Hey followers and welcome to a new Chart, post and bias on BTC after our last marathon.
Since price came back to the key $9,750 level, not much has happened in terms of price movements, but what has happened is crucial to our Analysis, and Bias and dictates our next entry. We have sat in a small range but we have a 4H close below the level. Not the close of the next 4 H Bar is crucial. If the bar closes RED, price will have fallen and we will have an ABC Pattern and entry short and a clear SELL signal. If it closes GREEN we will have a Ring Low, a classic Bottom structure that would be very Bullish. It would be a Clear buy signal.
For the aggressive trader any Break of the recent lows at $9,516, would be a sell, and a break of $9,750 could be a buy. Clearly it’s a key area on the chart and we will hope the US volume will come in and make it clear for us.
Of these entries I would be prepared to sell the first break below $9,516, and will write it up for you. I see a break being very Bearish. If we go long just use the Blue levels.
Sell $9,515.00 Buy back Targets just before the Orange lines at $9,013.00 and $8,338.00, I will post more targets if we get entered.
Quote of the Day
"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." - Paul Samuelson If you think investing is gambling, you're doing it wrong. The work involved requires planning and patience. However, the gains you see over time are indeed exciting!
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W are still hanging around in the tight range on BTC. We really need some volume to blow this in either direction.
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here it goes make sure you get in on this trade
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If you went short you need to buy back now, we didnt get the break short we were expecting after the bottom broke.
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You can but here being a break of 9750, but need to be aware that volume is low, and price may drift around. The trade is a bit more risky here than normal.
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You can buy here being a break of 9750, but need to be aware that volume is low, and price may drift around. The trade is a bit more risky here than normal.
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If you are buying in this market, i would be prepared to take some profits a lot more aggressively than normal with the dotted Blue lines as Targets 1 and 2.
We have had a very good time in a tough market over the last few days. The odd loser in inevitable, we will continue to watch and advise you of the best opportunities to profit in these markets.
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Target 1 and 2 hit, and Target 3 set as BTC finally breaks the tight range
After a number of False starts while BTC Ranged, we have been entered ln and hit Target 1 and 2. WE have now set Target 3. Its very important to regularly take profit in markets like this one where price is chopping around
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Congratulations to those in the last trade. Target 3 on our trade has just been hit. We should have most of our position closed while we take on the top trendline. WE have just posted a new Daily analysis for those interested. Remember to bank your profits, and like our posts and follow us for more
Whenever the mind is at unease .. just look at the daily .. were all still good .. I've noted one thing there is ALWAYS at least a 50-60% retrace from bull runs if it doesn't happen right away it will at some point I believe we are almost done and ready to head up again next week .. hodl on !
OliverNicolasOverhage
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thank you very much. :). very clear and helpful.
ale408
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It's $9720 now. I believe the stop loss hit?
Nhmenefee
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Thank you sir. And I do appreciate your knowledge and am learning.
Nhmenefee
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It might be a good run but I don't trust this market lately, so I'll just watch and enjoy.
DollarsAndSense
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@Nhmenefee, Everyone trades there own money, and needs to have the courage of there convictions, good on you
siLve_R88
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shouldn't it first break through the $9800 level before it has a chance to go more?
utkuaslan85
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I got in at 9700. But what is the target this time? i am confused
utkuaslan85
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@utkuaslan85, I sold at 9800 after your low volume confirmation. Thank you.