BitcoinLong
BTC Long
Updated
Opening a BTC long at support area. Entry @ 6565.99
Point and Figure i.imgur.com/mlZSaHH.png We have a new small column of X's confirm at yesterday's close. The long pole of X's from July 18 has been resolved. That means we have no long poles going all the way back to October 2017. That is almost a year of consolidation.
We are very close to Support Levels
These are support levels I've been talking about a few weeks worth of past posts. Proper support is about $6,750. We are very close to it here.
This support area is made of these:
volume node (purple) 6630-6760.
original break out of inverse H&S (teal) 6770- we've touched down on this:
23% fib 6760.
long pole resolution <6900.
wyckoff throwback: 6753
This support level could push us up to 9k-10k where there is strong resistance. From there the market will decide to push us back down to support at 4.3k (likely) or will break up out of 10k (exciting).
We had a 4 part bull div on the 4 hour RSI recently.
It played out for 2 periods, but now looks like something of a rejection of that, as we are close to new lows now against the lowest 4 hour close. I'd watch for a touchdown on that proper support at $6,750 before taking a long.
Point and Figure i.imgur.com/mlZSaHH.png We have a new small column of X's confirm at yesterday's close. The long pole of X's from July 18 has been resolved. That means we have no long poles going all the way back to October 2017. That is almost a year of consolidation.
We are very close to Support Levels
This support area is made of these:
volume node (purple) 6630-6760.
original break out of inverse H&S (teal) 6770- we've touched down on this:
23% fib 6760.
long pole resolution <6900.
wyckoff throwback: 6753
This support level could push us up to 9k-10k where there is strong resistance. From there the market will decide to push us back down to support at 4.3k (likely) or will break up out of 10k (exciting).
We had a 4 part bull div on the 4 hour RSI recently.
Note
This position is still partially open (stop loss was spread)Trade closed: target reached
close my long on the 3 day at 5,242Note
oh actually no this is a really old trade i dont know where it got stopped out now
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.