AND
Dogecoin. Something for the bulls and bearsA quick look at some Dogecoin possibilities through the end of July.
I'd love to hear your thoughts
#BTCUPDATE - 15.7.21
ARE WE GOING TO BOUNCE?
No update on the bullish path from yesterday a bounce here will look to confirm a bullish H/S pattern and see a strong challenge of breaking the key $33k resistance.
Losing the $32.2k here though could be devastating though - and a quick fall to $31.5k and then just losing support after support to $30.1k
There has been a pretty tight consolidation since the rejection from $33k which suggests a big move incoming.
We need to get above $33k to have any kind of foothold so right now it is bearish short-term still.
My play is to long to $33k and then use a tight stop-loss - if we break $33k then an ambitious target of $34k.
Losing $32.2k then targets are $31.5k , $31.3k and then a stretch to $30.3k.
Technical Analysis Isn't Always RightThis has helped me learn that technical analysis isn't always right. I was seeing a head and shoulders pattern, added my graphics, and waited. I expected the head and shoulders pattern to lead to a downward movement, but instead, an upward push ensued.
I also placed my first ever paper trades after making an analysis. This was a great learning experience and I'm ready to try to analyze what may happen next.
EXPRHeres how I entered my long position in $EXPR:
On the daily chart, you can clearly notice the cup formation.
Once I felt the handle had formed after some consolidation and testing support levels, I entered into a long call position off the support bounce from $4.5 setting my strike price for $5 (.30 cent per contract)
EXPR didn't fail me once over the week, every prior day high that was broken, I increased my position size, bought a few more contracts and extending the expiration date to 7/9 and 7/23 along with increasing my strike level to $6
After confirmation on the breakout through resistance levels, I exited the trade selling at $1.20 per contract.
*this is not financial advice*
61.8% recovery ?MATICSo from looking at the MATIC / BTC charts we have already done a 50% recovery from the bottom but I think we may see 1 more leg up to the 61.8% fib level before another pullback occurs. This is not a guaranteed leg up so I am watching closely to see where we go but it can turn downward very quickly considering the bearish flag forming in bitcoins hourly charts.
This is not Financial Advice so please DYOR before investing into cryptocurrencies. This is a very volatile market and no place for ignorance unless you want to give you're hard earned dollars / fiat away to other people who took the time to educate themselves.
Thank you everyone for all of you're support it means alot to me and for those of you who have not followed me please feel free to smash the like button / follow in order to continue to get daily analysis on BTC, MATIC, ADA which are currently the coins I am spectating at this given time.
As always,
Happy Trading Traders & Never Trade Leverage!!