Bitcoin has been trading sideways after sustaining above 30k for the past 2 weeks. I have bought during that time for the long term & looking to buy more soon if bitcoin goes down to 34.1k and bounces. If no bounce, I will buy 31-30k range and prepared to buy lower.
My contract trade, I have been in a long position these past 2 weeks during my vacation; increasing and taking profits, currently still long.
I will flip to short if 34k is lost. Here is a daily chart which is the strongest signal I see to confirm a trade. In this daily chart, I show either TODAY or TOMORROW is very important... If bitcoin goes lower to find support as low as 31-30k, which is why I will flip to a short position immediately!
On the other hand, I will add more at 35.1k if volume confirms a explosive move that could take the price to 37k. As far as patterns and what I see in the short term, in the 1 hour, we have a double bottom pattern at the 33k region. (The double bottom trade-I have a target of 37.6k)
Although, so far there is now a double top showing at the 35k. This is going to be a squeeze in the 34k region-which we are right now! The double top pattern trade, I have a target in the 33k-32k region to hold for few hours. If its not strong, there is the 30k retest battle to watch! This is why it is so important right now to watch the market where bitcoin could lose 30k again and see those lower lows to bounce back to test 40k again. Below, is the 1 hour chart showing the double bottom & maybe this possible double top playing out in the immediate short term.
I have been talking about Ethereum only going up, since bitcoin was undecided under 30k, because this update about to roll out: burning the Ethereum circulating supply. This will continue to increase the price. I will short ETH for a fast short term trade if it loses 2270, to a target of 2140, and possible 1970... if bitcoin loses 33k too.
My contract trade, I have been long since 1880, taking profits and will add more at 2310-2303. Long term I will buy more Ethereum below this range & at the next retest of this support line I have below in my 4hr chart!
Litecoin - I see a possible retest of a trend line at 138. If that doesn't happen, my next buy is at the breakout of 142.70; following the same Bitcoin bounce.
ADA - Is looking very similar to bitcoin according to my charts. As long as bitcoin bounces, I will buy the trendline at 1.40-1.41
EGLD - I'm looking to catch EGLD at 95, holding in a up-trend, to retest a break above 108.
DOT - I'm very bullish right now for more locking up of the supply happening with this project coming up in the next few months. Buying 16.47 -16.23 with the bounce of ETH similar pattern.
Atom - I'm looking to buy the 13.20 retest as long as Ethereum is looking healthy on the same bounce.
ONT - Has been holding this region above .60 very strong. I will buy the .74 -.75 retest as long as Ethereum follows.
MKR - I found in the charts-a possible retest to buy of 2620 with targets of 3700, as long as the market is bouncing strong.
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*DISCLAIMER: I AM NOT A FINACIAL ADVISOR.*
`This is not financial advice, I'm only sharing my personal live trades.`