BitcoinLong
New Long Trade Tommorrow
Updated
For those of you who have followed my suggestions, it has been very rewarding. We have a new scenario which have some quite perplexed, however I believe it's one that you'll find rewarding. We have been struggling to break out the the grey area since the daily close on Friday which produced a bear flag, which freaked a few traders out (including me), however I don't believe it is valid. I later posted and bullish scenario in which a pennant formed on a line chart. I believe the 21 SMA will hold price (if not the 34 is right behind it). The Last Quarter Moon is official Jan 8 at 4:26 CST (I use Central Time because CME CBOE are Central) The Asian market is around 9 hours ahead of us and often a day ahead of the US.
Place a Limit Order at the 21 SMA or bottom of the support line, if you use stops Place at 15,488 according to your own risk level. Take profit at upper trend line or the previous high.
This post is for educational purposes only, not financial advice.
Please "like" my charts if you appreciate my work. Good Trading.
Place a Limit Order at the 21 SMA or bottom of the support line, if you use stops Place at 15,488 according to your own risk level. Take profit at upper trend line or the previous high.
This post is for educational purposes only, not financial advice.
Please "like" my charts if you appreciate my work. Good Trading.
Note
Trade active
Jan 8 4:26 CST is the official Last Quarter Moon and its doing exactly what was expected of it. What was grueling was watching BTC trade below the 100 MA. I did not expect it would go as low. This is a good place to add to your positions if you short term trade. I do not expect new highs any time soon. The Moon effect can last as much as a week or more. The next lunar event is January 16 when we experience a New Moon often times negative on price action. I believe price will rally to the 16,500 area, but will update as we observe.Note
the top chart got moved or changed somehow and so it looks a bit off, so I made a new one. Thanks and good trading.Trade active
Other than the trade taking off exactly as I expected, the best news is our trading channel was never broken and is still intact which is a good sign.
The most Regretted trades are the ones not taken.
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