BTC in troubled times. Are we really going down?
Previous Chart:
Finally closing my short which I have been holding for quite some time in few past charts
My plan for today's trade:
I apologize for the lack of post, I was still holding part of my fund on shorting and since nothing have changed much, I deemed unnecessary to post a new update. Until today that is.
It has been a really good run, but all good things must come to an end, even a bear needs to hibernate.
We have not quite hit the last support on this bearish trend (35k green solid line), and yet with all the fears and fuds, BTC seems ripe to drop further down.
But in my experience, I have learned that the market will not always be that kind and considerate, and highly that obvious.
I decided to close my short 36500 and is now waiting to enter a long. First target is the obvious 39,000 and upon breaking that 40,000. I do believe we are now going to soon enter the true bullish climb and likely to continue holding my long for quite sometime
Good luck to everyone on this hard time.
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!
Finally closing my short which I have been holding for quite some time in few past charts
My plan for today's trade:
I apologize for the lack of post, I was still holding part of my fund on shorting and since nothing have changed much, I deemed unnecessary to post a new update. Until today that is.
It has been a really good run, but all good things must come to an end, even a bear needs to hibernate.
We have not quite hit the last support on this bearish trend (35k green solid line), and yet with all the fears and fuds, BTC seems ripe to drop further down.
But in my experience, I have learned that the market will not always be that kind and considerate, and highly that obvious.
I decided to close my short 36500 and is now waiting to enter a long. First target is the obvious 39,000 and upon breaking that 40,000. I do believe we are now going to soon enter the true bullish climb and likely to continue holding my long for quite sometime
Good luck to everyone on this hard time.
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!
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