MichaelWang66

MichaelWang66 Updated 

BTC is retesting the trend line, now as resistance. It's also about to touch 12H EMA36 (as resistance), which historically, takes more than once to break through. So BTC is on critical area to decide we have strong or week bounce. Remember it's still on daily down trend, and we have a long way from recent high (10,500). Overall, I am looking for signs of the top...

MichaelWang66

Bitcoin drop over 8% in one day, touched 36 daily moving average. What to expect next? The 36 moving average is what used in momentum structure analysis (indicator below). In 2019 rally, BTC pullback 15.4% to 36MA in June, spent 12 days in that range, and then bull break. This time, it only pullback 8.78%, which I think would spend less time in the range. So my...

MichaelWang66 Updated 

Possible head and shoulder pattern, if confirmed, looking for 4H/Daily consolidation.

MichaelWang66

In this obvious euphoria crypto market, it seems almost everything is pumping, and it becomes very hard to pick which crypto to long. There are, laggers, who was rising, but not as hard as everybody else. Check out last 7 day performance: BTC 13% ETH 33% XRP *8%* BCH 26% BSV 38% EOS 29% LTC *17%* BNB 42% XTZ 72% ADA *16%* (Source: www.coingecko.com) I picked up...

MichaelWang66 Updated 

Let's try shorting once again. XTZ is long way from moving averages (1D EMA12/26), and RSI close 80. Yes, it's in daily up trend, but even bull needs breath, I am trying to take advantage of the breathing. Entry: ~2.2 Stop: 2.4 Target: 1D EMA12/26. PS: playing short when entire crypto space is moving up is dangerous, DO NOT do this if you don't know what is...

MichaelWang66 Updated 

In crypto people talking about shitcoins, referring to 99% of alt-coins. I couldn't agree more. Most projects just are not cut out to survive as cutting edge blockchain tech startup, many don't even trying to. Although I do believe there are still rare pearls out there, waiting to be discovered. I've been following the Harmony-One project since it's listed on...

MichaelWang66 Updated 

Waiting on daily EMA12/26, currently around 9,000 and 8,660. Stop lose would be previous higher low: 8,250. Target 9,600 - 9,700.

MichaelWang66 Updated 

BTC is on daily up trend, with 3 trend lines I can see: 1. The most important trend line (black) starting from 2019/12/18. 2. Second trend line (blue) connecting 1/3 to 1/26. 3. Recent trend line (green) BTC is holding on. Here's how I see this play out: 1. If green line holds, we can see another pump. 2. If green line breaks, retest blue line. > 2-1. Blue line...

MichaelWang66 Updated 

4H EMA12/26 golden crossed, that's my signal to buy long. Waiting for pull back to moving averages, to establish my position.

MichaelWang66 Updated 

4H EMA12/26 are in down trend. Entry: 8,500, 8,550 Stop: 8,755, 8,825 Target: 8,245 Yesterday I learned my lesson by trading against the trend, try to bottom fishing from 8,570 down to 8,400. All stop out at 8,240... I was doing bottom fishing because on past 3 weeks, every 4H pull back is a long opportunity. So I think this pull back is another long opportunity...

MichaelWang66 Updated 

Since Jan. 2020, Bitcoin's 4H 12EMA action is: 1. One big up trend. 2. Followed by short down trend. 3. Followed by big up trend. Now it's been side way for two days, and we see another up trend started. I won't rush in long position though, I want to see clear evidence of up trend, which means: higher low and higher high in 4H time frame. This way, I may missed...

MichaelWang66 Updated 

One big candle down, pure crypto style. BTC is now on 4H down trend, waiting for bounce to 26EMA / 12EMA for short position entry.

MichaelWang66 Updated 

People say BCH is under 'Halving Rally', I don't know, I don't care. I just know after BTC pull back this morning, BCH goes up, meaning big money still interested in BCH. So I decided to open long position: Entry: 354 Stop: 338 Target: 373 When target reached, I will sell half position and leave other half keeps riding the 4H up trend.

MichaelWang66 Updated 

This morning BTC touched 9,198 then pull back to 9K psychological and held. An obvious continuation of 4H up trend, so I reloaded my long position, and hoping to ride the trend up: Entry: 9,071 Stop: 8,750 Target: 9,445

MichaelWang66 Updated 

This is an aggressive trade, before I confirm 4H 12EMA up trend is over, I opened short position: Entry: 8,656 Stop: 8,820 Target: Daily 12EMA or 4H 12EMA down trend over. Again, POSITION SIZING always comes first (only risk 10% of my balance each trade). My goal is keep trading, not get rich fast.

MichaelWang66 Updated 

Here comes solid bounce, let's see how far this can go. Entry: 7,968 Stop lostt: 7,674

MichaelWang66 Updated 

Resistance 280 is confirmed (once). Sitting on hourly support. Entry: First position when break hourly support. Second position when break 4H 12EMA. Stop loss: break above 280. Target: daily 12EMA (around 240).

MichaelWang66 Updated 

Entry: around 8K. Stop loss: 8,300 Target: 4H 12EMA goes up again. Notice: stop position in this trade is especially important. BTC could hit another surge on any news about conflict between US and Iran.