Hey everyone, I will be trying to post more on my account. Been very busy with school and this pandemic but I for sure will try to expose more ideas. Recently, I've been looking to improve my trading and now I feel like I have finally come to a point where I'm starting to feel confidence in trading. I moved away from indicators, and all this crap. Mainly I look at price and see what it is doing. No, I didn't learn overnight, but I'm glad I never gave up.
I read a quote, it said "When you want to give up, don't forget why you started" and I think we all can see here what it can mean us traders. We always get hurt, we lose money, we change strategies, etc. But don't give up. Work hard and I promise you results will come. There is no easy way out of this industry, it's like a business.
If you want to be a doctor, you learn, you practice, you must work hard. Similarly, with trading, you must learn, take time to develop this practice, and then you will see success. Anyway that's my little motivation for you guys, on with the analysis:
Looking at BTC, we see currently it is in a very strong down trend, price looks to be forming a double top. We see some nice wicks, and a beautiful reversal pattern. This checks out for me. We see that there was a low that was previously created but it did not break the previous low, this could mean that the small rally up might be exhausted. Bitcoin could drop all the way to 5200 ish, but we could see a continuation of this forming uptrend if we fail to break 5200. On the 4HR, we also see a fakout to the upside, this shows great potential short for a little bit right now. 5200 seems like a great area to buy possibly, if we start to see some rejection there as well. Could form a double bottom too.
Cheers all, please provide any feedback or ideas you may also have. Feel free to follow, and like my ideas. Always willing to talk to you all. Happy trading and stay safe. <3
I read a quote, it said "When you want to give up, don't forget why you started" and I think we all can see here what it can mean us traders. We always get hurt, we lose money, we change strategies, etc. But don't give up. Work hard and I promise you results will come. There is no easy way out of this industry, it's like a business.
If you want to be a doctor, you learn, you practice, you must work hard. Similarly, with trading, you must learn, take time to develop this practice, and then you will see success. Anyway that's my little motivation for you guys, on with the analysis:
Looking at BTC, we see currently it is in a very strong down trend, price looks to be forming a double top. We see some nice wicks, and a beautiful reversal pattern. This checks out for me. We see that there was a low that was previously created but it did not break the previous low, this could mean that the small rally up might be exhausted. Bitcoin could drop all the way to 5200 ish, but we could see a continuation of this forming uptrend if we fail to break 5200. On the 4HR, we also see a fakout to the upside, this shows great potential short for a little bit right now. 5200 seems like a great area to buy possibly, if we start to see some rejection there as well. Could form a double bottom too.
Cheers all, please provide any feedback or ideas you may also have. Feel free to follow, and like my ideas. Always willing to talk to you all. Happy trading and stay safe. <3