Bitcoin. Just don't long it. "Miss out".
Updated
Warriors!
Look, there's nothing holding BTC anymore.
No moving average, no trendline. If it breaks out of consolidation it has been in for months, which can happen easy after we lose WMA50, it won't take the elevator down, it will take the window down.
I'm going to tell you how I will do it, I will go long BUT first I will only start at maybe 6700, and really small on Kraken where I have a short 2 months old, I will close that and go long really small. And then add every 5-10% maybe. Let's say every 7.5%.
For example start with $1000 on 6700, then add $1000 on 6200, so the avg entry is 6450 $2000, then add $2000 on 5950. Then go to 5600 which is about where Monthly MA20 is and it might hold, add $5000. Something like this, just a random example.
Why I can go long without worrying too much is I have a short insurance which I will just keep open forever on Bitmex. I wish I had a bigger position, but it is fine.
I added $250 yesterday at 7600 lol, very non-warrior.
Shorting will be much more interesting here.
Just look at the daily and weekly MA's above us, they are safety cushions, if and when we go back up to test WMA50 as resistance, that will be a great short entry, I will double or more my short insurance on mex and I will open an intraday and/or intraweek short on Kraken.
If you hold a let's say 10 gran short from the top, you're safe to go long for 5 grans trying to get some money off bounces, if it just falls straight down and you're at a loss on your long, your insurance is here to give you your money back :)
I expect a bounce somewhere in the 5800-6800 region, could be above, but it really has no safety cushion so watch out.
The first support would be WEMA 100 (at 5500$), which has been reactive in the past.
And it looks like that fractal I posted a while ago might actually get followed, at least at the start.
Looking at it closer:
Yeah I think 5500 at least will hold, and if it falls that much it will bounce harder.
If you have a short hedge you can go long with no safety net and ride your loser till 5500 np :)
I wouldn't consider going long before 6800 perhaps thought. Better miss out than buy too high with nothing holding it, it's just dumb. Or gambling.
Cool thing is at these levels that are interesting to long, there are also some fibs! Magical!
That means going long at 5500 4900-5000 & 4200-4600 is rather "safe".
Also, go long on that trendline, but what is the price going to be by the time we reach it if we ever do? Going long before any real support is suicide.
Look, there's nothing holding BTC anymore.
No moving average, no trendline. If it breaks out of consolidation it has been in for months, which can happen easy after we lose WMA50, it won't take the elevator down, it will take the window down.
I'm going to tell you how I will do it, I will go long BUT first I will only start at maybe 6700, and really small on Kraken where I have a short 2 months old, I will close that and go long really small. And then add every 5-10% maybe. Let's say every 7.5%.
For example start with $1000 on 6700, then add $1000 on 6200, so the avg entry is 6450 $2000, then add $2000 on 5950. Then go to 5600 which is about where Monthly MA20 is and it might hold, add $5000. Something like this, just a random example.
Why I can go long without worrying too much is I have a short insurance which I will just keep open forever on Bitmex. I wish I had a bigger position, but it is fine.
I added $250 yesterday at 7600 lol, very non-warrior.
Shorting will be much more interesting here.
Just look at the daily and weekly MA's above us, they are safety cushions, if and when we go back up to test WMA50 as resistance, that will be a great short entry, I will double or more my short insurance on mex and I will open an intraday and/or intraweek short on Kraken.
If you hold a let's say 10 gran short from the top, you're safe to go long for 5 grans trying to get some money off bounces, if it just falls straight down and you're at a loss on your long, your insurance is here to give you your money back :)
I expect a bounce somewhere in the 5800-6800 region, could be above, but it really has no safety cushion so watch out.
The first support would be WEMA 100 (at 5500$), which has been reactive in the past.
And it looks like that fractal I posted a while ago might actually get followed, at least at the start.
Looking at it closer:
Yeah I think 5500 at least will hold, and if it falls that much it will bounce harder.
If you have a short hedge you can go long with no safety net and ride your loser till 5500 np :)
I wouldn't consider going long before 6800 perhaps thought. Better miss out than buy too high with nothing holding it, it's just dumb. Or gambling.
Cool thing is at these levels that are interesting to long, there are also some fibs! Magical!
That means going long at 5500 4900-5000 & 4200-4600 is rather "safe".
Also, go long on that trendline, but what is the price going to be by the time we reach it if we ever do? Going long before any real support is suicide.
Note
They laughed at me when I said Bitcoin price was being manipulated...bloomberg.com/news/articles/2018-05-24/bitcoin-manipulation-is-said-to-be-focus-of-u-s-criminal-probe
"Martians I tell you Dey r manipulating price :joy:" - ForexDreams.
Note
Screw it I added 50% to my life insurance. My short entry is now 7993.Shorting at the bottom but whateeever.
Just to be safe if we go down, and if we go up, well whatever.
Note
What I'm hoping to see.
But now maybe Bitcoin stops acting so predictable.
Since... you know...
The ones manipulating the price are going to jail XD
Maybe they can manipulate packs of cigarettes so their boyfriend doesn't beat them once there :>
Note
If we go in the pink eeem circle, that whole area is good to short. All 7950-9000$.I doubt we even get to 7950 tbh. But let's see. It's not summer yet, we can go up.
Is someone going to manipulate the price now that he's facing jail? XD
No more evil plans I guess rofl.
Note
This is all good I hope, Bitcoin is going to offer us a spot to short it.The higher it goes the most I will short.
Right now I used 25% of my mex account to short with 15 leverage, with an entry at 7993$.
If Bitcoin is nice and retraces up to that area showed below (DMA50@8450 btw), short more the higher it goes. Maybe reduce position on retrace down if it goes up too much. Can start as low as 7800 if you feel adventurous, or wait for 7950 minimum, or even higher, whatever.:
Note
Made these drawings in chat. Never waste a good work.And now with weeklys, same story:
Note
Can be longed on 6750. Fundse are safee.Note
Never breaks without being tested first... Funds are safe.Note
MA's cross in 760...759...758...
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