This shows my current perspective of the BTC standings. Although I typically only scalp price action, I thought this was a good time to share my current game plan for trades as well as my short term DAC ideas (see disclaimers)
Rite now we're in the blue range and i've been scalping this price action here (along with some alt coins)
if the blue box breaks to the down side (and price action follows it through the neutral zone into the green) then i would be placing a buy order in that area (based on the price action) and look for a bounce back up to test the $8250
If the green box breaks to the down side and carries through the next neutral zone down to the yellow area, I will be seeing how the orange diagonal is respected and play the price action based off of that.
I'm using these areas to base trades (long & short positions and long and short term trades) as well as to do some buy ins for my DAC methods - although dollar cost averaging into an asset during falling price action is NOT recommended, I'm currently shuffling things around and have been looking for good BTC entry points this summer to increase capital in my options account, and thought I would share my opinions.
*TIP* try and hedge your positions if you are capable (and maybe think abut learning options if you're not!)
(this is not financial advise - just the disillusion ramblings of a crypto maniac)
Thanks for taking the time to read this
- Safe Trades and Happy HODLing -
Rite now we're in the blue range and i've been scalping this price action here (along with some alt coins)
if the blue box breaks to the down side (and price action follows it through the neutral zone into the green) then i would be placing a buy order in that area (based on the price action) and look for a bounce back up to test the $8250
If the green box breaks to the down side and carries through the next neutral zone down to the yellow area, I will be seeing how the orange diagonal is respected and play the price action based off of that.
I'm using these areas to base trades (long & short positions and long and short term trades) as well as to do some buy ins for my DAC methods - although dollar cost averaging into an asset during falling price action is NOT recommended, I'm currently shuffling things around and have been looking for good BTC entry points this summer to increase capital in my options account, and thought I would share my opinions.
*TIP* try and hedge your positions if you are capable (and maybe think abut learning options if you're not!)
(this is not financial advise - just the disillusion ramblings of a crypto maniac)
Thanks for taking the time to read this
- Safe Trades and Happy HODLing -
Comment:
Here's an updated snapshot to the main chart to show conditions
