Hi guys! yes, i'm back again. for the last few weeks, i was too biased to bears. i admit. people told me that,
shorting isn't always winning, and yes, i understood that. so, i will be an balanced TA, for you service, try more
better at seeing things, trading.
so btc, 7000!!! now look weak but, i would not underestimate that, indicators are overbought, it needs time.
i analyzed the daily chart, which is pretty bullish at the moment. NOW is a perfect chance to break upwards, actually! guys, for the last 6 month, we had this thick red cloud above us, which is bearish. but now, we have
a green cloud, which, if we penetrate through we can have good support.
it is now good chance to break through 74/75 level, which is the descending triangle top, and challenge 7900
daily 200ma, which, most of the times rejected BTC. if above that, i believe 10k will happen. but, now, a long way to go.
we are seeing some good indicators here. directional movement, becoming bullish, macd golden cross, volume
low, but usually it bounces back, rsi surpassing 50 levels, it can try upwards. we need to break 7170, if so,
we can soar to 7400 levels.
one thing we need to know is how the whales play this out. charts? yes, needed, but whales are important here. you see, every time when monthly candle is red bearish, at the end of the month price gives a lift up,
AFTER Retracement. on the contrary, if we have a green candle monthly, the last day usually it drops.
so july candle, is bearish, a hammer like candle but we had downturn, so august 31th can be a day we can
have a lift off. this is just pattern, i believe it a little bit not too much, but it has happened. and next day,
in this case sep 1st, we will have retracement after the monthly candle closes.
so based on this, we can ride this at august 30th, at some retracement, with tight stoploss. whales really
mange monthly candle closes, this time they might want it right at the triangle top, downtrend trendline, at 7400/7500, it is also a good price to short too, in logical sense. whales last time had a chance to close over 8k,
but remember july 30th? yes, they pushed it down to the downtrend line.
guys, this is all speculation! you see, this is all just patterns that, whales might want to make, controlling
the price down, however, whales, what is funny is that they do not close monthly level in a so disrupted way! please do not believe this 100%, make your own logic and invest! however, i am willing to do this bet.
so now we are seeing btc going sideways at 7k. i assume 6980/7020 will be tested as support, tries 7170,
gives retracement to 68 level, and lift off. it might slide down, who knows. if so, all this speculation is
invalid, another strategy is needed.
so now in boring triangle, pattern i might assume a move like this next 2 days.
simple scalping trading plans by time frams are
1. open long
6980~7030
sell:7100
(if falls just add till 6800/stop 6730)
2.open short
7100~7170
sell:6850/6900
stoploss:7200
3.open long
68/69
sell:7.1/7.2+@
stoploss:6680
shorting isn't always winning, and yes, i understood that. so, i will be an balanced TA, for you service, try more
better at seeing things, trading.
so btc, 7000!!! now look weak but, i would not underestimate that, indicators are overbought, it needs time.
i analyzed the daily chart, which is pretty bullish at the moment. NOW is a perfect chance to break upwards, actually! guys, for the last 6 month, we had this thick red cloud above us, which is bearish. but now, we have
a green cloud, which, if we penetrate through we can have good support.
it is now good chance to break through 74/75 level, which is the descending triangle top, and challenge 7900
daily 200ma, which, most of the times rejected BTC. if above that, i believe 10k will happen. but, now, a long way to go.
we are seeing some good indicators here. directional movement, becoming bullish, macd golden cross, volume
low, but usually it bounces back, rsi surpassing 50 levels, it can try upwards. we need to break 7170, if so,
we can soar to 7400 levels.
one thing we need to know is how the whales play this out. charts? yes, needed, but whales are important here. you see, every time when monthly candle is red bearish, at the end of the month price gives a lift up,
AFTER Retracement. on the contrary, if we have a green candle monthly, the last day usually it drops.
so july candle, is bearish, a hammer like candle but we had downturn, so august 31th can be a day we can
have a lift off. this is just pattern, i believe it a little bit not too much, but it has happened. and next day,
in this case sep 1st, we will have retracement after the monthly candle closes.
so based on this, we can ride this at august 30th, at some retracement, with tight stoploss. whales really
mange monthly candle closes, this time they might want it right at the triangle top, downtrend trendline, at 7400/7500, it is also a good price to short too, in logical sense. whales last time had a chance to close over 8k,
but remember july 30th? yes, they pushed it down to the downtrend line.
guys, this is all speculation! you see, this is all just patterns that, whales might want to make, controlling
the price down, however, whales, what is funny is that they do not close monthly level in a so disrupted way! please do not believe this 100%, make your own logic and invest! however, i am willing to do this bet.
so now we are seeing btc going sideways at 7k. i assume 6980/7020 will be tested as support, tries 7170,
gives retracement to 68 level, and lift off. it might slide down, who knows. if so, all this speculation is
invalid, another strategy is needed.
so now in boring triangle, pattern i might assume a move like this next 2 days.
simple scalping trading plans by time frams are
1. open long
6980~7030
sell:7100
(if falls just add till 6800/stop 6730)
2.open short
7100~7170
sell:6850/6900
stoploss:7200
3.open long
68/69
sell:7.1/7.2+@
stoploss:6680
Trade active:
OK. I SOLD MY LONGS AT 7100. OPENED SHORT AT 7100. WILL BUY 7120, STOPLOSS IS 7150 SHARP. TARGET 7000/6950.
Trade closed: target reached:
sold shorts at 7010. i will go long now till 69/68, buying some at early 7000 too.
Comment:
i got in long 6900/6888, longs, scalped them at 6980!. wow, just like in 5 seconds! let's see if they can hold this level. see below 7k, is not easy for the bulls. they get resisted by moving averages, once they come in this bearish zone.
Comment:
ok guys. buying zone is coming. try to buy at 69 levels, if it dips below 6850, i don't think it would validate an upwards move. i will buy as lowest on at 69 zone. it we target this move, i would target 7.2/7.3/7.4. stoploss is 6850 tight.
Trade active:
one other thing. if 6850 breaks, we cutloss longs, we open shorts RIGHT AWAY. so we can compensate our loss in going longs. good trading!
Comment:
i got in 6930, let's see what happens. with tight stoploss, do not afraid to buy longs. stoploss is 6850, only a 50 dollar loss, when you can bet on 100~300dollar profit uplevels. even if 6850 breaks, we open short, which can target 6550/6600.
Comment:
1hr, candle patterns good, double bottom with second one higher, it needs to hold though. NO bull div, but whales usually do not care about that. stoploss once again is 6850, this is a risky bet, if 6850 breaks we see hell, we enter short. also, if this takes off, it will take 12 hours from now maybe. so be patient. if breaks down, we just cut loss. No safe trade in BTC, everything is risk/reward bet based on logics and proof.
Comment:
ok, it hit 6881, stoploss was 6850. set stoploss to around 6867 guys. 6875 is former bottom, normally if it touches former bottom it is not good, we must stop loss before it breaks down through former bottom level. very risky at the moment, you need to have a stoploss mandatory. indicators are oversold, but they still have room to push down, so let's see.
Comment:
OK. OUR STOP WAS TRIGGERED, HOWEVER I DIDN'T SELL. INDICATORS ARE OVERSOLD CONDITIONS, KEEPING 6850 AS SUPPORT YET. I WILL SEE LITTLE MORE.
Comment:
It bounced from 6850 but it fell through 6870 former bottom. I got out of the market for now need to wait for clear direction.
Comment:
68 NECKLINE, IS ABOUT TO BE BROKEN. IF DOES, IT WILL GO TO 6750 BOUNCE TO 68.5 BUT MAY GO DOWN AGAIN. Bulls need to defend here.
Comment:
also, if 67 breaks, most likely would head to 65/64.8 zone. i'm in short from 69 zone now.
Comment:
ok. i opend shorts at 6900 sold at 6817, i wend short again 6882 now. so 68 is a support, but, i get the feeling that 71.2 was maybe the top of this rally, if so, so sad. so maybe btc would make a lower high around 7000 or 707 in next few days0 and just die, a possibility. daily stoch rsi banding down, it might make a bull div on lower time frames and go up, but, now, 7.4k is like a dream number. it could come, might not. so, if we break down from 7.1k, again, 5k or 5.7k those low numbers might be on the cards. i really wanted to be a bull at this turn, but at the time being, yes, being a bear is still safe.
Comment:
However there is possibility that a big squeexe can happen from 68 levels or little below. This downward move along with august 31th has a meaning which migh make a lower high or a higher high.so guys be cautious market is volatile. I will try long a little if early 68 or 67 level comes.
Comment:
Guys maybe an upward move can happen in next 10hours.maybe this can be the august 31th move. I am in long now will add little more when 6650 comes. Now in oversold conditions maybe a bart pattern move can come which 7.2k or more can be in the cards.
Comment:
yes, i think this will go up anyways, today, tomorow. analyzing btc pattern in the past, this run, it ain't done yet. although there are many target prices that can come. 7050/7100/7240/74 or 75. i plan to buy the dip and hold. have entered in 68levels for first entry.
Comment:
Wow.btc going up!not safe zone,but i will hold on to my longs for now lets see.
Comment:
too many comments here,
check new post here. i will update here.
big picture, long time frames, 3 scenarios. scenario 1,2 anything that breaks down will go 6k or below.