monetae_CB

BITCOIN - Do NOT take a position YET! #2

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The Bitcoin market is currently undecided. Most of the common used indicators are neutral.
The price is sitting slightly above the EMA 9. The 4h candle opened a few minutes ago,
i think the price action in the next 4 hours will give us a better idea of where the price is going.
While the overall trend is down, we are in overbought territory on the 1D frame.
We are also sitting right above a strong support zone at 7800.00.
This means the following to options are in sight:

If this candle closes below the dotted line at 8145.00 we will probably go down and test our support zone ,
located between 7700.00 and 7900.00 - which could break if high volume kicks in.

If this candle closes above the dotted line at 8215.00 we will probably go up to our resistance zone ,
located between 8600.00 and 8800.00.

Wait for the market to give you a clear signal.
I will update this chart accordingly.

Leave a thumbs up if you like my idea and let me know what you think!
This will keep me motivated :-)

Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only

Oct 09
Trade active: High volume, strong momentum - Buy (Long): 8230.00
Oct 09
Trade closed: target reached: 30% of the position at 8430.00
Oct 09
Comment: We face some resistance in the 8500.00 area. That's where most sellers entered the market in the past days. After this strong move (8200.00 to 8450.00) you can expect a small pullback here
Oct 09
Trade closed: target reached: remaining position closed at 8620.00
Oct 09
Comment: Update (15m Chart)

Oct 10
Comment: Updated Idea #2

Oct 12
Comment: Updated Idea #3

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sharing my chart with you, any thoughts?
+1 Reply
monetae_CB CryptoBullet
@CryptoBullet, i like your analysis in general buddy! let's see if we can break the current resistance to reach your last target.
Reply
monetae_CB CryptoBullet
@CryptoBullet, also thank you for sharing :-)
Reply
Any update Sir?
+1 Reply
monetae_CB missingsandwich
@missingsandwich, i will update this chart in a few hours. I will notify you buddy
Reply
what Can we do now sir!!
+1 Reply
monetae_CB afshinnejatkhah
@afshinnejatkhah, some might take a short here because we are at the resistance. i would not take any position until things have settled down.

i'll post an updated idea in a few hours buddy!
Reply
@monetae_CB, thanks sir i wait for your update
+1 Reply
monetae_CB afshinnejatkhah
@afshinnejatkhah, idea updated buddy. Didn't want you to wait for it
Reply
@monetae_CB, thanks sir
+1 Reply
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