It seems like we might get a rally back to test weekly sellers in the vicinity of $8400, by Mid September. If this is the case we might go sideways near the top to then resume the decline, after sentiment becomes too complacent and people believe the bear market is over. Currently, we might see unwinding of shorts positions due to the ETF news, which would make it more advantageous for futures traders to flip long and reshort back at the previous short zone where they likely entered, around $8400+-.
I covered my shorts and flipped long at 6360, if we don't break this week's low, we will likely see the bullish scenario outlined here pan out, but we need to remain ready to exit and flip short once it's clear this rally topped, since the long term chart remains potentially bearish until at least May 2019, and given the fact that Mt Gox coins are likely to hit the market by Feb 2019, it's unlikely that long term investors would risk it without hedging at least. As a sidenote, most altcoins are also acting strong, with $ETH, $ZRX and $ZIL, to name a few, looking very constructive for further upside.
Since the market has less participation following the top in December 2017, chart signals become harder to determine, or at least win rate could potentially suffer. So far we have fared really well, but it's always wise to control risk not getting married to positions, and sizing them correctly.
Best of luck,
Ivan Labrie.
I covered my shorts and flipped long at 6360, if we don't break this week's low, we will likely see the bullish scenario outlined here pan out, but we need to remain ready to exit and flip short once it's clear this rally topped, since the long term chart remains potentially bearish until at least May 2019, and given the fact that Mt Gox coins are likely to hit the market by Feb 2019, it's unlikely that long term investors would risk it without hedging at least. As a sidenote, most altcoins are also acting strong, with $ETH, $ZRX and $ZIL, to name a few, looking very constructive for further upside.
Since the market has less participation following the top in December 2017, chart signals become harder to determine, or at least win rate could potentially suffer. So far we have fared really well, but it's always wise to control risk not getting married to positions, and sizing them correctly.
Best of luck,
Ivan Labrie.
ความคิดเห็น:
Daily #BTCUSD suggests we will rally towards 7438.57 by the end of July at least, 3-D charts point higher, over time...For now simply hodl
ความคิดเห็น:
Bought some $ETH with $BTC here.
Bought some $ETH with $BTC here.
ปิดการเทรด ด้วยตนเอง:
I'm back in cash, will wait for now. Likely to correct or consolidate.
ความคิดเห็น:
We had bought back yesterday at $7705 roughly. I thought I had updated, but maybe I skipped this chart.
การซื้อขายยังคงดำเนินอยู่
ปิดการเทรด: ถึงเป้าหมายการทำกำไร:
I close my position and wait in cash, market likely sideways until September, when the ETF decision is out of the way, then down...probably. Last: 8236.3
ความคิดเห็น:
Down indeed. Now we wait, after this week's close a bearish signal might confirm.
ความคิดเห็น:
Was spot on the whole time...and out of it when sideways and boring.
Now ready to move down again, not interested until it bottoms long term. Time at mode will tell us when.
Was spot on the whole time...and out of it when sideways and boring.
Now ready to move down again, not interested until it bottoms long term. Time at mode will tell us when.
