Hello guys, it looks like we are about to get confirmation that retracement is finished and that we are now heading upward. This is still not confirmed, but there are few things pointing to this. We didn`t hit .5 fib or .618 fib retracement as I suggested that we should on my previous chart, but lowest price on Bitmex was very close to that .5 fib and we maybe even hit it on some other exchages.
First we broke out of the triangle that we were trading in on 15min chart and it looks like previous resistance where we were rejected last time is now turning into support, but we are still trading around this line, so this is why I think we still don`t have confirmation of uptrend.
Second we have already broke Icimoku cloud on 15min chart and we are trading above it and we are close to brake it on 1hr chart too which we also need to get confirmation of uptrend.
Third we have hidden bulish divergence on 15min chart and this should indicate that we should have a pump soon which will give us those confirmations I mentioned above.
I personally opened a LONG around 8590$ and will give it a little room and put a stop loss around 8500$ and move it to breakeven if we go up.
I am not suggesting anyone to do the same thing I did, I am just sharing with you what am I doing. Use this chart as a guideline, do your own research and decide for yourself and then decide how to trade.
Regards!
Happy trading!
First we broke out of the triangle that we were trading in on 15min chart and it looks like previous resistance where we were rejected last time is now turning into support, but we are still trading around this line, so this is why I think we still don`t have confirmation of uptrend.
Second we have already broke Icimoku cloud on 15min chart and we are trading above it and we are close to brake it on 1hr chart too which we also need to get confirmation of uptrend.
Third we have hidden bulish divergence on 15min chart and this should indicate that we should have a pump soon which will give us those confirmations I mentioned above.
I personally opened a LONG around 8590$ and will give it a little room and put a stop loss around 8500$ and move it to breakeven if we go up.
I am not suggesting anyone to do the same thing I did, I am just sharing with you what am I doing. Use this chart as a guideline, do your own research and decide for yourself and then decide how to trade.
Regards!
Happy trading!
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This is that .5 fib retracement that I was saying we almost hit, we were around 40$ away.
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Stupid me, forgot to say fourth and probably most important reason why we will go up. :D
Tomorrow starts Consensus conference which will last 2 days and will bring us news about projects and blockchain technology. Lot of people are very bullish about this and I think that this event will give us very much needed push in the back and that we will start new uptrend after it. We saw that BTC went up every year in the past after this event. It was usually not so fast, but I think that this year it will be faster because lot more people are now aware of crypto ant they know that CRYPPTO IS THE FUTURE!
Tomorrow starts Consensus conference which will last 2 days and will bring us news about projects and blockchain technology. Lot of people are very bullish about this and I think that this event will give us very much needed push in the back and that we will start new uptrend after it. We saw that BTC went up every year in the past after this event. It was usually not so fast, but I think that this year it will be faster because lot more people are now aware of crypto ant they know that CRYPPTO IS THE FUTURE!
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OK, this didn't go as I expected. The price actually did go up after I posted this, but it dropped this morning and I was not expecting that at all. Anyway I think that this is just temprorary drop and I still think we will go up, I don't believe we will go much deeper from here, maybe 100$.
Like I said I opened LONG, but I made a mistake and didn't put stop loss as I said, actually I forgot to put it. So I am underwater now, but I am not closing because I think we will go up. If you opened LONG whem I posted you could already closed in profit or moved your stop at breakeven, so if you got out you can re-enter lower, I am not saying you should, but you should decide yourself. If you made mistake like I did, decide yourself what will you do...
Like I said I believe we are going up, we are only few hours away from Consnsus conference...
Like I said I opened LONG, but I made a mistake and didn't put stop loss as I said, actually I forgot to put it. So I am underwater now, but I am not closing because I think we will go up. If you opened LONG whem I posted you could already closed in profit or moved your stop at breakeven, so if you got out you can re-enter lower, I am not saying you should, but you should decide yourself. If you made mistake like I did, decide yourself what will you do...
Like I said I believe we are going up, we are only few hours away from Consnsus conference...
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Finally we are where we want to be, like I expected, we had that pump and we should now go more up from here, that drop was probably meant to liquidate high lev long positions.
If you didn`t put stop loss last night like me, now you can put it at least at breakeven or in small profit and move it up as we go. On the other side if you were stopped out and entered lower this morning or you just entered this morning you are already in good profit and can put stop around 8580 to be sure that you are in profit and you are just under 8600 support.
If you didn`t put stop loss last night like me, now you can put it at least at breakeven or in small profit and move it up as we go. On the other side if you were stopped out and entered lower this morning or you just entered this morning you are already in good profit and can put stop around 8580 to be sure that you are in profit and you are just under 8600 support.
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OK guys, I believe more and more that what we are seeing these days is actually just huge manipulation by whales who are just trying to liquidate high leverage positions because these huge pumps and dumps are simply not natural. This is also making big confusion because people will change their mind all the time jumping between LONG and SHORT positions and only loose money, which will only make more money for the whales.
I hope that you listened to me and that you have put STOP LOSSES in place and that you were stopped out. I did and was stopped out at breakeven and now I entered lower and opened LONG again.
I am still convinced that we will go UP, after all whales need higher price too to get even more profit. We also have hidden bulish divergence on 1hr chart.
I hope that you listened to me and that you have put STOP LOSSES in place and that you were stopped out. I did and was stopped out at breakeven and now I entered lower and opened LONG again.
I am still convinced that we will go UP, after all whales need higher price too to get even more profit. We also have hidden bulish divergence on 1hr chart.
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