BTCCNY: Daily view
Updated
BTCCNY has a longer term uptrend, but here I'm looking at the daily linear regression channels we can draw on each swing. If you extend the lines, after a high pivot happens, you can see where price can bounce, to maintain the uptrend progress. The pink arrows show this, and the channel changes with any high pivot that is broken on retest.
I think we have a chance to get action like the green pathway implies, but I'm open to a larger consolidation or even a pullback lower, so I'll react to whatever happens next.
For the time being I know where to place my stop if I get a buy agains the support zone between 4953 and 5102: 4805.26. This is a weekly level though, and we also need to wait for one more week to determine if the uptrend speed is sufficient to keep this pace, else we'll see a correction for some time.
Good luck,
Ivan Labrie.
I think we have a chance to get action like the green pathway implies, but I'm open to a larger consolidation or even a pullback lower, so I'll react to whatever happens next.
For the time being I know where to place my stop if I get a buy agains the support zone between 4953 and 5102: 4805.26. This is a weekly level though, and we also need to wait for one more week to determine if the uptrend speed is sufficient to keep this pace, else we'll see a correction for some time.
Good luck,
Ivan Labrie.
Note
Holding support.Note
Ok, we're taking off...2 days before I estimated but still on track to follow that green pathway.Note
I'd rather reduce exposure now and only hold 15% of the account in BTC.Note
Last: 5220Note
Holding 15% long term is a good idea for sure.
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Weekly has a new support zone to buy againsts3.amazonaws.com/tradingview/snapshots/a/aEr5mFSk.png
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You can see my entries have been spot on for a good while...hope someone's following them.
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