Taiwan_Bear

Taiwan_Bear

BTC has continued higher without much retrace after I took some profits at around $16000. Undoubtedly, I missed some of the potential profits from $16k to $22k on BTC. However, as updated previously, I have moved most of my BTC positions into alts (including XRP that went from $0.25 to $0.75 in which mentioned in the recent XRP updates). I don’t think I have...

Taiwan_Bear

Hello guys, this is just a quick update on ETH Last week when bearish divergence occurred on the daily timeframe, I updated you in the weekly analysis with the idea to take partial profits at $59X. Although our first target is still at $780 we cannot ignore the bearish price actions occurred at a close proximity to the weekly resistance. Hence, I decided to close...

Taiwan_Bear Updated 

Hello friends, XRP has made massive growth in the past week. The last two updates I mentioned to you $0.15 was a great buy for investment (see below). Many signs were indicating the bottom for XRP was in. We got huge volume at around critical support @ $0.15 and the crypto market was overall bullish. Evidently, many retail traders who have been holding XRP have...

Taiwan_Bear

Dear friends, In the recent update I informed you that I was going to take some profits at $16k as there were some serious resistances. Many said I took profits too early and that technical analysis do not work. Instead of focusing on the “securing profits” part, so many of you are focusing on calling bottom/tops. To become a profitable trader, it is about...

Taiwan_Bear

BTC has continued higher with no surprise. In the last few updates I shared the reasons why I was bullish on Bitcoin, in particular the dead giveaway was the drop in March 2020 and the months of consolidation below the $10,000 resistance. Current prices are at a location to lock in some profits. Both the 0.786 fib retracement of the entire bear market ($15,900)...

Taiwan_Bear Updated 

Last analysis was quite important but unfortunately it was banned. Anyway, let's do a quick recap. In the last update I talked about Bitcoin is still bullish on the weekly timeframe. Two reasons in particular that confirm the bullish bias are: 1. The drop in March has flushed out most retail traders 2. The months of consolidation (May 20 - Jul 20) BELOW...

Taiwan_Bear

As usual, we start our analysis from the weekly timeframe. In my opinion, ETH is still bullish because: 1. Double bottom was confirmed when 2019 high was compromised 2. Market broke above triangle. If a triangle occurs after significant corrections, it usually means market is bullish once market breaks above the top trendline of the triangle. 3. The double...

Taiwan_Bear

Haven't update XRP for a while. Although the price has risen 100% since I told you I bought at $0.15 (previous post re-attached below), it's barely satisfactory if compare to other alts. However, normally the market re-bounces much higher when it takes longer period to consolidate. Many people told me their target is $0.5 but in my opinion we should be greedy...

Taiwan_Bear

People who missed out the recent pump is likely going to take the below actions 👇🏻: 1. Adding long positions at weekly resistance (ie. now) 2. Revenge trading by shorting with high leverage (as they have missed out the entire up-move since $4k) 3. Took ALL profits on previous buy positions Although the market is still bullish from many perspectives, there is no...

Taiwan_Bear

~~~~~~~~~~~~~ BTC movement ~~~~~~~~~~~~~ The target of $10,800 was hit yesterday. Let’s wait for next swing trade setup to emerge itself. I will not consider to chase the price now considering there are resistances right above the current price level. My long-term positions bought @ $7,000 is still holding, there is no reason for me to take profits now,...

Taiwan_Bear Updated 

I am still holding my long from recent buy mentioned in the update. Luckily my SL @ $9040 was not hit on my exchange. Pure luck. Regardless, although the price broke the downtrend line, weekly timeframe still shows nothing other than sideways actions. Thus, limit your risk and don't over trade. My target is still $10800, you can use the same method that I...

Taiwan_Bear

When things are not so clear I like to zoom out to see from a broader perspective. As mentioned since months ago that I think the most likely scenarios for Bitcoin was to go sideways. A few BTC trades were given to you during this consolidation, with a couple hit SL, 1 hit target, 1 still running. Basically, tiny losses from trading Bitcoin (which I consider...

Taiwan_Bear

On the weekly timeframe Price is still in range consolidation between $8,400 - $10,200. Right above $10,000 there are also resistance levels at $11,000 & $14,000. This means any aggressive buying at this price range isn't the best way to trade. If you have followed my previous long term calls and still hold positions from $7k, we have nothing to worry...

Taiwan_Bear

I gave you a quick update yesterday when price broke below $9,500 - "the price went sideways after breaking above the recent high, but then followed by a breakdown (ie. fake breakout). It's not the best price actions for buyers. Better wait for change of structure first". This concept of change of structure was mentioned repeatedly in my past trading ideas....

Taiwan_Bear

Two weeks past and nothing much has changed until the previous daily candle close which may give a glimpse of hope to the upside. (click here for my mid-term outlook) Bitcoin has neither retested $8400, nor did the market follow through after the dump on the 11th Jun. On the weekly timeframe, it has the look of a range box, or a possible ascending triangle....

Taiwan_Bear

A drop ensued after hitting the critical resistance zone mentioned in the last update. However, there was no follow through after the drop. Instead, the market starts to climb up slowly again. At this moment, price actions still favour the bulls but it certainly does not mean that you should buy near the resistance level. Buying at resistance is never part of my...

Taiwan_Bear

BTC is still keeping its bullish formation since March. As mentioned in the last idea, I am not bearish unless the daily timeframe is closed below $8,400. However, keep in mind: BTC is currently at the critical resistance, ie. the February high. The uptrend channel since March 2020 has 'probably' become flatter. The reason I am saying probably is because...

Taiwan_Bear

BTC is still consolidating between the range of $7,700 - $10,000 that I mentioned to you on the 10th May. Subsequently, the price has followed the triangle that I mentioned to you on the 25th May (before it happened). So, nothing unexpected. (10th May BTC idea below - click & play) ~~~~~~~~~~~~~~~~~~~~ Novice trader mistakes ~~~~~~~~~~~~~~~~~~~~ As I have...