Some BTC set ups to look for

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTC has really struggled busting these highs. On ETH and XRP momentum was in our favor to put buy stops above and really play that upside. BTC should technically move to $8,800 but man has it been slow at breaking out. I would use caution trading BTC breaks right now.

I still prefer buying dips for SWING plays. ETH and XRP are really what's in play. But I will outline potential set ups.

1. Buy this break out for a further move up. (highest risk IMO )
2. Flipping BTC in this channel at the low $7,800 low for flips.
3. Wait for pull back and starting buying the dips how you want at these support zones. I will be playing it martingale style.

Your call on what you do!

Happy Trading,
Comment: And as always, please smash that like button if this helps your trading
Comment: You can see the resistance zone is holding strong. You could possibly put a buy stop above the 9k recent highs for a move up with this ascending triangle forming. Everything is oversold on the smaller time frames, but not the daily. Because of this, I would think any sideways movement would confirm a pullback, we would need a break sooner rather than later to confirm a stronger push up.

Trade closed: target reached: This last triangle play I laid out worked out well if anyone traded it. Closing out the triangle trade, it's hitting the top of my resistance zone. Waiting to see how things form up more before I do a more thorough analysis and looking for another trading opps.
Comment: While we are out of this trade for profit and sitting on the sidelines, but if you are wondering what my thoughts are, we need to break this up trendline for some type of further down move.If ETH is still leading, it sure pushed down a lot more than BTC has and btc is suppose to follow suit... but we'll see

Comment: I also drew some support points on that last chart. Those could be playable if you are watching them. I need some sleep... so if it goes there overnight, I won't be able to flip it.
All my posts are not intended as financial advice, just me sharing what i am doing with my research and positions. Don't stress, pick your points and don't use leverage.


Things can stay oversold for awhile after a a bear trend no?
Sherem AlexanderShillgin
@AlexanderShillgin, You mean as they push up? It all depends on how you look at it whether you look at a small or large time frame.
why aren't you using the log long-term wedge trend line instead of linear? We are pushing right up on it now which is why nothing is moving up last few hours
Sherem jimo79
@jimo79, Yeah it's about there, but I give more credence to BTC lagging because people are flipping there BTC over to ETH. ETH was/is in play right now, IMO.
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