Bitcoin holding a very important key area here. DCA longed on this from below 68500. Tight and Flat SL at 67650(1%)
If it holds here. Targeting 78k(easy one) and 88k.
Note : Not a Financial Advice.
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BTC holding. Some Alts really look like they're going to crash pump sooner. Keeping an eye on One, Dydx, RLC and XRP currently.
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Nice move from the area. Expecting more upside sooner. Moving Stops to Entry.
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Warming Up. Holds here for a while and this should send higher.
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DCA added longs on dydx and egld. I think sooner these are going to move.
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Stopped out on some Alts Positions. Added more margin into BTC long in here 69750. Still believing it. Let's Go. Stops Flat 68400.
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Was AFK for a while. BTC have dumped back and looks bad. Added more margin here 69444. It's either a full send from here or a breakdown of current level is coming. Tightening the stoploss below the entry at 68500 Flat.
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Important Note: More downside and close like this on Alts is very Bad for HTF. I'll be off loading Spot bags slightly more lower on Alts. Most of Alts now looks Pretty Bearish if they don't recover Quick.
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The thing i am not convinced for more downside is that if you look into different Alts you'll realize that if BTC breaks down things will completely turn over. Let me show you some charts. Look at these three charts at the moment.
BNB a major Alt is planning for higher leg up to 800+. While Avax is almost broke down means slightly more and this will dump harder. While FTM on support level means if break it there will be a serious structure change.
Now if of we stimulate BTC breaking down from here. Means Avax is going to bleed also FTM is going to bleed but what will BNB do? It have to crash to under 500 to make Structure intact which doesn't make any sense at all. Also analyzing more Alts will give same results. Like look into Matic daily it look completely over. Anyway let's see what market decides.
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Bitcoin Update: After today's Movement. Alts looks Bearish AF and from here they are going for breakdown. On BTC i am moving the stoploss to 69000 Flat and will leverage the position slightly Below from here. Holding it with stops of initial Idea might work too but doesn't make any sense to me. So I'll take all the risk on it from here.
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Added to longs at 69700 and tightening the stoploss little more to 69200. Daily close incoming and Alts look really bad at the moment. Alts need to move quick to upside before the close or down scenario is most probably happening. Looking for a levereged long in Rlc and Rune if market moves.
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Out of the trade fully no profit loss doesn't look good at all. Also have no volume because of weekend. Will look at the weekly close then decide.
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That area marked worked good as expected but i am looking for an entry don't know if i will get one or not. Higher sooner.
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Ideal scenario does make a sense. Alts will go slightly more lower from the recent lows. Higher from here still have a chance.
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My limits at 68200 was triggered recently. Stopping below 67500. If correct on idea low is in here.
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That recent dump was expected as i have posted the ideal scenario above. Now if right on idea no more Dumps ahead just full send. Stops at 68000 now.
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Added more to longs at 69400 And tightening the stoploss to 68500. Should hold this area.
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Added more margin here initial entry from 68200 helped me in DCA. Avg entry now 69183. Heavily loaded this gonna hurt little. Stops flat at 68500 because Daily will turn bearish under 69000 and I won't take risk to hold it. Time to sleep.
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Uh Stopped out. What's next?
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Longed 65700 with tight sl 65450. Looks like it can get a squeeze.
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This looks good. Taking risk on it.
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Still holding the price. Longed few Alt coins(which were under S/R flip) in the recent move up nicely currently but moving stops to break even because i was expecting 62k on BTC. But there is possiblity of lowIn situation from here too if BTC Flip 69k and starts to move upside. I will be ready to close it Quick if it turns back(Bear Flag Breakdown Retest situation)
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Possible Bear Flag in H1
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Flat sl at 65700(entry). Added more to longs. Doesn't looks good. I'll wait for 62.3k next.
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Closed Long. Flipped short from here 72500. Invalid on clean break 73k or Daily Close above Trendline 70200.
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Added to shorts 72800. I think we see some retrace first even if it go.up.
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Moving stops to highs. Needs to close the daily above the Trendline or it will get dirty.
did you miss that nasty wick into 71k? price action looks bearish AF here.
ROBO416
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@handyrams8 +1 PA looks bearish. but wick into what? that didn't even tested the previous breakdown area properly, and is not a low in the current upwave. The area currently it is on is a nice SR level. which have worked a few times before too. I do try to take trades with the highest RR possible and i can be wrong.
handyrams8
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@ROBO416 no idea what you mean. you are using acronyms I am not familiar with. but I will spell it out for you. give me a few minutes.
ROBO416
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@handyrams8 I can explain it in a very simple way "why did I take this trade" just pick any ALT you've analysed and send its Daily TF snap here. and definitely i can be wrong too.
handyrams8
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@ROBO416 *I would NOT be trading long against this*