BTC Going to Bikini Bottom by the end of this month.
Updated
No doubts the monthly is going sideway (in a range) and the weekly, daily, and hourly are going down a channel, so what opportunities avail? We have a chance to get cheap BTC as it is going down the channel: this is a waiting game for those who missed the 9K on the previous drop as we will reach the buy zone by 01/23/2018 and will probably stay in until the beginning of February depending on volume. Here is my game plan:
+ My big boy is the 4-hour chart, but my one hour is giving me more details on support:
https://www.tradingview.com/x/QbcGgwgS/
1. Lightning Network (LN) usage is growing based on the transaction percentage http://segwit.party/charts/
2. Mempool is slowly clearing and transactions are getting cheaper https://tradeblock.com/bitcoin
3. Wall Street wants cheap coins
4. We are somewhere in the bubble phases between Denial and Fear... http://thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg
5. Weak support under $9,500
My Trading Plan
+ Watch Support 1 and redraw trend line when going down, check volume increase/decrease
+ Watch Support 2 to be dismissed (old support from previous dip)
+ Already set my buys at $7777.77
+ Wait for the bounce as old supports will now become resistance unless volume 2x, 3x or 4x (40M to 80M)
+ During pull backs will Hodl 75% and scalp with the remaining for the following money spots on the way up [Buyers market]:
R1: sell at $9,400, then buy at $8,500
R2: Sell at $10,350, then buy at $9,500
R3: Sell at $11,700, then buy at $10,700
R4: Sell at $12,770, then buy at $11,750
R5: Sell at $14,000, then buy at $13,000
Set stop loss at
13K for all my coins
*** these are approximation as it will heavily depends on market sentiments & volume, but will have the general behavior.
Good trading.
+ My big boy is the 4-hour chart, but my one hour is giving me more details on support:
https://www.tradingview.com/x/QbcGgwgS/
1. Lightning Network (LN) usage is growing based on the transaction percentage http://segwit.party/charts/
2. Mempool is slowly clearing and transactions are getting cheaper https://tradeblock.com/bitcoin
3. Wall Street wants cheap coins
4. We are somewhere in the bubble phases between Denial and Fear... http://thereformedbroker.com/wp-content/uploads/2011/06/bubble-phases.jpg
5. Weak support under $9,500
My Trading Plan
+ Watch Support 1 and redraw trend line when going down, check volume increase/decrease
+ Watch Support 2 to be dismissed (old support from previous dip)
+ Already set my buys at $7777.77
+ Wait for the bounce as old supports will now become resistance unless volume 2x, 3x or 4x (40M to 80M)
+ During pull backs will Hodl 75% and scalp with the remaining for the following money spots on the way up [Buyers market]:
R1: sell at $9,400, then buy at $8,500
R2: Sell at $10,350, then buy at $9,500
R3: Sell at $11,700, then buy at $10,700
R4: Sell at $12,770, then buy at $11,750
R5: Sell at $14,000, then buy at $13,000
Set stop loss at
13K for all my coins*** these are approximation as it will heavily depends on market sentiments & volume, but will have the general behavior.
Good trading.
Note
Looking at what comes next after this bubble correction: it looks we will not see 100K BTC until next year. Here is my extrapolation based on a weekly corrected curb that follows the 25 MA - which is what has been driving us thus far on this scale per this chart Note
Support 1 at $10355 is now Resistance as it tried to poke through twice. We are going down and expect to reach my target by the end of the weekNote
Too quick to draw: Support 1 is still alive, but resistance at 11700Trade closed: target reached
Bought @ $7777.77 WATCH OUT - it is going down further as market cap is disappearing. see my next TA (Deja Vu).
Good trading
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