Defense Area

29 авг. 2019 г.

This posting is a recap of few previous posting about crypto.


It started around 2 weeks ago:

Based on ema, ichimoku, chart pattern in 4hr frame,
I thought there might be a great chance(in terms of reward/risk ratio) of huge short position in this spot.

It did started drop 4hrs later.

However

Even if it was dropped as I predicted, the moving path was quite unexpected.
I thought it would drop directly to $9,250-9100 area (which was my short position target point).
But it tried to recover many times.









https://www.tradingview.com/chart/BTC.D/yNyiavQS-XBT-USD-Money-Flow/

(I don`t know reason, I cannot import one idea directly, please click link above to watch)

I tried to figure out what is going on,
In result, I find out some possibility of "going out momentum" from total crypto market based on crypto market cap, altcoin market cap, gold, silver, stock market.
So, I didn`t close short position. I was almost certain that I could extract little more value at least.

For confirmation, I set "breaking altcoin marketcap trendline" in this posting as major basis.
As we know, It finally failed breaking up 50ema in 4hr frame, and it was "last chance" as I mentioned in this posting.





I updated to 'just run away bro' in 27th Aug as final warnning
(or maybe opportunity for short traders like me, I hoped you have followed my advise and made some decent 15% profit from $11, 300 to $9,600 )





So, what are we gonna do?

Actually, nothing changed that much.
I am still waiting for the area $9,250-$9,100.
If I am wrong and btc suddenly spikes up, I would take profit at $9,950
If I am right and hit the area, we have to make really important decision at the area.