BITCOIN ₿ Short or Long Now? – 18.07.2019 – BTC Technical Analysis & Targets ₿ VIRES IN NUMERIS



hello everyone and thanks for tuning back in Alessandra Decrypter here I hope you're doing all fine so before we start as usual I'm not a financial advisor and all the content and information in this video is my own opinion Mio market observation so let's dive straight into the four hour time frame because as you can see we are back in this main channel that we were in the last couple of weeks so it looks like that we might forming something similar down here like we did here on the top so the question is are we gonna see here another bounce the upside andreat has the main resistance up here at 13,000 so that we were gonna stay within this channel or are we seeing this big correction that we are waiting for so long so here it looks like that their previous resistance now is acting as support and we are kind of creating this rising wedge the question is only are we able to break here through and go straight up to above the 10k line or not because here if you look on the daily timeframe you can see that we are struggling to get hit through the 50 daily moving average and although if we would break this line here the 20 daily would probably act as the next resistance at ten thousand $750 so here in the daily if you look at the stochastic it's already over sold since quite some time and although the RSI is lining up with the 50 so here it looks bullish it looks like the price want to go up again but as long as we are not recovering above the 50 and the 20 right now it looks more that the trend is going again to the downside and not to the upside here in the four-hour we are also not even able to break it a 24 hour moving average so we need to go above this line here in order to get bullish momentum here to the upside the thing is that here in the 4 hour we are almost overboard already and also the RSI is trading below the 50 so it's trading on the bearish side so I'm not in a trade right now but if I would trade I would probably open our short position somewhere around here so the price now is not too bad to open our short in my opinion although if you look here on the Long's and shorts we still have such a low amount of shorts right now so if the market dumps right now all these Long's you would get liquidated so it is very risky right now I think too long but since we are in the bottom here of this main channel it's looking like a perfect opportunity to long here and right this wing up like we did here before many times already even if you look here on the weekly time frame you can see that we are still within this main channel and that we have a similar situation like we had over here so although here it looked like that we probably gonna fall here to the downside and test the 20 weekly moving average but we didn't we just continued the parabolic move to the upside so we could see something similar although here but since we now already touched important point 6 1 8 Fibonacci line at almost 14,000 up here it is very likely that the correction is starting now so this could be the time that we go down to test here the 20 weekly at around 8 K right now so if you want to go short here I think you should go with a very low leverage and a very small amount because it is risky to short here the bottom if you would have showed it somewhere here the top then ok you would have much less risk because a pullback to the downside is very likely but here a pullback to the upside it is even more likely also because if you look at the futures gaps we have here another gap opened let's see here in the four-hour time frame it is up here to $11,700 so we could go up there see the pullback up there and then continue the dump so if you want to open a short I think 9900 to 10 K is not a bad entry but if you really want to be safe then I would wait to trade this right now or at least if we're gonna fill this gap over here first then open here a short but right now it's like really 50/50 to go up or down and the problem is if you go with leverage in here the move from 9900 up to 11,700 would probably liquidate you or stop you out if you don't put here another trading so what I'm gonna do is I'm gonna open a small small short position at 10k let's say we want to do it exactly 10k and with 10x leverage so you can see here the cost how much this trade would cost me 0.005 bitcoins it's like the half of what I have here it's a very small amount but since I don't want to go to a high risk with this trade that's okay for me so let's go short I don't put a stop loss or take profit right now here you see the order details and also the liquidation price that they're gonna have which is here around $11,000 so I would need to put another trade around $11,000 another short over there in order to not get liquidate if the price really is going first up to close this future gap up to eleven thousand seven hundred so let's confirm that so the trade is in and here you can see all the details of the trade so if the price goes to 10k it will get executed and then I can start to set the stop loss and also the trade just before the liquidation price and if you also want to trade on by whit you can go to my video description there you find an invitation code so you can get $10.00 free of Bitcoin immediately and with that sack guys are gonna wrap it up for now if you like the content please give it a like subscribe to the channel take the little bell and we see us all in the next one bye you

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