Long

Updated

Distribution pump , back to 66-68k

This drop consist of 2 major event that caught some whales offguard ,
1_ Crash in japanese stock after election ( New prime minister wants more rate cut )
2_ Surprising Iran missile attack on Israel

What happens next is obvious in my opinion since whales are in a big loss which cause by events outside of their control ,they will accumulate heaviliy and pump it back up to sell and get out of their losses .
Next target can be as high as 68k but the minimum expected pump is 63k .
Dont get in their way , they will crush short sellers soon .

Also from TA point of view , It's in a very oversold area we have 5 red days in a row, this usually is a reversal sign and many algorithms and traders will start buying heavilly

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Long from 60k and 60.5k , have more buy orders ready at 59 and 59.5

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All of my charts showing atleast a pump to 63k , one should be a hero shorting right now ( the ones that always dies first )

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I also like how most traders are super bearish at 60k while just 5 days ago they were super bullish 15% higher at 66k ..
Crowd mindset is amazing . no wonder why 90 of traders lose money . not saying this will defenitely pump but just saying throwing your self in an over extended and exahusted downtrend is defenetily not a good idea , you should either wait on the side or long with a stop loss and a leverage that you can handle , this is no place to sell/short

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For the ones who like GANN , my multi year GANN lines usually works , they detect exact top at 66k and now we are at a major support at 60k

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Add more to my longs at 60400

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Sold 25% of yesterday longs at 61500 to buyback in case it goes back to 60500

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poor retails with their delay indicators getting rekt again , it wont stop untill 63500 😉

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More manipulation by wallstreet , buying back what I sold at 61500 at 60800 , going up is inevetible, it's just matter of time

Trade closed manually

Since it's friday and there is still some chance that Israel attack Iran on weekend chance of going down is higher than up so I will close all my positions on US session close .
Some times I feel bad trading cause it's just rubbing other people and taking their money because they lack enough experience in Crypto but it is what it is ,everyone here by their choice , Atleast I put what I do for free out there might help some learn a thing or two to trade better( and hopefully not learn the wrong thing to lose money lol )

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Just closed all longs at 62.4 , it might still pump a little more to 63.2 but the risk doesnt worth it anymore

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Not sure why people jump in middle of shorts in middle of weekend when it clearly didnt reach any important resistance!
As I said japanese whales were in loss , now we have a pump mostly on weekend and part of i in japan session .
I usually dont hold positions over weekend so no gain/loss for me .

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It reached target 1 and it is up about 6.5 percent from lows , Seems a good place to enter some short positions at 63.5 , I dont like the way it's pumping , since it's pumping on low volume non US session it makes my idea about whales pumping to get out of ther positions stronger

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closing my short from 63.5 at 63 and waiting for US session to open , it might retest 64k one more time

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Short doesnt make sense as long as we don't see short-term trend line broken and rejection from yellow lines

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There is a triangle also forming in open interest , it can break in either way , still a little more room to reach the upper line

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Today there is a lot of order waiting at 61.3 up to 62.9 ( same as target for trendline) , so right now longs are risky too, this is one of those days that you need to just wait for a more clear move . there are some reasons to go up and some reasons to go down ( usually we see big spikes in both ways in this type of charts )

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I put long order at 62k and 61.5k and short orders at 63.5-64 and 64.5

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First short order filled at 63.5

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Order number 2 filled at 64.5 , crazy liquidation is going on

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Short number 3 also filled , I also put a very large short order at 65 in case it reaches there today , clearly a fakeout to take retail traders money and dump BTC they bought at 60k on them

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As I guess it was just stop loss and liquidity hunt , already two of my shorts at profit , one is at exact top

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now we might go back to 62k , seems like typical BTC pump and dump pattern to me

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Just Closed short from 63500 at 62800 and add another order to short again if it goes back to 63500 , trendline somehow still holding

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I keep the other two short at 64 and 64.5 open for now

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Typical wallstreet pump dump pump dump pattern to confuse all traders to not understand what they are really doing ( which is propably get rid of all their bags before Thursady CPI data)

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As I said both side get wrecked short and longs , closing all my shorts at 62.1 . will wait for US session to open to see what they will cook for us today

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Enter long from here 61.7 , seems like pretty heavy accumulation is going on , probably whales anticipate good CPI for tomorrow

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Also again it seems very oversold , 3 red day with just going down a little usually means accumulation , If it start pumping with this type of heavy accumulation at this price then I guess target will be around 69k

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buying more at 61.1

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Still reacting perfectly on Gann line 60400, bought more at 60800 . IMO we will either have scenario 1 or 2 and will go backup one more time
Both S&P and US equity making new highs and chance of Israel attacking Iran before election is very low, we can start next leg up today after CPI data or on next week candle open at monday

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my stop loss is bellow previous low at 59500 when we clearly make a new lower low

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Still no daily close bellow 69.5 so still holding the longs , I hope that was the last liquidation before going up

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Added more to my longs at 60.5 , It may doesnt look like one but I think we are on the verge of a big breakeout toward 80k probably this month , there is strong buying going on , after touching 59k we had 13 consecutive hours of uptrend , we usually see this before very big moves
Also we had 12 days of downtrend mostly because of middle east news but BTC still holding 60k, this is sign of strength IMO .
I think we will see a pump before election ,considering what Trump said one months ago , probably next big move will be formed around election news

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From another chart , falling wedge is getting broken , next target is breaking the last 12days downtrend channel

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Sttatistically 5 green 4h usually means end of uptrend ( atleast for few hours) just closed all of my longs in profit at 61.6 except one that bought at 61.7 which I will keep more) will buy back in thepull back . easy money just needed some patinet

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close the other one remaining at 61.8 , this BTC chart is acting so crazy lol, jumping around like a chichen with no head
Technically it should reach 62.5 before going down but personally I dont trust those targets made by parallel channels so I'm out

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I think the pattern is clear ,which is W and aiming for new ATH 73k

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tbh this chart make no sense anymore , jumping from super oversold state to super overbought state in less than 1 day . I'm staying away from both short and longs until I see a common sense setup and understand the reason behind these moves , entering position on this chart is simply gambling

ucharx

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ucharx