The price is moving in the lower band of the Bollinger Bands. We open our position (Short) in our Sell Zone (Red Box) located between 7940.00 and 8100.00. I'm expecting a strong move within the next hours/ days. Our Target Zone (Green Box) is located between 7200.00 and 7400.00.
I will update this chart accordingly!
THANKS! For all the positive feedback im receiving lately. Leave a thumbs up if you like this idea and Follow me for more updates!
Disclaimer: Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
Trade active
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Comment
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Perfect entry hit!
Trade closed manually
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Idea invalidated! Thanks to @Cash-Dash for the hint :-)
I don't think that 7.2 k will be able to hold this fall.
ARESABI
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@DrCheema, me neither, but it's still a price where we have a high chance of a bounce
Tylax-Finances
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Hey buddy! Really enjoying the clear and structured text format of your idea. But I also wanted to share my concerns of this idea with you.
You're entering basically above the previous price bottom line. This could backfire on you since it could also easily bounce up from here, as you can see on the Stoch RSI which seems to curl up.
I would instead recommend waiting for a clear break of the support line at 7.8k by a candle close below.
ARESABI
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@Cash-Dash, thanks for you comment! much appreciated advise.
CryptoBullet
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Thank you for your work.
What do you think of this fractal?
Good work! But I do not recommend you to use bollinger bands to provide any signals, this indicator only provides the information about market volatility. When you try to trade breakouts or anything with this tool, you just base your trade on statistics, how long price is withing the range of BB.
My recent idea about Bitcoin, Please share your thoughts on this
ARESABI
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@Anpu, thanks for your comment. I OBVIOUSLY don't trade with the BBs only.
Anpu
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@cryptobuller, no offence, but i was not talking about that you "only" use BB. I meant you used it in the wrong way (in my opinion), I said why I think so. Anyway you gave interesting setup) Keep Up the good work!