Looking for a long term buy, hold and pray type setup. I believe there is a high probability that BTC will drop to this confluence area between previous support/resistance, trendline support and 400 round number support and bounce back up to at least 1000. What happens after then, if that eventuates, I have absolutely no idea but I don't see it dropping below 300...
This is not a trade idea as no strong trend but an example to new traders of how to use MACD divergence. In the circles you can see the price makes lower lows as does the histogram. When the histogram makes significant humps like that you should expect another move in that direction after price goes back to the zero line. In the third circle you can see price...
Trade of the week in my opinion, only question is take profit. Conservative target would be just above 79 but I would recommend just above 78. You could take half off at 79, move stop to break even and take the rest off at 78.
I am obliged to take this trade because it is such a strong trend and the momentum indicates at least a liittle more strength left. I have one concern with this trade. As a rule I will look at the histogram and keep taking trades in the direction of the trend UNTIL there is a smaller bump in the histogram after crossing the zero line. This is an unusual example...
Predicting consolidation for the next week, cant see any real support or confluence to buy off until just above 1.36 so my best advice is to look at non-USD pairs and wait until next week to see if this entry is available.
Momentum shifting to the long side. Entry on retest of 80.0 stop below low and take profit @ 90.0
Move stop to b/e when price breaks swing high around 82.9
Ambitious trade idea hence very good risk reward. Expecting one more downward move, then looking for divergence around 100 area. If so this would offer great support and stop protection. Stop loss below 70 round number support & .618 retracement. Profit target just under 200 or trail the lows or both.
Entry an exit levels are shown on the chart. Technology always seems to advance faster than most people believe possible. I like companies that have impossible visions as far as technology advances go. For this reason it may be a good alternative idea to simply trail price on a weekly or monthly and allow for a larger long term move.
