Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me!
- Trading Guru
Trade active
⋅
Aaand... We're trading!
The price has already increased 5% from here. So far we're going in a straight line towards our target. Remember what I explained on the chart: place your take profit slightly under the psychological resistance level of $8000, or else there will be a high chance you won't get hit.
If you want to go for a shorter scalp with lower risk, you can also set your take profit around $7500.
Hi buddy, you are bullish on BTC and bearish at ETH at the same time!!. so what's the cause of Ur contrary analysis?
Trading-Guru
⋅
@bestfarbit74, Check the comment here above! In the conversation with GabrieleStamp. But just for completion here is my note again:
"I want to share one other thing I do to manage risk in these situations. As you might have noticed, I have another idea on ETH right now that is bearish.
Obviously we can't possibly both have a bullish trend on BTC USD and a bearish one on ETH USD at the same time, so I am fully aware I will lose one trade here and hope to win the other. If the risk is properly managed (read: stop loss in place on a strategic level) you can use multiple trade set-ups to try to profit from several different scenarios. It's a similar technique to using butterfly spreads when trading options, you bet on volatility."
Trading-Guru
⋅
@bestfarbit74, but great question, it's difficult to highlight these things on Tradingview as you can only publish everything on an idea-by-idea basis and not on an overall portfolio management level.
bestfarbit74
⋅
@Trading-Guru, I read your conversation before posting my comment, that's why I asked :). but it's too risky cause you have to balance your trading to prevent losses anyway. I myself won't enter any trade unless the trend would be clear
gabrielestampa
⋅
hi, my idea is opposite to yours. I am selling the 5th truncated wave and the exit from the channel of the trend of the last few months. Today a double high is clear at 1D. And in the general climate I believe that the price drops around 6.2-6.6k. In the historical trend line of bitcoin.
@gabrielestampa, Don't you believe that the descending channel already got invalidated after the breakout around mid February? Ever since the bottom half March the price has only been going upwards steadily, I believe the trend is definitely bullish as you show with your ascending channel as well. Why do you think the price will go down all the way to 6.2k?
gabrielestampa
⋅
@Trading-Guru, The truncation of the 5th wave and the exit from the main trend are a strong sign. The various attempts to break through the 7.3k are the same. At 1D you can even notice a double top. In short, I understand that the bulls do not want to give up but I am sure that bitcoin will drop.
If it rises to 8k, possible, many will remain with the match in hand because the whales will liquidate all positions, as usual.
There have been various bull traps these days to witness the lurking trap. Your analysis is correct, but you underestimate the historical moment and the global crisis. There is no security and we enjoy it. Basically the volumes are missing.
I believe that you focus your analysis on the moment without contextualising it in the trend of the last few months and with the current phase of global sentiments. Which is certainly difficult and therefore not very optimistic. In short, I don't see him for a moment at Bulls. Halving then is a passage that always tends to go low, at least at the historical average price of btc which is around 6.6. the super cycle trend leads up to there. But nobody wrongly, nobody rightly until proven otherwise.
tnx!
I appreciate your approach and I always follow your predictions, I am also worried about not being aligned.
Trading-Guru
⋅
@gabrielestampa, I think your analysis about lacking volume is spot on. I pulled my money out of stocks and am quite cautious overall. The world is in a huge crisis and the prices are definitely artificially high. I am not sure who's left trading at the moment, but the day by day increase of all markets (not just crypto/bitcoin but also stocks and commodities, since they are all so strongly correlated at the moment) is definitely scary to me. It feels unsustainable.
Once all companies are going to publish their quarterly reviews, we might see a huge dip again. So you'd better be really careful indeed.
Honestly, I have been surprised about the recent bullish markets, but I trade with what I see. I am careful with my money right now and trade smaller positions, but if the volume and volatility stays low I do expect bitcoin to increase slowly based on TA. Fundamentally if a large news event comes again Corona or Business related we might see a huge spike downwards, but I am not a trader who tries to predict those news events.