Bitcoin, $4,000 & IOTAUSD Support

G’day Everybody, hope all is well. Wanted
to take you through the top ten, because I think it’s important to look at it right now
and just get a bit of a grip of what’s actually going on. I’ve been talking in market view
about the pullback into this cradle zone, how it had happened. And how we actually had an opportunity yesterday
on the 16-hour here. A bearish candle to get short if you wish to. I was also very happy
to watch this one hour time frame. I actually didn’t get the third test that
I was after there. I just sort of went straight through. I’ll have the three tests to get
short on that didn’t quite get it. I honestly I didn’t, I didn’t take the 16
hour but the candle was a little too big for me. I wasn’t too keen on on getting short
on that. Now the reason I think is important right now is let’s just have a look at where
it’s held up. So I’ve gone (whistles) tanked down. Lower
high, lower low, and I had said that 4000 would be a level that no matter a make or
break level, but if we were to see on the daily this to continue to move higher, then
we need to have a higher low and the 4000 mark appeared to me as that point of testing. Now we are sitting around 4000 now and there
is a high probability that over the weekend, we do stall and just hang around 4000 and
don’t do a great deal. And that in his own right might actually provide us with opportunities.
Maybe there might be little consolidation on my form. Nothing there really just yet from my point
of view. But that’s a that 4000 is holding their holding above 4000 we may actually see
this become a higher low but for me right now, it is a key point and if you have a look
throughout the rest of the market, you can actually see the rest of the market is at
somewhat of a similar position to Bitcoin. Many pulling back and breaking down but now
just holding in a bit of consolidation and as I say, what I’ve been looking for I don’t
care much for Bitcoin Cash, although. There is a bit of a level forming. It sets a pretty
diversion on 4 hour but as we get lower you can see that this time frames.. I’m going to pop that in my watches but you
can go through here and you can see most of these markets are somewhat stalling and waiting
for opportunities. You see, EOS pulled back into the cradle zone is absolutely magnificently
and sold off probably the biggest to sell off after that pullback and if you have a
look sorry on the daily you’ll see that as well just pull back a little bit and continued
to sell off hard. Cardano was another one I didn’t like the
look of yesterday as it had pulled back in. Again, the candle was a little bit too big
for me. It wasn’t one that I actually decided to get short on. But again that doesn’t mean I’m not looking
for opportunities today and over the weekend possibly. Again. I’d love to see this consolidation
continue to get a nice flat level for Bitcoin breakout type trade. Stellar Lumens is probably
one of the ones that doesn’t show the most promise. It has held in that cradle zone. It continues
to hold in that cradle zone. Big bearish candle there. No flat level form just yet. Neo did pull
back sell off. You’ll see here. I was hoping to get a small bearish candle
I didn’t quite get it it sell off no trade for me again. I did not take any trade there
yesterday was a pretty flat day for me. You’ll note here though that it is sitting down at
these levels and stalling as well. Now my favorite out of all of these potentially
for trading up early is Iota, on sorry against the dollar. 30 minutes pretty good to right?
Test one, test two, test three. We have three tests of support, we have a
lower high which could potentially be deployed for a stop loss if you know the Bitcoin breakout
trade. You can through your checklist yourself, but I love the series one more time and maybe
just consolidate a little bit longer to get that convergence of this MACD indicated rolling
over. It’s definitely one I’m watching right now
literally right now. Watching and see if I can get a trade over the next couple hours
there. Ripple again, coming across here you can see it has sold off and held very flat
there and Litecoin also following that trend. From my point of view, and there you can see
Litecoin here. A lovely little resistance, resistance, a lovely little support level
came in here yesterday. Now why did I not take that? Okay that’s why it was late at night. I was
stalking that yesterday. The reason I didn’t tell that lower high lower high at one test
two test three right, I was because I was bowling. I got beaten, which meant that my wife got
to go surfing in the morning and I had to stay with the kids, that was my loss. Didn’t
take the trade then and didn’t get the sleep in but such as life but nothing there for
me just now. So really Bitcoin holding around that 4000 if we do go lower, I really can
see it’s pushing down to new lows. I’ve got no, you know, emotional attachment
to Bitcoin making lower lows, again, there’s nothing really to hold it right now. 4000
goes, I think you might see those lows in the next week or so. On the other side if
we hold 4000 we might see a bit more of a move up. I don’t know what’s going to happen. I am
trading with the direction of the trend, which is bearish quite quite clearly right now.
And that’s what my plan is going to be. So guys, I hope you have a fantastic weekend.
We’ll touch base again next week. Cheers. Bye for now.

1 thought on “Bitcoin, $4,000 & IOTAUSD Support

Leave a Reply

Your email address will not be published. Required fields are marked *