My Bitcoin Ascending Triangle Game Plan
Ok, I'm assuming everyone knows Bitcoin is attempting an ascending triangle. What I don't like about this ascending triangle is the bearish divergence. What I really DON'T LIKE is the cross to the negative side as of two days ago on the MACD. This just shows that 'winter is coming' and the perfect opportunity for a short with it. Of course this is not financial advise and I'm merely sharing my thoughts.
GAMEPLAN
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It is May 25th, 2019. I'm expecting a drop to 7890 around Memorial day before starting our last shot at breaking 8300 if we do not continue to fall.
While the trend continues upward because of bulls buying dips, I will stay on my long and might add some at 7890 if we get there with VERY TIGHT stop losses.
We all know we are over extended and the crazy strong resistance from 9.5k to 10k. So the way I will play this is planning to long 6k to 6.8k or short 9.3 to 10k and close my current positions via a stop at 7.7k if we drop below the support area.
I will also be selling from 8800 to 9500 area while raising the stop at the same time. My plan is to average my entry within these points spread out evenly with a massive short at 10k or massive long at 6k if we get there which I doubt.
Whether long or short there's going to be a lot of opportunity coming up soon. What is your game plan? How are you playing the next week? I hope you've establish it ahead of time.
GAMEPLAN
--------------
It is May 25th, 2019. I'm expecting a drop to 7890 around Memorial day before starting our last shot at breaking 8300 if we do not continue to fall.
While the trend continues upward because of bulls buying dips, I will stay on my long and might add some at 7890 if we get there with VERY TIGHT stop losses.
We all know we are over extended and the crazy strong resistance from 9.5k to 10k. So the way I will play this is planning to long 6k to 6.8k or short 9.3 to 10k and close my current positions via a stop at 7.7k if we drop below the support area.
I will also be selling from 8800 to 9500 area while raising the stop at the same time. My plan is to average my entry within these points spread out evenly with a massive short at 10k or massive long at 6k if we get there which I doubt.
Whether long or short there's going to be a lot of opportunity coming up soon. What is your game plan? How are you playing the next week? I hope you've establish it ahead of time.
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