BTCUSD pretty spot on! So what's next? Remember, don't chase!
Hi everyone,
I have been busy so, sorry for lack of public charts here. I have put in the related ideas the follow up of BTCUSD since 08/07/2018 so we understand where I come from here.
As always, easy to put up a chart and say I told you so. Truth is that this big move that we saw yesterday is well a big move.
This is what happens when fundamental is aligned with technical. In videos and all, I kept saying that cycles to the downside were mature and that it was not good time to be become bearish and that profit should be taken for bears below 6k. Market was trying individuals and lask of follow through in the break below 5,920.76 was revealing that buyers HODLING were strong and sellers were dry.
Now, we hear some good news about Goldman and Sachs. Well, good for bitcoin but did it give us a buy signal? No.
Did I buy lower or the break out (I only trade 4h and execute in 1h)? No. Why? Because there was no setup, at least in BTCUSD because BCHUSD, ZRXUSD, XMRUSD are all great in the money with actionable trade setup.
So, now, I will have to be patient to get back into BTCUSD but it might be soon. I keep you updated in the 1h.
Reminder: Don't forget to like, comment or subscribe to the channel. It helps me a lot to continue to post content. Much appreciate it.
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
I have been busy so, sorry for lack of public charts here. I have put in the related ideas the follow up of BTCUSD since 08/07/2018 so we understand where I come from here.
As always, easy to put up a chart and say I told you so. Truth is that this big move that we saw yesterday is well a big move.
This is what happens when fundamental is aligned with technical. In videos and all, I kept saying that cycles to the downside were mature and that it was not good time to be become bearish and that profit should be taken for bears below 6k. Market was trying individuals and lask of follow through in the break below 5,920.76 was revealing that buyers HODLING were strong and sellers were dry.
Now, we hear some good news about Goldman and Sachs. Well, good for bitcoin but did it give us a buy signal? No.
Did I buy lower or the break out (I only trade 4h and execute in 1h)? No. Why? Because there was no setup, at least in BTCUSD because BCHUSD, ZRXUSD, XMRUSD are all great in the money with actionable trade setup.
So, now, I will have to be patient to get back into BTCUSD but it might be soon. I keep you updated in the 1h.
Reminder: Don't forget to like, comment or subscribe to the channel. It helps me a lot to continue to post content. Much appreciate it.
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
marginal new high in 1h and 4h RSi is turning down (don't sell), so I'll be looking for divergence in rsi (new high in price and not in rsi) now to signal 4th wave to confirm a motive from the lows and position longs on the pullback as long as above 6,072.00