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BTC Trade Analysis 4/4-4/8
Trade Ideas & Technical Chart Analysis
What is up everyone!
BTC- Concluding Yet Another Bearish Retracement: If you saw our last entry 3 days ago, we drew a chart which had the exact short term bottom and top. All my trades and analysis are based off probability, no trader can claim they can predict the market because “Anything is possible”. With that said, you can see it here.
Price is currently trading the below the 6800 support now turned resistance. Traders should look for any bounces testing the 7k and 7100 resistance levels. We will look to short there. If price gains momentum and tests 7500 we will reevaluate our bearish bias. If price fails to make it near 7000 we can look to short when support breaks. This will allow us to take full advantage of long liquidations and panic. Remember sometimes actually going with the herd and following huge moves in the market can be the contrarian thing to do, because everybody else is looking to bet against the move. We have been on a nice streak lately, so no need to over expose our-self on this gameplan. “Don’t try to guess tops or bottoms. Let the market show you that it has genuinely made a top or bottom”.
IOST- Still moving upward with recent binance news.
Traders can look for a pullback/ take some profit. Our next target is near 460-470 satoshis. So far we are up 40% from this coin. Which is very nice based on the current market conditions.
I am in the process of creating a free beginner altcoin strategy guide and adding another section to the website. So stay tuned for that. I have a lot of grinding to do.
Want More Trade Setups Ideas & Analysis? Now that the website is fully functioning I have a treat for my newsletter subscribers. You can sign up here, we will discuss potential trade setups and provide detailed chart analysis on major altcoins, and bitcoin.