Holding BTC still and looking at dips. No shorts yet! Here i give some thoughts on channel trading and show how i think its likely alt season is beginning while we consolidate on BTC
Comment:
One support line missing at 30600. Really any support lines above the control line are ok dip buys. Hold and take profits when we hit resistance above properly on big divergence of indicators. Then continue to buy the dips all the way until weekly/ monthly uptrend turns bearish (thats a long way away). No shorts unless see quick opportunities with major divergences as we go up.
Comment:
here we can see price flirted with breaking the channel control line but there was too much support and we are at oversold levels on 1hr and 4hr. Its also monday morning in the US big money is open for business so buyers stepped in
here we can see price flirted with breaking the channel control line but there was too much support and we are at oversold levels on 1hr and 4hr. Its also monday morning in the US big money is open for business so buyers stepped in
Trade active:
Still holding BTC as it became clear that this is just sideways range trading consolidation- expect the next wave up soon.
Comment:
Here we can see that BTC is still ranging- don't panic if your long. I've drawn a potential bull flag. Add on value expect a retest at the top. Its quite possible price will retrace and take out the low last week before swiftly moving back up.
Here we can see that BTC is still ranging- don't panic if your long. I've drawn a potential bull flag. Add on value expect a retest at the top. Its quite possible price will retrace and take out the low last week before swiftly moving back up.
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
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Telegram coming soon.