SHORTS AND LONGS, WHERE WHEN AND WHAT?
Updated
Hello friends!
Today we will discuss our plan for April and May.
We are waiting for several months ahead, where the whole further situation will be decided.
Let's start looking at Bitcoin
As you know from the previous idea, I am waiting for the close of the current weekly candle. If it closes without a long shadow (pinbar), then the current idea will be relevant. We open the short at $ 5600-5800, with a stop-loss of $ 6,200. At the level of $ 5600-5800 passes the strongest resistance in the form of the line MA 50.
Close short above support level $ 3,800. Support is the line MA 200.
After personally, I will wait and see how support will be held. If the weekly candle closes above it, I will open long at $ 3,600-3,800 with a stop loss of $ 3,400.
This strategy will not be relevant in two cases:
1. The current weekly candlestick will close with a long shadow and below $ 4900. Then a very bloody few months await us, with a bottom upgrade to $ 1,800.
2. Breaking as a support for MA 200. So guys we are not gambling, we always use stop-losses!
After a couple of hours, I will update this idea and show a great short opportunity on Litecoin
Subscribe to me, leave your comments.
Today we will discuss our plan for April and May.
We are waiting for several months ahead, where the whole further situation will be decided.
Let's start looking at Bitcoin
As you know from the previous idea, I am waiting for the close of the current weekly candle. If it closes without a long shadow (pinbar), then the current idea will be relevant. We open the short at $ 5600-5800, with a stop-loss of $ 6,200. At the level of $ 5600-5800 passes the strongest resistance in the form of the line MA 50.
Close short above support level $ 3,800. Support is the line MA 200.
After personally, I will wait and see how support will be held. If the weekly candle closes above it, I will open long at $ 3,600-3,800 with a stop loss of $ 3,400.
This strategy will not be relevant in two cases:
1. The current weekly candlestick will close with a long shadow and below $ 4900. Then a very bloody few months await us, with a bottom upgrade to $ 1,800.
2. Breaking as a support for MA 200. So guys we are not gambling, we always use stop-losses!
After a couple of hours, I will update this idea and show a great short opportunity on Litecoin
Subscribe to me, leave your comments.
Note
Let's start looking at Litecoin.
As you can see the comparison with the year 2015 perfectly similar to the current situation.
MA 200 has been successfully broken out and will be our support in the next.
The short open only after closing the weekly candle under the resistance level $110-115.
And after that open your short at $ 105-110, stop-loss $ 120, target $ 65-62.
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