Long for this bounce but need to break above this resistance.
If we don't break out I will be trading shorts from the resistance until we close a candle above it and longing wicks around the support line with stop in place for any close under lower support.
If people don't want to buy $40k bitcoin , they won't buy $30k bitcoin when they know they can get $20k bitcoin .
ALL ABOARD THE DOGECOIN MARS EXPRESS!
Bullish trend lines not broken!
Moving averages OK!
Selloff bought up quickly!
Purple boxes are two levels there is no sell volume, spread buy orders here
Stop just below 0.45
0.33-0.38 this previous resistance has not been retested, if you believe Doge is going to Mars, place buy orders here
Keep an eye on sell volume...
Publishing this idea so I can clean up my chart and refer back to this.
PURPLE BOX - MY CURRENT RANGE OF INTEREST
* If 03/05 daily closes above 58000 and we can't close above 61200 level, I will be shorting as 64899 was the high.
* If we close above that level and continue through 65000, I will be looking to short 68000-70000 but if we get FOMO I will move up...
On this chart I try to help you visualise the following:
Resistance and Support levels using simple boxes or the help of the Volume Profile indicator.
Divergence, Accumulation and FOMO using Volume bars versus price using only chart candles and the Volume bars indicator
Top longing visualised with candles and the Volume Profile indicator
Top longers, where...
On the left we have all candles within triangle border and breakdown imminent
On the right we have attempted breakout from triangle, followed by breakout and retest leaving the upper trendline open for play over the weekend at 62800ish
Target for breakout 66k
Possible we dont see below $54k so spread your entry orders
Height of pennant / triangle is target from breakout, close around $65k
Could be a descending triangle could be a pennant, adjust as necessary as pattern develops
Watching for a double top
Sell volume from 58k on coinbase could be taking profit or closing position from 30k.
I'm wondering if we didn't see the same volume due to leveraged positions
If price breaks 58k I will be watching for push up into sells
Perhaps a push to liquidate early high leverage shorts
Also looking for invalidation of the double top
If you remember my idea with long entry for the run up from 3-4k
You will know what I am talking about.
Always seem to be patiently waiting to get a good entry depending what type of trade I am looking at.
If you keep opening positions on exchanges such as BitMEX and find yourself always...