Hello! So to start things off, bitcoin looks bullish and a lot. We pumped hard from 6.9k levels, but as of right now, we have not made a higher high in the macro, also we are in the overbought area in the 4H RSI too. I just wanted to say that, everyone is talking abou the inverse head and shoulders, but the more people know about certain pattern, the less likely...
Bitcoin really is at the deciding point right now, we either break the resistance and (finally) form a higher high or we are going to get rejected and revisit the 6.5k area! Feel free to leave your opinions down below :)
So in 2020 I try to post all my trades for you guys with entries, stop losses, take profits etc. If you don't want to miss out any of my trades, feel free to follow, support the idea.
Average Entry: 6978
Stop Loss: 7107
Take profit #1: 6605
Take profit #2: 6515
Take profit #3: 6450
Take profit #4: 6350
I really do belive that we broke down and will retest the 6.5k area. I kind of missed my entry, I am looking to test the 7020-7080 area and if rejected will enter a short and ride it down to 6.5k! If we break back into the triangle, I will probably play a quick long, but right now i am bearish on this one. Eyes on the charts guys!!
So we are pretty close to breaking the 7.5k level, which is also the neckline of the inverse head shoulders (my other post), if we can get through the 7.5k resistance, then imo 7.7-7.8k will be the next target. From there I will enter a short with tight stoploss. We are overbought on the 1H RSI, so if we get rejected here then a 7.2 is my price target.
We are on our way of completing the right shoulder. Neckline is at 7515, if we break it with volume, I am going to trade it up to 7700-7800usd region. Keep in mind we will have a CME gap in several hours, if we fail to break the 7.5k, we are coming back down to 7265 and will the CME gap with it. Keep your eyes on the chart like a hawk!
So looking at the fundamentals, BAT is one of the best in the whole crypto space. It is quite reasonable to say we are in this triangle formation with an apex in april 2020! With the next altcoin boom, if we can get above the 0.5usd level and will create a higher high, expect the price of BAT to start rising. I would say it is very likely we are going to break the...
Well, we have had a 98% correction from the top to to bottom. This just continuous bloodbath! Before the next altcoin boom, I would not touch this, because this is horrible. If you have a lot of fiat and belive in ADA's future, NOW is the time to start accumulating. Personally I'm not in Cardano.
XRP is going to test 0.15usd again, we are in a falling wedge which is a bullish pattern, but before breaking out we are going to test 0.15usd and maybe even lower. I am have laddered orders below 0.15usd, so I am ready and you should be too! :)
Things are not looking good for Ethereum, we are in a massive downtrend and I think we will test the 100usd level in the beginning of 2020. We have broken all fibonacci levels on the weekly chart so it seems like it could do a 100% retrace to 90usd also. 3Q 2020 I expect a altcoin boom, but we still have a lot to get there!
Bitcoin longs on Bitfinex are at an all time low, but we can clearly see that Bitfinex longs and shorts and heavily manipulated, so I would not bet too much on this. On Bitmex and Binance the longs and shorts are pretty evev. Volatility is low in the market, so bigger move is expected!
So we did get a massive pump from 6.5k and now I am looking for a healthy correction to 0.618 Fib level, it also lines up with a 6.8k support level. If we retrace to 6.8k, I am adding a lot to my long position and riding it hopefully up to 7.6-7.8k levels.