Bitcoin (BTC) Will test support again and likely move upwards.
Updated
Wait for a perfect entry then long. Have a stop on this trade. Sorry I do not have time to write this one up, but it looks to be a good risk/reward trade. I take all good risk/reward trades that are supported by a Bitfinex buy wall.
The bounce will continue lower, but not below 6500.
Long:
Lowest price above 6494
Stop Loss:
6494
Thanks for viewing!
I have just finished a BTC short. You may view it in the related ideas.
The bounce will continue lower, but not below 6500.
Long:
Lowest price above 6494
Stop Loss:
6494
Thanks for viewing!
I have just finished a BTC short. You may view it in the related ideas.
Note
There is a very good possibility of BTC testing 6550 on Finex. That means it will go much lower on Bitmex, allowing a very good entry. If you do not have time to monitor, just have a buy at 6550.Note
Make sure you take profit when Bitcoin approaches 6900. That will be the ultimate top for Bitcoin before we start to approach 3500 USD. Please view my other Bitcoin idea to know why.Note
So far exactly like predicted.Buy zone is incoming. Make sure the Finex wall holds first. I will be monitoring for hidden buy walls.
Note
I highly recommend tensorcharts in moments like this. It allows you to track for hidden buy walls and see periods of high selling/buying.So far we have a buy wall 6550 that has been there for 2+ days. It has been tested once already so it is legit.
Trade active
Long is active since 6554. Stop is 1% below, so we are risking 1% for 5%. It is a good trade to take.We just need to get 20% of these trades correctly to be profitable.
Note
The buy wall absorbed 400+ BTC.Trade closed: stop reached
Stop reached for 1% loss.Note
The sellers are starting to dry up. We may get a bounce soon.Note
Too early to call the bottom, but we will probably consolidate here before making our next move. I would like to believe it is up so I can hit the 6900 target.
Note
This is what I am imagining if we push up. You may try to short the resistance once a bull fractal with a high wick has been formed. Have a stop loss above.
Note
Look for the break out/break down.
Note
New chart updated. Please check it out! I appreciate it.
Related publications
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.