BTC/USD - Thoughts: Buy Zones

- We had an upthrust through the trendline resistance dating back to Dec
- We have our two consecutive lower closing price on 15 mins chart - My opinion is the price has been rejected by this level. This should be valid until we close above $11652

- I am short term bearish
- First buy zone is based on 1.618 fibonacci extension of the previous leg to the downside.
- Second buy zone is based on 2.618 fibonacci extension + .236 retracement from the low of ~$6K

rejected again.
This is no trade zone
交易進行: accumulating at minor pullbacks
i am bullish now
評論: Keep in mind the buy zones mentioned are still valid, i will be laddering my buys
評論: I have expressed my opinion on bear vs bull market before, I just want to show why that is again.
From price A to B, a bear market usually travels faster (slope is steeper).

In this case, we would have had made the same amount of $ shorting the downtrend in almost 50% less time! Cmon, how can you not love bear markets?

Why is it the case? Because people panic faster compared to the time it takes for greed to kick in.

I am now bullish because the price action says so.
Nevertheless, I look forward to the next mega bear trend.


Future adjusted buy zones
評論: Someone PM to ask my btc positions. This is me taking some profits from my short position from the previous post
I am not opening long positions at the moment.
評論: - Shorted more at $10777

Sharing my thoughts with you all

- SL: 10822
- Base price: 10777 (mine is higher since I shorted at the resistance trendline at $11750)
- Target: $8310

R:R is an absurd 54.82
I am playing a big position. This is what high R:R allows you to do.
評論: updated at wrong post, sorry
評論: You can buy me dinner @

- BTC: 12L635hTz12ZcwBzdixwKyWYpkpUa5ve8p
- ETH: 0x05f171e02092ce9200779ace56ff1b1411e1ec26
- LTC: LTFr3Jp445vENZUZQopQPoqRgeSyGs36fe

Hope this info has helped :)
Thanks for sharing...
Question: How did you adjust the buy zones in your last update? What's the basis for this?
+1 回覆
AlexCH EspressoDopio
@EspressoDopio, i adjusted it using the new peak as coordinates to find fibonacci levels
@AlexCH, Makes sense. I believe there is a H&S formation building up which only confirms the shorts and lowers the risks...
good call
+1 回覆
Can you explain your buy laddering philosophy/methods
AlexCH jimo79
@jimo79, identify levels --> draw a box on the chart enclosing each level --> allocate % cash for each level --> randomly draw a bunch of horizontal lines within each box -->ladder according to the lines you just drew
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