NOTE: Any experienced trader knows it is extremely hard to call tops and bottoms and impossible to guarantee — all we can do is build the strongest case possible and assess the probabilities. We may present 10 of these bottom trades before it pays off — OR this one could be right — the key is you can trade them all and be profitable for the long-term if you TRADE SAFE.
The current set up described in great detail below as MODERATE PROBABILITY–there are red flags but there will always be red flags…..
What is HIGH PROBABILITY is that you can set up SAFE TRADES ST/IT for both BTC and Altcoins with the current set up and the risk/return ratio makes it worth doing so.
But let’s be crystal clear — YOU CAN LOSE MONEY EVEN ON A SAFE TRADE. You must be okay accepting losses to win in the trading game long-term (and we know many subs are!)
HERE’S THE “SAFE BOTTOM TRADE” Details with key charts BTC and ETH
NOTE: Bullish for altcoins that ETH is now showing the same “stealth” bullish signs we’ve been showing in other altcoins–but remember NOTHING IS CONFIRMED — so be careful with position sizes and absolutely honor all stop loss / exit strategies for ST/IT Funds.
Yesterday’s strong fall for BTC (and altcoins though not the exact same set up) is being blamed on Binance, the SEC and all sorts of other news.
We believe that the news follows the charts and can often offer great trade opportunities if you know key price levels — or put another way — the fall is because THEY wanted it to fall….
From a technical standpoint it was another retest of the critically key 9500 key target range I shared with you in our prior analysis. You’ll notice the close yesterday was $9925 after a drop below the critical $9500 level with very high volume — looks incredibly bearish — exactly what THEY want you to think….
Then today (after 5 PM PST) the 9500 range was tested again low of $9510 — but this time ON LIGHTER VOLUME–this is called a retest and showed there were fewer sellers at the key target range.
That technical analysis plus wave patterns confirming (which they do–can send you info on this if interested) are all signs of THE BOTTOM
While nothing is guaranteed — this set up presents a potential highly profitable and more importantly SAFE trading opportunity where you can enter trades using yesterday’s low as a stop (or a slightly higher probability stop of the prior low –see charts)
The first target is $12000 and that would also be a breakout of a bullish pattern with a target of $17000 — we want to watch for increasing volume if/when we get back to $12000 and beyond–that’s a confirmation we are in a new bullish wave.
AS FOR ALTCOINS
They have a different set up but interestingly they are now similarly bullish to BTC and can be traded the same way (this refers to large cap altcoins – generally the ones that trade in USDT on poloniex). We show ETH in the charts below as we believe ETH is the altcoin leader and has a high probability of being part of any significant bullish move for altcoins.
Note that nearly all large altcoins show the same set up (“in sync” supports the bull case) and we have seen stronger price action from XMR and STR than ETH so be sure you study which altcoins make the most sense for your trading strategies!
4 CHARTS THE KING BTC AND THE QUEEN ALTCOIN ETH– READY TO DANCE?
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