BTC/USD Short term outlook 4hr Bitstamp. Bull for now!
HI guys,
I have been out playing the short side looking for the target of that MEME triangle breakdown( shown in last post) that took over months to playout. We have to roll this way in order to hedge our BTC stack. Unfortunately, thats how it is when you are a full time trader, making a living from it.
However, there were some indications from a psychological, and technical perspective to enter a long trade at the formation of the ADAM and EVE Bottom . Moreover, on the fundamental side, nothing has changed and only progress is being made in the BTC realm. with Institutional investors very interested on OTC buys at these levels towards the NASDAQ BTC futures and Bakkt opening in Q1 2019.
Triggers:
1) Heavy oversold on all timeframes besides( by a tiny bit) the Weekly. ( technical)
2) Shorters are bragging about how easy it is to make money in this market. ( Psychological)
3) ADAM and EVE bottom formation w/ the oscillators giving major reversal signals, like bullish divergences, on all major timeframes. ( technical)
The reason im showing the 4hr chart is because , having said all of this i am still mid term bearish and prefer to look at shorter timeframes to evaluate as we go along.
So, enough bear for now. there is money to make right now on the upside if we consider these factors above.
So we are looking a one way up ticket for now, even considering a slight possible retrace towards the 23.8% fib line reset the overbought ocsillators on the lower timeframes to give a shot at towards targets at around 4600 where also the Ichimoku will acting as heavy resistance.
On the counterpart, will become neutral/bearish again short term if we manage to break 3800 USD to the downside.
...THIS is not investment advise. just sharing my own strategy.
Happy Trading.
I have been out playing the short side looking for the target of that MEME triangle breakdown( shown in last post) that took over months to playout. We have to roll this way in order to hedge our BTC stack. Unfortunately, thats how it is when you are a full time trader, making a living from it.
However, there were some indications from a psychological, and technical perspective to enter a long trade at the formation of the ADAM and EVE Bottom . Moreover, on the fundamental side, nothing has changed and only progress is being made in the BTC realm. with Institutional investors very interested on OTC buys at these levels towards the NASDAQ BTC futures and Bakkt opening in Q1 2019.
Triggers:
1) Heavy oversold on all timeframes besides( by a tiny bit) the Weekly. ( technical)
2) Shorters are bragging about how easy it is to make money in this market. ( Psychological)
3) ADAM and EVE bottom formation w/ the oscillators giving major reversal signals, like bullish divergences, on all major timeframes. ( technical)
The reason im showing the 4hr chart is because , having said all of this i am still mid term bearish and prefer to look at shorter timeframes to evaluate as we go along.
So, enough bear for now. there is money to make right now on the upside if we consider these factors above.
So we are looking a one way up ticket for now, even considering a slight possible retrace towards the 23.8% fib line reset the overbought ocsillators on the lower timeframes to give a shot at towards targets at around 4600 where also the Ichimoku will acting as heavy resistance.
On the counterpart, will become neutral/bearish again short term if we manage to break 3800 USD to the downside.
...THIS is not investment advise. just sharing my own strategy.
Happy Trading.