Possible convergence of weekly and daily 200ema plus previous support/resistance.
Just under previous low from 2015 a stop loss. About to hit trendline for long
Could be double top at all time highs. There's some divergence. If it plays out this would also be a false breakout from three bar triangle on the daily chart... so would be looking for at least a measured move below the highlighted consolidation.
Looking to go long on this upcoming restest but if price breaks through the monthly 200ema will look for retest on the other side to go short. My broker doesn't have enough data to show the monthly so I have marked it there in the blueish green thick ray line there.
I'll be looking for a short bounce of the monthly ema (my broker doesn't have enough data to show it by I have marked it for you --the blueish green line there). If price breaks through I'll be looking for a restest back to that ema and go long. the ema also happens to line up with lots of previous resistance.
Waiting for price to bounce off weekly 200ema. Will not wait for any kind of retest. Stop loss just under previous support below. Hoping to get bounce up to 4 hour ema.
I think there's going to be some old orders sitting there at between 0.08 and 0.10 that the market is going to come and grab before heading back up to take profit at about 0.34. Also 0.10 is a psychological round number. PLUS the weekly 200ema may converge. I am not a professional trader just a few years of practice so far.
Price bounced off a weekly level back in mid February. Making lower highs along a trendline thereafter. Price may break below the daily support in orange and head toward another daily support in white.
We'll see what happens. I am holding a small amount of bitcoin right now. Generally I'm trading forex on the daily chart but have been watching btc lately. I am very new to ANY type of crypto and it's way different than forex. I'm watching intraday to see what's happening right now because if I see this go up I'm taking any profit early and quick..... I think.
This would be the longest trade I've ever tried to wait on. We'll see what happens. I am not a professional so don't take this trade. This trade could take three months.... probably wayyyy beyond my patience level anyway.
Forgot to post this earlier. I am papertrading. Took a short trade on GBP CAD at 1.7266. I'm trying to find one good exit indicatoror a combination that's why my screen is loaded up with emas. I intend to take half profit at 1.71486.
take half profit at .66256 I am papertrading not using real money :)
take half profit at .70290 I am papertrading not using real money :)