💰 Goldman Sachs is hosting a call on Bitcoin. In the past, Goldman interest in Bitcoin has generally correlated with bull markets and periods of general interest in crypto. This isn't to suggest that Goldman being interested is some indication that price has to go straight up or that the top isn't already in, but rather the topic of Bitcoin as a hedge and Goldman's interest both reenforce the current uptrend seen on higher timeframes. Given that, we are ultimately looking for a long setup here.
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1. Fractal Trend is still showing an uptrend (Aqua bar color) on the 4 hour timeframe despite Bitcoin consolidating within a pennant after being rejected at resistance once again.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua line color) and/or bullish S/R levels plotted by Directional Bias (Aqua line color).
3. Right now we are looking for a long entry off the range formed by the previous S1 bullish S/R flip at the bottom of the pennant.
4. Our stoploss is placed below the S1 S/R, well below the previous candle closes where we expect to find support.
Ultimately the trade here is simple, buy the clear support below and target another test of the resistance at R1.
@derberry, proper risk mitigation is essential for profitable trading ;)
ezpi
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the news about GOLDMAN SACHS is 100% BEARISH!
(or, not really anything at all....)
They are NOT telling clients to buy bitcoin. They are telling clients that bitcoin is a scam and to stay away from it, as theyve been doing for the last 10 years.
Research your news before posting about it..........
@ezpi, It seems you have not read our summary as we clearly state "This isn't to suggest that Goldman being interested is some indication that price has to go straight up or that the top isn't already in...". We are rather referencing Goldman's past influence around the time of bull runs and how they have a call on topics that include but are not limited to Bitcoin.
ezpi
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@AlphaBotSystem, goldman has never invested in crypto and has continuously - basically every single year at these same exact meetings - told its clients all the horror stories of why NOT to invest in crypto.
everyone posting anything else about it is completely ignorant - and making up their own stories in their heads based on nothing more than the title of a client investor meeting.
some people just never learn from their mistakes.
AlphaBotSystem
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@ezpi, You seem to have some strong opinions about this topic. Perhaps instead of talking down about other's opinions, you should create an idea post of your own proving everyone wrong? :)
ezpi
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@AlphaBotSystem, i dont have opinions.
i have facts.
that is literally what i have been saying this whole time........
get out of your ego and listen to reality please. ty, gl, bye now.
AlphaBotSystem
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@ezpi, It would seem you are the one that needs to do some research before complaining about other's work. :P