Short where you want, long where you like to. Last down move could be coming. Shorts may work out. However, if you've followed my previous chart which had shown all the possible role reversing level ( Resistance into support ) We've just touched the line and going back up again. I've known some traders bought in at the 1000s Level and you might want to hold even...
BTC is lil weird to trade right with the ETF news. But here's the plan : a short before breaking the bull flag. I wanted to make this shorting 2 hours ago, anyway, now I'll wait for the long entry :) If you venture into the shorting, no need to remind you to watch out for upward breakout, in which case, long all the way ! Good trading lads.
Bitcoin broke the A-wave selloff level, signalling that we aren't done with higher prices quite yet. However, volume is peeling off and we are still trading the RED band, meaning that the sell-side cant be ruled out quite yet.
I think it's realistic to say we'll see price reach 675-700 before heading up again. If you are long already, just hold your positions and be patient.
Maybe just maybe.. red arrows? I think it's realistic to say we'll see price reach 675 - 700. It will most likely create a wedge and consolidate for a while before heading up and making new highs.
Weekly Candles have stopped making big wicks, we are up for a correction ? Jurik's RSI (smooth rsi) also shows overbought levels and after every bull phase, btc has correction so i guess we are going to go sideways and then a dump maybe and then form support and hit 6000 levels.
Bitcoin is heading to 1000$ everybody knows this, thats why this trade is risky. The cloud is my protection; my stop loss Hope you enjoy the upcoming fun.
Hope that this will help decision making. All TAs and FAs welcomed in the comments as always. My previous 5 month old noob EW wave count was aiming for 900 USD region and then changed to 800 USD. CHEERS !
Just something to think about.
Bitcoin 2016 June. Possible crash/down