Defense Area
This posting is a recap of few previous posting about crypto.
It started around 2 weeks ago:
Based on ema, ichimoku, chart pattern in 4hr frame,
I thought there might be a great chance(in terms of reward/risk ratio) of huge short position in this spot.
It did started drop 4hrs later.
However
Even if it was dropped as I predicted, the moving path was quite unexpected.
I thought it would drop directly to $9,250-9100 area (which was my short position target point).
But it tried to recover many times.
https://www.tradingview.com/chart/BTC.D/yNyiavQS-XBT-USD-Money-Flow/
(I don`t know reason, I cannot import one idea directly, please click link above to watch)
I tried to figure out what is going on,
In result, I find out some possibility of "going out momentum" from total crypto market based on crypto market cap, altcoin market cap, gold, silver, stock market.
So, I didn`t close short position. I was almost certain that I could extract little more value at least.
For confirmation, I set "breaking altcoin marketcap trendline" in this posting as major basis.
As we know, It finally failed breaking up 50ema in 4hr frame, and it was "last chance" as I mentioned in this posting.
I updated to 'just run away bro' in 27th Aug as final warnning
(or maybe opportunity for short traders like me, I hoped you have followed my advise and made some decent 15% profit from $11, 300 to $9,600 )
So, what are we gonna do?
Actually, nothing changed that much.
I am still waiting for the area $9,250-$9,100.
If I am wrong and btc suddenly spikes up, I would take profit at $9,950
If I am right and hit the area, we have to make really important decision at the area.
It started around 2 weeks ago:
Based on ema, ichimoku, chart pattern in 4hr frame,
I thought there might be a great chance(in terms of reward/risk ratio) of huge short position in this spot.
It did started drop 4hrs later.
However
Even if it was dropped as I predicted, the moving path was quite unexpected.
I thought it would drop directly to $9,250-9100 area (which was my short position target point).
But it tried to recover many times.
https://www.tradingview.com/chart/BTC.D/yNyiavQS-XBT-USD-Money-Flow/
(I don`t know reason, I cannot import one idea directly, please click link above to watch)
I tried to figure out what is going on,
In result, I find out some possibility of "going out momentum" from total crypto market based on crypto market cap, altcoin market cap, gold, silver, stock market.
So, I didn`t close short position. I was almost certain that I could extract little more value at least.
For confirmation, I set "breaking altcoin marketcap trendline" in this posting as major basis.
As we know, It finally failed breaking up 50ema in 4hr frame, and it was "last chance" as I mentioned in this posting.
I updated to 'just run away bro' in 27th Aug as final warnning
(or maybe opportunity for short traders like me, I hoped you have followed my advise and made some decent 15% profit from $11, 300 to $9,600 )
So, what are we gonna do?
Actually, nothing changed that much.
I am still waiting for the area $9,250-$9,100.
If I am wrong and btc suddenly spikes up, I would take profit at $9,950
If I am right and hit the area, we have to make really important decision at the area.
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.