BTCUSD position Day 76 of 100DAYSOFTA

turpsy (62)in Steem Africa • 4 years ago

New gaps are on the CME charts and the prices are below. This means somehow in the future we will fill these gaps.
10720- Not yet
10540 - Not yet
10420- Not yet
10380, -Not yet
10125- Not yet
9215 -Not yet
8840 USD. - Not yet

https://www.tradingview.com/x/P6bGsGAU/

This is my entry for the 100DAYSOFTA challenge, Sunday 15th September 2020.

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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP*
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
The perfect situation to use ST has presented itself. This is; wait for a trend reversal before taking an action. We have the long showing up now. This means we should look at longing BTC. But this will be done at a price that is reasonable low. However, the invalidation price is at 9900 USD. This means we can get fairly dump in price before any major uptrend again. Also, we need to wait for Willy to reset and the wave trend to give us a buy signal on this TF. As it is now, we need to wait.

https://www.tradingview.com/x/bW9Lfi93/
1h
The ST is long on this TF which gives us a better idea that we can lookout for a long play. However, we need to know that the invalidation level is at 10350 USD. This means if the price should break this level and close below, the trend will be short. Right now, Willy looks undecided and the wave trend is still developing. Therefore we should wait for more price action.

https://www.tradingview.com/x/tiAiQDbr/
30 mins
The price action here is giving us a long set up. The supertrend is long and the price shows that we may have some retracement. The support is at 10600 USD and if we break it we will change the trend. The Willy is still showing a kind of bearish setup. Also, the wave trend is still building up.