BitcoinLong
Bitcoin STRONG, altcoins QUIET
BTC continues it's pressure to breakout of this consolidation level on the 60 minute chart.
If we breakout of this wedge over 4650, then there's a vacuum waiting to suck us quickly up to 4800, then 5000.
Don't see any indications that this trend is weakening.
IT is INTERESTING that the altcoins are generally quiet right now. They are all consolidating or sitting tight relative to bitcoin.
MY TAKE:
Money is flowing into bitcoin, which should shoot it to 5000. Money is NOT flowing into altcoins right now.
MY STRATEGY:
Ride the bitcoin momentum up to around the 5000 level, take profits and monitor price action for strength or weakness.
MY PREDICTION:
We hit 5000, see a pullback, mini crash of profit taking, at which point we will look for entries in the altcoins that usually show massive runs and gains when bitcoin is weakening (like bitcoin cash or XRP)
Another good entry on the breakout of this consolidation with a STOP under 4610.
---
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
If we breakout of this wedge over 4650, then there's a vacuum waiting to suck us quickly up to 4800, then 5000.
Don't see any indications that this trend is weakening.
IT is INTERESTING that the altcoins are generally quiet right now. They are all consolidating or sitting tight relative to bitcoin.
MY TAKE:
Money is flowing into bitcoin, which should shoot it to 5000. Money is NOT flowing into altcoins right now.
MY STRATEGY:
Ride the bitcoin momentum up to around the 5000 level, take profits and monitor price action for strength or weakness.
MY PREDICTION:
We hit 5000, see a pullback, mini crash of profit taking, at which point we will look for entries in the altcoins that usually show massive runs and gains when bitcoin is weakening (like bitcoin cash or XRP)
Another good entry on the breakout of this consolidation with a STOP under 4610.
---
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
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.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
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.