This was fun, back down we go now :D

Updated

We went up - very much. This provided big or small (if you're bad like me) profits.
Now we touched the upper trendline from the falling wedge and rejected it. We might go test it again later, but right now we got a reversal candle on the daily, and are dropping very fast from that resistance.
I opened a margin short on ETH 1 hour ago on my secondary account on Kraken where I had a mere 700$ and I'm already at 160$ profit (Next bear market I'll start a 1k to 100 gran in a month challenge).
I have no target no nothing, this is just a general idea. You could open a short now and then it bounces and breaks the trendline.
I'm not going to try and catch that falling knife fk it, or maybe at 7k or somehting when everything is very oversold and I can make at least 5% near guarenteed.

Now what happens in 3-4 days? The trendline resistance that now acts as support is going to find itself at 6000$. If we are near that price 3 days from now we might very well see a double bottom, I will buy and update my double bottom idea (tradingview.com/chart/BTCUSD/OwN3dbtp-Bitcoin-Opportunity-of-a-lifetime-Too-good-to-be-true/). I still believe this is possible, if all the sign converge it will mean the prophecy is realizing itself and it will be an "amazing opportunity" (wink).
If this is what happens I'll probably get a visit from Men in Black asking me if I have mental powers or come from the future so I might disappear from this site.

===> No matter what happens now, nothing is certain, single individuals are moving the market ALOT, intentional or not. Haven't seen Bitcoin this random in a while - if ever. It's as risky as it gets.
We could even go to 4-5k but I'm not very convinced of that. The entity that appeared to me said we don't go lower than 6k I believe in the prophecy.
This is why I'll stay away a while, till we go really low, or a break above that resistance we just rejected is well confirmed.

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Bounced off the trendline since 6k for now:

Let's see if that line holds again, do we get a higher low and consolidation, or a lower low? If we lose that and accelerate to 10000 or 10300 I'll close my shorts and keep an eye on what high is next to re-open them.

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Line's being tested.

If we get to 9500 I close my shorts and go long no matter what, it's a strong level and a possible reversal area, I'd expect at least a juicy 5% here.
But of course we could also not go that low...
If we lose 9500 gogogo short it's going to drop fast (really lose that level not just test it).

Day trading is easier more consistent less risky more profitable as holding positions for days or weeks. I tried that, it really blows :/

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If we drop from the rising wedge and go below 10850 (low of the mother bar on the 1 hour inside candle formation) we could be on route to 10000-10100 which is the target of the bearish flag that has formed.

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Bleed bleed you bastard!
Going to close short go long around 10000 and see where this goes.

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Bounce on 0.382 retrace at 10450 I posted yesterday.
Hope it's just a small one. Should be...

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Let me guess, it's going to hit targets in 1 to 3 hours because that's about when I'll be away from a PC...
(10000 for BTC 800 for ETH)

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The price wants to break above the falling wedge, we might see a small rise, and then back down we go, down to the gutter where Bitcoin belongs :D

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Oh oh. On the edge of the cliff.

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Bounced relatively hard on 10200 but with little volume. I belie ve it's because of the oversold RSI (and the bots removing their limit orders or something).

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Ah not sure it goes much lower yet. maybe a little while before heading to 10k

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We had too much red we're going to get hours of green before droping again.
Probably when I am sleeping as usual.

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I'm only going to make a couple hundreds from my short.
Anyone know when all the brokers are going to start offering crypto (now that SEC are going to regulate it etc)? (Charles Schwab, Interactive Brokers, E-Shares etc)
Are Etoro and Avatrader decent? They look like shit. And gl with these market orders >1% spread....

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The big bounce I was expecting to happen slightly above 10.000 happened on 10200, so I'll wait for 9500 now unless we get a higher low or 10k ends up bouncing hard.
I'll close my short on ETH when BTC is around 9500-9800 and ETH 790-810.
I wish I was shorting big amounts, but since the reputable and regulated brokers don't offer this possibility, if I am to margin trade crypto I'm sure as hell not going to use big amounts.

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Why you reject MA(25) Bitcoin? You not like MA25 you no want to be friends?
You want to be friends with EMA(200) or no like him too? :(

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If the 4HR Rsi drops under 40 and we lose 200 ema that's going to be bad for the pulls. Possible panic selling till 9500.

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:DDDDDDDDDDDDDDDDDDD

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Gamble call: it goes up 3-4% where EMA200 happens to be, rejects it, and then down we go to 9800 at most, and probably 9500-9600. Wiiiiiii.

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Went up 2.816%. Close.
Goind to start closing short soon.
I'll spread my buy order 9500-9800 on Binance and Only buy low on Kraken where I'm margin trading, even if it's a small amount.

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Closed half my ETH shorts. Juicy juicy profits. Only a couple hundreds, but I only left a couple of hundreds on this meme exchange to short with.

I want to leave a significant amount, something like 5k, but no more because then this will happen "we closed our site for maintenance 5 days get f***d" "Ok we gave our engeneers the week end off fk u" "Oh the market moved against you, you now owe us 350.000$ good luck bro".

I don't really know what are good amounts to use for this kind of thing, and this info is nowhere once again I can figure it out for myself.

Google & cie are full of "how much can you make" "get started now" "how much do traders really make" "I made 9000 in one day" "wow million nice round number that gets gamblers and idiots excited" only... Nothing ever useful.

As if "only percentages matter" and you could trade penny stocks with 10 million per trade, or gold with 1000 (and no leverage).

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Stopped falling a bit because of too low RSI... Don't think it'll stay consolidated or green very long.

Trade active

New short position open, on BTC this time (still have 1/4 ETH left open since 905), chirp chirp alert activated ^.^.
Selling more if we go up to 10150-10200.

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Moved a bit after dipping, but not too much, got tighter, and now all consolidated in an inside candle with lower volume. Just ready to pop any moment.

Buy orders spread between 9450 and 9550, that's where I'll close my shorts too.
Sub 9400 I'll cut my losses and buy in the 9000-9200 region (hopefully it doesn't bounce on 9300)

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On the edge of a cliff... Wiiiiiiii?

Trade closed manually

Had to close shorts because we go up.
Tried to close when we went sub 9600 but once again I missed it and gave up alot of profit because I use a god awful site, the prices displayed in their bad interface were the wrong ones so my orders didn't get filled. Last time.
Going to have to check a couple of brokers that offer Bitcoin futures trading the way I want it...

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Wot Bitmex has no verification? -.-
Ok here we go then.

The next resistance for Bitcoin is around 10300 if I'm not mistaken, and the 200EMA (4HR) is there too. I have to go to work so I'll probably have to miss that one.

Trade closed manually

Closed last shorts a while ago at a small profit (pretty decent for the whole trade).

Trade active

Long since 9801.
Most buy orders were in the 9450 to 9550 area, playing it safe.
Maybe a bit too safe...

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Testing EMA50 and EMA200...

The 2 months falling wedge resistance is around 10800 now.

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Slowly getting there?
There's a risk we fall hard after rejecting the ema's.
I wouldn't recommend trading this to someone that doesn't know what they're doing lol.

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Binance went as low as 10224,33 so my order at 10225 got filled, pretty close.
Order below that didn't thought.
The blue line got higher so I'd have to move it up.
If we keep going up I'll set a stop loss later, after we broke 10300.

And for the next hours and day I see lines, lines everywhere!

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Soooo many noobs making tiny sell orders on Gdax panic selling that before it burns their hand. The buy wall is so damn huge. They'll be no one left to panic sell before that wall breaks.

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Buying more as we go down, let's see if it's a normal dip or if we really go down further.

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The 15 min RSI is sitting on 40 and the price stopped moving. The market is deciding if it wants to bounce now or keep going up.
If we go down I'll keep scaling in with my next order at 9900, if we go up I'll take profit off the bounce.
The market can decide whatever it wants idgaf I'll win either way so hf guys.

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I'm pretty sure we won't move for a while, probably go in an inside bar once again.
I see these scenarios:

1/ We don't go down sub 10000, target will be the downtrend resistance which we'll probably break and go to 11k+
2/ We dip to ~9800
2-a) Bounce here up to downtrend
2-b) Go down (after 2% bounce or so) to 9500
2-b-1/ Bounce on 9500 more than 5%
2-b-2/ Drop to ~9200 bounce > 7% ( So go to or above 10000 there).

Prepared for all scenarios.

I don't see anything out of this happening. Might be a 0.01% chance something else happens, so I'll be wrong once in my entire life big deal.
I don't perform great when we go up, but on the way down shorting and buying dips, I could do this my eyes closed.

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30 min inside candle wow didn't expect that one! XD

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4HR candle closing in an hour. I hope we don't move too much and close red. After 3 greens in a row I would be more confident we can keep going up test the downtrend if we get a red one.

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Scenario 2. My targets still 9800. Ill sell on the bounce to eliminate my risk, my avg buy should be 9900.

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Testing in progress

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Personal opinion:
We're going to go up from now to next week

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Next order at 9651

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Something we don't get to see often: an inside candle. 1HR TF.

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4 out of the 5 previous bullish hammers on the 4HR chart were followed by a nice move up. 1 hour till the new one closes.

Daily chart. This week end would determine alot, unless BTC sleeps all week end and then Monday-Thuesday decides everything

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Didn't mean to leave the personal note "Go 10300" here...

Trade closed: stop reached

-.-
0.1% profit got barely stopped...
Will buy back in a bit if we break 10220...
I'd prefer we go down and I buy lower...

Trade active

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Approaching a big buy zone for me AND the 1HR RSI is getting closeto oversold, juicy.
I'll buy on my main account, as well as on Poloniex with what I have there all I have pretty much, and send my secondary money to Bitmex so I can finally start shorting on a serious site, can't believe I didn't know of them.
Oooh oui.

MrRenev

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