Position: Bullish with a Dash of Bears
My last post laid out a pretty clear strategy to pick up some BTC as it dipped down. If you are following me, I hope you got in and scooped up some of these prices as it fell and realized how effective employing a martingale strategy is. While my positions aren't as good as ETH, I still have some solid positions in BTC that are profitable right now with an average buy at around 7.65kish.
Some technical's that aren't shown on the chart:
The MACD on the weekly chart is pointing to the downside.
The Daily MACD is negative but looking like it might turn to the upside.
The rest of the indicators are giving us a signal that we could easily have a choppy ride up to just below this 10k area. This is where I will be looking to take profit.
Right now, it's broken this 9k level to the upside a little and a continuation seems likely. However, as I am writing this, the 9k level is really putting up a fight and we are having some selling pressure. As long as we don't get a solid break of the 8.5k level, we should see btc go higher to just below this 10k area. The 8.5k area is the area to watch on whether or not we revert back to the downside sooner rather than later
IF we get a pull back from this 10k level and it finds support at this 8k area, we will complete DAS UBER WEDGE. What does Das Uber wegde mean? It means that we will most likely have a very strong move up or down once it breaks one way or another. I would wager that we will either see it print 11.5k or go back down and we will see 6k.
Happy Trading everyone. Don't stress, pick your points and don't use leverage.
-Sherem
Check out my last call with how I got my average buy at 7.65kish -
My last post laid out a pretty clear strategy to pick up some BTC as it dipped down. If you are following me, I hope you got in and scooped up some of these prices as it fell and realized how effective employing a martingale strategy is. While my positions aren't as good as ETH, I still have some solid positions in BTC that are profitable right now with an average buy at around 7.65kish.
Some technical's that aren't shown on the chart:
The MACD on the weekly chart is pointing to the downside.
The Daily MACD is negative but looking like it might turn to the upside.
The rest of the indicators are giving us a signal that we could easily have a choppy ride up to just below this 10k area. This is where I will be looking to take profit.
Right now, it's broken this 9k level to the upside a little and a continuation seems likely. However, as I am writing this, the 9k level is really putting up a fight and we are having some selling pressure. As long as we don't get a solid break of the 8.5k level, we should see btc go higher to just below this 10k area. The 8.5k area is the area to watch on whether or not we revert back to the downside sooner rather than later
IF we get a pull back from this 10k level and it finds support at this 8k area, we will complete DAS UBER WEDGE. What does Das Uber wegde mean? It means that we will most likely have a very strong move up or down once it breaks one way or another. I would wager that we will either see it print 11.5k or go back down and we will see 6k.
Happy Trading everyone. Don't stress, pick your points and don't use leverage.
-Sherem
Check out my last call with how I got my average buy at 7.65kish -
Комментарий:
We are hitting this 8500 support level, we need to have a solid rebound from here for a continuation push to the upside. If it breaks this level, we could see it break down.
Комментарий:
A lot of downward pressure. Placing a stop just below 8200. We'll still be profitable, so you can be liberal with your stop if you want and place it below 8k, but it's not looking very promising at this point.