Great profit ratio today and a counter position should it fail. Have fun!
Today I go over the intricacies of BTC's trend in the past and how that translates to moves today.
We have a confirmed cycle failure, severe left translated cycle and strong bearish momentum. I'm completely out and don't plan to trade BTC. Right now I'm just watching but in this video I explain my position and how I will trade the next 30 days.
I'm still long at $7800 and took some profit so I could lower stop, but the bearish movement is now about 4 weeks old and we are well below the 200 SMA and closing dailies below the 200 EMA, so BTC will have a lot of work to do the remaining 30 days of this cycle to prove its ready to trend bullish. If we end up with a left translated cycle or a failed cycle...
Lots of stuff in here: Accumulation-Distribution Bubbles Gaps Untested areas Volume profile and many other things... Both describing what could lie ahead as well as talking about lots of interesting concepts and phenomena
What's up ladies? I hope you enjoyed this video. I tried to explain why it is the time to bet the farm. I hope it was helpful. Feel free to SMASHH that LIKE button to help me continue my work. Follow me on TradingView as well if you liked this video. Take it easy team. ~BO Founder of Megalodon Algorithms and Automated Trading Bots
Today I go in depth on the proper way to take a long position on bitcoin today.
This is a bearish chart, but let me clarify that I"m still bullish, still long at $7800 and still looking for bull market to re-ignite. But is important as a trader to understand what can go wrong and adapt. What if this rally and cycle fails, what happens if mid December is the yearly cycle low? The simple answer is that we would have some very bearish...
What will be btc next support and resistance & and at what price one should open long, checkout video
Today I give a detailed analysis of three coins by request.
The compression range will point out the direction of trend quite effectively once it breaks.