Hello all.
we got stopped out last night at the 13943 which was at a resistance and also a short term fib level for new down trend. I have not been looking at the longer 4 hr downtrend lines and that has been a BIG MISTAKE. I now have an order in at 1214 to buy and that might have to go down closer to the 236 fib line later today depending how BTC does and any pullback there. WHAT I WANT YOU TO LOOK AT IS THE OLD SELLOFF ON THE LEFT AND THE NEW ONE ON THE RIGHT AND THE PARALLEL LOOK OF BOTH> This is a total shot in the dark be I am so bullish on Nano medium term and held through the whole selloff. I traded in and out since the bottom and made back 15-20%, and the chart has been going beautifully, but you have to respect the long lines downward!
This chart the eyeballs are the similar areas. Notice the same bars and the bags under the eyes are near resistance where the W shaped bounces and then failures. We can retrace sown to these levels on the right meaning I might have to move my buy from 1214 to 118ish. History doesn't repeat but it rhymes!
Then notice the NEW UPTREND LINE. The resistance and fib lines are sell points and the trendline will be buy zones. A pullback at the recent highs and then two or so goes at the .5 fib level and then a ton of resistance at .68 rib level. Play the resistance lines and the fib colors and you will be alright.
NOTE: apologies bc my earlier charts i did not see the long trendlines down. Thanks to magic poop and his followers who I saw in comments and noticed this. The cup of the cup is forming but not HOW I thought it would. Thanks to Dollars and Senses for the idea I CAN MOVE TRENDLINE IF CONFIRMED. Wow: mind blower for me!
PUT IN STOPS FOR THE DROPS AND SELLS AT PRIOR RESISTANCE IF YOU TRADE, IF YOU HODL THEN SET YOUR SELL POINT AND SHUT YOUR COMPUTER DOWN, LOG OUT, AND ENJOY LIFE! Don't watch and read all the BS the short term jags will defeat you!
NOTE: all these things COULD happen, might not. Charts are like reading tea leaves they are an art and not science. Be ready to chart your opinion BASED ON THE EVIDENCE!
we got stopped out last night at the 13943 which was at a resistance and also a short term fib level for new down trend. I have not been looking at the longer 4 hr downtrend lines and that has been a BIG MISTAKE. I now have an order in at 1214 to buy and that might have to go down closer to the 236 fib line later today depending how BTC does and any pullback there. WHAT I WANT YOU TO LOOK AT IS THE OLD SELLOFF ON THE LEFT AND THE NEW ONE ON THE RIGHT AND THE PARALLEL LOOK OF BOTH> This is a total shot in the dark be I am so bullish on Nano medium term and held through the whole selloff. I traded in and out since the bottom and made back 15-20%, and the chart has been going beautifully, but you have to respect the long lines downward!
This chart the eyeballs are the similar areas. Notice the same bars and the bags under the eyes are near resistance where the W shaped bounces and then failures. We can retrace sown to these levels on the right meaning I might have to move my buy from 1214 to 118ish. History doesn't repeat but it rhymes!
Then notice the NEW UPTREND LINE. The resistance and fib lines are sell points and the trendline will be buy zones. A pullback at the recent highs and then two or so goes at the .5 fib level and then a ton of resistance at .68 rib level. Play the resistance lines and the fib colors and you will be alright.
NOTE: apologies bc my earlier charts i did not see the long trendlines down. Thanks to magic poop and his followers who I saw in comments and noticed this. The cup of the cup is forming but not HOW I thought it would. Thanks to Dollars and Senses for the idea I CAN MOVE TRENDLINE IF CONFIRMED. Wow: mind blower for me!
PUT IN STOPS FOR THE DROPS AND SELLS AT PRIOR RESISTANCE IF YOU TRADE, IF YOU HODL THEN SET YOUR SELL POINT AND SHUT YOUR COMPUTER DOWN, LOG OUT, AND ENJOY LIFE! Don't watch and read all the BS the short term jags will defeat you!
NOTE: all these things COULD happen, might not. Charts are like reading tea leaves they are an art and not science. Be ready to chart your opinion BASED ON THE EVIDENCE!
Comment:
I forgot to put in the arrows on RSI and volume at bottom of chart. Both of these things need to turn around to confirm!! Low volume is good on cup and handle for now.
Comment:
Misspelled SCARY lol. How do I edit headline?
Comment:
I guess the difference from left or right was on the left we ere in a bear market and on the right a bull market.