1. We're about to see a reversal pattern today. It should print in the next 5-7 hours. Price should retest the high at 17200.
2. Price should then fall to the 61.8% retracement of the bullish part of the correction.
3. Look for a reversal pattern at this level.
4. Price rises to 21300 (inverse fib -0.618). People who bought at December's peak should be happy. They can actually get out for a profit if this plays out.
5. Look for a reversal pattern here.
6. Price falls to an old support line at exactly 5000.
7. Buy as much as your risk tolerance allows.
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P.S. Trading isn't a get rich scheme. It shouldn't be treated as a casino. It should entail proper risk and money management. It also requires you to be adaptable. If you're not comfortable that your trade will be profitable, exit, take a small loss if required and wait for more confirmation. Follow my charts at your own risk. I may change my mind as more "information" becomes available. If you make money with my ideas, feel free to send me a tip, then PM me so I can thank you. Good luck.
BTC: 1YFdkAdhnFhbjvjAJzUHvsgGGknJ4KuEo
2. Price should then fall to the 61.8% retracement of the bullish part of the correction.
3. Look for a reversal pattern at this level.
4. Price rises to 21300 (inverse fib -0.618). People who bought at December's peak should be happy. They can actually get out for a profit if this plays out.
5. Look for a reversal pattern here.
6. Price falls to an old support line at exactly 5000.
7. Buy as much as your risk tolerance allows.
---
P.S. Trading isn't a get rich scheme. It shouldn't be treated as a casino. It should entail proper risk and money management. It also requires you to be adaptable. If you're not comfortable that your trade will be profitable, exit, take a small loss if required and wait for more confirmation. Follow my charts at your own risk. I may change my mind as more "information" becomes available. If you make money with my ideas, feel free to send me a tip, then PM me so I can thank you. Good luck.
BTC: 1YFdkAdhnFhbjvjAJzUHvsgGGknJ4KuEo
Kommentar:
Price looks like its reversing as originally planned. It did take it's time up there which made me question my reversal idea, which is not actually a bad thing. It's always good to consider alternate scenarios.
Question now is where do is it fall too.
Question now is where do is it fall too.
Kommentar:
does*
Kommentar:
So my initial short was placed at 16791. I'm now looking for second entry on this pullback.
Kommentar:
However if price pulls back to above 16700, I will strongly consider closing my first position and re-evaluating.
Kommentar:
Short Entry #2 at 16350.
Kommentar:
Trade 1 Closed: +783
Trade 2 Closed: +343
Price does look like it can reverse so I decided to bank the profits and hit the sack. Will find a new entry tomorrow.
Trade 2 Closed: +343
Price does look like it can reverse so I decided to bank the profits and hit the sack. Will find a new entry tomorrow.
Kommentar:
Looking for a reversal pattern to indicate a pullback probably to around 16000.
Kommentar:
Got in late - Short Entry #3 14905. Target 14655
Kommentar:
Short Entry #4 14733.
Kommentar:
Both Targets moved to 14000
Kommentar:
Both targets reached.
Trade 3 Closed: +905
Trade 4 Closed: +733
Trade 3 Closed: +905
Trade 4 Closed: +733
Kommentar:
Long Entry #1 4744 - Target 16000
Kommentar:
14744*
It does look like there could be a pullback to 16000 and if so this would be a great place to short. We'll see.
It does look like there could be a pullback to 16000 and if so this would be a great place to short. We'll see.
Kommentar:
Two options here - back up to 16000 or continue down to 13400. I may close out Long position for a loss and wait for more information. Not sure.
Kommentar:
Quite premature on my long entry. Should have got in lower at 14200-14400, but was taking a nap. Nearly got stopped out, but if price continues back above 15000, we should be okay for 16000 target.
Kommentar:
Not happy with the Long trade and closed it a small loss. Where as there is a screwed up reversal pattern there, I would have liked price to close below 14000 on the hourly, that hasn't happened. I'm going to wait for more confirmation.
Long #1 Closed: -177
Long #1 Closed: -177
Kommentar:
Long #2 Entry: 14900. Target 16000.
Kommentar:
Received a signal that price could reverse.
Long Trade #2 closed: -262
No more trades unless BTC hits 16000 or 13250
Long Trade #2 closed: -262
No more trades unless BTC hits 16000 or 13250
Kommentar:
I'm not trading this but it looks like it's going to fall to 13300.
Kommentar:
Someone gave me the idea that price could fall from here down to $5-7K instead of going back up to $20K+. I think it's definitely possible. So if a reversal pattern prints, we need to carefully observe that it is definitely a reversal and not a fake reversal/continuation.
The question now is will price reverse after just closing above it slightly or will it continue upwards up until 18K or even 19K.
Still waiting for more information.