Yesterday I called for a $8,850 re test and today I am liking the double bottom that formed. Support has moved up nicely and the buy volume continues to look good. Now I am expecting the price to test the 200 day SMA right around $9,750 - where the fight would begin. I am still staying away from entering a long until we break the bear trend.
Yesterday I was happily surprised by the rally, then I drew an arrow to $10,000 after we turned resistance into support. Getting shot down before that is bearish. We should get a bounce off of the dragonfly doji at support, but I do not expect it to go far. I am watching for resistance to form below $9,500 and that would provide a good entry for a short. The...
Yesterday I thought we were headed for an $8,400 retest and I had low hopes that support would hold. To my surprise we got a nice bounce and are heading for a $9,400 retest. I expect strong resistance to be waiting based off of the volume we saw last time BTC was at that level (two arrows). Watch for a pullback at $9,400 - $9,500. If that pullback supports over...
Yesterday I predicted that we would range from $9,600 to $10,000 over the weekend. Now it looks like we are headed for a $8,400 retest. Since the price already tested that area as support twice I am not confident we will get another bounce. If price breaks down below $8,300 then $7,850 would be the next area of support. The bearish signs are really starting to add...
I started this specifically for days like today. This is a way to keep myself engage when I have no idea what is going on with the market. I made a commitment to do my best to make a prediction even when I didn't have much to go off. Just keep that in mind! Yesterday I was looking at a diamond bottom forming and went long at $9,800. That was quickly stopped out...
Yesterday I did not like the death cross on the 50/200 day SMA's and how hard we got rejected from the longer term bear trend. I was so frustrated that I said I would not enter another long until we broke that trend. This morning I woke up to a beautiful diamond bottom pattern, which just so happens to be my favorite reversal pattern. After a cup of coffee and...
Yesterday I was looking for BTC to build support off of the blue dotted line and break the bear trend. This morning I was stopped out for the second trade in a row and will be sitting on the sidelines for the time being. The death cross on the 50/200 SMA does not look good. Bitmex going down could have led to an abnormal amount of liquidations. Maybe this is the...
Dear Traders & Followers, There is a possibility to go LONG from current price to the level 106.72,107.95. Note: Everything works with Best money management. Note: Please leave comments for any query. Disclaimer: Trade at your own risk. Good Luck...!! Regards, Growing Forex Team
On 3/2 I drew the last arrow from $11,000 to $11,750. Unfortunately we came up just short with $11,676 being the local top. Within 6 hours the price fell all the way back to the original entry of $11,000. This illustrates why it is so important to actively manage your trades. Buying Bitcoin before it goes up is the easiest part of trading! The trailing stop was...
This morning the trailing stop was set at $11,400. We broke through that and now have multiple doji's above $11,200 support. Enter under $11,400 and new stop loss is set at $11,100. Happy trading and remember that following is free!
Yesterday I was holding onto my long position with a price target of $11,750. On Saturday I mentioned that I was inclined to think that we would range over the weekend and most likely hit my price target on Monday. Everything is still right on track and I expect us to pump to $11,750 somewhere in the next 4-6 hours. If you are not in a position then the long entry...
Yesterday I expected the rally to continue to $11,750 before pulling back. Instead we were met with resistance at $11,500. The good news is that we appear to be turning previous resistance into support at $11,100. The bad news is that the 50 day SMA is forming resistance. I will remain short term bullish as long as the bulls continue to hold strong at $11,100. I...
Yesterday there was a bull flag that formed on the 1 hour chart that pointed to $11,750. Today everything is still moving along as expected. Price target remains right below that resistance cluster. It is difficult to say how long it will take to get there. I'm inclined to think that the price will range on low volume over the weekend and then hit $11,750 on...
Yesterday I called for BTC to break $11,000 resistance. Then I wanted to see it turn that area into support before pumping to $11,750. It has pulled back further than I originally wanted, but it is forming a nice bull flag. When using the flag to measure the move it is also indicating $11,750. Support currently is at $10,750 and slightly under would be the stop...
Short AUDNZD. False channel breakout on 1hr chart. Use the 5min chart wait for price to go down and cross 100MA to trigger trade, else abort. First target : 1.0688 Stop Loss : 1.0740
On the 1hr/30mins/15mins timeframe, I spotted both a reversal rising wedge & a continuing falling wedge which indicates that there is strong support at that specific area which is the 83.7 to 83.9 area. That support area has also been targeted before so that's another strong indication that the market is now using that as a retracement for further support. I have...
Yesterday I expected the price to re test $10,600 and I needed it so support above $10,400 to be bullish. Now that the price has broken below $10,000 I am fully bearish. I expect $10,000 to turn into resistance in the next few hours, which would give us a clear bear flag. The measured move would be to $8,939 and that is also the next horizontal support. I would...