What's up guys, I am back!
For those of you who know me and my work, you'll know I never use this timeframe or any timeframe below the 1D. I am not changing my ways today, don't worry. I am just doing this to show the resistance at around $7,000 which is my first target.
About two weeks ago, I made a post pointing out that shorts could potentially get squeezed at these levels. Well, we've added more shorts since then and the price has actually gone up a bit despite that. You can read about that here:
I also said before I left that you should be BUYING bitcoin at the breakout. So far, it is working for us and we are in a nice profit. You can read that post here:
We are still long since entering and our first target is going to be $7,000. That said, I would not be surprised if we go higher than that considering the massive amount of short positions in bitcoin.
Lastly, I want to draw your attention to this post here:
This is the top post by the top daily trader today. It is an excellent post and another reason I am bullish. This is the one post on TV that I wish I made because it is so perfect. Guys, sentiment is an AMAZING indicator. Countertrading the news is a completely legit strategy - ESPECIALLY when it's the clowns over at CNBC (I'm looking at you Brian Kelly).
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
For those of you who know me and my work, you'll know I never use this timeframe or any timeframe below the 1D. I am not changing my ways today, don't worry. I am just doing this to show the resistance at around $7,000 which is my first target.
About two weeks ago, I made a post pointing out that shorts could potentially get squeezed at these levels. Well, we've added more shorts since then and the price has actually gone up a bit despite that. You can read about that here:
I also said before I left that you should be BUYING bitcoin at the breakout. So far, it is working for us and we are in a nice profit. You can read that post here:
We are still long since entering and our first target is going to be $7,000. That said, I would not be surprised if we go higher than that considering the massive amount of short positions in bitcoin.
Lastly, I want to draw your attention to this post here:
This is the top post by the top daily trader today. It is an excellent post and another reason I am bullish. This is the one post on TV that I wish I made because it is so perfect. Guys, sentiment is an AMAZING indicator. Countertrading the news is a completely legit strategy - ESPECIALLY when it's the clowns over at CNBC (I'm looking at you Brian Kelly).
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
Note
You can place your stops at your entry point if you want to have a riskless trade.Note
By the way, I am going to start making more posts utilizing VaR that I showed you all how to use. VaR is something that I have implemented into my strategy and programs and it is very useful. I'm thinking I might do a monthly or weekly VaR for everybody. One of reasons I came to TV was because I knew I was going to be able to bring things to the table that others can't. My knowledge of finance, math, and programming are great tools to me and can be to you all as well! I look forward to helping everyone.
-YoungShkreli
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.
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.