LazerTrading
Short

Bear Rising Pennant Confirmation XBT BTC !!!!

KRAKEN:XBTUSD   XBT / USD
We have a fully formed pattern that looks for a continuation. Volume still dismal so no ability for bulls to lift the floor much except out of retractions based on RSI related oscillators, however still with little real or natural volume .


Short entry at 3520-3540 (XBT:USD - Kraken)

Take profit 50%: 3350
25%: 3450
25%: 3250


Stop-loss : 3650


I do a good job on TA and test my analysis against other major signals!! Make sure to keep up with my trades and follow and like if you want me to continue!! We have been profitable on the trades I have published in the past. Be sure to stay in your ETH short!!!
Jan 14
Order cancelled: we reached the SL, but do not become bullish just yet. The bull reaction rally was expected at some point and came first thing Monday morning with a low volume run up in price while bears exhausted. Prepare to take a new short position. I am not going to be like the traders on the hotlist and give you no solid decision. They will give you two options and not decide until too late if at all. This move upwards does not have a lot of juice behind it.


If the price reaches XBT 3900$ short from here especially if it happens quickly


If the price holds and consolidates into a bullish flag at 3700 or above we can then consider a continuation up.


Currently I am waiting for the 4hr chart to show overbought, if it reaches overbought on RSI prior to consolidating above 3700. I will play a short here.

I will post an updated signal once one of these conditions are met!

Comments

Very much appreciated, thank you so much - let's stay on the winning side! :)
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