As many of you know, I havent been charting as often because nothing new really has happened with btc . We are still falling. I am not looking at a longer term due to MA resistances in the monthly that has kept suppressing BTC price and I know we will see more lower prices. The question always remains, how low?
At this point I am still targeting 4.1K with a longer term of 2.8-3.1k price range. I am hopeful for BTC to bounce off the 55MA for some bulls market however it is a little early to say since ichi cloud is dangerously flattening. It is not a good sign people. Trade with caution .
You know the drill, your money your choices, this isnt an advice to trade but an idea to share.
We will see how it ends.
BTC broke a mjaor support line which has always been my long entry area. made a good money buying btc every time it mingled around the lower 6k area with a stop lose of a close below the 5800$ , which did hit my SL only once after a succesful 4 nice bounces when people like you were calling 2-3k , i rode every single bounce and I win overall, most good traders longed btc at that support line and made profit , what did you do ? keep calling 2-3k, you are nothing better than the moon boys holding and waiting for 19k again. the market will not go straight to 2k neither 20k,the smart once know that and make use of it. in the long run I do think 3k is very possible but that does not mean I wont take a long position at 4800-5200 just to scalp a correction. i chose my entries with at least 1:3 SL to TP ratio so all i need is 1 good call against 3 bad once to stay at break even. I am doing pretty fine simply because I do not get married to one 1 direction, i called 20k when we had a false break out of the descending triangle, as any one who knows TA would, but it turns to be a false one, and i changed my call imiedietly and started calling 5500$, i change my mind as the market does, you wanna sit there and keep waiting for 2k be my guest. you and the moon boys can keep calling those figures while the rest of us make money trading both ups and downs.