Hello Crypto traders!
This is my first Steemit post, however I've been active on YouTube, Facebook and Instagram for several years now.
I just wanted to test out Steemit and share the BTC price action that myself and my crypto team are watching at this very moment. Currently, BTC is sitting at a very critical juncture. We have a neck line below that we don't want to see broken if the trend is to continue up quickly, we have the price action struggling to stay within the Bollinger Bands® (BB)and we have a confirmed lower swing top which was also a double top with the 3rd of September. For us, that's a lot of downside pressure. On the upside potential, we have seen the support levels hold so far and we still have some solid volume at play within a tightening price range which would suggest there's a strong battle going on between the bulls and the bears to regain direction.
This is all well and good, but what can we do with this? Pretty simple if you are prepared to wait for a signal. Here's what we are doing; we are waiting for a close on the 4hr bar outside of the BB to the downside to trigger a short trade (do not over-leverage yourself here as it is highly risky!), following stops close to the market in case of a quick reversal (bigger picture trend is still up of course). As for a long trade, we'd like to see the opposite happen to the upside, a close above the BB on the 4hr chart with the same rules for our stops.
It's short and sharp today; to the point. My intention is to keep these trading idea posts quick and to the point so you can apply the ideas yourself if you so wish to.
If you want to follow me in real time, you can catch me on Facebook (friend or follow me - Jason Pizzino) or on Instagram @ jason.pizzino. Make sure to say hi and that you found me on Steemit! I love hearing about this growing platform!
Feel free to leave your comments below and I'll get back to you ASAP! :)
Stay safe, use protection and happy trading!
Jason Pizzino
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