CryptoMARC07

Weeks strategy - Wait for set up

BITFINEX:BTCUSD   比特币/美元
Waiting for set up on BTC /USD
Seeing a rising wedge after small breakout from descending triangle pattern on 4h chart.
VWAP shows bullish control but not convinced this is a true buyers market yet. Pattern of trade sees too systematic or robotic (i.e. bot, whales?).

Either way waiting for retrace to 10.3k for a nice support and prime to break 12k wall. My target will likely be just under at 11.9k.
Will return if it breaks 12250 since this would complete a head & shoulder on the daily chart , or cup & handle pattern on the 6h chart leading to retrace back to 17.5k+


I wouldn't be surprise if btc breaks 10k support, altcoins could start to take a lead on gains. Similar to price action leading up to december & january.
I'll be looking out for XRP & Coinbase CEO on Fast Money this week. I'd be shocked if they announce something but buying the rumors to sell you the news :P
Interesting that news of Germany's tax pseudo-exemption on cryptocurrency as a means of trade didn't have a huge impact on market. But lets see if others follow after the G summit with other EU nations next quarter.

Happy trading!
评论: Nothing to really update about. Testing some buy walls. I was anticipating a 11.1k retrace as its nearest support level but seems to be trying to break the 11.7k. Not really doing anything but watching at this point.

If it breaks 12,250 then I will likely enter. But I'm more hoping for a 10.8k entry so that it can build some buy pressure to overcome the 12k wall.

A wider channel than the original channel I posted about earlier this month is in play but I won't be using that as my playing field until a proper retracement / breakout.
交易结束:到达止损: Apologies, I was lecturing this past week in Baltimore. Now back to usual trading.
I had my stop lost set to take short strategy which it has done already. I bought back in at 8.4k with a 15% gain from trading the BTC to alt coin back when it was at 11.4k.

Waiting on better support but I would not be surprised if a rally begins this week. I will post new TA if signal is provided.

Cheers
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