Crypto_Core
Long

Filling zoned BTC Long Positions; Exiting Alts on BTC Breakout..

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Keeping it simple.... BITSTAMP:BTCUSD            
I will be filling low leverage long positions over the next few days in this zone in the yellow box above. 9900-10300

Weekly below shows we still have a bit more time before we moon so I will take this position slowly but will be building it quite large...

Stops loss will be set in the price points below and adjusted as the price action occurs. If my stop hits I will be taking a look at another 2 weeks of bear movement down to previously tested levels of 6k, I try to preach to new traders the importance of a stop loss and the fact that day trading requires stop losses even if they hit and then instantly rebounds, when this happens I simply move on and look for the next trade instead of fomoing into a new position with a bad entry.

The daily indicators are concerning but I expect sizable buy volume in the area I have detailed above for my positions. I will monitor volume indicators ( CMF             , OBV, VOL profile, MFI ) at this level and if it appears we will not hold into my entry I will manually exit before my stop hits.

If this position holds I expect this to find our bottom and begin the rally up into a real BULL market confirmation which currently sits at the dotted pink resistance line below and Ichimoku Cloud break (SENKOU SPAN A). At that point all bets are off the table with ALTS and we can expect the news cycle to change their world ending bearish predictions with Bitcoin             that happens every corrective wave. Real FOMO beyond what we saw after the first 10k break will take over and all of us crypto traders sit back enjoying the ride and the worlds realization Bitcoin             is here to stay for 2018. (Until we hit 32k) ;-) Rinse & Repeat then.

I can not wait for the new Bitcoin             parabolic trend to truly form so we can see exactly where 2018 takes us. #NoSleep2018 #Moon
Comment: If we do not get more volume here I am adjusting for more entry here and if that doesn't hold then the daily Tenkan-sen below.

Comment: Closing some of my long here, will add to a larger position on this next drop. Daily still has room to move up but we will see some cool off here.

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Disclaimer: I am not a financial advisor. Please do your own due diligence when it comes to investing. Never put in money that you cannot afford to lose.
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+1 Reply
Crypto_Core TonyCryptano
@TonyCryptano, LOL. :D Much love
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Based on recent price action, a full test of your $9500 support seems likely. Korea seems to want to retest their daily MA as in past corrections which shows about a 7% downside for them. They have about an 11% premium to us. This would line up with your support target.
+1 Reply
Did you modified the TD sequential to add those blue lines ? Those red dot lines on chart #2 are those MAs or part of other script?

cheers
+3 Reply
Awesome analysis, thank you for posting!
+1 Reply
@dartsj, Your welcome
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any thoughts on alts vs btc coming weeks? large cap, quality specifically (ZEC, ETH, ETC)
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renkcub renkcub
@renkcub, nvm. i see your mention on alts. all bets off. i exited many of the more speculative ones last week or so as downtrend confirmed, but stubbornly holding largest positions on zec (q2/q3 upgrades approaching) and qtum (q3/q4 evm approaching) and added to those by exiting some etc/omg holdings (mostly sticking to quality coins listed on Robin Hood app)
+1 Reply