BTCUSD position Day 83 of 100DAYSOFTA

turpsy (62)in Steem Africa • 4 years ago

The price on the CME futures has been making some lower highs. However we have a gap at around
11210- To be filled
10125- Not yet
9215 -Not yet
8840 USD. - Not yet

https://www.tradingview.com/x/iqmhtX6z/

This is my entry for the 100DAYSOFTA challenge, Thursday 15th October 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 trend is bullish right now, which means that we should play along game. However, the best way to play it is to wait for the Willy to be oversold, and then we can take a shot. Right now, Willy is oversold which means we may be looking at longing this price. In this trend we have the invalidation to be at 10900. Therefore unless we close below 10900 USD, we are still in the bullish territory. This is the probable scenerio here.

https://www.tradingview.com/x/jq96GpHK/
1h
On this Timeframe, we have a bullish trend, which means the price is meant to go up. However, the Willy is at overbought, whereas might see a red dot on the wavetrend. The trend is bullish until we close below 11280 USD.

https://www.tradingview.com/x/4oG1oafP/
30 mins
On this TF we have a short trend. This means we can expect the price to retrace at 11450 USD, which is the invalidation point. However, Willy is at the overbought region. This means we can expect a dump soon. Also, we have a bearish red dot on the wave trend.