Long

Updated

Warning: Bitcoin is coiling in the RSI and may have a breakout!

DON'T GET FOOLED BY TALKS OF A HEAD AND SHOULDERS! It CAN happen but wouldn't that be a little ... too easy?

Just something I noticed, the RSI on the 30m has been coiling, there have been attempts to break out of this resistance which resulted in powerful short-term rallies.
If Bitcoin can break above the resistance in the RSI, we may see a seriously powerful relief rally.
Bitcoin has respected a 6H RSI channel that I've been watching, and you can see that below.

Over a time period of roughly 16 hours now, Bitcoin has phenominally held above key support, the $7.2k range.
Take a look at these bear trap wicks:

Notice the 1h RSI respecting this resistance trend line in the RSI:

I am long from $7k. I am aiming for a $7,600 re-test but possibly higher depending on the force of this breakout if it materializes.
Watch for the 30 minute RSI to break out of the red resistance line, then re-test for support.
If the trendline holds support, long it HARD but keep to your risk management.

Fair warning, this trendline creates powerful resistance, if it fails yet again on this attempt I could see the HS activating.
If there's a fakeout, look to $7k and $7,200 for support. Past that, we're going to no-mans land.
GL

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Fair warning, Bitcoin may drop to the bottom of the 6h RSI channel- which is where I'll be looking to add substantially to my position.
I have a feeling I'm not the only one hoping for this. Best of luck

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Good lawd.

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Bitmex so far is showing a breakout, and now there should be a re-test for support.
Considering what the price action shows, this could end up sending Bitcoin violently down to the bottom of the 6h channel. Beware.

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Do or die time.

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Anddddd that's the bear trap. LUL

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Can she?

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Welp.
It ain't easy bein cheesy.
Just took double my original investment out and now it's time to let 'er ride.
Enjoy the show. :D

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Beware of the white zones. If this is just a correctional ABC impulse upwards, this rally could end very violently, very quickly. Make sure you have stops well above your entry because if we get denied this is gonna come down HARD.

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VERY key moment here for BTC

The .786 of 'the dump' from recently sits at $7,955.
If there is ANYWHERE that is going to confirm a reversal on this very powerful rally, it's here.
HAVE STOPS

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$7,967.*
I took profit from that. A LOT of profit.
Let's see what happens from here, it doesn't look like Bitcoin is done yet.

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$7,854 is short-term support. It is the 1.618 of this current move, which indicates it could of been the end of a 3rd wave.
From here, I would say that if $7,854 fails as support, the next zones of support would be the .236 and .382 retracements for this wave which lie around $7,800 and $7,686. A break below that and be ready for a sizeable dump.
If we have a push above the .786 bear retracement at $7,967 then look to $8,169 and $8,444 as final targets.
See you next update, cause I have a feeling I may be on for a while. lol

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This *might* be a *very* sizeable breakout.
Take a look at the 15m RSI. I wasn't zoomed out all the way when I made all the arrows. Notice anything? I stopped putting more arrows, because ... not one time.
Not once in this entire screen, since the 25th of last month has the 15m RSI been bullishly rejected from falling below overbought.

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We are also finding support firmly on the middle of my 6h channel after bouncing off the bottom of it as seen here:

This could be a very big breakout if momentum holds. $7,967 is key.

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I will be updating this later, but look out above. $10k here we [likely] come.
I believe we experienced an ABC corrective retracement "C" wave upward, which took us to $5k.
If that holds true, that means an impulse started on the heels of that pump.
The second wave for that impulse would be the dump we experienced on Bistamp. Exactly why it happened so fast.
If that is indeed true it means we are potentially starting a third wave impulse upwards, which should take us to roughly $10k. Alt season would commence when we come down from that 3rd wave, until Bitcoin is ready to make it's way to the 5th and final wave, or $14k.
This is true bull hopium at its best, but we could, in theory, see a BTC within the next few months.
Sorry about the different chart styles, I have multiple charts for various purposes.

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IF this doesn't turn out to just simply be a "B" wave correction from a larger impulse, then what was stated above is very possible. It all depends on if we hold $7,967, if we can break above our swing high of $8,400, and if this isn't a trap.

If the larger corrective ABC series completed in Bitcoin on April 2nd, we will see at minimum $10k. will be the ultimate pain to make people FOMO right as Bitcoin finalizes it's last lower high before capitulating.

May the force be with us.

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If we're lucky. Really lucky.

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Daily is fighting for overbought.
We're consolidating against the .786 bear retracement.
We just had a 10% dildo in about 4-6 hours.
If this thing ends up moving upwards again, there is going to be some serious FOMO.
Be really careful people, this is extreme resistance.

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Be careful around $8,300. Watch very carefully to how price reacts to this region if we get that high.
If indeed what we are seeing is a bullish ABC retracement from the stamp dump, $8,300 is where it stops, maximum in my eyes. That would cause a lower high and be a signal to bears. If $8,300 is the height of this rally, the rejection will be VIOLENT so make sure you have stops.

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Pt. 2?

PS- based on the height of the flagpole, if we aren't in just a corrective impulse upwards, then this technically has a target of around $8,600.

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4th attempt at resistance- does it break?

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HI MOM

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That moment when the parabola is still intact..
This will have some serious consequences. Beware.

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Finally, a sizeable rejection.

We have completed an ABC retracement from the stamp dump with that recent high, though it
Technically, this means a new upward or downward impulse is ready.

Support can be found between $7,868 and $7,965 although I would prefer $7,965 to hold as it is the .786 bear retracement from the entire stamp dump.

On Bitmex, the 15m RSI is fighting at the moment to stay above a key support trendline.

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Man what a candle.

Trade closed: stop reached

Can't avoid ALL the stop hunts, sigh.
Oh well. Made a FAT chunk of profit from this move.
Hope someone else did too ;D

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"If we have a push above the .786 bear retracement at $7,967 then look to $8,169 and $8,444 as final targets."

As my Grandpa use to say; "Not bad for a hairlip!"
Proud of this one.

Hope everyone has a great day, it's time for me to NAP.
-teh Salesman

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Open this chart, then hit play.
Pull down on the chart so you can see price movement.
There's a red resistance line at $7,785 that may be flipping to support.
This is kind of a big deal.

If $7,785 holds as support, the only next real logical resistance becomes $8,420/$8,700/$8,900/$9.2k.
If we can surpass that we're looking at $10k/ and possibly even as high as $14k.
Best of luck, I gotta wait for a better entry now :(

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Inb4 a dump to $5.6k/$6k to shake out new longs lmao.. Majorly entertaining this idea right here..

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Andddddd not minutes after I posted this....

Could be the start of an epic C wave correction, we will see. Best of luck out there everyone. Catch you on the next dildo

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Had a funny feeling the weekly close would produce some nice downside if only temporarily.
What a scalp this would of been, my God

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“Swim with the whales, or get eaten by them.”
“Pigs get fed, hogs get slaughtered.”

Two golden rules of trading.

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Attempted to post this unreleased idea shown here:

On a new AlanMaster idea shown here:

Bitcoin 2020 Going To $82,352 (Simple 12345 Elliot Wave)

And this was the result. Notice I also included a picture of the recent comments I have made. In one comment I was discussing this potentially happening with Giorgio, and the other comment I'd discussed this potentially happening on an idea of London55555. So, where is this 'moderation' need coming from exactly?
Did I break the rules any time recently? What did I do to deserve my comments on other peoples ideas to be censored? This along with the fact that my 'The Satoshi Signal Appears.' idea being completely hidden from anyone but my follower base is a strong indicator someone is trying to shut me up.
imgur.com/a/YFUxIZI

I find it incredibly interesting that for some reason I cannot post immediate comments to peoples profiles anymore.When I go on to Alan's idea about Bitcoin people are freely posting comments, so am I the only one with this problem?

Also, notice the front page and how it's mainly bullish?
Yeah..

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tradingview.com/x/1fcKiZhM/Speaking of a coil...

deactivatedaccount123

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