Comments on: Ethereum Price Target Hit, Bitcoin Close

By: rsotc

rsotc — Tue, 22 Jun 2021 16:34:00 +0000

In reply to LanLord. Normally I would say 'yes' & it could although I'm not crazy about the chart of RIOT so while I often trade that stock as a proxy for Bitcoin, I'm preferring to go with ETCG, GBTC, & /BRR for a long-side bounce trade at this time.

By: LanLord

LanLord — Tue, 22 Jun 2021 16:30:38 +0000

In reply to rsotc. That should coincide with RIOT bottom?

By: rsotc

rsotc — Tue, 22 Jun 2021 15:30:01 +0000

Today's low in /BRR coincided with the low on GBTC when T3 (target & support) was hit, providing an objective long entry or opp. to close the short position. My current "max." bounce target is just below the 40914 resistance level with near-term targets/resistance levels shown at the arrow breaks.

By: rsotc

rsotc — Tue, 22 Jun 2021 15:27:15 +0000

In reply to LanLord. Sorry to hear if you were riding Bitcoin down & if you missed the short, there's always the next one. Here's the 60m chart of /BRR that was posted with the sell signal back on Feb 22nd & I'll post the updated 60-min chart with price targets for a long trade as a new comment for those interested in using Bitcoin futures for a long trade off that support. Positive divergences in place to boot.

By: LanLord

LanLord — Tue, 22 Jun 2021 14:53:48 +0000

How I wish I listened to your analysis back in March…