$BTC #Bitcoin "what happened last night?" - Day Trader Explains
Hello Lads and Ladies,
Welcome back to a TJ TA Session.
Lets take a look at XBT for today's update.
We saw yesterday a nice rejection at the upper bands, breaking the little uptrend that we have had. This rejection went exactly into our expected 3.6k region. Nevertheless, we closed on the trend as if nothing would have happened. This lets me to believe that we will see another leg down towards the same region.
3640 is a nice point and target to reach, yet not a very significant support level.
>We are in a small symmetrical channel with the same angle of descending.
>We are still very near the upper bands and need at least a nice close at 3728 and there have a "close double bottom".
This is all just a chance and possibility, which is why we need to cap our idea with a stop. Here the easiest point would be at 3888, if we significantly break this point, it would break our idea of continuing downwards and we would return into a nice long position.
Moreover, a possible pump after such a "weak retrace" would most likely just provide a nice shorting opportunity. Yet, if we come down naturally and in a healthy manor, we can get ready for the next big and significant move upwards.
With this we are still expecting a small pump or small reaction upwards, yet not breaking the key levels of invalidation for us.
This trade has been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.
Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.
Like and Follow me and you will find the space interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
Cheers TJ
Welcome back to a TJ TA Session.
Lets take a look at XBT for today's update.
We saw yesterday a nice rejection at the upper bands, breaking the little uptrend that we have had. This rejection went exactly into our expected 3.6k region. Nevertheless, we closed on the trend as if nothing would have happened. This lets me to believe that we will see another leg down towards the same region.
3640 is a nice point and target to reach, yet not a very significant support level.
>We are in a small symmetrical channel with the same angle of descending.
>We are still very near the upper bands and need at least a nice close at 3728 and there have a "close double bottom".
This is all just a chance and possibility, which is why we need to cap our idea with a stop. Here the easiest point would be at 3888, if we significantly break this point, it would break our idea of continuing downwards and we would return into a nice long position.
Moreover, a possible pump after such a "weak retrace" would most likely just provide a nice shorting opportunity. Yet, if we come down naturally and in a healthy manor, we can get ready for the next big and significant move upwards.
With this we are still expecting a small pump or small reaction upwards, yet not breaking the key levels of invalidation for us.
This trade has been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.
Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.
Like and Follow me and you will find the space interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
Cheers TJ
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Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
