Are the Bulls Back o_O ?!
It's been a while since my last post. In today's post we'll include the Longs vs. Short Chart and to see the people sentiments against Bitcoin.
Above Red lines represents the Longs and the Candles are for Shorts. So far seems like there's a gas rising for Longs but they'll need to face the bears @ 6.5K to 6.8K Range. Question now is,.. is it worth the risk to reach these targets?!
In this Chart it only shows 0.58% R:R targeting the 6.8K, while the downside goes as deep as 5.7K Range for the support that can even go lower given this Bearish Market Trend.
Though again, on RSI there's a Bullish Divergence showing w/ our 4H Chart
Right now my personal sentiments is slightly Bullish targeting the ff: T1, T2 and T3 if you really want to do a short term swing trade but again we can all chose to sit back a little and wait for a bigger percentage run either on Bear or Bulls and have a lower risk-high reward trade.
On the other side: We may reach the 6.8K before going down to 5K Range that will give as stronger buyers and somehow will hopefully push as back to the moon :) Keep in mind that there are still bunch of resistance that needed to be break.
In the end, you can set your SL and manage your risk well!!!
Know proper TA for each Time Frame, different types needs different sets of indicators (Di pwede gamitin lahat ng indicators sa bawat TF).
Additional Details in this article: https://steemit.com/pilipinas/@henrymac/time-frame-trading-know-what-kind-of-trader-are-you
Disclaimer
Heads up: This doesn't mean na perfect lahat ng mga plays nmen but what we do is lower the risk. It means kung dati HULAanalysis lang ang gamet nateng indicators, this time around we maximized all the position we took. But again it will not give 100% profit but instead, we will gain more on knowledge to be smarter trader next time around that will give us profit in a higher percentage. Know the difference between Trading and Hodl/Investing, they do have different strategies along side.
#HealthyMinds #NotAProTrader #NotYourFinancialAdviser
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I didn't even noticed it already reached the first target :D
kindly refer to updated chart today...