Contrary to many's expectation, bitcoin's parabola began from 3330 as bottom and not 3121. On that basis, the latest dip to 6300, or 7000s on many exchanges form base 4 of this parabola with the blow-off top which we currently are in, set between 9200-9600.
The ideal play in the coming days should be, to use low leverage longs and ride the blow off.
Before you make fun of me, I know how this looks like. I've looked through my past ideas and it seems like I am a perma-bear. That is not the case. I am very bullish on Bitcoin and have longed previous prices, but just have not shared those ideas publically. I posted all my trades in the previous related ideas section, which includes some bad ones.
I feel like we really need to close above the Daily 21 EMA ($8200) to stay bullish
if not we could be a head and shoulders formation.
I'm currently biased to short and will be opening up a short position on BitMex
Buy @ $8175 - 8250
Stop @ $8270 - 8350
Target @ $7470 Target 2 - 6800
at $8050 move stop top $8100 for a risk-free trade
if we fall...
Just an update with some explanations of my simple analysis. I guess it speaks for itself. We might see a stop hunt whale move in the opposite direction as the general expectation is quite evident. Always be safe adjust your risk management accordingly.
Be safe and DYOR.
Added Target 4: 6800.
Please check this post and write your opinion on this fractal.
I find interesting thing between TRON and Bitcoin, check this out:
1. Accumulation phase
2. Mark up with re-accumulation
3. Hypodermic distribution
4. Mark down
Hard to change the basic idea about move, but this could happen, so please be ready.
Bullish idea was on weekly scale and about Elliot...
I have been on a hiatus from posting charts after taking a pretty big loss back at 4250 levels, but after scalping and longing the bull market, the hurt is gone. My BTC holdings have gone up over 2x despite my failed trade at 4250s, which makes things feel much better.
After consistently being wrong about Bitcoin price movements, (as I had the bear market...
Harmonic bearish crap pattern
Long 5340 sl 5280 if breaking below 5280 I will try to pick again at 5215 sl 5190 If close below 5150 we will see hard dump
If daily close below 5360
I’m thinking it will possible bearish engulfing candlestick pattern where we see potential tomorrow at 5300/5200
Today date 25 April 2019
XBT (Bitmex - Bitcoin) situation for the weekend
Working on our bullish Cypher pattern from the bounce of Friday (point D) and looking for a possible daily close below 5K at the up-sloping support of the new ascending triangle (and if we break below the point D, lowest tap at 4923 that would invalidate the harmonic pattern....