Hello Lads and Ladies,
This is a daily Update on Bitcoin from our private mentoring group.
As one can see and identify, we are technically still inside a bear flag formation with a double support.
This is definitely not a bullish sign. Normally looking at this, we would be seeing a breakdown to 4k and with a break of it another crash to 3550.
Now, what is the bets way to normally trade this?
Take a look at what day we have. (Saturday -> weekend -> low volatility, liquidity and price movement)
Based on this, we can see that a break of any of these lines is rather not possible.
We are near the green line, which would give us the lowest loss should we actually break the green line. -> short
We are in a bear flag -> short
StochRSI is pretty high and momentum is about to turn make bigger moves done -> short
OVERALL -> SHORT
Why?
Close above the green line on 4h would be your SL. -> minimal loss
Many, many indications are bearish. -> short
TP?
set up TPs at the supports and make sure to take out 75% before 4k.
Like and Follow me and you will find this page interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
This is as always a delayed post, if you are interested in first hand news, feel free to join our group,
Cheers, TJ
This is a daily Update on Bitcoin from our private mentoring group.
As one can see and identify, we are technically still inside a bear flag formation with a double support.
This is definitely not a bullish sign. Normally looking at this, we would be seeing a breakdown to 4k and with a break of it another crash to 3550.
Now, what is the bets way to normally trade this?
Take a look at what day we have. (Saturday -> weekend -> low volatility, liquidity and price movement)
Based on this, we can see that a break of any of these lines is rather not possible.
We are near the green line, which would give us the lowest loss should we actually break the green line. -> short
We are in a bear flag -> short
StochRSI is pretty high and momentum is about to turn make bigger moves done -> short
OVERALL -> SHORT
Why?
Close above the green line on 4h would be your SL. -> minimal loss
Many, many indications are bearish. -> short
TP?
set up TPs at the supports and make sure to take out 75% before 4k.
Like and Follow me and you will find this page interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.
This is as always a delayed post, if you are interested in first hand news, feel free to join our group,
Cheers, TJ
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mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
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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.
Get access to the MyAlgo Indicator:
mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
mkast.io/pricing
Join our Discord under
discord.gg/9gNwXHd
Follow me on Twitter under
twitter.com/KongBTC
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.