longmoney has decided to take a neutral position on this current BTC move. However, that is not to say that I have no problems with a Short, and certainly no issue taking a Long when the TA tells me so.
So without further ado, I have decided to make this TA public, as lately most of my 8-15% calls have been solely for my personal friends who I have traded Alts with since early 2017. However, I would like to share some critical points regarding the landscape of the supreme BTC, and in my personal opinion, the ultimate deceiver for the uninformed.
Many are calling for a double bottom; however, don't be fooled into thinking that there is somehow some magical support zone there (clearly not seeing the bullish volume or confluence with that statement). In either case, the best case scenario which I see is push through the bottom, create the mass panic, take out the stops, and create the trap (bear or bull, although I propose another bull trap will be most likely considering the next 50 on the way up and the target at approx 3kish). Either way, market symmetry is not looking in anyway bullish for the short to mid-term. Volume is favoring selling, and many new to the space of crypto have no idea of how to make money on the way down. You post a Short call, and all the Trading view noobs want your head on a stake. Hence the reason I don't post my short calls anymore :-) So this post will be neutral.
TA Time:
MACD still favoring selling. And all it takes is one hard sell-off which will easily destroy this double bottom. Experienced and deep pocket investors know this, and without a doubt, they will exploit this HODL'ing mentality to the fullest. They short the market, create the fear, and when all the petty money has gone, and BTC is proclaimed as the most volatile asset in history, or in other words worthless, they will continue these tactics. Current target for short sellers at the X wave has not been realized, but according to EW Analysis we are going much lower.
Areas to watch are of course the double bottom, but my eyes are also on 4500 for a possible B wave trade. If I see clear 3 wave trade--I hate to say- I will be laddering with very tight stops on my algo short target at the 50 (X) wave. Yes. around the 3k.
I hope my opinion helps some with this educational opinion of mine. All in all, bear market has been quite good to me. But without a doubt, this is an extended complex correction. Happy Trading
So without further ado, I have decided to make this TA public, as lately most of my 8-15% calls have been solely for my personal friends who I have traded Alts with since early 2017. However, I would like to share some critical points regarding the landscape of the supreme BTC, and in my personal opinion, the ultimate deceiver for the uninformed.
Many are calling for a double bottom; however, don't be fooled into thinking that there is somehow some magical support zone there (clearly not seeing the bullish volume or confluence with that statement). In either case, the best case scenario which I see is push through the bottom, create the mass panic, take out the stops, and create the trap (bear or bull, although I propose another bull trap will be most likely considering the next 50 on the way up and the target at approx 3kish). Either way, market symmetry is not looking in anyway bullish for the short to mid-term. Volume is favoring selling, and many new to the space of crypto have no idea of how to make money on the way down. You post a Short call, and all the Trading view noobs want your head on a stake. Hence the reason I don't post my short calls anymore :-) So this post will be neutral.
TA Time:
MACD still favoring selling. And all it takes is one hard sell-off which will easily destroy this double bottom. Experienced and deep pocket investors know this, and without a doubt, they will exploit this HODL'ing mentality to the fullest. They short the market, create the fear, and when all the petty money has gone, and BTC is proclaimed as the most volatile asset in history, or in other words worthless, they will continue these tactics. Current target for short sellers at the X wave has not been realized, but according to EW Analysis we are going much lower.
Areas to watch are of course the double bottom, but my eyes are also on 4500 for a possible B wave trade. If I see clear 3 wave trade--I hate to say- I will be laddering with very tight stops on my algo short target at the 50 (X) wave. Yes. around the 3k.
I hope my opinion helps some with this educational opinion of mine. All in all, bear market has been quite good to me. But without a doubt, this is an extended complex correction. Happy Trading
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Waiting for confirmation
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Watch the trap. Otherwise I will Short ;-)
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The Correction is Over? Why didn't anyone tell me...
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I'm like the weather man... Considering a 90% chance of a Short soon.
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Hope everyone has a good week trading... A quick BTC update
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Updates coming soon... And the Shorts begin....
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Two roadmaps... Next post will be a new chart. Follow the money
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Trust your own TA people...
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Follow the symmetry
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Last post on BTC. Not shorting just yet but major confluence. Good look fellow traders.
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Morning update... Yawn....
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Stock RSI ready to turn. Once pivot is confirmed, first algo target will be identified
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Updates in morning. Make your plays
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Best trade is often no trade. That short is gonna be nasty. No targets to soon. Waiting for confirmation of pivots. White line got my eye for now.
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No break of the 65. Follow the symmetry my friends. And if you're a pro day trader, well, must be nice.
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Target acquired. As time progresses more information on our trajectory is provided.
Trade active: