we lose 10k/bullish if we gain 10500
Medium term: Bearish
Long term: BULLISH
PLEASE SMASH THAT LIKE BUTTON.
👍👍👍👍👍👍👍👍
Trade active
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What happened once we broke 10500? exactly what i said....STRAIGHT TO 10894...wicked to 10964
You went long here? Chance of it hitting 13k and filling that gap is higher than filling the gap at 9.5k for now I suppose..
Yurlo
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@alienteck, Originally i was long 9250 but made a mistake and closed because i thought it might break and my stop loss was 8775 (which was perfect). GREAT lesson, what's your position?
alienteck
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I can only go long.. This thing can shake out most stops. So best to buy when its testing some supports.. Last week was scary.. It could go to 7000.. but then news hit that a US federal judge ruled BTC was money.. Thats the rally over the week end.. This is only because now BTC is out of the large formation.. Normally it should not retest just yet with such a long consolidation period.. A restest would allow all those who missed out a safe and easy entry.. So we will see if it follows ETH or not.. Too many people waiting for a restest
Yurlo
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@alienteck I agree now it’s following gold for that reason!
alienteck
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As I'm sure you all have seen BTC's price action lately you're all probably super bullish .
It was only a week ago people were shorting because BTC was going to 7000... and longs were selling at 9100..
@alienteck Smart money (institutional) paints a false narrative before they get ready for the move coming. I’m sure you can figure the rest out on your own. Best of luck brother!
SlowAndSteadyTrading
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This is my recent TA I've posted on my page.
What's your thoughts?
Thanks for sharing.
Yurlo
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@SlowAndSteadyTrading, It will be an interesting week ahead, I'd like to see 10k - 10.5k hold on daily close for confirmation.
Or losing 10k for confirmation of a potential "top" signal.