To begin, congratulations to those who have followed my recent calls on Bitcoin. Hope you are enjoying your profits so far. In Chinese, we called it “eat chicken” when we make profits. Have you had some chicken yet?
Recently we have been making decent profits, however, don’t get too excited too soon as technically speaking we are still in a bearish market. Daily 200EMA is still above and $7900 & $8400 are all huge resistance levels. Plus, Weekly 200EMA is still below @ $3700 in which we need to pay close attention to.
At the current price level, there are not many buyers or sellers are willing to buy/sell. Buyers are waiting to buy-in between $6700 - $7200 as they feel missing out the recent big moves, while sellers are waiting for the $7800/$8400 resistance levels to short. In other words, I expect Bitcoin to consolidate a bit before making the next move, which is also in line with my previous TA from 3 weeks ago that I expect some consolidation between these levels.
Please keep in mind, Bitcoin does NOT necessary have to retrace back to the $6700 price level. If you zoom in to the 30mins chart you can clearly identify a minor support at the $7260 level. There is no bearish sign yet on any given time frame. I can see some traders are shorting the market now thinking Bitcoin will def go down, after a huge pump. But does the market go up and down in one straight line?
Yesterday, @goldbug1 on TradingView said – “Now that the market has turned so has the sentiment of most so called "technical analysts", and they are feeding into the herd. Many are just guessing at direction, and do not understand how markets work in general. We could go here, we could go there, and then grandstand when it happens, of course often they are taking both sides of the trade yet never post an actual one.”
The reason I am quoting his words here is because I see too many top “technical analysts” who always give both sides of the market yet they always claim their calls as perfect. Please tell me, how could they be wrong? I feel the need to give out a warning to people who is new to trading – don’t trust anyone who never post an actual trade. “Execution” and “A possible market movement” are completely different things. One could be right with his predictions but still lose money.
Please don’t fall into the trap of – “Trade signals are for VIP/Paid subscribers only”. Would you trust your money with these people? Personally, I wouldn’t.
Taiwan Bear ************************************************************************************************************************************************************************************************************** This analysis is for informational purpose only. Please keep in mind there is a huge risk in trading. Don’t expect you can make profits from every trade. 50% winning ratio is considered as good ratio as long as the risk/reward is good.
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Hi guys, below is a debate between the top trader on TradingView and me. I will let you be the judge and see who makes more sense.
Since he left a comment my post have been removed from the idea page in which no where can be seen. I do not care how many followers I have as I do not intend to make money from my followers. But what TradingView did has pixxxx me off.
There have been several companies who approached me and asked me to either to advertise their products/services, I rejected them all.
Because of that, I have decided to move to the Chinese platform until TradingView gives me a good explanation. As part of my verbal agreement with Chinese TradingView platform, I receive free TV subscription if I constantly post my ideas on the Chinese platform. This does not include the English version. However, I still spent most of the time here answering questions and post my ideas for free. I have only been posting only about 4 charts in the Chinese TV platform within the past 5 months.
I would hate to see you leave, your views are greatly appreciated and you would be missed :( If you do go, I wish you well on all your endeavours and thank you for your posts!
lady_luck
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For what it matters, I've been on TV for 4 years, you are one of the few chartist I read atm and your work is always useful to my own.
I appreciate that despite having a lower bottom in mind you got in that rally
I appreciate that you often state your own entry, even when it doesn't look like a perfect one
I respect that you don't turn TA into a contest of popularity
I respect that you can take a stance that goes against the popular opinion
i rarely see any good analysis from top authors, just crowd-pleasing catch-phrases.
I miss the days, when we could have an opinion on here, disagree, discuss, interact with other authors without turning it into a high school drama.
Keep up your good work and don't let anyone bully you away
Aeshare
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Hello, I am your huge supporter. I’ve always received a lot of help from your analysis since March; I was just too lazy to even make an account and leave a comment. This probably is the first comment on TV. I will try to be more active supporter. Please don’t leave TV! Thanks for your contribution :)
chy_se
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@Taiwan_Bear I hope that you would continue work TA work here. We've been learning a lot from you and honestly I don't just believe everything I read. I am learning what works what doesn't work. You are my favorite TA pro. Just want to let you know that you have my full support. Please let us know where we can follow you. Good luck!
Baconneggs
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thanks for your ideas, i have enjoyed reading and following.
CryptoManiac101
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Nice chart, keep it up my friend
Kool_Keith
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Taiwan Bear - "don’t trust anyone who never post an actual trade. “Execution” and “A possible market movement” are completely different things. One could be right with his predictions but still lose money.
Please don’t fall into the trap of – “Trade signals are for VIP/Paid subscribers only”. Would you trust your money with these people? Personally, I wouldn’t"
winmorepips
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any new update on btc ? thank you
BlurShines
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Hey @Taiwan_Bear Please don't let the small minded people win by leaving... You have too many people like me who appreciate you and the value everything is ng you bring.... So **** the idiots... btw, who is is the other TV person you had a dispute with
Taiwan_Bear
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@BlurShines, Look at our arguments below. The guy just keeps lying to his followers about his trade. But it looks he knows someone from TradingView (probably a MOD) because one of my followers left a comment just below your comment but got removed completely. It doesn't even show the "Comments removed".