Close all my longs! Dangerous, but I expect a correctionHello dear friends!
Congratulations to each of you on your profitable trading who appreciated my previous post!
For the time being, I close all my long positions and open short, up to levels like 13500-14500k for one bitcoin .
You can throw tomatoes at me - but this is my choice, and I know why I chose this position!
First of all this - is the bitcoin price movement - up-29/down-13
Secondly: The overweight of long positions, which just rolls over!
Thirdly - I want to write to you that there is a new margin on bitcoin .
It is a record high.
Now the margin is $ 1225 or 1225 points. Most likely, the price will be pulled to 100% of the margin, namely 18600 - 18850.
4) is a set of short positions on the CME , which have never been so actively included in such a volume!
and 5 - next week will be red !!!
Otherwise, those who are looking for sales, it is important for you that the instrument closes below 50% of the margin (17950), and only then will it be possible to lower it to 17250 - 17150.
Shortbitcoin
Analysis - BTC/USDHey
The weekend ran calmly, the market is rather dull in general.
There is a small rebound on Bitcoin, nothing remarkable, everything is within the current flat trend.
Analysing the market situation, we are more inclined to think that the market will be shaken again.
More precisely it will be quickly shaken out. 3D timeframe’s short was confirmed by ATS yesterday.
There are 7 out of 8 similar signals turned out to be correct over the past three years.
We expect Bitcoin around $9000 and ETH around $280.
BTC to $5300 by end of year - Start SavingNo matter what, BTC will backtest this formation. If it fails that backtest, which I suspect it will, we will test lower bound of the pennant. $5300 by end of year.
Short back to trendline backtest ... make sure the leverage is small and set a stop within your pain threshold, btc is awake. At trendline, straddle (insure or hedge your short).
If wrong, oh no 🥺 ...if right, oh boi 🤑.
Check long short ratio
Note economic and social situation facing the usa (not the bs pump but the millions of people who cannot afford a place to live in the middle of a pandemic. While the people fight the virus, the state is fighting the people.)
Check that crypto to equities market correlation - that's right, never was an "uncorrelated, asymmetric asset" .. but that sure sounded good
Ask yourself why precious metals are ripping
Check the lack of liquidity in equities
tl;dr - We melt into the dead of winter and if you have the cash you BTFD
SHORT RESISTENCESI drawing short position resistance.
I create a Fibonacci and drawing down and upper trend line. I think Bitcoin will be rise but we know the bitcoin and the price of bitcoin most of time is not certain. Only I want to draw short resistances.
The alternative long position graph is here, you can look at this URL
Bitcoin short to 9k and possibly below, Good RR ratio Strong rejections from 10k region with the minimum support levels decreasing.
The grip that bulls have on the situation is visibly weakening. Massive shooting star on the 3d, very rare to this kind of rejection not followed by a sharp price decrease.
Good risk to reward ratio, over 3:1. Targeting 8600 with stops placed around 10k.
BITCOIN - BEAR FLAG - SHORT or LONG? Good Day Traders!
Congrats to those who made money following our calls! 💰💰💰
Simply following us and we will get you guys our latest updates FOR FREE! Go to the link below & hit the " FOLLOW " button right now !
👉 www.tradingview.com
👉 www.tradingview.com
👉 www.tradingview.com
Our Bitcoin setup:
Rules:
1. SHORT ONLY when price touches the white box.
2. SHORT ONLY when the price break down the channel.
3. DO NOTHING when above #1 & #2 are not met.
TP below level near 3300
CL above level closed above 8300
RR > 5
Follow us Rule_no1 and get latest FREE updates !
PART I Getting in the Game.
RULE #1 Know Your Game.
RULE #2 Have a Trading Plan.
RULE #3 Think in Terms of Probabilities.
RULE #4 Know Your Time Frame.
DISCLAIMER: There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Trade at your own risk.
#Bitcoin - #BTC short to longI wanted to publish the idea but being Busy lately wasn't able to, I did share the short trade on telegram & we have been able to catch almost the top :D
for now, I feel we can retest 99xx levels, if you see good rejection then you can enter short position & ride it till the last leg
you can also use Leverage on Bitmex or bybit to multiply your profits but remember Leverage Trading is HIGH RISK So is Crypto trading & that's why I am legally obliged to say
#DYOR
remember I am not a financial advisor & this are all just my thoughts :)
make sure to leave a comment & if you agree then hit that thumbs up
Do not forget to check out other ideas & do share it with your friends :)
Where to #Short #Bitcoin?I am currently on a holiday & hence less active, this is what I am seeing right now on charts a possible Bullish Bat forming,
7525$ - we need to have good rejection on 4hr as well as daily time frames for this to work out.
I am looking at possible inverse head & shoulder on daily & I am currently long from 7191, I am looking to close 50% around 749x rest if we see a good breakout from 7525 I will let it ride for higher targets mentioned on charts
another pattern I am looking at is a possible double top on the daily time frame, As you can see on the chart volume has been going down significantly, it was expected with this holiday season, So we can expect that a BIG Volume candle will come soon enough
as you can see 752x is an important level on the charts I will advise you to be patient & wait for some candle closes around those level before entering in any new trade, if you look at history January & February are the months where bitcoin has been setting it's YEARLY LOW so it is fairly possible that we will see a new Low in coming months before seeing good rally upwards, I am bullish on bitcoin for the year of 2020, we are slowly falling into accumulation phase, if you have been following me long enough you might remember this charts
as always #DYOR
remember I am not a financial advisor & this are all just my thoughts :)