Just to show you my trading is real I just got stopped out for an acceptable loss (i won't lose any sleep over small losses).
Stop losses are there for your safety to protect your capital when you are not in synch with the market.
What next? Well this is a 2-day pullback (which is quite normal in a strong uptrend) so let's see how the market reacts after this 2-day pull back. If we get a breaking of the top of today's bar I will re-enter Long but now with reduced risk.
If it doesn't break today's high then I will sit, watch, observe and reassess.
Sean Vengan Professional Cryptocurrency Trader and Trading Educator
We already dropped out of the bullish channel from 3k. This wave is over. It's either going to be boring sideways or dumpage imo. Also, I believe this area might even be the distribution zone for this bull wave (~$800-$4,500,) since monthly RSI is at 2013 levels, there's a huge div on weekly, we are overextended on weekly, etc (in order for weekly not to make a bear div it would need to go to the stars.)
Enneyk
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Bitcoin is topping for now...
SnowTurtle
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Currently there is more drama between BCH and BTC again so it'll probably dip for a while until it's resolved again.
roxananechita
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I also got out at cost from my long yesterday, at 4000. We are at the neckline of another head and shoulders. So, I would expect a little more drop if it breaks it.
roxananechita
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On 1h chart, for the last 4-5 hours we are just under 200 ma.
roxananechita
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On 4h chart we are under 50 ma but the candle is not closed yet.
roxananechita
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Yesterday we pierced 2 times trough 50 am and closed above it, I saw it as support. Let's see where we close the 3rd time (4h chart). I am on mobile and use the charts from my broker. Didn't check on investing.com
roxananechita
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On daily we are on the middle of BB (10 days).... It should be a good entry point for a long... :) I wait a little more to see price action anyway before making an entry.
UnknownUnicorn1063189
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@roxananechita, Wait for some kind of trigger. My trading feeling is that this is minor pullback but I put real money on trades with reason measured moves not feelings.
UnknownUnicorn1063189
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@roxananechita, Don't worry where it is now. At the end of the day, we have down bars so the market is telling us it wants to go down and we must not fight it (because we will never win)
So let's stay chilled and wait and see how far it pulls back and then reassess