#bitcoin long from 6750-7053 w sl at 6660 & target 11293
Right now, I see a trend line that if breached downwards might cause pain for BTC price. The price range between 6750-7053 is very strange!. If it breaches below 6750 and in 4 hours time stays below that, I will be a bit skeptical about the bull run.
But, the price 7053 is a good point to go long for 11295. The stop loss would be at 6600.
$BTCUSD has just started the bull run similar to 2015. It might look overbought but this is Bitcoin . Hence, I would not call it overbought just a little hot at this instance. Last time, in 2015-2017, it lasted 2 years from $300 to $19K. If history is a guide, then this time can we expect similar movement in #bitcoin
Bitcoin price has already closed above 50 MA, 100MA and 200MA.
It has printed the golden cross. The weekly MACD crossing above the zero line is a clear indication of bullish nature from $BTCUSD
23.6% retrace of the entire bear market was at 7123 for $BTCUSD. And, I said mentioned in my last charts, it hit that.
50% is at 11295. And, I feel this will be hit as well.
Do realize that On May 20, 2020, the next halving of #bitcoin will occur resulting in supply side changes. This will cause, if history is an indication, for $BTCUSD to increase a lot. At times, there is a clear correlation between #bitcoin reward halving and price volatility afterward
While the SEC has not yet approved any crypto ETFs, it may be just a matter of time before one passes muster with the regulator
If you want to go short in #bitcoin, be mindful that it is having bullish time and can at any moment skyrocket to wiping all your holding. Your stop loss just won't cover.
Better to be long here or wait than short for $BTCUSD.
The main rise in #bitcoin price will happen once the fidelity $ gets in
I said ~7000 will happen within a few days when price was less than 6000 around low 5000. And it did. And, I say ~11295 will happen very soon.However, I am not sure how soon is too soon. There can be down days and up days in between. But, 11295 is definitely a probability.
The ratio between shorts and longs has come down to a manageable limit. But I feel the shorts will pile up again. I talked about short squeeze that are about to happen and it happened.
Hope you followed my earlier posts and made profits. Like this and follow me, maybe? Follow me on twitter , mauybe?
Lessons to remember:
1. Always have Stop Loss as soon as you have a trade going
2. If stomach hurts, something is wrong!
3. Do not overtrade & stick to original plan
4. On waking up suddenly in middle of night, add Stop Loss rather than close at market!
5. DON't FOMO in middle of night or when tired
6. DON't FUD and stick to your plan
7. DON'T overtrade & don't try to scalp/create a trade
8. Exit when plan not materiaizing
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Trading cryptocurrency carries a high level of risk(volatile), and may not be suitable for you. The high volatility / leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. I have lost most of my investment in this. And, you may as well. Trade only with risk capital; that is, trade with money that, if lost, will not make you angry, sad or go depressed. I may or may not follow the ideas I share here or in twitter . You should do your own due diligence. I take no responsibility for what you do.
But, the price 7053 is a good point to go long for 11295. The stop loss would be at 6600.
$BTCUSD has just started the bull run similar to 2015. It might look overbought but this is Bitcoin . Hence, I would not call it overbought just a little hot at this instance. Last time, in 2015-2017, it lasted 2 years from $300 to $19K. If history is a guide, then this time can we expect similar movement in #bitcoin
Bitcoin price has already closed above 50 MA, 100MA and 200MA.
It has printed the golden cross. The weekly MACD crossing above the zero line is a clear indication of bullish nature from $BTCUSD
23.6% retrace of the entire bear market was at 7123 for $BTCUSD. And, I said mentioned in my last charts, it hit that.
50% is at 11295. And, I feel this will be hit as well.
Do realize that On May 20, 2020, the next halving of #bitcoin will occur resulting in supply side changes. This will cause, if history is an indication, for $BTCUSD to increase a lot. At times, there is a clear correlation between #bitcoin reward halving and price volatility afterward
While the SEC has not yet approved any crypto ETFs, it may be just a matter of time before one passes muster with the regulator
If you want to go short in #bitcoin, be mindful that it is having bullish time and can at any moment skyrocket to wiping all your holding. Your stop loss just won't cover.
Better to be long here or wait than short for $BTCUSD.
The main rise in #bitcoin price will happen once the fidelity $ gets in
I said ~7000 will happen within a few days when price was less than 6000 around low 5000. And it did. And, I say ~11295 will happen very soon.However, I am not sure how soon is too soon. There can be down days and up days in between. But, 11295 is definitely a probability.
The ratio between shorts and longs has come down to a manageable limit. But I feel the shorts will pile up again. I talked about short squeeze that are about to happen and it happened.
Hope you followed my earlier posts and made profits. Like this and follow me, maybe? Follow me on twitter , mauybe?
Lessons to remember:
1. Always have Stop Loss as soon as you have a trade going
2. If stomach hurts, something is wrong!
3. Do not overtrade & stick to original plan
4. On waking up suddenly in middle of night, add Stop Loss rather than close at market!
5. DON't FOMO in middle of night or when tired
6. DON't FUD and stick to your plan
7. DON'T overtrade & don't try to scalp/create a trade
8. Exit when plan not materiaizing
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Trading cryptocurrency carries a high level of risk(volatile), and may not be suitable for you. The high volatility / leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. I have lost most of my investment in this. And, you may as well. Trade only with risk capital; that is, trade with money that, if lost, will not make you angry, sad or go depressed. I may or may not follow the ideas I share here or in twitter . You should do your own due diligence. I take no responsibility for what you do.
Trade closed manually:
Market turning against bulls. The time will be back. Taking whatever profits made and will create a new chart