LONG
-Historic Support/Resistance
-demand zone
-Falling Wedge- BULLish signal
-Approaching Downtrend line
-Almost Full Fibonacci Retracement
-Elliot Triangle Correction Wave complete ABCDE
-or more simplified - Elliot Correction WAVE ABC complete
-BULLish divergence RSI
-BULLish divergence MACD
-BULLish divergence Stochastic
-BULL volume on breakouts
- end of downtrend first indicated by higher lows and tightening range
Notice the extreme volume behind the two breakout attempts. Volume= shares changed hands over a given time. This gives an insight to the emotion behind the movement. Super high volume-my guess- intense FOMO and buying breakout, followed by nervous selling as profit started being taken. Either way trying to breakout and a lot of emotion behind the move/this coin.
more pros
-Fundamentals- working product
-Risk: Reward - All time HIGH TP = >700%
-Top 50 coins
Conservative entry- wait for downtrend line breakout
-Historic Support/Resistance
-demand zone
-Falling Wedge- BULLish signal
-Approaching Downtrend line
-Almost Full Fibonacci Retracement
-Elliot Triangle Correction Wave complete ABCDE
-or more simplified - Elliot Correction WAVE ABC complete
-BULLish divergence RSI
-BULLish divergence MACD
-BULLish divergence Stochastic
-BULL volume on breakouts
- end of downtrend first indicated by higher lows and tightening range
Notice the extreme volume behind the two breakout attempts. Volume= shares changed hands over a given time. This gives an insight to the emotion behind the movement. Super high volume-my guess- intense FOMO and buying breakout, followed by nervous selling as profit started being taken. Either way trying to breakout and a lot of emotion behind the move/this coin.
more pros
-Fundamentals- working product
-Risk: Reward - All time HIGH TP = >700%
-Top 50 coins
Conservative entry- wait for downtrend line breakout
Trade active
Entry $1.026Trade closed: target reached
Booked profit on all mid to long term HODLI'll be cash for BTC Futures.
I am not sure what will happen as lots of hype in both directions. What I do notice thou, is the public is rushing in to buying BTC as fast as possible during an emotional Elliot Wave 5. FOMO. Sheep follow the masses and sheep get slaughtered. Buy low and Sell high, not buy at the ATH. Professionals= anticipate. Amateurs/Public= React.
When random second tier friends are ringing your phone off the hook about BTC, probably time to book profits. If wrong just buy back in on December 11.
BTW I am extremely BULLish on BTC and cryptocurrency but will be safe on the sidelines for this potential bump in the road.
Note
Reviewing my trades from today- and reread my latest ideas. That as not a very nice last post. Sorry guys.I shouldn't of said that- "random second tier friends". I have been getting called the last few days by people I don't know who got my number somehow- I am very happy to help, if I have the time.
But it does signal that the public has entered the market. And we are def in the markup phase. This will be followed by distribution. Wall street has made much of its money for doing the opposite of the masses. Wall Street enters the market December 10.
good luck sorry again
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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.