BTC indicating higher chance to long vs going short (better risk to profit ratio to long)
My plan for today's trade:
Hello everyone, sorry for the long absence on postings.
Ever since BTC was listed in futures market, volatility has been crazy! You probably noticed many top trading view posters making multiple wrong predictions for the last few weeks, myself included! After noticing BTC and crypto in general seems to be hunting chartists (the new CME futures managers I assume have been busy) and how BTC seems to be moving opposite to what we all charted multiple times, I decided to take a break from Crypto and to spend more of my free time with my family.
The last few days however, BTC seems to be stabilizing. No we are still not out of the bear, but volatility is not as crazy and it seems, and the whales it seems are no longer as incline to purposely hunt chartists!
For the next few weeks, I am going to post in 4 hour format. The idea is to reduce the possibility of error within the short term periods just in case the volatility knocks back.
As of the time of publishing, hourly chart is almost overbought, so a correction is likely imminent. We have a strong support stabilizing in the form of a falling wedge, this is where we hope the push will happen. Chart is pretty much self explanatory, just ensure to put a stop loss near the orange support line (45k) as if this breaks, we will most likely see a huge pullback (and there is a huge possibility the whales will purposely crash this since everyone is now seeing a possible bullish uptrend). There is also a chance that we will suddenly spike up and pass through the falling wedge and not doing a sideway like I pictured.
Reduce your leverage and play tight stop loss, watch and see, but most importantly be patient!
If you have been losing quite a lot the past few weeks, dont worry you are not alone! You can trace back many top people in tradingview making the wrong predictions too, things have been off for many chartists (I suspected this was done purposely by the whales).
Good luck and lets monitor this new progress together, carefully!
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!
My plan for today's trade:
Hello everyone, sorry for the long absence on postings.
Ever since BTC was listed in futures market, volatility has been crazy! You probably noticed many top trading view posters making multiple wrong predictions for the last few weeks, myself included! After noticing BTC and crypto in general seems to be hunting chartists (the new CME futures managers I assume have been busy) and how BTC seems to be moving opposite to what we all charted multiple times, I decided to take a break from Crypto and to spend more of my free time with my family.
The last few days however, BTC seems to be stabilizing. No we are still not out of the bear, but volatility is not as crazy and it seems, and the whales it seems are no longer as incline to purposely hunt chartists!
For the next few weeks, I am going to post in 4 hour format. The idea is to reduce the possibility of error within the short term periods just in case the volatility knocks back.
As of the time of publishing, hourly chart is almost overbought, so a correction is likely imminent. We have a strong support stabilizing in the form of a falling wedge, this is where we hope the push will happen. Chart is pretty much self explanatory, just ensure to put a stop loss near the orange support line (45k) as if this breaks, we will most likely see a huge pullback (and there is a huge possibility the whales will purposely crash this since everyone is now seeing a possible bullish uptrend). There is also a chance that we will suddenly spike up and pass through the falling wedge and not doing a sideway like I pictured.
Reduce your leverage and play tight stop loss, watch and see, but most importantly be patient!
If you have been losing quite a lot the past few weeks, dont worry you are not alone! You can trace back many top people in tradingview making the wrong predictions too, things have been off for many chartists (I suspected this was done purposely by the whales).
Good luck and lets monitor this new progress together, carefully!
The arrow icons are guide lines. It will not hit exactly on the same spot.
Use them as guidelines to make decisions based on the ongoing channel lines closest to it. A rejection usually occurs when the line is hit. These are where u usually enter your trade, or set your stop loss, or gradually increasing your stop profit point.
1) breaking the channel line means continuation of the current trend.
2) rejection of the channel line means reversal of the current trend.
The arrow patterns are possible movement path. It will not move exactly as how they were drawn. Use them as guidelines to consider your decision
Please always remember to put a stop loss when you first enter a position, a stop profit when you are already in profit, and never chase a trade.
Should you have any questions or inputs, please let me know in the comment section, I will always answer them as best as I can,
Thanks for stopping by to my post, hope it can help you better in your decision making.
Please support my idea with a like should you find my idea helpful, it will mean a lot to me. Thanks and kindest regards!