BTCUSD position Day 72 of 100DAYSOFTA

over 3 years ago

We now have the gap at 11640 filled and even we have a good dump as well. As price is current in the lower 11000 region. This is so might mean we have some gaps to fill below.
11640- Filled
10255, -Not yet
9955, -Not yet
9215 -Not yet
8840 USD. - Not yet

https://www.tradingview.com/x/GWrDdJWV/

This is my entry for the 100DAYSOFTA challenge, Wednesday 2nd September 2020.

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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
The support again has been tested and now it is acting well. It is a matter of time before we either break this support or just continue to use it without revisiting it again. This means that we are on a path of make or doom. The ST support at this 11100USD is so great that we can take a calculated risk without any recourse to regret. However, we should be mindful that there can still be more dumps.
Willy shows that it is resetting to the oversold region. This is however, not yet completed. This means we may see some days of more dump or sideways action. Also, the wavetrend indicator already had red dot, which means downward prices.

https://www.tradingview.com/x/Ifhj8FB9/
1h
On this TF the trend is short, which means we should be careful of any long position without appropriate risk managed. The trend is bearish and we should play it accordingly. The support here did not hold and it gave way. But the Willy is at oversold and it shows that the we may be close to reversal anytime soon. Also the wave trend indicator is tending bullish.

https://www.tradingview.com/x/iTdj8c54/
30 mins
Also, here we have short trend playing out. We already have an oversold condition in the Willy. Although the ST doesn't hold the price. Instead we flipped short. The price is at lower 11000 USD and we can either have a break down here to we get a bullish price action developing. Since we have oversold conditions playing out we should be expecting a relief bounce.