Bitcoin Long Set-Up - Larger time frame view

8 de mai. de 2018

As you can see, if we don't make a move up here, we will be looking at a bearish divergence on the 4hr rather with any bounce before 8.9-9k being good short opportunities. A bounce here at 9.3k is a must if we are going to maintain our bullish bias.

Also, the green boxes represent key areas where we may bounce in the event that we don't bounce here.

9 de mai. de 2018

Nota

Little update - I don't know what I was thinking when I said we would be making a bearish divergence if we didn't bounce when I posted. We actually have a hidden bullish divergence. What I meant to say is that if we set a lower low here (sub 8.9k) then our hidden bullish divergence will no longer be valid, however, if you look at the weekly, we are in a solid uptrend and this short-term downtrend is more likely than not to continue. What would negate that is a dip below 8.8k at which point I will potentially be looking for shorting opportunities. See next graph for an updated picture.

10 de mai. de 2018

Nota

I have added a moderate position size here (9100) with room to buy more lower but have a feeling that this may be the lowest we go and because I can keep my stop tighter from here, feel comfortable with a larger postion size. Load up and get ready for the ride. But do not overleverage because one thing that I have learned is that no matter how confident you are, ANYTHING CAN HAPPEN and NOTHING IS GUARANTEED so always have a plan and stick to it.