Richard Temple
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TA | Market Thoughts

Owner: @Richardily

Twitter: https://twitter.com/Temple_Crypto
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๐Ÿ“™ #IOST has broken through the ascending triangle + retested it from above! Buying before we break through the descending resistance!

https://twitter.com/Temple_Crypto/status/1367388426669064193
Placing the stop-loss on all open positions in the break even area!!!
Altcoins that have closed in the break even area:
๐Ÿšš #ZIL
โ˜„๏ธ #ATOM
๐Ÿ“™ #IOST
๐Ÿ“ #NEO
๐Ÿ— #TRB
๐Ÿ‘€ #BNB
๐ŸŽฑ #DOT
Altcoins that have NOT closed in the break even area:
๐Ÿž #RLC
๐Ÿฎ #CRV
๐ŸŽซ #SNX
๐ŸŽด #RSR
๐Ÿ #BTC Today we are going to talk about Bitcoin! I have noticed that many of you are interested in the question of where to sell Bitcoin, considering that the price will continue growing and will update the high. The only possibility to find resistance level during price discovery is to place the Fibonacci net. In this case we are observing a rather logical picture with resistance in the area of $68k - $72k โ€” area where most people expect the price to go to.

The Fibonacci net, by the way, is placed on the entire trend until 2018, meaning from $2.82 to $19891.99

https://twitter.com/Temple_Crypto/status/1368109101998301186?s=19
Richard Temple
๐Ÿ #BTC Interestingly enough, looking at the weekly chart, in April we should be in the are of $160k - $170k. https://twitter.com/Temple_Crypto/status/1368142436766277633?s=19
๐Ÿ #BTC Based on the 3d chart, we are located in the correction of the 3-4 wave 1-5 that started from $18k with the trend finishing at $71k. If we see a drop to 38k, then it is still profitable to buy! Target is 71k from the wave analysis!

https://twitter.com/Temple_Crypto/status/1368156885900230656?s=19
Richard Temple
๐Ÿ #BTC Based on the 3d chart, we are located in the correction of the 3-4 wave 1-5 that started from $18k with the trend finishing at $71k. If we see a drop to 38k, then it is still profitable to buy! Target is 71k from the wave analysis! https://twitterโ€ฆ
๐Ÿ #BTC On small time frames we can see two clear patterns - Head and Shoulders, inverse Head and Shoulders.

Question time! Where is the local priority?

The answer is rather simple and logical!

If the price absorbs the level of 47k, then the priority becomes descending and the price is headed for the double bottom!

If the price goes into the flat or absorbs 50k, then the priority is ascending, since the Head and Shoulders pattern breaks and the inverse pattern remains. Inverse Head and Shoulders target - 58k.

Conclusion based on the local observation: for now it is profitable to hold long positions with stop-losses under 47k and averaging orders at about 48k. Targets are 52k and 58k.

https://twitter.com/Temple_Crypto/status/1368199039515308039?s=19
Richard Temple
๐Ÿ #BTC On small time frames we can see two clear patterns - Head and Shoulders, inverse Head and Shoulders. Question time! Where is the local priority? The answer is rather simple and logical! If the price absorbs the level of 47k, then the priority becomesโ€ฆ
๐Ÿ #BTC Conclusion from the general perspective"

Bitcoin is undoubtedly in the bullish market. Everything points to the price going to 60k - 70k. If the price goes down, then it is a reason to increase the position right up to 38k.

On altcoins it is profitable to open positions that might increase the amount of Bitcoin. You can trade with leverage paired to the dollar, in that case the amount of dollars will increase more, than if they were just being held in Bitcoin.

https://twitter.com/Temple_Crypto/status/1368215497305698305?s=19
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๐Ÿค– #SXP Dammit, we are going to be late for the train!! The price has already broken through the resistance.

Buying for the market price + placing an averaging order on the retest level!

https://twitter.com/Temple_Crypto/status/1368452536517165059
๐Ÿšก #DUSK Buying to hold! + will buy more on the support of the ascending triangle

https://twitter.com/Temple_Crypto/status/1368483877065474049
Forwarded from Richard Temple
๐Ÿ›กLetโ€™s talk about Stop orders.

โ— In the most cases Stop orders are soft(mental) when you trade #BTC, #ETH or Altcoins on your setup timeframe. It means that Stop order actives when the candle closes below the level of closing transaction. Then, the position closes when the price return to this level. By the way, it would be better to set an alert on the stop order level on TradingView.

โ— For example, there is a BTC setup. In case of the daily UTC candle closing below the stop level, you should wait for the price came back to the stop and sell your active there.
or
โ— You see an Altcoin setup on 1H chart. In case of the 1H candle closes below SL, similarly, you wait for the price came back and close the transaction.

โ— Thus you will be insured against hunting of Stop Losses. Most of the time, the market gives an opportunity to close a position without a great loss. Itโ€™s uncommon that the movement is so strong and you are forced to fix a double loss. However, it minimizes fake hunting of SLs. In sum, using soft stop order is more efficient strategy for a long-term trade than the hard stop orders.
Richard Temple
๐Ÿ #BTC Going upwards, the absorption of 47k did not occur, more than that - we saw a rejection! This is definitely reason for long! Hold Bitcoins - this is profitable! https://twitter.com/Temple_Crypto/status/1368512609608232960
๐Ÿ #BTC The absorption of 50k has occurred. The breakthrough of the neck level at 52k is left.

For now the price is being traded above the important support of $49450, the absorption of which, with it being traded downwards, might cause the inverse H&S to break and also might bring the continuation of the flat or even cause the price to go down.

https://twitter.com/Temple_Crypto/status/1368828430553407489