Here are my LONG and SHORT setups. With Risk/Reward and stop losses.
I'm not doing any day/swing trading atm, only long term hodl positions. However wanted to play with this momentum swing trade setup, based using Heikin Ashi candles... and waiting for this over sold bounce on the daily. I admit, not the best risk/reward at 1.58, but let's see what happens... missing some trading fun.
Watch this breakdown play out on the 15minute and more vividly on the 5minute, where you can see support clearly turn into rejection. Top pink line $4975 is Tone Vayes 1st support, $4445.99 is the next biggest VPVR support I see, and we are so close to that and the downward momentum is like a fireball comet heading towards it. Next support to test is...
Nice bounce for Bitcoin, bears have been exhausted, at least for the short term. Watching for the most likely break upwards... on ETH however the Bull Pennant has failed on the 1H. Watch for the break then resistance -> support, or support -> resistance candle for the safest action.
On the Daily and Weekly, the BTC price has broken down on the descending triangle. We've all been waiting for this for weeks now, the catalyst as everyone knows by now is the pointless BCH civil war, between Faketoshi, Calvin Arye and Jihan Wu, Roger Ver. Stop losses and and resumption of the break market environment is the cause for further continuation...
We're squeezed down very tight now on the daily chart, the price is getting closer to the point of the major weekly descending triangle(bearish), or the falling wedge(bullish). Either way I'm no longer trading BTC, but accumulating back in for a long term HODL position. Picking up BTC for my 10 year hold, 5 year, 2 year and 1 year. The price action will reach...
This isn't a short term forecast, but a long term trend extrapolation forecast, saving this now to come back later.
This isn't a short term forecast, but saving this to come back later, I actually see Bitcoin going to 40k by EOY 2019, 100k sometime in 2020, so will be making long term forecasts for those as well.
Bitcoin is over both the 12 and 26 moving averages and Ichimoko cloud on the 4hour. And on the daily over the MAs but still under the cloud.... Currently we are hitting the hard resistance on the Daily upward trend line as we approach the stronger weekly downward trendline. Note vol is also starting to drop off, the Bulls are starting to face an uphill battle now...
Inside bars have squeezed a tight range on ETH on the Daily Chart. Range between 222.16 and 210.16, since I only go long may set a momentum stop buy around 225-ish, or maybe 228 to be more conservative.
I was dead on calling this past bounce on Aug 16th: Now finally with the bears exhausted and shorts squeezed, we see the bulls counter attacking... however without an ETF approval they have no backup. What I see happening is the same trend back in Aug, but at a smaller scale. IMHO, Bitcoin bulls have enough gas to reach the 7200 range again, before getting...
Only visible supports for me are the VPVR lines. At around $183, $127.77 and then $64.24. I'm long term investing in Ethereum at these prices however, not trading Ethereum, but adding to my very long term position. Both Bitcoin and Ethereum will have solid and usable scaling solutions within a couple of years, with the Lighting Network and Plasmas / Casper /...
This seems to be a nice setup for a swing Trade on BTC if it breaks $6559. Using Hekin Ashi candle sticks and waiting on a possible momentum trade setup. Right now Bitcoin is being suppressed by the 12 and 26 EMAs (Coinbase exchange), but if it breaks through that, we could get another rally into the descending triangle's top line. Now I doubt Bitcoin has the...
Here is what I'm noticing, on the long timeframes, weeks and months, there are some really strong support lines which Bitcoin has never broken down on the log chart. The Price movement of Bitcoin has been heading to the bottom of this epic channel ever since the fall from 19k and the start of the 3rd major Bitcoin winter. (2012, 2014-2016 and now 2018). There...
I've discovered a new momentum trading style and liking the simplicity of the Heiken Ashi candle sticks, also starting to use the Ichi Moko Clouds indicator. Very clear signs here as BTC never broke through the cloud on the daily. Also the Heiken Ashi sticks defs pointed out that the support on the bottom trendline of the large daily symmetrical triangle wouldn't...
BTC is facing a hard ride for the next few days and into the weekend... on the Daily BTC was rejected by the long 200 day, and then went under the special 128 day MA. Now on the 4hr there is a heavy resistance line that BTC just fell under... I've been in Cash since 8100. If the ETF doesn't gets delayed, or worst rejected on or around the 10th, we could see BTC...
We can see clear support and resistance from the large Daily symmetrical triangle. The cyan area is my target for new entries on the 4hr / 1hr timeframes. Not much else to comment on, we are all waiting on the SEC decision on the CBOE EFT in August.
... the last channel... on the DAILY chart! This could be a combination of several positive news items, in conjunction with a massive short squeeze, time to ride the dragon folks! The positive news I'm talking about is the pending approval (or disapproval) of the CBOE ETF Aug 10th, Black Rock (managed 7 Trllion in assets) getting interested in Crypto, and...