Bitcoin - Are we full bull or another trap...
Updated
Good day traders.
Can somebody tell me wtf bitcoin is doing? LMAO if your the "market maker" please contact me with detailed plans! :0
BTC has serious resistance at $8000 and $8200. $8200 setting up for potential triple top but if resistance is broken, this is looking a lot like "full moon" and "Lambo dreams" type chit! Significant resistance at $8200 and of course $8500. Closing daily above $8500 without a significant retrace looks like we full bull beast mode!
I averaging in at $7110 after BB/KC squeeze but position size smaller than I wanted. Can't be greedy and have to follow my plan so no FOMO.
On the other hand, I still have buy orders stacked from $5300 - $6300. I already bought my bag for the $6700 - $7100 range and won't be trying to add. My stop loss will be in the low $4000 range (below the 200 MA) but this is a longer term trade.
My goal is to manage risk and protect my capitol. Never risk more than 3% of my available capitol on any single trade period. Learn and master 1 edge. I use the daily BB/KC cross with momentum. The current btc cycle appears to be bull so I will be patient and buy the dips then sell the rallies. Be prepared for both and your less likely to feel betrayed!
This is not financial advice or a recommendation. Do your own research and thinking...
Can somebody tell me wtf bitcoin is doing? LMAO if your the "market maker" please contact me with detailed plans! :0
BTC has serious resistance at $8000 and $8200. $8200 setting up for potential triple top but if resistance is broken, this is looking a lot like "full moon" and "Lambo dreams" type chit! Significant resistance at $8200 and of course $8500. Closing daily above $8500 without a significant retrace looks like we full bull beast mode!
I averaging in at $7110 after BB/KC squeeze but position size smaller than I wanted. Can't be greedy and have to follow my plan so no FOMO.
On the other hand, I still have buy orders stacked from $5300 - $6300. I already bought my bag for the $6700 - $7100 range and won't be trying to add. My stop loss will be in the low $4000 range (below the 200 MA) but this is a longer term trade.
My goal is to manage risk and protect my capitol. Never risk more than 3% of my available capitol on any single trade period. Learn and master 1 edge. I use the daily BB/KC cross with momentum. The current btc cycle appears to be bull so I will be patient and buy the dips then sell the rallies. Be prepared for both and your less likely to feel betrayed!
This is not financial advice or a recommendation. Do your own research and thinking...
Note
Bulls look strong at $8200 but there will be no buy volume if they fail this rally. Nice volume thoughNote
Impressive strength breaking $8200... Watching this close could be volatile and funTraders I spent the evening with a gentleman that makes hand crafted wooden plank chairs at $4000 ea. What a treat to spend time with a craftsman that loves what he does. He had so many obstacles but was to determined to give up and now he is reaping the benefits. Trading is the same way.
Also, have to say hello to the wonderful ladies from Atlanta. Apologies for calling you Cassandra and then insisting that you were going to be Cassandra tonight. :) Best of times
Note
We should see a significant move soon. There aren't many buyers until $6475 range. I think moonboyz dumping a little before next cycle. UP we goTrade closed manually
What can we determine from the charts? Double top for sure with many possibilities moving forward. This will tell us the strength of this rally but I am full bull and buying dips with limit orders. Watch the EMA12 & EMA26 averages on coinbase on daily. Easy buy ins near EMA12 but haven't had an order filled near EMA26 for awhile. Drop below EMA26 and then look for price to find 50 MA.
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