Good Day LOVE... And it is...
(Note: This is the analysis that I shared before Bitcoins breakout)
Hit LIKE and we start with some phrases coming out of the money people in this reality... And these people have lots of money; let's see what they have to say to newcomers like us (crypto-traders):
"Bull markets are born on pessimism, grow on skepticism, mature on...
With the growing bitcoin dominance in the cryptoverse, altcoins are facing the fate of Bitcoin’s price action. In the year 2019 value of Bitcoin is more than tripled amid the positive outlook and some mainstream adoption of Cryptocurrency. With the announcement of Facebook’s Libra the market started climbing. The Bitcoin price surge to $13,000 and other altcoin’s...
HOW TO EXIT THIS TRADE ?
THERE IS NO TARGET ON THIS TRADE ITS RATHER BASED ON TREND FOLLOWING SYSTEM .
WE HAVE TO CONTINOUSLY SHIFT OUR STOP FOLLOWING THE TREND .
FOR EVERY PRICE MOVEMENT SHIFT YOUR STOP UP UNTIL ITS BREACHED .
HOW TO FIND THE STOP ?
STOP = CMP - 2*(ATR)
FOR EXAMPLE ON THE CURRENT DAY :
CMP - 253.45
ATR - 8.3
STOP = (253.45)...
We already have trended down significantly for a couple of days now.
Price getting reverted to 200 MA on '4hr' time frame is likely before going down again to test 200 'weekly' MA.
Long entry on Bitmex (XBTUSD) : 3270-3380
Target 1 : 3700-3800
Target 2 :4100-4200
Target 3 optional : 200 MA on 4 hr timeframe