Btceth
BitcoinSymbol: BTCUSD
Time to get aggressive.
She looking juicy.
Which way you wanna go?
Show me the money!!!!!! 🤑
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- Major League Trader
Bitcoin DominanceStock Symbol: BTC.D
Currently we are seeing a shift to the downside on a monthly time frame. Almost to a crossing point for a strong drop in dominance. Not quite there yet but I have been posting charts on this showing we would come down. If we can break down with strong distribution than we can look for an alt run.
Diversify and use 5% stoploss
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- Major League Trader
BitcoinStock Symbol: BTC
I see a lot of post of traders chasing the intraday moves. Let's zoom out and look at bitcoin from a monthly perspective with my setup. Currently we are seeing the same crossover to the downside as we did on 2017 top to come down. The thing with day trading is when the market hits hard overnight many tend to forget the outlook on overall market trends on large timeframes. Sure we have been pick up some steam coming up but let's not forget how fast the market dropped when the market crashed last. Chasing gains on small timeframes is cool if your consistent with winnings and cutting losses. But most I think fail as daytraders because they forgot to identify the higher timeframes. I'm a position trader I take in account to what the overall trend looks like. If you are constantly being beat in the day trading game and are sick of chasing it, than you should consider to move up In time. Trust me, when i started trading i was a day trader and i tried to capture every opportunity i could. Ultimately it never was consistent. I believe diversifying and finding the big shifts in markets is where the real money is made. Why scalp something when its geared for a major trend that you are fighting? The weekly on previous bitcoin post is still red even with the recovery we have had and is a at a critical price of indecision. One thing I like to take in strong considerations is, look how exhausted the alt coin market is. That is what is giving me fuel to btc maybe resuming upward momentum but we are really starting to see some serious accumulation process for alts. We dont control when the big boys show up to really move the market. Money inflow and outflow on a short term perspective can damage you quickly. I'm indecisive on bitcoin right now and I will follow up in a week to see how it is doing. But for the most part, I'm liking the alt coin market for accumulation.
Diversify and use 5% stoploss
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- Major League Trader
BitcoinStock Symbol: BTC
Proceed with caution, we are still not seeing a strong confirmation yet for a long term hold. Need more time to show what this chop wants to do.
Diversify and use 5% stoploss
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BitcoinI'm neutral on bitcoins next move. Notice how its forming indecisive doji on the weekly chart in the same range it played it's big move down to 3k in the green range history. Key level for entries is to buy the breakouts out of this zone. I think it will be a strong move when it happens. / buy deeponion
BTC/USD TA Update (bullish short-term pattern?)BTC/USD
Bitcoin is holding strong the price range between 5200-5400 zone and looks to be forming a bullish ascending triangle
as the price keeps making a series of higher lows. BTC just had a bullish MA cross of 50 & 100 moving averages on the 1H time-frame.
This signal short-term shift in momentum to the upside but still not confirm until immediate resistance at 5500 areas is broken.
If Bitcoin can confirm a bullish breakout in the coming few days. The upside target is between 0.5-0.618 fib resistance or 6k-6.5k zone.
When most indicators show extreme fear and oversold conditions we likely see a relief temporary bounce.
Bearish side, if BTC closes below 5k this will invalidate upside scenario.
BTCUSD - Uncertain situationWell, I am really not sure what is going to happen the next days.
The BTC indicators I am currently seeing are:
- Fear and Greed Indicator is very low and 5-10 levels normally is a good buying opportunity
- Bitcoin on Google Trends is rising very fast, which could potentially mean a rising interest
- If we keep that level, this could be the biggest triangle and continuation I have ever seen. For that reason, I will keep my leveraged long open, just in case we skyrocket in seconds.
- Having lost important EMAs, we could as well be in a bigger bearish channel or something similar, that's why I'm saying that I really don't know which side to take position on.
- The 1h chart is contracting, which let's me believe, that there is going to be some action very very soon.
Overall market signals that I see:
- Not just stock markets have lost value, so did Gold. Which leads me to think that an economic crisis is on it's way. These would not end well for Bitcoin either.
- The inverted yield curve (cross from 2 year and 10 year treasury bonds) triggered already, which historically has always been the start of a recession.
- I expect certain markets such as DJI to recover a bit (maybe to 23500) and this could push us back up for a while. On the other hand, I don't believe in it too much, because COVID-19 is not yet over and this negates the pull-back IMO.
- The altcoin market has the potential to drop to 14B, which would be another 65% drop or around 40B of lost money.
If COVID-19 is not rapidly gone from mother earth or at least made treatable, markets are going to bleed more and more till the day we manage it.
It is probably better to stay on the sideline with bigger positions.