14 days left till Halving! This is what my game plan looks like! Expecting a pullback over the next few days for the bearish divergence to play out, then a shot to the 9 k area where we will touch the previous two highs' trendline. Could imagine a little fake out there to cash the bears stops before getting his overdue correction after the halving! Might not go down as far es I put it on the chart, but I'm not expecting it to go further down since that would mean breaking an uptrend from since the beginning of the 2017 season. Enough bears are waiting to reenter after shorting this rally to catch the falling knive before it reaches the floor. After that: Moon!
Stay safe!
Stay safe!
Comment:
Seeing this as a second possibility for the final low. However, considering the heated market sentiment and a potential stock crash, I'm expecting a much faster paced breakdown!
Trade closed: target reached:
Target area has been reached way earlier then expected, missed the breakout on my too greedy expectations of a pullback and stopped back into BTC. Sold part on the first attempt to break 9,5 k, shorted some now with the second try! Stop Loss above 9,6 k.
This can go both ways now. I'm seeing a bearish div on H4, and I personally do not expect a break through this long term downtrend. Shorting here with a SL after breakout confirmation is the best RR in my opinion, you risk 2-3 % unrealised profits for the safety of having you're earnings from this move in your pocket. If it falls, you can pick a re-entry point; if it breaks, there is not too much resistance above and we might fomo up to the ATH, but will not miss much of the move.
First support if it breaks down should be around 7,8-7,9 k!
Target area has been reached way earlier then expected, missed the breakout on my too greedy expectations of a pullback and stopped back into BTC. Sold part on the first attempt to break 9,5 k, shorted some now with the second try! Stop Loss above 9,6 k.
This can go both ways now. I'm seeing a bearish div on H4, and I personally do not expect a break through this long term downtrend. Shorting here with a SL after breakout confirmation is the best RR in my opinion, you risk 2-3 % unrealised profits for the safety of having you're earnings from this move in your pocket. If it falls, you can pick a re-entry point; if it breaks, there is not too much resistance above and we might fomo up to the ATH, but will not miss much of the move.
First support if it breaks down should be around 7,8-7,9 k!