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BTCEUR trade ideas

This was expected, and possible more to comeHello there wonderful person! Just logged in to see how BTC fared in these treacherous water we sail in today, along with the rest of ALT coins and DEFI. If you have read my articles from the beginning, you probably noticed that this correction in September was expected, and one of the reasons behind were due to movement in the stock market and macro market. Yes, crypto is still very much correlated to the stock market and macro market; but I believe it evolves to be less and less over time. Now, to be truthful, although I did predict September as the month of red and correction (second wave);What we are seeing now is not what I had in mind. This is not enough correction, and I expect more to come in September or early October (Depending on the monetary actions of each nation, could even be so late as december). We will probably see a bounce from here up to mid September, then a new stronger correction. However, possibilities are that the bounce can continue to a strong upward bullish run, but unlikely. I know this sounds very much a fortune cookie prediction where two possibilities are told, but we need to consider all outcomes and determine the likely-ness of each of them. Then place our strategies accordingly. Strategies - My initial buy order at 8600 EURO got filled during this correction, and will place a new one at 8050 EURO. - Strategy is to collect some BTC at each strong resistant as it moves down. - If it does not move down, and goes on a bullish run; Then I feel good with my current positions. - My buy in now is only for good opportunities, and no sell orders. Disclosure & Sharing Experiences I am far from perfect trader or even hodler, and wanted to share an experience. This period of DEFI and bullish period of BTC and ETH, I let my feelings overcome me and I bought some of these coins: REN, SNX, BAND, SXP, THETA, DOT and BNB. Now, on some of those I have already potential lost (Not booked my losses and profit yet) money, but I feel that is ok. Reason I feel it is OK, is because I find those projects to be very interesting and believe they can do good. I invested only the amount I felt comfortable with losing, as I knew that it was a strong possibility it will be lost. What I am not proud of and still are working on, is the fact that I got hooked by that FOMO and bullish run, even though my charts and gut told me there will be a correction. I still have a long way to go as a good trader and hodler, but I will keep sharing my experiences and thoughts with you all in hopes others can learn by my mistakes. Wish you all much of knowledge and great experiences, along with amazing trades!!!
Short
by egilagre
1
Correction has come, but how large?Hello hello beautiful person! The divergence in RSI and other indicators have present for some time, but the FOMO in DEFI has been an amazing rally; combined with an above normal public awareness in internet and Televisions. We are seeing a correction now, but the question is: how strong, and is this the one I have been anticipating? T he chart The chart is in Heikin Ashi, NOT price candle RSI is showing divergence Stochastic is showing divergence CCI is also having divergence, but most importantly has not crossed to negative area (but in price candle chart it has) Nearest strong support is EURO 9526, which we will hit if the correction is of any noticeable strength. If it is not hit, I believe that the hype will continue until previously suggested month. Strongest support is area around EURO 8338 - 8000, which is a combined highest volume price level and previously tested support line. Conclusion There is too many moving parts in this economy now that is mixing with BTC, and makes it close to impossible to make any safe`ish TA predictions. The world are seeing a spike in the number of infections as predicted, and larger companies have reported negative financial reports as predicted. It is unknown how the nations governments will react and how the sentiment of the market will respond. The overall notion I have is that BTC will increase as well as adoption, but I am not convinced it will happen this year as many others believe. It all depends on how much the nations governments around the world can and will do in order to try and protect the bubble, because we will see more negative numbers or stagnation on balance sheets (on many of today large cap companies) this year and next year. If nations are "all in" to protect the bubble, I believe we will not see the "real" rally of BTC until next year (inflation from fiat included), but we will see a good increase in price this year. The good price increase, I would reason as a trend along with gold. Insecurities in the market and investor hedge in BTC, and precious metal.
by egilagre
2
BTC UP - THE SECRET INDICATOR SAID IT BACK THENHello, the secret indication was correct: BTC was not retracing to 7k but rather going up (SEE THE LINKED IDEA). This is not to drag, but as a confirmation that the secret indicator works and can be used as a great confirmation. Please note I said confirmation. It has not to be used as the one and only rational for an investment decision. Said that, it still shows a 26% upside still as per the chart below. Also, the BTCEUR chart is clearer than the USD one, showing a clear restest and accumulation phase above the support. We can also see a triangle with the same exact target of the fibo extension targets is 10,900-11700 EURO
Long
by edutradinguru