Final chart for 2018, scalp the top buy the bottom, use stoploss for shorting above and longing below. Enjoy, relax and sit back, this is a time to learn/reflect and invest in personal development. Trading larger timeframes while the trend becomes slow is adviced, look for those major resistance lines to open a trade and have enough confidence by indicator confirmations!
If you like my chart(s), there are plenty more updates besides tradingview, you only have to check my signature for more info (cannot post any links here due to house rules).
Good luck everybody,
-TheTrex
If you like my chart(s), there are plenty more updates besides tradingview, you only have to check my signature for more info (cannot post any links here due to house rules).
Good luck everybody,
-TheTrex
Trade active:
5 September 5300 can we do it?
Comment:
Adding to short on 6800-7150
Trade active:
Potential bear scenario if price falls below 6150 with 5200 as primary target.
Comment:
12H MACD, which has been a great signal so far, is indicating that buying power is slowly flattening out and we will see some selling in upcoming two days.
Ignore the news, some people are really bearish others think its a good thing 9 ETF's got rejected, purely mathematically speaking price wants to retest lower levels, 6000-6150 if not lower.
If price were to go lower we could see a C leg forming from this ABC correction, after this steep A decline.
Ignore the news, some people are really bearish others think its a good thing 9 ETF's got rejected, purely mathematically speaking price wants to retest lower levels, 6000-6150 if not lower.
If price were to go lower we could see a C leg forming from this ABC correction, after this steep A decline.
Trade active:
In the following chart we got the 12H timeframe for BTC. On the weekly chart the MACD has become slightly bullish, still we should look for proper structures and wait for confirmation until they break up or down. We have a projected wedge in this chart towards the downtrend line and a lower bottom carrying trendline, price has been swinging in this for some while now. Important to notice is that the 12H MACD, which has been a quite successful signal is getting closer to turning bearish again, for really strict traders one should wait for a proper cross down because bullish can still be delayed, however it's getting more likely to cross down so one could scale small in already and add more to a short when it finally crosses.
Levels that should be strong resistance: 7700
Great shorting range 50-61.8% up from bottom: 7181.5-7489.5
Around 6900-7100 small short would be okay although best would be to wait for a break in wedge down or cross on macd.
Levels that should be strong resistance: 7700
Great shorting range 50-61.8% up from bottom: 7181.5-7489.5
Around 6900-7100 small short would be okay although best would be to wait for a break in wedge down or cross on macd.