Follow on From 3D Major support/Resistance 2 lines.
Slapped Three Lines on the graph and boom new strategy; Traffic light trades. Might get wet so i brought an umbrella.
Enjoy! ;)
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Above: Logarithmic Chart, Monthly Candlesticks. Think of the big picture and in time you will be rewarded greatly. The bottom has been capitulated, The sellers have Gone, and the short sellers are getting wiped out due to the amazing risk to reward factor in a long term perspective; and lets not forget Supply VS Demand. How many Dollars are there Again?
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Looking Good;
Trade closed: target reached
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Target reached; waiting for re entry sub 10k levels
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Grabbed a long in the panic earlier, support is strong;
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More potential buying levels here;
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uptrend support has been broken but Fib support still holding;
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closed position at previous resistance; awaiting re-entry at levels marked;
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Comparison of the Treasury Yield VS BTC price. nothing to see here sir. looking for a short entry on the next good bounce.
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Closed Position at 7420 due to heavy resistance showing on the descending wedge formation and BART showing up. Will be trading the next legs down marked with arrows.
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Nasty Bitcoin
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and just as predicted.
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do you see what i see
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Zoomed in wave count down, possibly play scenario:
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Zoomed in wave count down, possibly play scenario:
Trade closed manually
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Took profit as we hit the Orange line, waiting for re entry
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nailed it
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Bitcoin looking good for some more upward movement here. i anticipate a further test of the lower regions of £5k but anything is possible. Red box in chart is where i see resistance forming and the downtrend resuming;
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Green line anticipated liquidity pool and flat line zone. Basil
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Interesting times ahead bouncing off a support level in this many instances .....
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Heading towards that $4400 Target
Heres an updated chart from bitmex with targets for the next move:
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Too many reefers, take two. 33.33% ;)
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SHORT TO 5K
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(Need to stop posting incorrect charts on my ideas, clumsy paws)
As we can see BTC has dropped below both Buy lines. i will update a chart and link it to this idea for continuation patterns which could play out. Basil
Basil13
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Target Hit within a Whisker, Waiting for a re entry at lower levels and focusing on alt coins for the short term
ThankUKind
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@Basil13, alt coins you like right now? My main holdings where BTC (now tether) ELF, VEN, LSK, ZCL
Good luck out there.