Forwarded from CryptoTrendy's channel
$BTC DAILY UPDATE:
- Daily bullish SFP
- 12HR RSI bull div formation
- Decreasing volume
I saw many people call that we were heading for new lower lows on crypto Twitter. We could indeed go lower but I believe that very few people bought that support at 6000 since every single support failed to offer a real bounce since our local top at 8500. And I really feel that some more people sold once we broke 6100, anticipating lower lows.
Being part of my trading system I happily opened a long position with my SL below swing low (~5920) giving me enough room in case a make another dip below 5971.
If it plays out, this is a hold for the next few days/weeks since I expect a massive short squeeze to occur. We just had a Long/Shorts flip
- Daily bullish SFP
- 12HR RSI bull div formation
- Decreasing volume
I saw many people call that we were heading for new lower lows on crypto Twitter. We could indeed go lower but I believe that very few people bought that support at 6000 since every single support failed to offer a real bounce since our local top at 8500. And I really feel that some more people sold once we broke 6100, anticipating lower lows.
Being part of my trading system I happily opened a long position with my SL below swing low (~5920) giving me enough room in case a make another dip below 5971.
If it plays out, this is a hold for the next few days/weeks since I expect a massive short squeeze to occur. We just had a Long/Shorts flip
It looks like I got a lucky timing posting that Ethereum update...
Forwarded from CryptoTrendy's channel
#Bitcoin Update:
Took the long yesterday when I told you because the setup gathered all the elements I have in my trading system.
Now expecting bulls to challenge those highs (see red cross).
If we have enough momentum, the big amount of shorts will be forced to close and thus buying back. I'm really expecting a retest of previous support (broken) in order to flip it into resistance (around 6900)
Took the long yesterday when I told you because the setup gathered all the elements I have in my trading system.
Now expecting bulls to challenge those highs (see red cross).
If we have enough momentum, the big amount of shorts will be forced to close and thus buying back. I'm really expecting a retest of previous support (broken) in order to flip it into resistance (around 6900)
Forwarded from CryptoTrendy's channel
#Bitcoin UPDATE:
We just had a dump (from 6550 to 6130) on decent volume if you look at the mid TFs which can be quite scary if you went long.
But if you look at the smaller TFs, you can notice that dump occurred on low volume but when we broke 2 key supports at 6285 and support at 6166, that's when volume increased.
Having those south wicks actually indicates that buyers stepped to support the price.
We just had a dump (from 6550 to 6130) on decent volume if you look at the mid TFs which can be quite scary if you went long.
But if you look at the smaller TFs, you can notice that dump occurred on low volume but when we broke 2 key supports at 6285 and support at 6166, that's when volume increased.
Having those south wicks actually indicates that buyers stepped to support the price.