Bitcoin Projections: A Beautiful Set Up and Breakdown - $$$
My philosophy with trading is, up or down, lets make money. I love shorting, and I love bull markets. Most importantly, I've taught myself how to make money in both markets. Its allowed me to be unbiased, and its allowed me to be more adaptable.
First look at bitcoin and all the research I did, the analysts had vague interpretations and recommended larger plays. I'm a day trader, I dont like staying in the market long as it increases my risk/reward as Bitcoin is volatile and its easier to be right about a quick move given the right indicators and confirmation than it is to predict an entire direction over a longer period of time.
I took a few hour interruption before posting this just now so hopefully all is playing out well ....
The overall short term play here is to short at the top of the triangle, and then exit the trade at the bottom for a quick 250$ swing. A tight stop loss can be placed on the outside of the triangle to minimize risk if we do break out the top.
Overall the triangle has bullish indicators and sentiment to it, however, for me its a 50/50 as i expected us to drop out the bottom on that last fall, so theres lots of support at 9k... until there isnt. I'll update the next moves, you can play the break on this too, but i am waiting to play the break past 9500. On the breakout of the bottom of the flag, i'll keep riding my short i placed at the top of the triangle. That's the gameplan, hope all you traders make some money!
www.thecryptoblend.com
Join my Youtube under Crypto Hippo to see video demonstrations and walk throughs of these charts i make. I make a video every day to keep everyone posted and updated on my plays.
First look at bitcoin and all the research I did, the analysts had vague interpretations and recommended larger plays. I'm a day trader, I dont like staying in the market long as it increases my risk/reward as Bitcoin is volatile and its easier to be right about a quick move given the right indicators and confirmation than it is to predict an entire direction over a longer period of time.
I took a few hour interruption before posting this just now so hopefully all is playing out well ....
The overall short term play here is to short at the top of the triangle, and then exit the trade at the bottom for a quick 250$ swing. A tight stop loss can be placed on the outside of the triangle to minimize risk if we do break out the top.
Overall the triangle has bullish indicators and sentiment to it, however, for me its a 50/50 as i expected us to drop out the bottom on that last fall, so theres lots of support at 9k... until there isnt. I'll update the next moves, you can play the break on this too, but i am waiting to play the break past 9500. On the breakout of the bottom of the flag, i'll keep riding my short i placed at the top of the triangle. That's the gameplan, hope all you traders make some money!
www.thecryptoblend.com
Join my Youtube under Crypto Hippo to see video demonstrations and walk throughs of these charts i make. I make a video every day to keep everyone posted and updated on my plays.