Coinamic

Don´t miss this opportunity in Bitcoin!

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
After weeks talking about the latest pump, the time has finally come, this uptrend is done. Alts market is definitely weak which is a good indicator of the pressure health. Alts had an excellent month during April, the overall sentiment is just about to change, have a look at the Total Market Cap and see how close is the trendline that gave support to the whole bullish era from 2015.


I´m not saying that we are going straight to the hell, in fact I will start talking soon about how and where I see the next rally, but that is going to be later. Unless suddenly a miracle happen, the direction for the coming weeks is already defined. As I see the situation, the price has printed a text book ABCDE which is done with the final wave D, that´s the kind of confirmation pattern that I was waiting for to be confident about it. We are flirting with a mega huge resistance created in 2017, anyone thinking that this is going to 10k without a heavy decline first, is completely out of his mind.


One could stay comparing other rallies and talking about the possibilities of a continuation of the rally, but as a trader you need to be defined an react before things happen, I mean forecasting that there is a few ways it doesn´t help you to make money. Planning your trades and trading your plan it does.

This is just a quick update, I´ll publish a new analysis during this week once we start seeing some action. As always thanks for your support, I really appreciate it. Join us in Telegram to receive daily signals and updates and don´t forget to follow me and like this chart if you agree in my vision of Bitcoin :)
Comment: Guys I´ve been a bit away from trading view and I just focused on trading and my channel. My forecast failed and I called to close the short trade at $6180 and being just in Bitcoin. After 6500 I called a big breakout which already happened so my users and me long a bit on the uptrend. We continue day trading Bitcoin and just today I´ll send a new signal that looks quite good. I´ll publish another chart very soon in just a few days, I´m working on my new website while I analysing, trading and following up my group.
I have to agree with you. This rising wedge / broadening triangle has a bearish bias...BUT there's still a decent possibility of an upside breakout above this resistance line, so I'm getting ready for a possible buy.

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Coinamic GlenGoodman
@GlenGoodman, absolutely there is still a chance of seeing a short squeeze, that´s why my trading strategy is prepared for that, however the odds are in favor of seeing a nice decline very soon. My take is that we should start seeing it within today/tomorrow.
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@Coinamic, yes I agree, the odds favor the downside.
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Interesting!
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Coinamic BossIndicators
@BossIndicators, thanks!
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The biggest thing that’s happened to Bitcoin recently is price closing above the 50-week moving average on the 29th April because it means price is no longer following what happened in July 2015. It’s also a momentous occasion for Bitcoin today because in it’s history it has never been at 100 on the weekly Stoch RSI for more than 49 days (97–100 to be exact) but at close today, on the 6th May it will set a new record of 56 days. I wouldn’t want to be short Bitcoin just yet; it's still trending up and shorts stop losses will be like plankton in a whale’s mouth who can’t swim against the current. However, don't take my word for it, do your own research, follow your own plan, this is crypto and things change quickly!
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@MJC77, hey thanks for your comment, good one. However I don´t base my trading just in EMA´s or Stochastic. If EMA´s and Stochastic were that accurate, we all could be rich. In fact, see what happened in July 2018, the price closed in the weekly above the 50 EMA just like did this week and see how the price refused the supposed uptrend. Anyway yes, each one should make his own research, I´ve done mine and I´m trading my plan ;)
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So subjective mate! Proves nothing!
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Coinamic sdahiya117
@sdahiya117, as I said this is just a kick update. In the analysis that I published on April 30th, all the technicals and fundamentals are further explained.
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You rocks man, keep doing the good job.
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