Mushfiq

BTC MAMA beats the hell out of bears' ass

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTC MAMA woke up strong last morning and beat the hell out of bears ass. So I slept well tonight. Woke up this morning and found that she is still kicking ass. As I mentioned on the chart I posted a signal previously when the price was dropping below 9000. If you see the 4H chart carefully, the pattern inside the two yellow circle looks very similar. That's how I exactly imagined it. You can see, the price gets back in the Keltner Channel (Blue channel) and shoots back up to the upper edge. Even the Stochastics show similar pattern before the bulls came in. Unless there is a new FUD we should keep climbing the upper half of the Keltner Channel. Besides, the DI+ and DI- is crossing in the DMI indicator which is a massive bullish sign. Soon we should test the resistances around 10700 and above. We will burn the resistances one by one (hopefully). If we get rejected by the resistance ahead we may go down pretty low.

I'm posting a doodle from my previous post you may find interesting, which shows alternative scenarios. In the daily chart , we just a had a bullish crossover in the stochastic indicator. So, I'm bullish at this moment. We will see what happens. Trade safe. Thanks!



*** This is not a financial advice.
Comment: *** This is not a financial advice.

Bears got angry after my post yesterday and came back to attack us. Bull fought back in few hours. The market seems undecided. Yesterday we were having a cross between DI+ and DI- and right after they touched, it was taken away by the bears (green box). It seems like a good idea tighten the stop-loss around 8700 as we have got a new bear fractal there. Bulls are trying hard. Let's hope for the best.
Comment: Reached stop-loss. Broke to bear fractals in the four hours chart. Bulls are probably sleeping. Trade safe.
Comment: P.S. We might get butt kicked real bad :P
RIP Bulls
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Mushfiq venturetrade
@venturetrade, LOL. True!
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well done man.. but I guess you dont agree with IHS.
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Mushfiq busydanny
@busydanny, Thanks! I could be wrong. What does IHS say about it?
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