Hey all!
Since the 19th of July our system has told us to seek to buy higher lows on Bitcoin, our latest additions of buys came in today since we are not expecting a bullish breakout to occur within the next 3-5 days (including today)
The upcoming challenges for the bulls are listed if we make a breakout and hold it.
There are 3 types of breakouts, and we are ready to trade them all with our "trade what you see" philosophy, they are:
1. Rocket = Self-explanatory, market breakout and continues to shoot up
2. Tennis ball = this is when the market tests the support and moves up (the resistance turned support in this case)
3. The Egg = Where we breakout and fail
Based on the current sentiment of the markets in general, indexes included, we'd say that there is a very solid chance Bitcoin continues to trend up for now, yet it is still not out of the bearish woods.
Be safe and happy trading!
Since the 19th of July our system has told us to seek to buy higher lows on Bitcoin, our latest additions of buys came in today since we are not expecting a bullish breakout to occur within the next 3-5 days (including today)
The upcoming challenges for the bulls are listed if we make a breakout and hold it.
There are 3 types of breakouts, and we are ready to trade them all with our "trade what you see" philosophy, they are:
1. Rocket = Self-explanatory, market breakout and continues to shoot up
2. Tennis ball = this is when the market tests the support and moves up (the resistance turned support in this case)
3. The Egg = Where we breakout and fail
Based on the current sentiment of the markets in general, indexes included, we'd say that there is a very solid chance Bitcoin continues to trend up for now, yet it is still not out of the bearish woods.
Be safe and happy trading!
Comment:
Based on the fact that we are holding steady above the VWAP for now, we are expecting today to be a solid bullish day and that yesterdays high could be targeted, and maybe even broken.
Comment:
Breakout attempt happening now!
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We believe that the next vital level on Bitcoin will be the 29832 area
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The idea failed, we have switched to shorts, new post coming