I have been waiting a long time for this move back into the sell cradle zone on bitcoin. There are a number of other markets right now that have short trades on offer but I will be waiting to see how today closes on bitcoin before I look for short trades. Cryptotrading is about waiting for the right moment to pounce, that may be upon us.
Well the break from yesterday has gone very well and my first target has been met with stop moved. I will leave a runner open now.
With a nice break level present HSRBTC may produce a move. A break up through this resistance will see a new higher high on the 4 hour as well as the daily. This is a trade that has a higher degree of risk but also a high potential reward.
After conducting my top-100 scan today it looks to me a highly probable outcome would be for the market to set a higher low and higher high on the 4 hour time frame which would give a better pull-back on the daily time frame. I believe we will see the market move higher then perhaps see some selling opportunities follow. I have been wrong before and I will be...
With a round number, cradle zone and 61.8% Fibonacci level all around $8,000 can bitcoin pull back on the daily to that level and set up a small bearish candle for a short trade? If it happens I will be likely shorting it again.
Currently bitcoin has a way to go to get back to $8,000 but if it does and sets up a small bearish candle on the 12 or 16 hour time frames there could be a great short available. Patience required
A break down of the red candle in the cradle could be a nice little short here. Need to wait for candle to close but with a fib level backing it up there is a number of reasons to see this fall further.
If we break $8,000 we could easily see a move to the old recent lows. You might not like it but a break of $8,000 means there is not much in the way to stop this down trend picking up speed.
Well that hedge on BCHUSD yesterday sure makes me feel a lot safer now. With trends starting to break to the down side we have a great chance for some good short trades. Having a hedge is a great feeling in today's market.
If we break the lows of the daily candle I see the chance for a decent move on BCHUSD lower. It is a perfect hedge coin for if the market falls in general as it performs better than BTC.
There are plenty of factors from my checklist lining up here for a potential short on BCHUSD. We are in the cradle zone on many time frames and have some Fibonacci lining up as well. I love a hedge on BCHUSD because if BTC falls BCH falls even harder therefore making it the perfect hedge play in my book. Still a while to wait but guys check your strategy check...
I am stalking a long trade on Bitcoin on the 2 and 4 hour. Looking for cradle trades. Scaling out before $10,000 then runner position to hopefully catch the break of 10k if it happens.
The top 10 is now starting to get a bit more of a move on with ETH leading the way. A clean, strong push higher will gain my interest where I will look for cradle trades on a pull back.
The lack of conviction from either buyers or sellers continues on bitcoin for another session. Being that we are still in an up trend my views remain bullish and they will do until a lower low is set. For the time being it's time to sit back on bitcoin and trade the BTC ALT pairings that are trending well
A bearish daily candle in the cradle zone has me waiting to see if we break above or below. If we break the low don't be surprised to see fresh lows in this down trend
With Bitcoin having moved so far from the cradle zone (10 & 20 MA) on the monthly it is nothing unusual to see it pull back as far as it has. I would like to see bitcoin hold here and move higher from where we currently sit but the reality is that $6000 is still very much on the cards. Time to be a watcher not a trader until Feb 6th has passed.
In what is a very strong looking up trend there now needs to be a little bit of buying pressure taken off in the form of a selloff to $4500/4400. I would love to see another small green candle in this zone for another entry to this great up trend.
If we see today break the high of yesterday's green candle that will be a continuation of the up trend. It will be acting as a glory up trend and in perfect harmony. If we break up and set new trend highs in the next day or 2 we will break $5000 before months end.