I'm just doodling here.
Even if OPEC gets a deal with russia, the corona virus gets stable and so on. The economic consequence will still take time to recover from.
Bankrupt business dont automatically go back to 100% engine speed just because money printing is going, OPEC gets their deal, Corona virus goes away.
Like 2008, the bubble continued to deflate long...
Published an idea yesterday where the last consolidation (with slight upward movement) was 10 days.
Tomorrow we are at the 10th day, which also matches monday.
Everything is just crap (financial markets)
Bitcoin have been consolidating with sligt upward movement (its slight compared to the drop) for 9 days.
I will move SL to 6300$ once we touch the trendline...
Before the Corona drop, bitcoin went sidways and up for 10 days before dumping massively again. (Count 11 with the small red candle before the big one)
Now have gone sideways and slightly up (more up because the spike down was bigger).
After just a 20% increase these "LONG" and bullish posts are popping up everywhere.
And looking at H1 + H4, yes I agree. It...
Interesting position. I didnt really think we would go up here yet.
Could be a false breakout. As we still have the bad world economic situation in front of and USA still havent really figured out what to do. Except to never ever stop printing money.
So far price was rejected at resistance levels.
Chart says most of it.
I entered at 119.9$ and did not take profit when it went to 101$ levels.
Think we will see 82$ soon as the market is still crashing down. Im actually more surprised that the 101$ level held up as the stock market, even gold market just plunged yesterday.
So either Crypto (BTC, ETH) is showing strength that it is truly something...
Once ETH broke to the downside of the H1 triangle (stipulated black) I went short @129$
I'm trailing the SL 5$ above the trendline, atm of writing SL is only 133$.
Overall bearish since this virus seems to be just starting. More and more countries are closing down and taking desperate measures to fight this.
On top of that we are at record high debt and I Still...
This is just for personal tracking. My first post.
Bitcoin is moving more and more from a downtrend to a trading-range.
I see 3 flags right now.
Green flag has an exit point of 4200$. This certainly breaks the longterm trendline and can mean a long bearish market. It also breaks major support at 6000$.
Red/purple flag has an exit point of 5580$. But its also...