Hi guys, good Monday! yes, BTC was again crazy, now at 65 levels. we are seeing some bullishness. what did I told you? yes, it will go! I left a comment yesterday to buy at 63 and 62 levels, for you guys to benefit!
you see, when weekly candle closes, BTC tend to challenge that to make a HH or a similar price level. yesterday was crazy, it went to 6460, dropped to 6360~70 level, but started to make a huge run! people who went short at 63 levels, oh gosh, I wish them well. NEVER underestimate BTC,
when a weekly candle close time is nearing! of course i held on to my longs, took profit at 65 levels.
but, now what?
last week, i told you guys that it would go to 62.~63.3 level, i bingo'ed it, came right back up. however, we do face resistance at 66 levels, but we did make a HH in lower timeframes, considering the RSI level in time and daily frames, for more divergence whether it is bullish or not,
it will try higher levels in the coming 2 days. also, the weekly candle close is pretty bullish, increased a bit, and this tells it will try high levels.
but i think, there is a chance this trip might be short lived at 66~68 level. over 7k, is now little unlikely. below is the daily chart.
ok, the daily has a chance to replicate what it has done in the past. always faced strong resistance at 21ema, 50ema. we see resistance in RSI at 47~50 level, trying desperate to make a move above it. so daily 21ema, now 6640ish, is a good place to short BTC. it can go up, but usually it retraces back below. 50ema, now 6890, is also good shorting spot. what i want to see is that it makes a high than 6640, but rsi goes down, or it makes a low than 66, but rsi goes up. any signal is absolutely a short signal.
however, if the run surpasses both 21 and 50ema with high volume, stop should be triggered!
as you see in the daily rsi, if we are hit by 50 resistance and goes down, we have to see much more downtrends in the near future. that means that shorts that we are opening now, we are going to target 5k zone! maybe 58 or 57 something like that.
so i think, at this point, it can go 67 level at max. over 68 is possible, but over 69 is not so convincing at the moment.
it is worth to open short orders in the next 2~3days. from 6570~68 at highest i think. going long? well if we surpass 21ema, 50ema with high volume, see pullback, we can try. from now, i do not think we will see pullbacks to 62 or 63, this challenge to go over 6640 will begin from 64.2 range at the lowest.
if, we fall from this range to 5.8~5.9k...do not dream of a big bounce. it will only give a few hundred dollar bounce. 57, 58....they will be just another 'bus stop' to 5.5k and below.
however there is also a chance that this thing breaks up!! who knows!! when everybody thinks about shorting at neckline, btc jumps right back in sometimes! but chart indicates bearishness, so i stick to that now.
ok so trading plans are.
1. open long
do not recommend at this level. only if 64.5 pullback come you can try.
2. open short
6570/6620/6640/6730/6840. buy small amount first, double it. that is the fun of margin. for this trade i would use 15 leverage, about 60~65% of my money. always leave some for margins, managing liquidation. let's say you have 1000 dollars. only buy like 50 dollars at first level,
buy another 50 next, double up to 200....many people just 'all-in' at one price but no! we must think that btc can run pass us, we have to wait for upper levels. if it confirms a uptrend, we can sell at pullbacks with no loss, and make another strategy.
if price do not reach our target, we heavily open shorts at structure breakdowns. that means we have already hit the high... i will update this.
target-5.8~9k/or below
have a good one!
you see, when weekly candle closes, BTC tend to challenge that to make a HH or a similar price level. yesterday was crazy, it went to 6460, dropped to 6360~70 level, but started to make a huge run! people who went short at 63 levels, oh gosh, I wish them well. NEVER underestimate BTC,
when a weekly candle close time is nearing! of course i held on to my longs, took profit at 65 levels.
but, now what?
last week, i told you guys that it would go to 62.~63.3 level, i bingo'ed it, came right back up. however, we do face resistance at 66 levels, but we did make a HH in lower timeframes, considering the RSI level in time and daily frames, for more divergence whether it is bullish or not,
it will try higher levels in the coming 2 days. also, the weekly candle close is pretty bullish, increased a bit, and this tells it will try high levels.
but i think, there is a chance this trip might be short lived at 66~68 level. over 7k, is now little unlikely. below is the daily chart.
ok, the daily has a chance to replicate what it has done in the past. always faced strong resistance at 21ema, 50ema. we see resistance in RSI at 47~50 level, trying desperate to make a move above it. so daily 21ema, now 6640ish, is a good place to short BTC. it can go up, but usually it retraces back below. 50ema, now 6890, is also good shorting spot. what i want to see is that it makes a high than 6640, but rsi goes down, or it makes a low than 66, but rsi goes up. any signal is absolutely a short signal.
however, if the run surpasses both 21 and 50ema with high volume, stop should be triggered!
as you see in the daily rsi, if we are hit by 50 resistance and goes down, we have to see much more downtrends in the near future. that means that shorts that we are opening now, we are going to target 5k zone! maybe 58 or 57 something like that.
so i think, at this point, it can go 67 level at max. over 68 is possible, but over 69 is not so convincing at the moment.
it is worth to open short orders in the next 2~3days. from 6570~68 at highest i think. going long? well if we surpass 21ema, 50ema with high volume, see pullback, we can try. from now, i do not think we will see pullbacks to 62 or 63, this challenge to go over 6640 will begin from 64.2 range at the lowest.
if, we fall from this range to 5.8~5.9k...do not dream of a big bounce. it will only give a few hundred dollar bounce. 57, 58....they will be just another 'bus stop' to 5.5k and below.
however there is also a chance that this thing breaks up!! who knows!! when everybody thinks about shorting at neckline, btc jumps right back in sometimes! but chart indicates bearishness, so i stick to that now.
ok so trading plans are.
1. open long
do not recommend at this level. only if 64.5 pullback come you can try.
2. open short
6570/6620/6640/6730/6840. buy small amount first, double it. that is the fun of margin. for this trade i would use 15 leverage, about 60~65% of my money. always leave some for margins, managing liquidation. let's say you have 1000 dollars. only buy like 50 dollars at first level,
buy another 50 next, double up to 200....many people just 'all-in' at one price but no! we must think that btc can run pass us, we have to wait for upper levels. if it confirms a uptrend, we can sell at pullbacks with no loss, and make another strategy.
if price do not reach our target, we heavily open shorts at structure breakdowns. that means we have already hit the high... i will update this.
target-5.8~9k/or below
have a good one!
Comment:
Guys you can open some longs at 64 level. If dip to 63.8 and below i would just stoploss. Not convincing below that.Targets are the short position prices that i wrote. It has some possibility of making a higher high than 6640 in next 1~2days. Also If you are more conservative on opening shorts you can open them from 6640+@
Trade active:
i entered my first position at 6456, second one would be 6407, stop is 6380(more likely would just sell at its bounce to 64). let's see.
Comment:
4hr 21/50 EMA golden cross might happen, it could help the short run, just for your reference.
Comment:
oh no! we had a shooting star candle at 4hr. mixed signals!! if you go long please stoploss at 6380.
Comment:
ok. we can try to go long at bottom support level, till 6370~80, if it comes down. exactly where stoploss is. if it falls below that to like 6250, or 60, things definitely will not look good!
Comment:
selling pressure is very high. if 6380 is broken, next stop is 6330ish, not looking good at the moment. i got in 6388. see for the next 2~3hours if it holds, goes over 6450, things can look better. if not, you can sell it keep secure profits.
Comment:
Ok. Looking better and better~hold on for now. Lets see if btc can make 6450 as support and climb up.
Comment:
BTC looks much better now!you can take some profit, but i think their could be a wave up. Sell some at 65 levels and naybe 66. Switch to short at 66 or even 67 level.have a good one!
Trade closed: stop reached:
Ok.dragging down.