mgibson91

mgibson91 Updated 

My current thoughts and trade plan on BTCUSD (Bitfinex). All feedback welcome! A small short opportunity may be upcoming, as BTC is about to reach a level that is: - Long term 0.236 Fibonacci extension level - Short term 0.618 Fibonacci retracement level - 200 MA (close) - Previous support (now resistance?) BTCUSD (Bitfinex) is about to reach a potential...

mgibson91

The goal here is to track events leading up a possible trade, not an immediate entry. Some bullish thoughts: Major daily support level Likely bullish divergence on 4H chance (pending next candle close) BTC shorts around ATH BTC shorts looking like a possible double top 2 times Fibonacci extension from a recent swing low -> high At lower Bollinger...

mgibson91 Updated 

All on chart, thinking entry on 1H candle close above resistance

mgibson91 Updated 

Entry on retest of broken resistance line

mgibson91 Updated 

A potential opportunity incoming, will be keeping an eye for a reversal and potential entry i.e. double bottom on trend line / support zone

mgibson91

As title mentions: Daily uptrend support line. We have a 4H bullish divergence. Target is slightly below previous support, now resistance.

mgibson91

NOTE: Please take everything below with multiple salt pinches. For those who are considering buying cryptos around this time and or holding on for the mid / long term, the rapid influx of shorts today and possibly the frequent comparisons the 2014 crash might cast a fair amount of doubt into the picture. The chart details most of this, but if we take a look a...

mgibson91 Updated 

Quite simple, buy the 4H 0.382 retracement (also the 1H 1.618 pullback extension) and sell the 4H 1.618, place stop just under recent low pivot

mgibson91 Updated 

If the handle breaks bullish and one enters near that region, it looks like a promising long opportunity. Although, there might be greater returns to be some altcoins i.e. XRP or EOS as these altcoins have had a nice bounce on the 0.382 4H retracement (and 1.618 pullback extension) . See

mgibson91

Could this be the perfect short squeeze storm? 1. We are at a major support 2. BTCUSDSHORTS are almost at a record high, last time they were this high was around 10th April, after which we saw a massive short squeeze 3. Tightly hugging the underside of downtrend line meaning there isn't much distance to go to break through. If we get enough of a breakout, there...

mgibson91

Looking at the weekly chart we can see the strength of the current support level. On the 4H chart, there looks to be a bullish divergence forming. IMO, the current support line it is at is a pretty good long entry. Could also wait until trend line is broken and buy of a retest of a previous resistance

mgibson91

A different perspective of the same idea referenced here: - High volume bullish candle - Occurred on recent bullish breakout's 0.382 retracement - Occurred on the 1.618 retracement of bullish break's bearish correction - Strong bullish stochastic RSI (double bottom on the indicator) - Perfectly touched the bottom of recent channel - Perfectly touched the...

mgibson91 Updated 

We are currently at the 0.382 Fib retracement of the recent long term bear trend breakout. We are also at a 1.618 retracement of this counter trend bearish breakout (using the last swing low - swing high of the bullish breakout wave). We are also at the 1.272 extension of the bearish breakout. If we don't reverse here, the 1.618 area at 6000 would seem to be the...

mgibson91 Updated 

IMO we are seeing a large descending wedge, not a descending triangle. We are currently on the 0.146 weekly Fib retracement and seen some significant bullish price action recently at these levels. If we do break down through the wedge, I expect we will go down to the 5000 region. As such a round number, less than people have been able to buy bitcoin for a good...

mgibson91

Just tracking a personal idea but feel to share any feedback. Looking at two buy zones: Main idea: 0.5 retracement to big previous support and 1.618 fib extension in a gartley formation Sub idea: Wedge consolidation where it only goes down to just above 1.70