I just went long at 8002. I'll be honest, I'm a little nervous about this one and I rarely get nervous when trading anymore. However, I will not be hanging around if I see it going down. Unlike the past few days, I felt confident we were going up on the daily chart, as we did for a few days, but now I am wondering if we are going to head down to the bottom of the...
As mentioned in my last post, I was waiting for the price to come down to as low as 8250, and the price came to 8253. I was waiting for a little bit more of a bottoming process and was just about to get long around a little below 8.3k when the price exploded upward. I am, however, still looking to get long but I would like the price to come back around 8.3k. The...
In my last post, I suggested that BTC could have one last push upward maybe to 8750 or so, and it soon shot up about 125 points ever so briefly to 8640 and fell back 100+ points from where it was when I posted. As I suspected, we weren't totally finished going up, but we were very near the immediate-term top, close enough to where point-and-click prop traders...
As you can see from the 15m time-frame, we just completed an EW which suggests that we may see some immediate upside, even if only short-lived given the small time-frame. I am also seeing confluence among time-frames that suggests BTC may have one last push up at least before we see some significant downside, and that push up could be to 8750ish. As you may...
As suggested in one of my previous posts, I said that BTC was a good buy at 8k and got in at 8007. Unforunately, I had to sell (at 8010 I believe) because I do not like to hold positions overnight, especially not in something as volatile as BTC. However, last night I opened a long position at almost the exact bottom and stayed up all night and finally just sold it...
BTC seems to be finding support off the trendline and seems to be ready to go to 8400+ if it can hold 8200 from here. It could go further, but I don't know if you should expect much more than 8400 in terms of estimating your R:R. I would likely play it if it were not already so late here.
So, I went short earlier while the price was in the pattern but was not at my computer to post or update the trade. Notice how the price came back and re-tested the pattern to confirm that former support was now resistance, as I suggested it might in my last post. That was also another chance for you to get short. However, now is a great low-risk,...
As you can see, BTC is in an ascending triangle, and it appears from the fractal on the 1h chart that it will fail to reach the resistance line, indicating we might expect it to fall through support. There are a few ways to play this. The most obvious two are waiting for the price to leave the pattern and going long if it breaks to the upside and down if it breaks...
Having recently formed a third touchpoint at the resistance line of a pennant, bitcoin has been on the move down. In terms of the next level of support, 8k has certainly offered support and resistance, but only a little more than one might expect from one of the thousand whole numbers, so to speak. Therefore, I am not expecting 8k to hold as a form of support for...
