Bitcoin - Possible bounce @ 6000 psychological support

Looking at BTC's previous corrections from all time highs, it usually takes around 72 hours for the correction to end and a bounce / market switch to set in. In this case, 72 hours from now will be Monday morning in Shanghai. So let's see if time frames can be of any help in BTC. Will update on entry and stop if I do go in.

Bình luận:

18h left til market switch

Bình luận:

Double bottom at 6450, if it breaks we could be heading down to 6k

Bình luận:

Bình luận:

There it goes. Now waiting for 5900-6000 to buy

Bình luận:

Patiently waiting on this, entry at 5930-6000 area, stop at 5832

Bình luận:

Bình luận:

Edging closer and closer

Bình luận:

bounce and retesting 6450's

should be a bit of resistance here, and then down to our entry - we hope

Bình luận:

If we head above 6550, we might have to re think getting in at 6k. We're still okay now, price is currently 6430

Bình luận:

there's the 6450 resistance after the restest

Bình luận:

Price came a lot lower than expected, did not open the trade

Bình luận:

Bình luận:

So, in conclusion, our time analysis was correct, the only problem was, the buy area was set too tight. With less leverage, a wider stop, and more patience when scaling into the position, this trade would have done well.

Until next time

Bình luận:

waited on the pullback after the bounce, got in a small position around 6040

stop at 5982, if we break into the 5900's again i believe we're heading back to 5k. Im intending for 6k support to hold here

Bình luận:

situation on BitMex

Bình luận:

Hoping to hold 6k support here until Asia wakes up in ~4 hours

Bình luận:

Stopped out minutes later. These guys are market dumping hard. Good luck out there

Bình luận:

At least the time analysis worked, even though I missed the dips

Bình luận:

wow, looser stop next time. Would have been an epic ride from 5800 to here

Bình luận: