ant187

BTC - Consolidation / Descending triangle

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Good afternoon traders,

On my last chart I predicted a breakout, I was accurate, however my target didn't even come close, we pretty much blew up on the launch pad! In my defense, I have been updating them to show that it was a failed breakout, and did accurately predict the breakdown early on as it was becoming evident the rally wasn't going to sustain itself.

In today's chart I'm going to go old school and point to some charts I listed a very long time ago, and ironically, we still find ourselves in the midst of.


I've highlighted the channels and interesting patterns I see on this chart, as well as price action areas you need to observe. Breakdowns, or breakups of these levels, will be significant and could lead to the next price point listed out.

Key notes:

1) Last time our monthly RSI was @ 96, we retraced 76% and 86%, if we average that our we're looking at an 80% retracement. That's unlikely in my opinion.
2) The historical significance of the 200 daily EMA and 200 daily SMA can't be ignored, if you check the previous charts I've made I go into details exactly how many times they've been touched, pierced, and bounced off of.
3)I think a touch of the 200 daily SMA should satisfy the correction, as it would be roughly a 61% retrace from the top, not quite the 80% average of the two previous, but we have different market conditions now.


As always, if you find these idea's useful, please support me by hitting the like and follow button, it keeps me motivated to chart! Additionally, I've been streaming regularly @ 6pm EST on http://www.twitch.tv/cryptocrew discussing these analysis and more and answering your questions live.




Trade active: 7893/8100 buys filled.

If 7750 (200 MA) fails, I'll bounce out for the 5k pickup. At this point, we're dealing with 2 supports that have lasted 3 years. As I mentioned, if these breakdown and we start trading below, myself, and I'm sure many others will be hesitant to re-buy as we may be looking at a total collapse.

Best of luck in these historic times!
Trade closed manually: I've exited with some profit and looking for a further breakdown
Trade active: in @ 8700, looking for test of 9300 zone, possibly up to 10ish if we can break the 50 EMA
Comment: Streaming live @ http://www.twitch.tv/cryptocrew
Trade closed manually: Took a loss, looking for a rebuy in the 7's
Trade active: Trade active btw if you haven't been following the stream
Trade closed manually: 0.75% profit, looking for new buy
Comment: In @ 8400, look closely at this 9300, we’re going back to the 10s if 50 ema holds on hourly
Comment: Morning everyone, we were up late streaming last night!

I felt we had hit the bottom last night, and decided to go in. Props to divarific who felt the same :D

On this chart I've highlighted some zones of interest I'll be looking at which will determine my sell points. Please see the chart attached, additionally I'll be streaming live in a couple of hours @ http://www.twitch.tv/cryptocrew

Comment: Streaming live @ http://www.twitch.tv/cryptocrew
If you find my information helpful, please return the favor and hit the like and follow button, it's very encouraging and keeps me motivated!

Live Streams @ https://www.twitch.tv/cryptocrew
Twitter: https://twitter.com/CryptoCrewNews
Ant, I hope you had a stop loss or managed to get out.
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samsun makistar
@makistar, I kept stop loss last night at 8750. Hope he did too
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I cant thank you enough for the stream, way to stick with it. Learned a ton today, glued to the feed.
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Hi Ant, thanks for the great updates.
Can't view stream. Are you out and waiting for 7k range or are you in on the double bottom at low 8k?
If you are in, what is target?
Thanks Ant. Much appreciated.
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ant187 kitkat16
@kitkat16, I'm currently in and out all the time at the moment, I can't tell you the bottom, I just don't know yet, theres a very good chance we hit it already
+1 Reply
@ant187 hey sorry missed the stream, but you hoping for a cautious double bottom with finger on the trigger finger?
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@ss44, Still streaming, and yea, looking for a bottom, and hopefully we found one
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Maybe 9.2 is do-able? I'm looking to jump back out just below that. Take what you can, and get out with everything intact...
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ant187 streamDr
@streamDr, Yea, I was just talking to rbenz about this being a possible scalp. But if we start getting closes above 9k and the 50 EMA acts as support we'll be going much higher, we're due for a sell off in the next few hours though so I'll probably bounce at some point (if we hit 9300 lets say) then look to re-buy @ 9k if the 50 EMA acts as support
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streamDr ant187
@ant187, makes perfect sense. Scalping is the only way to go right now (unless you're long. Any of these prices are good for me, long. I'm looking to add where I can, that's all, so 'semi-scalping' is the order of the day for me)

(Bailed out while I was about to post this!...sheesh...)
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