Loon
Early Adopter: Recognition for being an early adopter and trailblazer on Crypto Parrot
@RonnyLoonyToons
Joined May 2022
Toronto, Canada
I'm using Crypto Parrot as my trading journal, just because.
though bear has formed, needs bear volume. BTC is in an ascending channel and triangle, common sideways action. good trends for small percentage trades. "trend is your friend (until it's not). note, I wouldn't have more than one BTC trade in real trading. But I would have 1 long 10X leverage trade set right now, with a tight stop loss below the ascending channel, say 29,500. Because if S&P 500 drops for the day (which BTC is coupled to), and BTC breaks trend, breaks down, then BTC will fall sharply, the length of the bear pole, which measures 30%. This would drop BTC down into the 20,000 range, bottom of the macro logarithmic chart (into the crypto verse), and, depending on traditional markets and FUD, should be the bottom's bottom. The macro bottom on the decade-long trend chart.
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Loon
though bear FLAG has formed, meant
18 May, 2022
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Loon
and we broke the uptrend, looks like
18 May, 2022
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Loon
selling everything
18 May, 2022
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Loon
for the record, in the real world, I would have closed ONE long trade, taken a small loss ... and I would have opened a short trade
18 May, 2022
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Loon
BTC is waiting for market open in 34 minutes, particularly the P&P 500 and NASDAQ 100
18 May, 2022
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stock market closed, BTC moving up in ascending channel; fractal, moving up symmetrical triangle, believe price action will run for a bit
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Loon
closed position early, basically took the $500 profit and bailed. why? no volume, and that 20,000 bottom is weighing heavily on me. also, always have the S&P500 charts open during intraday trading, BTC coupled to it. The day close down here is 30063.5 (ByBit Price Chart), acting as both support and resistance since MAY 9. There's also a bear flag pattern, meaning BTC could drop off a cliff on weekend, Sunday Bloody Sunday, in particular. Bottom line, I'm bearish; making profits on small .07-1.5% trades lately. I'm not in a swing trade, currently, which is odd. Usually, I'm either in a long or short position with a tight stop loss. Again, if you look at the macro logarithmic chart for BTC, draw a curve, easy to see the bottom, 20,000. And always look at the 1 week BTC chart with Heikin Ashi candles, good for setting up LARGE swing trades ... where the money is.
17 May, 2022
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Loon
won't go long until price action settles above the last higher high 4-hour candle close of 31, 315.5. But I'm not placing a conditional order at that price; instead, play it by ear. There are always corrections/pullbacks, traders taking profit etc.
17 May, 2022
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