BTC (Y20.P1.E15).TA.Enter Time

22 ene 2020

Hi All,

** Please don't forget to give me a tick\like, as I would appreciate it **

I have chosen this chart range to keep it simple and to also demonstrate some fundamentals (part of trading).

Points to highlight>
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Note
> This post is not about shorting but going in with a large junk of your money.
> Talking about shorts is useless at this stage because I don't know your trading style nor when you entered.
> We don't know how how price is going to behave when it gets to the 8800 to 9k range but my position is that the we won't return to this current price level of 8700, with the view that target 1, 2, 3 are 9k, 9500 and 10k range;

** How you trade\style is about managing your risk. You might take some $$ off the table at 8800 eg and then use those funds for other crypto's that present themselves for opportunities.
For now, in my mind there are 2 possibilities at this range, people will either sell because that's their trading style and the other is to buy now and move their stop limits up as price makes milestones (based on their plan).
The choice is yours, hence strategy cannot be factored into this post, and hence 9k. It's all about your intention\strategy.
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Now the TA side
> The chart structure is good. To long to explain why here.
> Price has done a good pullback and into a pocket where it has had a good price action response today (hit a sweet spot) and the daily candle has given us a good sign, at a key fib. level;
> Candlestick formation on the 8 HRLY and Daily look good\bullish; Even the 4 HRLY;
> The fractural on this chart, purpose is to see what I see, your mindset on what is happening rather than what you think is happening;
> The price action is telling us a story, just like what we had last year in the early stages of breaking up, viewing the 10/20 EMAs as a support range, sometimes the 50 EMA;
> My expectation hence now accumulation to take part under the 9k range with lower highs, just like the fractural;
> It just good to see that the MACD or any other indicators show confluence with the fractural.

Using some close ups on the fractural and compare them to now.
2018, 8 HRLY chart and observe how the price action relationship is with 20 and 50 EMA.


4 HRLY chart


*** Now compare price action to now ***




Regards,
S.Sari /CryptoProspa




MACRO view





Weekly MACD

23 ene 2020

Nota

Some basic tools gives you potentially another perspective.
Major milestones\channels, supports the fractural theory.

23 ene 2020

Nota

I didn't expect it to drop below the support of 8500. The next line, 8350 is the last, below that, I will be bearish bias. That is with the 4 HRLY or 8 HRLY candle stick closing below it.
For now, we are still above the daily 20 EMA and all is expected within range

23 ene 2020

Nota

As per my previous post at the micro level, we are now in the weak bullish area and my bias is now turned to retesting the bottom of the trend line which is approx. 7500.
Note: Below $8,470, bitcoin is likely to extend its losses towards $8,100 or $8,200. The main support is near $8,000, where the bulls are likely to take a stand.

23 ene 2020

Nota

We are holding at the daily 20 EMA. Let's see if this holds, to continue the uptrend.

24 ene 2020

Nota

Here AB=CD almost to the exact number. If this is the case, what do you think will be the pullback pattern?