We find Support at 9K - For Now.
Let's Consider Fundamental and Technical Analysis
Long Term Bias (6+ months) - Bullish
Medium Term Bias (Days to Feb 16) - Bearish
Short Term Bias (Today) - Neutral to Bullish
Long Term Target Prediction - $30,000+ by 2019
We first look at BTC long vs BTC shorts and notice BTC longs are up by 3,000 BTC more than shorts. BTC short positions have been closed around 9K ranges and a short term rally is occuring for this possible bounce.
These are my key levels of support with two different levels, and a key resistance.
I sit on the sidelines while waiting to accumulate my specific altcoins. Though I will point out a possible play for the risk takers and extremely short term traders capitalizing on volatility.
Here is the bullish scenario, entering on confirmation above $9,250, targeting between $9,750 and $10,000 with an R:R = 1.52:1 assuming stop loss at $8,800
Here is the bearish scenario, entering on confirmation on downtrend below $8,800, targetting between $7,915- $8,425, with an R:R of 2.88:1, assuming a stop loss at $9,000
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
Luna's personal bitfinex account:
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.