I have now closed my 4,100 shorts at 3,700. I am now long for a move into the 4,400 region, Bearish Bat.
A local bottom appears to be put in place in the 3,700 region for what some might consider a short-time-frame double-bottom. Since the trend is down I am only entering with half of my normal position size with the idea that this is a counter-trend-trade that ...
This is gearing up to be a really big month / week(s) for BTC even after the drop we just had. This will give us a huge trading opportunity as well!
In the chart above it's incredibly important to keep an eye on the levels in the Monthly & Weekly over the course of this week. BTC is looking very weak from today "new weekly bar", and this could open a move to ...
Late 2019 Early 2020 Next Bitcoin Bubble Phase, I'm looking for roughly the same decline as the prior bubble of about 80% which should see us base in the $3,500 region with the next strong bullish trend occurring in late 2019.
The chart is self explanatory and a lot will happen over the course of this time including multiple trading opportunities but this is what ...
What we have here are several indicators for getting long Bitcoin.
On the Daily we have a Tweezer Bottom candlestick pattern forming inside a descending wedge that has bounced off the crucial 200Dma which we have not been under since trading below $300btc. We have also completed a dual leg ABC corrective leg into this 200Dma.
So how to trade this? First you ...
I've shorted Bitcoin at 4,360, 88.6% pullback "bearish bat", looking to unwind near 3,490's "bullish bat".
The setup is invalid on a break above the prior high 4,430 so I'll take off 25% to better my entry price on a move lower from here see first target box in chart.
Looking to then get long for a move into or near 5k but will need to see price action near my ...
Looking to buy on a break above the top trigger or on a test of the lower trigger.
Straight forward trading here, watching the weekly Pivot .
Stops are straight forward if getting in on a test of the lower level and plenty of time to buy on a break if waiting for support confirmation after a top break.
I bought Dash yesterday at $72 looking for a retest at 0.886% 109 region with a 1st Minimum Target of $90.
Dash found support at the Daily, Weekly & Monthly Pivots offering a good risk reward entry.
Stops just below $69.
There is a short squeeze building on Bitfinex that will ultimately send price above 1200.
There are nearly 21k BTCUSD shorts on Bitfinex, ample in size to produce a large push into the 1200's.
Also of note is the difference in cost to hold longs vs shorts with long margin rates very attractive at these levels with shorts not so much.
The most notable level to ...
Bitcoin looks to be in an ABC corrective leg following a 5 wave decline from January's high.
Before this we can see price coming into it's first test at channel resistance + the 61.8% extension level + divergence on the lower time frames.
I am going to short half my normal size position in 3 orders at 1011/1015/1020 which I will not be using a stop loss on but ...
We have a reversal signal on the daily confirming bulls are taking the momentum.
3 Inside Up Bar Reversal
Price closes above the 10 and 21 D MA's
Tested and held support at 885
RSI above 40
We can see on the daily bears failed to capitalize on a bigger move lower when price reversed off of support near 885.
Importantly the 26th closed strongly above ...
BTC failed to maintain it's channel, exited 780 longs from the break of 900 and bounce back to 920's.
Holding shorts from 920/923/925 1/3rd.
1st TP (S1) Daily Pivot Support at 897 / Weekly Pivot 893 should see a bounce there before descending to 840's.
SL just above 946.9 (RR/Ratio 3+)
Chinese Exchanges Begin To Ban Non-Chinese traders deposits and withdraws ...
Holding long until 970 and 980, splitting up position.
Then Shorting 980/985 and 1000 1/3, stop 1036.28 for 1st target of 920 then 840.
If price holds 920 then I'll exit there.
Watch 950 there will be a large interest in shorts and bag holders looking to exit there, 200% extension + 50 fib, prior consolidation.
Using the 50Dma as a simple guide for trend, entry and exit signals.
We could be in the second iteration of an upward slopping trend that takes 2 or 3 months before breaking out to new highs sometime in November or December.