MACD on 4 hour about to cross up, bullish divergance on the 4 hour. Possibility of last minute sell off to avoid the cross. When cross confirms, the price should behave like this over the weekend. Longing and exiting at 8450, 8750 and 9150 to re-enter lower should be the play. Would consider long term short at 9150.
Comment:
another 4h candle closed, MACD cross still not confirmed due to 100 dollar move down. Next 4h crucial to activate the trade.
Trade active:
with 15 minutes till candle close 4h MACD cross is nearly confirmed. entry 7900 SL 7849.
Comment:
SL moved to 7899, take profit 8450. Good things come to those who wait, you get best entry by waiting for your confirmation signal. In this case, sellers tried to push the price down to avoid MACD (MAs) cross, but run out of time and steam. Whoever entered above 8000 this morning probably got squeezed while price moved in his direction while the patient ones have a position in 7900s maybe even 7800s.
Comment:
BTC at 8250, It was inevitable, but can it be sustained? BTC Dominance very bearish for BTC, just closed a 4 h candle below ichimoku so more gains to be had on alts if one doesn't play BTC on leverage.
Comment:
stil in a position with SL active. Quite disappointed in BTC - an asset that made every one wonder is it going for ATH this year for the last 6 months, suddenly dropped by more than 20% below key moving averaged on high timeframes and can't even put a weak rally at these levels.
Trade closed: stop reached:
weak BTC.