Market panic has resided as BTC 1.53% has found support at the 6100 level just above it’s yearly low. Stochastics for BTC 1.53% and other coins are bouncing off of the oversold mark. Disenchanted sellers have been been shaken from the market.
Stochastic indicators are recovering. With the RSI bouncing back from oversold on the daily and 4h time frames. The daily in particular give the bulls room for a small recovery run.
Our overall targets are still in the 4000-5000 range but we will enter a short-medium term trade here with a small portion of capital.
Exchange: Binance
Term: Short/Medium
Buy between:
6300-6400
Sell Targets:
- 6581
- 6892
- 7154
- 7317
Stop loss: 5891
Stochastic indicators are recovering. With the RSI bouncing back from oversold on the daily and 4h time frames. The daily in particular give the bulls room for a small recovery run.
Our overall targets are still in the 4000-5000 range but we will enter a short-medium term trade here with a small portion of capital.
Exchange: Binance
Term: Short/Medium
Buy between:
6300-6400
Sell Targets:
- 6581
- 6892
- 7154
- 7317
Stop loss: 5891
Trade active
Comment:
Target 1 Achieved! Congratulations if you followed our signal! Move stop loss to entry.
Comment:
We have acheived our first target of 6480 and completed the 3 waves of a correction. Now we wait to see if BTC returns to trend or begins a new wave upwards. Price movements in the last 3 hours have dipped outside of our upward trend channel, but not significantly enough to throw away our current scenario.
We have already made 5% on this trade. Stop Loss has been moved to entry so our capital is secure. Great work to everyone who followed this signal!
We have already made 5% on this trade. Stop Loss has been moved to entry so our capital is secure. Great work to everyone who followed this signal!
Comment:
We saw a perfect retrace and retest of the support after a rally up to 6800. Now we will see if the pullback gives BTC the fuel it needs to push through this resistance. A failure here will be bad news for our scenario. Keep stop losses at entry or - if you're more risk adverse - move them to the edge of our support zone at 6500.
We saw a perfect retrace and retest of the support after a rally up to 6800. Now we will see if the pullback gives BTC the fuel it needs to push through this resistance. A failure here will be bad news for our scenario. Keep stop losses at entry or - if you're more risk adverse - move them to the edge of our support zone at 6500.
Trade closed: stop reached:
BTC hit our stop loss this morning during the second breakdown of the market. This is one of the reasons it is so important to respect stop losses - they allow us to protect our gains in a bear market!
We expect a small bounce around the 6000 level - don't be fooled. We need strong volume coupled with a very strong reversal indicator to re-enter the market. A breach of 5900 could trigger a cascade of stop losses taking us to 5000-5400.
BTC hit our stop loss this morning during the second breakdown of the market. This is one of the reasons it is so important to respect stop losses - they allow us to protect our gains in a bear market!
We expect a small bounce around the 6000 level - don't be fooled. We need strong volume coupled with a very strong reversal indicator to re-enter the market. A breach of 5900 could trigger a cascade of stop losses taking us to 5000-5400.