Hello everyone,
I just got to a computer and found that I have been stopped out of my last trade for a profit of 4420/BTC short. Pretty good, but it seemed like I was going to make more. That's okay, I'm not worried about making all the money now. You shouldn't be either. "Trying to get rich fast is a good way to get poor faster."
Anyways, I want to draw your attention to this wedge we seem to be forming. I am interpreting this as a bullish sign for two reasons: 1) we are at the bottom of the channel and so if this wedge is valid we should test the top line. 2) Higher lows with weakened selling and lots of shorts could signal that we could be ready to go even higher than the top of the channel and retest the $7,500 area. This would be very bullish.
If we break above that, I am expecting us to hit the 200ma and there's a very good chance we breach it and have at least a small bull run. We might not make new all time highs, but there should be some exuberance.
Lastly, watch the close of the ashi, if it is green, that's very bullish because the macd is at dy/dx = 0.
Good luck,
-YoungShkreli
I just got to a computer and found that I have been stopped out of my last trade for a profit of 4420/BTC short. Pretty good, but it seemed like I was going to make more. That's okay, I'm not worried about making all the money now. You shouldn't be either. "Trying to get rich fast is a good way to get poor faster."
Anyways, I want to draw your attention to this wedge we seem to be forming. I am interpreting this as a bullish sign for two reasons: 1) we are at the bottom of the channel and so if this wedge is valid we should test the top line. 2) Higher lows with weakened selling and lots of shorts could signal that we could be ready to go even higher than the top of the channel and retest the $7,500 area. This would be very bullish.
If we break above that, I am expecting us to hit the 200ma and there's a very good chance we breach it and have at least a small bull run. We might not make new all time highs, but there should be some exuberance.
Lastly, watch the close of the ashi, if it is green, that's very bullish because the macd is at dy/dx = 0.
Good luck,
-YoungShkreli
Note
I'm long from $6,500
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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.