BTC Mission Accomplished -> Pullback Trade
Updated
BTC Pushing the top -> Reaching for the high's prior to the futures trading
I anticipate futures trading launching December 5th 2017 to create a third dimension of the market. It will create a flotation device for armature traders. You will be able to know what the market will do based on another indicator. This will also introduce an institutional outlook to help us make decisions, as well as give people the indication of when to take profits, short or cover their shorts. For traders this is great news. For HODLers it will be a wild roller coaster ride of volatility.
We also have received news such as the US Government trying to crack down on BTC profit taking, as well as large amounts of coins being stolen from exchanges, BTC seems to be brushing it off... Oh well....
Soooo....
Our job is to predict where we will land once this is all over.
When in doubt, look at the moving averages. As per my pervious chart, we took BTC long $10,200 and the target was between 14-15k wherever you feel comfortable either partial your position or close and switch sides. Nice $3,800 Profit
I personally closed my position at 14K and took BTC short at $13,800 for a nice $700 per coin profit. Which I also closed out. I want to be completely sure that my short position is 100% accurate. I also anticipate us to push to 15K over the next few days before futures trading is in.
Moving averages indicate that we should be around 8-9k
Long term moving averages indicate we should be at 5k
If this market continues to push forward and does not do a pull back I quit cryptocurrency.
After the top is in I expect the market to touch the 100 day moving average on a 1 day chart. Until then no more charts....
Much love and luck to all my followers!
I anticipate futures trading launching December 5th 2017 to create a third dimension of the market. It will create a flotation device for armature traders. You will be able to know what the market will do based on another indicator. This will also introduce an institutional outlook to help us make decisions, as well as give people the indication of when to take profits, short or cover their shorts. For traders this is great news. For HODLers it will be a wild roller coaster ride of volatility.
We also have received news such as the US Government trying to crack down on BTC profit taking, as well as large amounts of coins being stolen from exchanges, BTC seems to be brushing it off... Oh well....
Soooo....
Our job is to predict where we will land once this is all over.
When in doubt, look at the moving averages. As per my pervious chart, we took BTC long $10,200 and the target was between 14-15k wherever you feel comfortable either partial your position or close and switch sides. Nice $3,800 Profit
I personally closed my position at 14K and took BTC short at $13,800 for a nice $700 per coin profit. Which I also closed out. I want to be completely sure that my short position is 100% accurate. I also anticipate us to push to 15K over the next few days before futures trading is in.
Moving averages indicate that we should be around 8-9k
Long term moving averages indicate we should be at 5k
If this market continues to push forward and does not do a pull back I quit cryptocurrency.
After the top is in I expect the market to touch the 100 day moving average on a 1 day chart. Until then no more charts....
Much love and luck to all my followers!
Note
I called the chart "fo mo daze" (four more days) til futures trading is up. The little red line is the day when futures trading is active. The flag is indicating the line of where I'd like us to come back to.Note
So far 11:42PM 12/06/17 We have only done 20% from the previous breakout of $10,000
I expect us to do at least 30% based on my previous chart.
Also based on last years chart, Right around the end of December, and begining of January we went into a long term bear trend. I am anticipating that move.
Note
Trading Plan: Short BTC Under $14,800 Target 9K
Partial Target 10500
Note
Short Will Be Activated Upon Confirmation Of Top Being In. Still A Few Days Left.. I expect the top to be in the next day or so.Note
Currently BTC High is 17,100. BTC is doing a parabolic move that is no way sustainable. And the drop will be HUGE! So I anticipate taking BTC short @ 16,500 - No entry yet. Just waiting to see large volume selloffTrade active
BTC SHORT $17,000 -> STOP LOSS $17,200Trade closed: stop reached
Trade Closed At $13,000Note
We will re-short at the sign of correction
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