filbfilb

BTC - Decision time

BITFINEX:BTCUSD   Bitcoin / Dolar
Bullish Case:

- Leveraged longs are closing but price is rising
- CME news is bullish
- The whole crypto market is in an ascending triangle and is bullish
- Capital flow from alts into BTC             for 2x
- TD             sequential monthly and weekly indicator suggests more upside
- Targets would be 7k and upward after a retest


Bearish Case

- Touched rising wedge resistance
- Longs are exposed and whales will go hunting
- TD             sequential is on an 8 on the 4 hour at the top of the trend.. 9 says take profits and you can see this has bene important in this trend
- I would expect the coins to be bought back cheaper before the hard fork.
- We are overdue a biggest pull back in the market but it will probably come after 2x.. or not at all!

I am currently 100% in cash waiting to see what happens next.. sometimes the best trade is no trade until we have clear confluence!

Ill try to keep you updated as things develop.

Phil
Komen: This is crazy guys - congrats!

Komen: Touched long term pitchform but stilll looks hungry

Komen: more evidence for 8k

Komen: Get back in that wedge before one last dump lol
Komen: Possible bottom formation

Am I seeing this right? The 1hr chart is forming an inverse head and shoulder pattern?
Balas
@rarea, Hi rarea i have updated in the above, i dont think its a H&S but more of an Adam and eve. I still dont feel confident in it being th ebottom yet so am not trading with high leverage and am using tight stops.
Balas
I see it other way, h&s on the top, and market is overbought.
Balas
filbfilb filipnr1
@filipnr1, yes possibly, but its also been doing that all the way up and i follow the trend until its violated.
Balas