Bitcoin are we going to break this trend line? Will ETF save us?

2018年7月24日

BTCUSD

ETF ETF ETF ETF!

Showing strong bullish momentum over the past few days for Bitcoin a lot of build up over ETF announcements.

In my opinion if ETF does not get approve many investors will be disappointed and you can see sell-off occur.

Currently 2 key resistance is in our way
- Down trend line
- Fib retracement Golden Pocket

It is still too early to enter any shorts as it would be a counter trend trade + naked short.

Will start to monitor and start to notice for exhaustion.

2018年7月24日

註釋

4hr time frame, showing first signs of weakness. Usually a double top or break above the zone. Shall monitor closely with rejection at the fib levels.

2018年7月25日

註釋

Shorted BTC

2018年7月25日

註釋

was waiting patiently for the double top to form always wait for more confirmation
- MACD cross
- Bearish divergence
- Double top
- Decrease volume
- Fib retracement (golden pocket zone)

2018年8月1日

註釋

Back from holiday. Short closed with profit
Seems like the perfect fake out with that trend line break with the fib line as the snag