BoJackBTC

BoJackBTC

Does it make sense to stop here? Have you been following social media, and how the crypto universe is back at the spotlight at mainstream vehicles? Enter BitMEX, crank up that leverage, go long and take a vacation. Come back to enjoy your gains. **This is not financial advice.

BoJackBTC

:)

BoJackBTC

We're currently at a big resistance level - right under the daily Kijun line. As you can see marked in my chart, it acted as a strong support during the bullrun, and when we brok down for it, it turned into a pretty strong resistance. I'd not be longing here. The risk/reward ratio is not very good. A clean break through it could sent us right into the 10,000 mark...

BoJackBTC Updated 

As you can see on the daily BTC/USD chart, the Kijun line acted as support and, after being breached, started acting as a heavy resistance line to the price of BTC, rejecting a possible move up everytime it was close to it. Watching for a possible retest of the Kijun line if we get closer to 9,000. Might be a good short set-up if rejection happens!

BoJackBTC

Pretty clear that after a distribution phase and, later, an accumulation phase, STORM is currently doing it's test pump for another big rally. I'm holding this at least until we test old ATH.

BoJackBTC

It really doesn't get easier to spot a top than this, lol.

BoJackBTC

Here's what I'm seeing.

BoJackBTC Updated 

Unless we retest the liquidity zone support, like we did a couple of days ago before shooting to 8,400, it's better to stay neutral. A retest and bounce from the support area will show strenght and form a good set-up for a long position.

BoJackBTC

Each orange flag means a bearish reversal in price action, showing it's very likely we're going down. In this 12 hour chart, check how many times that flag was wrong - yep, just once. It nailed it in all other times. I'm building a sizeable short position and plan on defending it until 8,300.

BoJackBTC

My game plan for the next few moves: short blue box, long green box. Stops for shorting @ ~8,200; for longs, @ ~7,550.