Hi All,
It just goes to show you having a sizable BTC component of your wallet is important especially in the panic dump.
We had a bullish divergence coming to a key fib level. So we had the warning for a number of days that a big move was coming... I was leaning more the bullish div. playing out with BTC breaking the 12k, but not so.
If you look at BTC in the lower time frames, there was a bearish divergence starting as it got to 12k and kept dropping. The volume also gave the clue, but I didn''t pay much attention to it.
However I played it safe and moved a large % of my holdings to BTC from the alts as a safety measure....but I wished I did all of them now.
I did not expect this much of a dumb, especially ETH.
We can only learn from this and hopefully prepare for it next time round.
Many of my stops were triggered and its like all the past weeks effort of accumulation is massively reduced because BTC dropped in value.
Gaining more BTC is not good if BTC drops like this.
I'm thinking the 12 K was it for this impulse and the correction that is due /many expect might be from this as a trigger.
I will have to see what SP500 and Gold is doing next.
For the record, BTC had a bearish div also
SP500 didn't drop but has this large bearish div. hanging over it as well.
GOLD is doing ok also with a bearish div. above it
What do you think?
Cheers,
S.Sari
PREVIOUS POST
It just goes to show you having a sizable BTC component of your wallet is important especially in the panic dump.
We had a bullish divergence coming to a key fib level. So we had the warning for a number of days that a big move was coming... I was leaning more the bullish div. playing out with BTC breaking the 12k, but not so.
If you look at BTC in the lower time frames, there was a bearish divergence starting as it got to 12k and kept dropping. The volume also gave the clue, but I didn''t pay much attention to it.
However I played it safe and moved a large % of my holdings to BTC from the alts as a safety measure....but I wished I did all of them now.
I did not expect this much of a dumb, especially ETH.
We can only learn from this and hopefully prepare for it next time round.
Many of my stops were triggered and its like all the past weeks effort of accumulation is massively reduced because BTC dropped in value.
Gaining more BTC is not good if BTC drops like this.
I'm thinking the 12 K was it for this impulse and the correction that is due /many expect might be from this as a trigger.
I will have to see what SP500 and Gold is doing next.
For the record, BTC had a bearish div also
SP500 didn't drop but has this large bearish div. hanging over it as well.
GOLD is doing ok also with a bearish div. above it
What do you think?
Cheers,
S.Sari
PREVIOUS POST
Note
Update:After reviewing the recent drop, its evident that there was a big rejection at 12k. The fact that we first had 12.4k and then the next attempt 12k, opens the door to the weekly 10/20 EMA and or 10500.
WEEKLY CHART with some key levels.
Note
BTC dom still going upTrade closed: target reached
this post is updated by the follower newer post
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.