BTCUSD - Potential Short Term Scenarios With Options...
I will post the cover chart again below for easier reading of the text bubble and include the body of the text inside the text bubble in these comments.
We are looking at $8,456.31 by April 29, 2020 -OR- $9,230.66 by May 2, 2020.
Then we see consolidation resulting in one of four scenarios:
POSSIBLE SCENARIOS:
1) We see a PRICE correction back down from $8,456.31 to $7,960 to find support on the White 200-EMA
before continuing back up once again.
2) We see a PRICE correction back down from $9,230.66 to $7,960 to find support on the White 200-EMA
before continuing back up once again.
3) We see a TIME correction going sideways between $9,450 and $8,850 before continuing up again.
4) We have a brief dip down to the $7,233.50 area before going back up to the RED/YELLOW Channel on
the chart. In which case, you must consider where to place your stop loss if you are currently margin
long.
TRADING OPTIONS:
1) Remain Long if in a Long Position from less than $7,150 and take 75% profit at $8,425 while holding on
to remaining 25% with trailing stop to what may potentially be a $9,230.66 local high on or around
May 2, 2020.
2) Remain Long if in a Long Position from $7,150 or higher and take 100% profit at $8,425. Then make
preparation to go margin long again on a potential price correction down to the $7,960 area.
3) Make preparation to go margin long on a potential dip to the $7,233.50 price point.
4) Make preparation to accumulate for a potential TIME correction between $9,450 and $8,850 if a TIME
correction appears to have a high potential of playing out according to the indicators at that time.
CONSIDERATIONS:
The 2-Day, 3-Day and 4-Day time frames continue to show upward pressure still dominating for the mid
term. I will wait for a new Weekly candle before posting a long term analysis. Since upward pressure
still dominates, one must be cautious of opening margin short positions with less likelihood of big
profits; as the potential for big profits is higher if one were to wait for a POTENTIAL dip from one of the
price points previously mentioned and open a margin long position at or near the bottom of a potential
dip to the $7,960 area.
ALL TRADERS should look to ACCUMULATE at least 75% for their long term HODLING BAG because I'm
of the opinion we likely do not see this current price again in the near future if my analysis is correct. If
we go up to my anticipated $14k price point last week of May or first week of June, at worst, we could see
a consolidation back down to current price level of $7,500. It may only consolidate back down to $7,820.
Then again, it COULD go higher than $14k and consolidate to a higher level than $7,820. In this case, I'm
of the opinion NOW is the time to ACCUMULATE for long term investment if you have not done so already.
KEEP IN MIND: ALL OF MY IDEAS ARE MY OPINION ONLY...
I want to thank my followers for your continued support!
As always... Stay Awesome!
David
We are looking at $8,456.31 by April 29, 2020 -OR- $9,230.66 by May 2, 2020.
Then we see consolidation resulting in one of four scenarios:
POSSIBLE SCENARIOS:
1) We see a PRICE correction back down from $8,456.31 to $7,960 to find support on the White 200-EMA
before continuing back up once again.
2) We see a PRICE correction back down from $9,230.66 to $7,960 to find support on the White 200-EMA
before continuing back up once again.
3) We see a TIME correction going sideways between $9,450 and $8,850 before continuing up again.
4) We have a brief dip down to the $7,233.50 area before going back up to the RED/YELLOW Channel on
the chart. In which case, you must consider where to place your stop loss if you are currently margin
long.
TRADING OPTIONS:
1) Remain Long if in a Long Position from less than $7,150 and take 75% profit at $8,425 while holding on
to remaining 25% with trailing stop to what may potentially be a $9,230.66 local high on or around
May 2, 2020.
2) Remain Long if in a Long Position from $7,150 or higher and take 100% profit at $8,425. Then make
preparation to go margin long again on a potential price correction down to the $7,960 area.
3) Make preparation to go margin long on a potential dip to the $7,233.50 price point.
4) Make preparation to accumulate for a potential TIME correction between $9,450 and $8,850 if a TIME
correction appears to have a high potential of playing out according to the indicators at that time.
CONSIDERATIONS:
The 2-Day, 3-Day and 4-Day time frames continue to show upward pressure still dominating for the mid
term. I will wait for a new Weekly candle before posting a long term analysis. Since upward pressure
still dominates, one must be cautious of opening margin short positions with less likelihood of big
profits; as the potential for big profits is higher if one were to wait for a POTENTIAL dip from one of the
price points previously mentioned and open a margin long position at or near the bottom of a potential
dip to the $7,960 area.
ALL TRADERS should look to ACCUMULATE at least 75% for their long term HODLING BAG because I'm
of the opinion we likely do not see this current price again in the near future if my analysis is correct. If
we go up to my anticipated $14k price point last week of May or first week of June, at worst, we could see
a consolidation back down to current price level of $7,500. It may only consolidate back down to $7,820.
Then again, it COULD go higher than $14k and consolidate to a higher level than $7,820. In this case, I'm
of the opinion NOW is the time to ACCUMULATE for long term investment if you have not done so already.
KEEP IN MIND: ALL OF MY IDEAS ARE MY OPINION ONLY...
I want to thank my followers for your continued support!
As always... Stay Awesome!
David
Comment:
Comment:
Here are a few more occasions in history with the Stochastic RSI performing a brief dip shortly after reaching the 100% level.
Comment:
Keep in mind, if you are not margin long yet, you may want to consider waiting for a potential dip in the price action before opening a long position. If it does not play out and we keep going higher before a dip in the Stochastic and price action, you can open your long position THEN. One of my most important rules: Do NOT feel like you have to always be in a trade. If you missed a trade, WAIT for the next one! Do NOT force a trade that can go either way; as is the case now. Simply wait till the odds are much higher for the trade to work out in your favor. We are currently in limbo waiting to see what occurs. I'll follow up with a video after I fix some coffee.
Stay Awesome!
David
Stay Awesome!
David
Comment:
I should have said, "If you were not ALREADY margin long from $7,150 or lower... NOT margin long "yet." I don't want you to assume I'm saying to go margin long right this very moment while we are in limbo.
CONSIDERATIONS:
The 2-Day, 3-Day and 4-Day time frames continue to show upward pressure still dominating for the mid
term. I will wait for a new Weekly candle before posting a long term analysis. Since upward pressure
still dominates, one must be cautious of opening margin short positions with less likelihood of big
profits; as the potential for big profits is higher if one were to wait for a POTENTIAL dip from one of the
price points previously mentioned and open a margin long position at or near the bottom of a potential
dip to the $7,960 area. Also remember there is a CHANCE we come down to the $7,233.50 price point. In which case, prepare to open a margin long position as well.