BitcoinShort
My BTC buy prices March 2018
Updated
On March 1, BTC finally was north of the major downward channel. There also was a potential inverted head and shoulders setting up, though not the best looking. But this was still a big test to see if BTC was ready to resume higher, or if more time was needed to find consolidation.
On March 5, XRP was (from what I could tell) the first to break above neckline of its potential inverted head and shoulders....and quickly became the first to fail. This gave me pause for the overall market. I decreased my overall positions, and moved into USD and USDT.
On March 7, LTC showed much more weakness. Though technically, BTC had yet to pierce its own trendlines, I saw this as a precursor, and expected BTC to fall back into the downward channel. I decreased my overall positions even more.
Here are the prices in which I am buying back in... 9138 and 8413 were already executed before publication. Next is 7736. Then my older buy levels from early February could come back into play, and those are 6818, 6260, 5884.
Also I have my buy price of ETH at 605, and DASH at 405.
God Bless
JMJ - UIOGD
On March 5, XRP was (from what I could tell) the first to break above neckline of its potential inverted head and shoulders....and quickly became the first to fail. This gave me pause for the overall market. I decreased my overall positions, and moved into USD and USDT.
On March 7, LTC showed much more weakness. Though technically, BTC had yet to pierce its own trendlines, I saw this as a precursor, and expected BTC to fall back into the downward channel. I decreased my overall positions even more.
Here are the prices in which I am buying back in... 9138 and 8413 were already executed before publication. Next is 7736. Then my older buy levels from early February could come back into play, and those are 6818, 6260, 5884.
Also I have my buy price of ETH at 605, and DASH at 405.
God Bless
JMJ - UIOGD
Note
It happens that traders, especially new ones, overlook the simple things. Remember to always look left...sometimes way left. These lines drawn on March 9, were based upon action as far as November 2017... and if you press play, you will see how important they became in May, June, and especially calling the top in July of 2018.
This is not from anything I did special, but it is simply what the chart revealed. Always remember to look left.
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