Very simple, I don't like to complicate things at all.
1. The blue trend line which we broke out of has sucked us back in and now we are back under it. This means our "breakout" turned out to be a "fakeout"
2. Double top formations are very easy to read. One attempt at a high, followed by a dip. Then another attempt that gets stopped at the exact same high and...
I hope you've seen my 4hr chart on BTC and understand why I'm overall bearish on it. Here is a great short set up where we broke out of a positive channel. Now the old support line acts as resistance. We went up to touch it and bounced off of it hard.
Short set up entry is 8400.
Lock in profits at 7000.
Good luck and happy trading!
Don't hate me, don't take it personally, we all want to make money. Read charts, make money. That's my motto. Crypto has been an emotional ride on the way up, and just as emotional on the way down. I've been sitting in a lot of cash and Fiat during most of this down turn, and as much as I want to say the bottom is in, I won't believe until the chart confirms...
Let me preface this first of all by saying there's no guarantee that BTC is out of the woods yet, so be careful of any trade you make. That being said, this is a long term trade, so if you wait patiently you may get a good entry for it!
DGB/BTC had a huge run and has been stuck under this trendline and MA for a while now. Today, we broke above the trendline AND...
Let's get right into it. After the LTC/BTC pair shot up, it's been consolidating in a zone from 170-188. We look like we're currently trying to break out of that zone, but I want to see a clean break of 190 WITH VOLUME to confirm that. Due to the volatility of this market, I would advise taking profits at 210-220. The only thing that would make me move this target...
For those of you like me who have been out of the market besides some scalp trading. We put in a TEMPORARY bottom here. Why temporary? Because a bottom is not a bottom unless it's been confirmed that the market will sustain that support. It's way too early for that. However, given that the stock market today had an insane unexpected positive reversal, BTC decided...
Strong support zone from the previous low around 50. We've bounced back nicely and the market is showing signs of life. It may be a slow run, but if BTC can hold its own weight, we should approach the previous highs. 100% + gains to be made here.
TARGET: 100 +
Stop Loss: 44
BTCUSD is in heavy correction mode, bears are running the show here, as expected. $8500 is a major target, I'm sure you see everyone posting that on their chart, as it is a major intersection of 3 things:
1. 200 day Moving Average
2. Lower trendline of negative channel
3. Horizontal support line from before the big rally.
However, I want to point out that I don't...
15 min chart of BTCUSD shows a rising wedge. Usually these break downwards, which is what I expect. However, all eyes on BTC now, volume low, and 10k major support holding could cause this wedge to break either way. Just watch for a close of a 15 minute candle outside of the trendline and this should give us an idea of where BTC will drift over the next 24 hours...
After ICX pump was completed, news came out, and ICX is back down. However, the long trend line looks be strongly supporting, and 4 hour Stoch RSI looks to be bottoming. I would enter on this trendline and take some profits at the all time high, which puts you at 30% gain. Then train the stop loss after for more gain if it breaks out. Don't miss this trade, it...
VEN/BTC currently is still trending upwards. A lot of support is present in the 50-56 range.
1. Old ATH: 54
2. Strong Trendline Still holds
3. 4hr Ichimoku Cloud - we bounced out of this but now we are still back in.
4. 200day MA is still under the trendline .
Perfect example of not chasing the pump. Patience will give you the entry if you wait for it. VEN...
VENBTC currently is still trending upwards. A lot of support is present in the 50-56 range.
1. Old ATH: 54 (now acting as support)
2. Strong Trendline Still holds
3. 4hr Ichimoku Cloud- we dropped out of it but are entering back in.
Perfect example of not chasing the pump. Patience will give you the entry if you wait for it. VEN is a great project with some...