BTCUSDLONGS trade ideas
BTCUSDSHORTSfinex shorts at a fairly key resistance but the longs arent down much at all, showing signs of reversal here up 1000% from the top and 500% from the march highs 200% on this recent down move..
longs only down around 7% though from the crazy increase in longs earlier this year
could be first sign of reeversal or we break out here i suppose
up 1000% from the top is fairly telling though imo, could be time to squeeze
BTC very nice Hello traders, I was really surprised to see the movement of Bitcoin. In the 4 years that I have been trading professionally, this is the first time I see this beautiful pattern. We see the formation of three harmonic patterns inside each other. bullish and two beautiful patterns of butterfly and bat inside the main pattern I have to tell you our main pattern is a completely bullish pattern bitcoin corrects itself inside the pattern at the same time a bear trap is created but I tell you the short positions will liquidate This is a correction where the bears are trying to use this opportunity to set up a bear trap but I'm telling you even if this triangle breaks down it will come back quickly.
The Last Dip For Bitcoin?Once again the MACD is converging with the BTC price looking to pump. Just before the dump the was a divergence. So I have put a long position on an certain pair 20X (Max because I'm a degenerate) the only leverage amount I ever do with bitcoin is 30x no less no more. I like 30. And I rarely run stop losses becuase I always get wicked out. If the chart looks like it's going to turn the other way I just get out and go with my signals and gut. I don't hold a trade in the red when it's going bad and hope for it to cone back, That won't work. Get out and go with flow. Ride that wave to profit beach and get of when your happy. You won't go broke taking small profits. Most of my trades are over 30% and I was in one yesterday with 270% profit.
Bitcoin Short DaysI mentioned briefly the other day how bitcoin would probably hit the $23200 area before coming back towards the upside. The wicked on the one hour was ten dollars lower than I predicted.
The one hour MACD looks like it is about to get a green dot while after it Converged with the price. The price was going down still after the dump while the signal line was coming up. Correlating with what I said I about how this could be the last wave of the acending wedge.
Stay sharp and good luck 👍
BTC X wave target (following fruition of my prior post)Still expecting a 5 wave structure to hopefully crash into the overhead resistance of a meme line.
Following my last post, we require the current 'wave 3' to finish then a wave 4 pullback.
BTC dominance looking poor so hopefully alts can far exceed and we can get that alt season we spent so long waiting for amirite?!
No timeframe has been harmed in the creation of this post (as none was analysed.. as per usual.. we've been over this.)
Macro Leading bearish broadening wedge in developmentAnnotations in the chart. Expecting price to move sideways and down until the end of August in which will probably coincide with the invasion of taiwan
Bear market rally will follow in the form of wave C of IV . Rally will look impulsive to trap usual retail fomo traders and WSB degenerates..
Then big NUKE by Oct- November
BITCOIN - Bullish Outlook and Expecting a BreakoutCPI report released today and a 0,2% expectation for the month vs 1,3% last week is expected to be a 'good result'.
Last week Btc intially dropped on high inflation before rising. Volatility is part of the 'game' and so it will be today as well.
In any acse my outlook is Bullish for reasons I have explained before.
Chart.
Middle of ascending channel is holding nicely as support. That means i am a buyer today, going Long.
Major news/fundamental:
Cathie Wood of ARK Invest Says BlackRock’s Entrance to Crypto Could More Than Double Price of Bitcoin
Wood also notes another Bitcoin metric indicates BTC could actually surge even higher.
“The illiquid supply, according to our estimates, is about 14 million out of the roughly… 18-19 million Bitcoin outstanding… And by our calculations, only three million units are truly liquid. And so the demand – if we were to see a $1 trillion increase in demand – then it would probably drive the price up much higher than the doubling that I just mentioned.”
One Love,
The FXPROFESSOR
Check my previous ideas on finding the BTC Bottom here: