I am not a professional trader by any means. I am a complete novice and learning TA on my own.
The being said, I am not a financial advisor nor is this advice in any way, shape or form.
I charted this approx 12 hours ago (12pm AEST 11/11/17). My thoughts were with all the current FUD circulating and BTC needing a correction, it will be big.
So I charted 2 fibs, and shorted. I see the 6k mark as being a strong support but if broken 4.8k will be our next arrival.
Personally, I am shorting to 6k, buying, riding the bounce, then continue shorting if the chart deems it fit to do so.
I also charted BCHUSD but haven't traded it. I have noticed the opposite effect of BTC and BCH and with the FUD circulating, it will continue. I am now looking for a retracement to hedge against BTC since I just missed the massive 50% gain train. If it continues to rise, then RIP me no gains but no losses. Ill post my BCHUSD chart next.
The being said, I am not a financial advisor nor is this advice in any way, shape or form.
I charted this approx 12 hours ago (12pm AEST 11/11/17). My thoughts were with all the current FUD circulating and BTC needing a correction, it will be big.
So I charted 2 fibs, and shorted. I see the 6k mark as being a strong support but if broken 4.8k will be our next arrival.
Personally, I am shorting to 6k, buying, riding the bounce, then continue shorting if the chart deems it fit to do so.
I also charted BCHUSD but haven't traded it. I have noticed the opposite effect of BTC and BCH and with the FUD circulating, it will continue. I am now looking for a retracement to hedge against BTC since I just missed the massive 50% gain train. If it continues to rise, then RIP me no gains but no losses. Ill post my BCHUSD chart next.
Comment:
update: if this shoots straight through 6k, I'm holding the short.
