The gap at the 11900 has been successfully filled today. We can now say we have one more gap at the 13k+ price to fill all gap down.
https://www.tradingview.com/x/H6D5Hh6I/
The gap is filled
https://www.tradingview.com/x/i9OEC8xw/
We also have gaps at the 11k+ prices. This means we are probabilistic bond to revisit those prices at some point
https://www.tradingview.com/x/PiJ2NLOs/
This is my entry for the 100DAYSOFTA challenge, Wednesday 5th August 2020.
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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
ST long on the 4hrs is something we should always watch out for. This has the maximum return with less stress. However, other TF are good too, if one can manage it very well. BTC has been going fairly up in the past days and It doesn't look like it will stop. AFter the sudden dump, the strength is back. Willy is also overbought region which means it may start giving us some divergences. These affect the next correction in price.
https://www.tradingview.com/x/EyuVZK5N/
1h
ST acted as a good support here and it is so interesting to see that the prices have performed well. The ST is long with invalidation at 11100USD. This is also joined with the overbought of Willy. This means we have prices extending in this new trend if Willy keeps on with the momentum and not correcting drastically. The best thing to do right now is to get a good entry and follow the trend until the end.
https://www.tradingview.com/x/ABY9Qy67/
30 mins
The price on 30 min chart is now in an uptrend as the ST has flipped to Long. This means we should be looking for a dump to long. We are better placed if we buy close to the ST support than right now. The risk to reward will be lower. Willy is overbought and it may either correct or just continue to extend. This is what we should be clear about as the price action continues.
https://www.tradingview.com/x/5Wg5EdsT/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/eqkZIJGK/
https://www.tradingview.com/x/ghU53Rau/
Summary:
4hrs ST is long
1hr ST is long
30 mins ST is long
My Position
Flat.