TAKING MY CHANCE TO GET BACK INTO BOTH BITCOIN AND LITECOIN
Coin Telegraph
GOOD EVENING STEEMIT!
I'm back in front of my desktop computer today, so can throw out some better charts. I've been loving how easy it's been to quickly share and post my charts and thoughts via my iPhone, but I know it's just not the same for detail.
It's also been a while since I've posted about Big Daddy Bitcoin and my old lover in Litecoin. This is pretty much down to the fact that I dumped most of my big Bitcoin holdings as we headed into Futures trading (yeah, ouch...) expecting a correction. A correction that of course never came, meaning I've been sort of stuck locked out of the party.
With the BTC price today pulling back on technicals and some ridiculous B-Cash chat, I'm taking this as a chance to get back in.
Take a look at Bitcoin:
BTC/USD Daily
The higher time frame sees price pulling back into the only daily red candles that could be perceived as resistance, for a mighty long time.
If you know my trading style, it's all about having higher time frame support holding for me to buy and this looks like one of those spots.
BTC/USD Hourly
Zooming into an intraday chart, you can really see the previous resistance level that we're looking to turn to support.
The opportunity is there, so I'm taking it.
But don't forget Litecoin:
LTC/USD Hourly
I got this idea from @furious-one's latest blog and really like the pattern.
The intraday chart shows a nice ascending triangle break out and then a possible retest of previous resistance as support.
If this level holds, it will also be a nice trade.
Have a great day guys and don't panic sell on the pullback! Accumulate.
Peace.
Instagram: @forexbrokr
Website: www.forexbrokr.com
"Big Daddy Bitcoin", love that :)
After BCH got listed on Coinbase & GDAX now we might see an even higher decrease of the BTC price due to the FOMO making people switch eventually .
Expecting the same B-Cash pump and dump that we seem to always see.
Bitcoin is Bitcoin and always will be. Buying the dip.
BTC is the solid rock holding it all together!
Now it should go up, up, up! Both Litecoin and Bitcoin.
Cheers!
Just highlighting good quality levels to manage risk around on pullbacks ;)
mhm.. bitcoin is still falling... down
Buyers are certainly reacting at the levels I've marked. Happy to be in again here.
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STOPI expected bitcoin will rise for a few more months at least. But your post really made me be sure I have to buy some more of it. Thanks!
Maybe there should have been a 'this is not investment advice' warning in my post...
Just giving good levels and sharing my thoughts on Bitcoin openly.
Most importantly, make sure that you manage your risk! :)