My2Sats

My2Sats

Yesterdays post we had touched $4350 and I was personally looking for some consolidation as the 4 hour chart was over extended so I had scaled out of 80% of my position and potentially looking to reload on the consolidation. We reached $4365 and then consolidated back to $4078 (so about a 6.5% pullback). Perfectly healthy and expected and then BTC broke out over...

My2Sats

Well we never saw a very tight equilibrium I was hoping for on 4 hour but we did break to higher highs on 4 hour. I personally entered at $3770 (originally thinking 3763 would be the high to beat but realistically 3800 became that level). All in all worked out fine as the bulls finally saw continuation. I have now scaled out of 80% of my position and locked up...

My2Sats

Another quick update. Nothing jumping out for me to be bullish or bearish on a trade here so remaining all cash personally. I do see a potential 4 hour equilibrium shaping up as we have our low of the dump yesterday to $3508, a lower high at $3800, a higher low at $3563 and appears to be trying to put in another lower high at $3763 here. I'd like to see things...

My2Sats

And here we go again, bulls back to struggling. This is what I was warning of over the weekend. Just because we saw a short term bottom and nice rally for 1-2 days does not clear the bulls of anything. Shorts are piling back up and BTC is falling back down. Same reason I still took partial profits on my last trade just over $4k and then had a stop loss based off...

My2Sats

Another quick update. Chart this morning I spoke of watching for BTC to trade within the low and our original high off the bounce of $3910 and we did that for majority of the day before breaking out to a higher high later in afternoon. I was looking for bulls ideal situation to have the brief consolidation and then get their higher high to give the confidence for...

My2Sats

This is likely the biggest question. I've thrown a lot more frequent posts up the past few days with the recent dump. Last post I discussed it feeling like we were nearing a bottom as we sat around $3600 and was preparing myself for at least a short term bottom to give a nice bounce and ideally a few days if not weeks or some relief for the bulls. Items I was...

My2Sats

Quick update. We broke all support levels discussed in earlier post and I will continue to remain patient but must admit, I am feeling at least a temporary bottom is approaching here. I'm looking for any signs of bull life and they almost showed it earlier with the initial low of $3650 and a bounce to $4000 but failed to follow through from there and now we are...

My2Sats

Well I remain cash personally after getting stopped out from the last bear break and was beginning to get optimistic on the bulls yesterday but so far just not enough momentum for the bulls to get a short term rally going. $4035 and $4086 remain our key lows to hold before $4k psychological. And bulls were able to get a higher low at $4173 before double topping....

My2Sats

Quick chart update from earlier. Unfortunately for BTC bulls the equlibrium broke bearish. Equilibriums are 50/50 patterns and while I was leaning towards a bear break on this one as bears have dominated the last couple of weeks, I was not worried about taking a poisition and scaling in at the mid to upper $4300's and low $4400's knowing that my stop loss was safe...

My2Sats

Here we go again. A few days ago on my last post I was looking for another leg down from our low at the time of $4863 and we easily got that with an eventual bottom of $4,035. Since then I am watching an equilibrium pattern. Those not familiar it is the start of lower highs and higher lows and the pattern tightens up. To me, its like a spring being wound tightly...

My2Sats

Hello fellow traders. Yesterday I discussed leaning slightly on the bearish side after a reversal candlestick on the 4 hour chart that I mostly follow for trading. A few hours later we saw the follow through with the bears crushing the bulls yet again. Here we go again wiht this being a game of patience. I am happy sitting on my hands and waiting for the bulls to...

My2Sats

Alrighty. Hope all enjoyed the weekend! Jumping off last chart BTC was at $5600 and I was watching to see if we beat $5645 or not. If not, it was just a lower high and that is what we go with $5610 before pulling back down to $5410. From there we saw some pretty tight ranges and then a brief pop earlier today with a push to $5665. This was a slight bullish sign...

My2Sats

Hello crypto traders! Sorry I was just too busy yesterday to get a chart up with all that chaos going on. But lets step back, take a deep breath and look at what we have been discussing for days now. A week ago I had discussed the trend changing and had finally gotten stopped out of my last trade position and locked in profits around $6440. I was then happily...

My2Sats

Good morning crypto traders! Last chart I discussed using $6441 as my personal stop loss based on it being the most recent Higher Low on the 4 hour chart. Once bulls lost the Higher Highs, I was expecting the bulls to then give way to the bears and let them take a Lower Low. This is where my Stop Loss triggers and locks in my profits from the trade and I happily...

My2Sats

Good evening everyone! Jumping off last chart, I was continuing to ride the higher lows and higher highs BTC was setting for my personal trade. Each time a new higher low on 4 hour chart was established, I was comfortable moving my stop loss to just underneath that level just to protect profits. So we were watching as BTC was pushing above the original box I've...

My2Sats

Alrighty, here we go again. Same story, different day. Last chart I was watching the consolidation from our push towards mid $6400's. My personal SL was set just under our recent higher low of $6313. From there I was ideally expecting another higher low before bulls would hopefully re-test $6500 or the top of the box from our prior trading range. Bulls established...

My2Sats

Ok gang, jumping off last chart. I discussed the bulls re-entering the original zone of $6345-6493 we had traded within for 2 weeks but the bulls were struggling to maintain the lower portion of the zone. I was scaling into my positions at that time to watch for bulls to form another higher low compared to $6293 and then ideally give us a higher high which would...

My2Sats

Jumping off last chart, I was watching to see if BTC would get above the EMAs and then see rejection at bottom of original area we had been tradining within. We saw the move above EMAs and quickly rejected right at bottom of our prior trading range (shaded area). BTC then pulled back and found support along the 12 EMA so all was healthy and we then saw...