The first Huge drop occurred today and we bottomed out and bounced off the .61 fib drawn from the previous High.
This has created a lower low and and the potential for a bear market to start.
I have no interest in going Long on bitcoin anymore than riding a bull trap up to ~17-18k. Until we make a new ATH I am preparing for a correction down to 8k area.
Trends are pointing towards a possible correction down.
However, OBV and volume isn't unhealthy and the last time we were looking at a correction it was a fake out - so I am not seeing any high probability/safe trades in either direction.
I have exited my short term long positions and will wait for market to produce a better signal.
Have always used fibs for retracement, never for extensions and predicting target price for a new high. Curious if I am using it right and how it will play out.
feel free to give me some advice or your experience using them.
LTC Has made a cup over the last 3 months which is a very strong bullish pattern.
It was preceded by a smaller cup. If you look at the previous cup, you can see it made a little handle from $60 down to about $50 (after the monster candle wick) for a couple days before making a strong bullish run into new highs. Expecting something similar as this current cup...
8 EMA has finally crossed down the 41 EMA on the 1 hour. I think this thing is finally going to break down like everyone has been waiting for for the past few days.
Historically I can't remember there being much good trading action on thanksgiving. I am hoping it is a bloodbath and we descend into the 6,000 range
Holding this guy for at least a few months. Possibly a year looking for at least a 10 bagger.
Made a nice base for a year. Starting to pick up with some trade volume. My favorite kind of setup. Superstock potential.
Buy @ .06
target 1 ~.50
Target 2 ~1.25
For the past 2 weeks BCH has had a consistent negative correlation with BTC and may provide a safer alternative to shorting BTC in this volatile uptrend. The goal is to open up the holding bag and shift some of my BTC holdings into BCH. Then if bitcoin comes down to $5,000 and BCH heads back up to $2,000 like many are projecting I will sell back the BCH for BTC...
Been Running since big volume breakout/gap up in August. Bouncing off Magic Line of 30 Day Moving average.
I have been holding since October at $1.8
Looking to add to position Once price meets Magic line again, probably around @ $2.9
This has been my favorite Superstock of the year. I didn't find it until September where I entered at $14, but it has been a very consistent performer bouncing off its magic 20 Day moving average line if you check it out on the daily. I believe there is still a lot left in this guy, as it has only been running for about 6 months and stocks like this typically...