BTC, confirming short term bottom, target 6.8k+@

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi guys! another crazy day. i went long at 6230, and slept. i woke up and saw price even went down to 6100! i had my buy orders at 5.5~5.6k, guys. well, big bounce! i sold some longs at 64 level, took some profits. from 6100, we saw a good spike to 6500ish, i think we have confirmed a very short term bottom at that level now. i do think we will test upper levels, targeting 6.8k.

so many still say we go to 5.2k, but i don't think so for now, and next week maybe. maybe from october, but not now. you see the blue ichimoku conversion line? at 6350, we managed to close above that level now. that is small sign of bullishness, and we managed to go 6540, daily higher low, which, soared up the bearish engulfing candle two days before. it managed to close at 63.8, which, is above the ichimoku conversion line.

now, usually, people say, we are still bearish , but i think this is a short term bullish signal that we could go long. daily stoch will try to golden cross, more consolidation can come next days, but we managed to make a bull divergence on daily, finally, with 6100 double bottom . weak still, yes, but btc is not risking to fall below monthly 20MA, which is 6100. also, considering the ETF (septermber 30th), bearish red clouds trending down on frames, next week
is real the golden time to make a bounce.

so easy pattern. this time, still so bearish , but testing 20 and 50ma, ichimoku baseline, 2day frame, can happen like last bounces.
it always did, whales know that is at least the bounce we can get. so, testing that level, next week, i believe can happen.

overall bearish , 21/50 ema , deadcross, i believe confirmed, so we take profit at bounce, i think we should short this, at bearish
divergence on daily, 2~3day frame. target, yes, could be 5.4k, or even lower. we must break above 7400/7500 to reverse this
bear market. if that happens, that will be so great, but for now, bearish still mid/long term.

so 2014, 2015 we saw price try to stay above monthly 20ma, but it broke down that level, testing real lows. so sad, but can

obv in falling wedge , maybe we need to touch support more below.

so, trading now, guys need to be cautious, but i do think you can hold longs until next week or so. we can decide to go short

1. open long
6350~6380(small amount)
6260~6300(more amount)
sell:64~65(short term), 66~68(hold for a week)
(i think in coming times btc would try 64.8~65, if that fails it could break down to ichimoku baseline)

2.open short
6480~6540(only for maybe today, or tomorrow)
sell:6350 or below
(this is dangerous yet, but maybe btc will double top , or triple top at 64~6500 level, come down to consolidate, i don't recommend shorts too much now, we need to see more wicks, bearish setups)
we need to open short, wait until btc makes full capacity at up runs.
happy trading!

Comment: so this is still in play guys.
Comment: I am shorting xrp got in 5739 satoshi now. If you are interested add 5800 6400. This is insane.
Comment: guys, if you are shorting btc, or other coins, don't. RIPPLE could be your best choice. i have long experience with RIPPLE, especially when it comes with SWELL event. last year, it pumped to almost 6000 sat, and went down all the way below, like 0.27dollars, or even 0.18dollars. this is almost, proven, Ripple for its events, and the dump that comes after it. right now, if you are late opening longs in Ripple, shorting will be a good choice. you can enter now, sell it in coming days, enter AGAIN before the event, or at the conference day. even if btc goes high, RIPPLE will come down, it will retrace, that is proven last year.
Comment: as far as btc go, the problem it has now is the bear div it keeps printing. we hit 6544 just before, but if we do not make a higher high soon, we risk drop to 6350. after that, if we try again, we do not surpass 6544 with higher high, i assume more drop to early 63 or 62 zone again. so double bottom 6100, is nice, but whenever it comes ip to 64,65 zone with a bull div, it goes down because of seller, because of low conviction from the bulls at this confluence zone. so if you go long, it is better to see if we close over 6450 or 6470, or even 6500 levels.
Comment: Btc looking good!looks like it will close above 64.7. I opened long again at 6375 yesterday.lets see if btc can go up!
Comment: okay! guys what did i tell you? we are going up! we closed even at 65 zone today. all proof is in my writings and charts! so double bottom at 6100, with bull div, that is so powerful! now you see 21EMA, we touched it twice, but we are almost close to breaking that now! we could consolidate more, drop to even 63 zone, but that would bring the moving averages in favor of the bulls!the sentiment is bullish now, short term, i believe we will cross 21ema, and be supported by 66. and try upwards next week. i still hold my longs now, cardano. only little mistake was the xrp short. oh no. stop reached!!! i opened 3rd entry at 6800 sats, 0.45 dollar but it even broke through it! so hold on yo your longs. remember. this is a SWING TRADE, do not sell until next week when we reach 67, or 68. peace!
Comment: https://www.tradingview.com/x/fX0fWM8n/s... term btc. so 4hr 21/50ema supports, even went over 100ema, that is good. so now the name of the game is, will we go over 6550/6600. three scenarios. 1. 65.5~7->64.6~7->66+@ 2. 65.5~65.8->63.5/6300 3. 64.8-->66+@. we have NO BEAR DIV now, sentiment is bullish, you can open long at 6480~90 area, if 65.7~8 is not surpassed sell. so retracement can only come to 64.4 or 64.5 at most maybe. in the past, like in august, we had the same trading range, and it did number1.
Comment: oops! this is the chart!
Trade closed: target reached: btc breakout! sold my longs at 6690, from 6375! hooray!guys, sell some of your long position, at this price. 6600~6700, like 30~40% at least. nice one!
Comment: Oh! my TA came to true!!!! 6800!!!! i sold most of my alts at this zone now. i will observe the market.
Comment: 200MA 8HR RESISTANCE, downtrendline resistance,many resistance. you can put some short order at 6850/6950/7040/stoploss7120. not much, but this is a rising wedge, somewhat format breaks down. maybe to 65 or 64, and come back. i have my first entry at 68zone. cheers.
Comment: guys, btc is forming a rising wedge, somewhat breaks down hard like what happened in 6580 area days ago. if we are going up, a bullrun this neckine resistance would have been already surpassed with high volume. but now, btc is doing this for alt pumping, i think, it will at least fo to 65 or 64 support zone, now that we didn't see any retracement until here. so not so much amount, but you can put orders and hold. even if btc goes up, 7100/7150, we can escape this, i think risk /reward is high for this. i got in first had in 6830 zone.
Comment: xrp making a big bull flag. buy zone can be the blue box. target is more then 0.8dollars.
Comment: ok guys i think btc is bullish now. it it 6500, made a good bottom there. still more to go. i bought cardano, qtum, stellar lumen yesterday at retracement, and took some profits already. if you are investing in alt coins, do not take all profits, just wait for tomorrows closing price, which i think could be bullish. many alt coins just starting to boom up, still in there bottom levels, so we can take some risk here. btc short? wait for that a while, btc do not have bear div yet, it still has more to go before some dropping.
Trade closed: target reached: Shorts opened at 6770 6830 all closed at 65 levels. Guys concentrate in longs now.
great call again!!
@EwcyFinz, did you get in?
EwcyFinz Turningmecard
@Turningmecard, not on BTC but XRP/USD target close @0.455 ride on d sentiment bro...:) kakaka
+1 Reply
@EwcyFinz, that is so nice congrats!
thx T
+1 Reply
@tamola, thanks!
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