BTC IFTTT Strategy IMO
Got a wonderful note and I appreciate the comments. I apologies for missing the past week but I was lecturing in Baltimore and visited DC. Also my last weeks strategy held true so my months goal was already done. Small vacation keeps your mind fresh for watching charts.
Anyways just my opinion here for the upcoming days / weeks:
All strategies really comes down to IFTTT (If This Then That ) statements.
For a mid month to end of month strategy - Seems BTC is failing on breaking the 10k resistance, which I will probably wait until it breaks the 10,250 level before I reenter with a longer term position. Sentiment seems to grow that its undervalued but bigger players shorting larger positions is making this breakout harder. Also making TA difficult to use for strategy at times. But I just to what market shows me.
IF pattern continues down and breaks some key support levels
THEN I will likely short and return at much lower support level at 7.3 or even 6.8k. especially if it follows my suspected ABCD Pattern to 7.3k
If breakout happens, I will likely wait until it demolishes 10k resistance but also keeping in mind much bigger resistance at 11.8k / 12k.
I'd be looking for lightning network nodes and an official news that Lightning is fully implemented in most addresses / exchanges. This might offer the best "hype" to drive price up. Either way I am still long on BTC but will scalp for fiat to keep the lights on. :P
This pattern might be similar to last year where end of month bear resulted in very green April and May.
Also if you have time, what do you think of coinmarketcaps and similar websites like it? As a trader do you like the layout or design of the site? Would you rather have ads or no ads? I am frustrated with sites like them and just trying to get a feel of what are good "spot" check websites where I can quickly see price actions. Hope this entertained you. Cheers everyone. Happy Trading.
Anyways just my opinion here for the upcoming days / weeks:
All strategies really comes down to IFTTT (If This Then That ) statements.
For a mid month to end of month strategy - Seems BTC is failing on breaking the 10k resistance, which I will probably wait until it breaks the 10,250 level before I reenter with a longer term position. Sentiment seems to grow that its undervalued but bigger players shorting larger positions is making this breakout harder. Also making TA difficult to use for strategy at times. But I just to what market shows me.
IF pattern continues down and breaks some key support levels
THEN I will likely short and return at much lower support level at 7.3 or even 6.8k. especially if it follows my suspected ABCD Pattern to 7.3k
If breakout happens, I will likely wait until it demolishes 10k resistance but also keeping in mind much bigger resistance at 11.8k / 12k.
I'd be looking for lightning network nodes and an official news that Lightning is fully implemented in most addresses / exchanges. This might offer the best "hype" to drive price up. Either way I am still long on BTC but will scalp for fiat to keep the lights on. :P
This pattern might be similar to last year where end of month bear resulted in very green April and May.
Also if you have time, what do you think of coinmarketcaps and similar websites like it? As a trader do you like the layout or design of the site? Would you rather have ads or no ads? I am frustrated with sites like them and just trying to get a feel of what are good "spot" check websites where I can quickly see price actions. Hope this entertained you. Cheers everyone. Happy Trading.
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