[Trading Idea From #botje11]
*I went long at 6460 2 weeks ago because of the bear trap i predicted perfectly, but i did expect a bigger bounce than the 7500 but i took profit on the way up at 7330 and on the way down at 6850.
*Few days later i went long at 6560 (Friday) but because of that sudden drop 2 days ago most of my profit got burned, i got half out at 6950 and the rest at 6650.
*Yesterday i went long again at 6710 still expecting the same game plan og the Big whales. That is a big shake out of all the bears we have lately.
I telling you about these trades again, to show you that trading has to be a part of a bigger picture. The trend is clearly down so it is a risky trade, but my view is that we will have a short term trend change. I can't give away al my secrets, but some important signals that told me to go short in the 11kK's are telling me to go long now.
Many people are waiting for 4K prices and 5K prices to get in this market again, but markets never do the most obvious because that would mean many people would be making money now and that's just not possible. So we could IF we can push higher from here, short positions will start to close and turn into buys and depending on how high we go, it could trigger buyers on getting in again because of FOMO. A week ago i was convinced that this was part of the plan, so the big players will be able to unload again without pushing prices down at higher prices. Because this accumulation is taking so long now, i am having some doubts of how high we could go.
I have been giving targets of 7500/6000/4000 (just numbers guys) for a few months now and it is still my bigger plan, as long as we stay below the 10K, and actually below the 9400.
But markets move in waves, they only give massive crashes in a straight line if there is a catalyst that puts the fear in a market. We don't have one yet! There are allot of things wrong with this market, that's the reason we are in this bear market, but it's not an H&S that pushes a market down, NO. Fundamental facts push markets down.
I have been giving several Alt coins analysis a week ago (what i usually don't do here), but just look at them and you will get a sense of what the market is doing now. Some have already shown a real breakout of the short term down trend. Bitcoin 10.20% is still inside a big triangle, it has broken out from it but there is no real confirmation yet. That's why i say it's still inside of it. It's still bullish that we have made a successful retest of the resistance, and as i am writing this we are above the 6900 resistance, but i want to see price break above the 7200 resistance to have a first confirmation that we have broken out of the short term down trend
Problem for a day trader is, we could still drop towards the 6600 and maybe even make another small bear trap if we drop below the 6400/6500. I would still be buying if we get there. Only a break below the 6000 would really change my mind about this theory. I have my stop loss around my entry level now so it's already a free trade for me, if it goes through it will just wait and see what the price will do and for a signal to go long or short again...
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