BTC time to secure your earning before the FALL !
Updated
hello people.
as you see on the chart we are approaching the downtrend from ATH. thus we have 2 scenarios ( obviously ) so in this post i will show you how to make the MOST of both.
if you want a straight forward ( BUY or SELL) signal then this place is not for you.
so let's get right into it.
-1st scenario ( the more likely to happen)
A bounce back from the trend line , followed by some more panic sale and we head straight to support trend.
-2nd scenario( I would love to see this happen)
A break through , a close above the trend and then massive volume that will take the price to 11K in no time.
now everyone should consider their options.
since we are LONG from 6400-6600 what i would do now is move my SL to the latest developed support at 7650- 7800 area.
this way if we go down i still keep a good amount of profit, and if we break though that trend I won't FOMO.
another approach is to sell at the trend ( 8400-8500) which is also a resistance line from the last high. and then wait for a clear confirmation above the trend to go long again, do not worry and do not fomo if we break though there will be A LOT of money to make don't worry about getting in TOO early and ending up being a bag holder. better to enter a bit late than too early.
regarding ALTs after the break/bounce alts will follow BTC, so be careful. lock in profit, more SL to highest lows. better be safe than sorry guys.
I think in 2-3 days we will have a much clearer view on the market . i will post updates as i see fit.
Good luck
as you see on the chart we are approaching the downtrend from ATH. thus we have 2 scenarios ( obviously ) so in this post i will show you how to make the MOST of both.
if you want a straight forward ( BUY or SELL) signal then this place is not for you.
so let's get right into it.
-1st scenario ( the more likely to happen)
A bounce back from the trend line , followed by some more panic sale and we head straight to support trend.
-2nd scenario( I would love to see this happen)
A break through , a close above the trend and then massive volume that will take the price to 11K in no time.
now everyone should consider their options.
since we are LONG from 6400-6600 what i would do now is move my SL to the latest developed support at 7650- 7800 area.
this way if we go down i still keep a good amount of profit, and if we break though that trend I won't FOMO.
another approach is to sell at the trend ( 8400-8500) which is also a resistance line from the last high. and then wait for a clear confirmation above the trend to go long again, do not worry and do not fomo if we break though there will be A LOT of money to make don't worry about getting in TOO early and ending up being a bag holder. better to enter a bit late than too early.
regarding ALTs after the break/bounce alts will follow BTC, so be careful. lock in profit, more SL to highest lows. better be safe than sorry guys.
I think in 2-3 days we will have a much clearer view on the market . i will post updates as i see fit.
Good luck
Note
Seems like we breaking out. we still need the daily candle to close above the trend line. my SL is still that 7700$. if we close above then i will trail my stop under the trend line.
Note
Daily candle closed BULLSHIT, so i was wrong this time but i am happy lol.an update is here.
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.