profghibli
Long

BTCUSD Bottom found or a at least a bounce is likely

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
3 hours ago BTCUSD Top/Bottom seeker had a buy signal on 6 HR graph (rather rare signal, only had 3 other buy signals this year)


I'd take a long here with the stop below 3657

Target conservative for now - 4506

Of course, gotta remember that past results is not an indicator of future performance
Comment: Looking good, almost 12% up since the post in a short time. Probably a good idea to move the stop loss above the entry now, to make it a risk-free trade going further.
Trade closed manually: Almost at the target (peaked at 4488, $12 away from the 4500 target), but looks like the end of the wave 5 on smaller timeframe, it'd be smart to take half the profit here ($4450) and leave the other half to ride long-term trade.
Comment:
Comment: Using the same indicator that was used for the entry at $3883 in this idea, on 5 mins Bitmex graph:
The green and orange boxes are buy and sell signals
only 1 of 6 signals was a complete failure
It's probably a streak of good luck/favorable conditions, but still. Goddamn.
Trade closed: stop reached: and stop reached. good thing we took half the profits at $4400s.

Not sure what is going to happen next, currently very busy with other stuff, do not have time to follow the market.

Comments

profghibli CryptoFido
@CryptoFido, I do not think that is a reliable way to find a bottom as you show, but I agree with the (at least short/midterm) bullish view.
Reply
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