If you have to go. Go LONG trade setup *High Risk*
Hello Traders,
This is the name of the game. We pick out trades, set our stop losses and go with it.
We have seen a healthy flow of money back into the market. Mainly in the alt market. There have been some positive signs that a break to the upside is in bound. Our guys initially put in longs at $6095. We had posted updated ideas on our charts only to have trading view delete them. (I'm posting this idea and another one from our group a members which goes into greater detail.) The issue with the market testing lower lows has been how the shorts have been stacked sky high and the market makers have been trying to hit them with 50% more of the market more short at on time which was around all time highs. So don't expect a fall... Remember the casino doesn't want to play out. One strategy that has worked well for us is shorting every bounce for large profits.
The margin market is starting to even out a little bit more and a lot of shorts from $6,000 have been liquidated. I think its only a matter of time till we break to the upside of $6800-7150 max and then resume a fall. On the bearish side we need to print some higher numbers or expect a fall currently. We have been absolutely range bound over the past 72 hours but slowly creepy up to hit those shorts. If I see us settle above $7200 in the next coming days I'll revise our ideas.
We had a thrown up a chart and a description to long $6095 but since we had gone into too much detail that we have a FREE TA Group of good traders from the community here are part of and you can find it by checking our signature for more details. Nearly all of our charts ideas and ideas had been deleted by tradingview. This is not a free community and there is not much we can say here.
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Another chart from our community.
We have updated our idea. We have been monitoring Bitcoin had rejected $6600 multiple times and now a sell off is his sitting.