BTC Prj.2019.P02E05.Squeeze for a BREAKOUT!
My Thoughts:
Based on well know basic principles:
> Know you previous support and resistance lines
> Have your 20, 50, 100, 200 EMAs or MAs ready for the different time periods
> Have you Fib Levels mapped and equate them to Resistance and Support lines, etc
> 11 K range is 0.5 Fib Level and a historical strong resistance range
Assumptions:
> BULL Trend is still in play based on price and level's not going down
> People have stopped selling and waiters are still waiting, which leads to a pattern of some sort
> Another BULL flag is forming as per chart. Current pattern is an assumption until confirmed later
> Some historical references to get possible scenarios for potential opportunities
> Historically in NOV 2017, at this point, the pullback was ~24%
Action Play:
As per my charts, I'm looking for the 11,350 to 11,700 Range to exit
Its possible it will not reach the range mentioned and hence selling target can vary at the time of major indicators > look for HIGH RSI and Divergences
Look for buying at 55 EMA\MA drops\bounces and historically also bouncing of 100 EMA\MA which should equate to key support lines ( on the 1 HRLY and 2 HRLY Chart to buy back in)
NOTE:
**Will be using RSI levels from previous highs and lows to confirm the sell
**Also its possible it can drop right through the 10400 range to the level below.
Cheers,
SS / CryptoProspa
Current state
Main overview:
4 HRLY Chart:
1 HRLY Chart:
30 Min Chart: Big Overview: Possible Ranges!!
Based on well know basic principles:
> Know you previous support and resistance lines
> Have your 20, 50, 100, 200 EMAs or MAs ready for the different time periods
> Have you Fib Levels mapped and equate them to Resistance and Support lines, etc
> 11 K range is 0.5 Fib Level and a historical strong resistance range
Assumptions:
> BULL Trend is still in play based on price and level's not going down
> People have stopped selling and waiters are still waiting, which leads to a pattern of some sort
> Another BULL flag is forming as per chart. Current pattern is an assumption until confirmed later
> Some historical references to get possible scenarios for potential opportunities
> Historically in NOV 2017, at this point, the pullback was ~24%
Action Play:
As per my charts, I'm looking for the 11,350 to 11,700 Range to exit
Its possible it will not reach the range mentioned and hence selling target can vary at the time of major indicators > look for HIGH RSI and Divergences
Look for buying at 55 EMA\MA drops\bounces and historically also bouncing of 100 EMA\MA which should equate to key support lines ( on the 1 HRLY and 2 HRLY Chart to buy back in)
NOTE:
**Will be using RSI levels from previous highs and lows to confirm the sell
**Also its possible it can drop right through the 10400 range to the level below.
Cheers,
SS / CryptoProspa
Current state
Main overview:
4 HRLY Chart:
1 HRLY Chart:
30 Min Chart: Big Overview: Possible Ranges!!
Comment:
Divergence in the play
Comment:
Just a little more to go
Comment:
Progress update (journal)
Comment:
Progress update (journal). Thoughts: over extended + divergence still there.
Comment:
Timed it perfectly ;)
Comment:
Target reached.
Comment:
Where from here? 30 min RSI and MACD says down. Question is now where do we enter?
Comment:
Comment:
Note: this EMA 55 on the HRLY is only to go short.
FYI. Historically, it was the same level in 2017 for the short\bounce area.
Risky however one must look at the buildup before it gets to this point.
FYI. Historically, it was the same level in 2017 for the short\bounce area.
Risky however one must look at the buildup before it gets to this point.
Trade closed: target reached:
What next? Based on the response, bullish, I expect the following otherwise with some sort of consolidation pattern.
Discord: TradeToProspa
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
