Hey there my Crypto friends I'm running a little late on today's update but the trade is still live and profitable. Here to give you guys another FREE quick update on
BTCUSD
. If you guys have taken any of my last 2 bitcoin trades here on Tradingview or you participate in my group chat then the profit taking that has happen this week should have been SWEET and easy!! An I appreciate every single one of your messages. Thank you! Now lets get straight to the money making good stuff. As of right now if we check the 4H chart we can clearly see that yesterday August 14 at exactly 19:25 there was a huge spike to the upside with a 5 minute range. These type of moves usually occur for two reasons. Either a large short seller taking profit or a large investor making a purchase. Either way the main thing we want to focus our attention over to is the amount the price change which occurs within those 1 to 5 mins. Going back to our basics in technical analysis like has been said before, Corrections tend to be quick and sharp while continuations are slowly built up
BTCUSD
and majority of the times a move like this at such a large change of price shows a glimpse into the operations being ran by financial institutions or larger investors to wipe out any short sellers above with stop loss hunting. The chart still shows signs of some BEAR action going on which is likely to be the institutions still grasping as much of the supply as they can at these lower regions before the explosions in price to the upside occur from too much FOMO at these cheap bargain levels. If momentum continues to the downside we shall see our take profit of $6000 being smashed down like a hammer.
Also some fundamental news to be watching:
Bitcoin ETF announcement was rescheduled from August 16 to September 30th. Very important day to watch the charts. If an approval of a crypto ETF from regulators occurs that day we may possibly see Bitcoin rise to the moon and beyond!!! If it's delayed once again which is extremely likely in September to December 16th, then we may see some surging in prices to the downside. Regardless if ETF is approved or disapproved the technology that this sector has brought to the drawing board is a force to powerful to be reckoned with. REMEMBER EVERYONE BE EXTREMELY CAUTIOUS WITH SHORTING THIS COIN AT THESE LEVEL. THE BUYING SPIKES MAY BE TO STONG FOR SOME INVESTORS TO STOMACH.
LONG TERM HOLDERS OR ATH BUYERS QUICK NOTE:
We will be back up there in no time just stay patient and the risk shall reward!! HODL!!!!
Check the comments to see when I take profit!
BTCUSD
. If you guys have taken any of my last 2 bitcoin trades here on Tradingview or you participate in my group chat then the profit taking that has happen this week should have been SWEET and easy!! An I appreciate every single one of your messages. Thank you! Now lets get straight to the money making good stuff. As of right now if we check the 4H chart we can clearly see that yesterday August 14 at exactly 19:25 there was a huge spike to the upside with a 5 minute range. These type of moves usually occur for two reasons. Either a large short seller taking profit or a large investor making a purchase. Either way the main thing we want to focus our attention over to is the amount the price change which occurs within those 1 to 5 mins. Going back to our basics in technical analysis like has been said before, Corrections tend to be quick and sharp while continuations are slowly built up
BTCUSD
and majority of the times a move like this at such a large change of price shows a glimpse into the operations being ran by financial institutions or larger investors to wipe out any short sellers above with stop loss hunting. The chart still shows signs of some BEAR action going on which is likely to be the institutions still grasping as much of the supply as they can at these lower regions before the explosions in price to the upside occur from too much FOMO at these cheap bargain levels. If momentum continues to the downside we shall see our take profit of $6000 being smashed down like a hammer. Also some fundamental news to be watching:
Bitcoin ETF announcement was rescheduled from August 16 to September 30th. Very important day to watch the charts. If an approval of a crypto ETF from regulators occurs that day we may possibly see Bitcoin rise to the moon and beyond!!! If it's delayed once again which is extremely likely in September to December 16th, then we may see some surging in prices to the downside. Regardless if ETF is approved or disapproved the technology that this sector has brought to the drawing board is a force to powerful to be reckoned with. REMEMBER EVERYONE BE EXTREMELY CAUTIOUS WITH SHORTING THIS COIN AT THESE LEVEL. THE BUYING SPIKES MAY BE TO STONG FOR SOME INVESTORS TO STOMACH.
LONG TERM HOLDERS OR ATH BUYERS QUICK NOTE:
We will be back up there in no time just stay patient and the risk shall reward!! HODL!!!!
Check the comments to see when I take profit!
Trade active:
Still holding the short on this as long as you don’t over position your self and scale into your trades we should be fine. Shorting just be careful for the powerful spikes upwards.
Trade active:
6301
6225
5891
5500
A clear break of $6300 with enough volume and momentum will lead to a continuation down to the $6225 zone where a possible break or a bounce can occur all depending on the volatility of momentum down ward I tend to look at the rate of change in price. If a bounce occurs you should take profits where it will then pullback to the new 61.8% zone retracement level that has been created in which you would set up some more short orders for the run down to possible break of the $5900 zone. Or you can short all the way thru to the $5500 zone with safe position scaling. It will be a choppy swing ride downward before we see our overall long term sentiment of going long on this massive long term cycle which will rise Bitcoin to the moon!!
6225
5891
5500
A clear break of $6300 with enough volume and momentum will lead to a continuation down to the $6225 zone where a possible break or a bounce can occur all depending on the volatility of momentum down ward I tend to look at the rate of change in price. If a bounce occurs you should take profits where it will then pullback to the new 61.8% zone retracement level that has been created in which you would set up some more short orders for the run down to possible break of the $5900 zone. Or you can short all the way thru to the $5500 zone with safe position scaling. It will be a choppy swing ride downward before we see our overall long term sentiment of going long on this massive long term cycle which will rise Bitcoin to the moon!!
Comment:
Still Holding SHORT!!!!!
Comment:
Do not play with a single position incase everyone is wondering if my stop losses have all been hit. NO they have not since divide into multiple orders to create balance offset.