Bitcoin 4hr 10/3/2019

Bitcoin 4hr 10/3/2019
Bitcoin / TetherUS BINANCE:BTCUSDT
HeisenbergBTC

Im taking a look at the 4hr chart this a.m. and seeing what it has to tell me today. We are still cruising along at around 8300 which coincidentally is the .786 fib on this chart. Fibonacci is an amazing tool. This particular fib started off as support after the drop from 10k and provided support until we fell below the .786 fib turning it from support to resistance. We stayed under the .786 fib for a bit but we eventually broke back above it flipping the fib back into support. Another piece of good news is we somehow managed to get above that 50 MA (orange line) on the chart recently which is bullish . We are sitting on the edge of the cloud as I type. Entering the cloud is not bullish but its better than being underneath the cloud. (Being under the cloud is bearish ) Sometimes the candles wont enter the cloud when they approach the cloud and will instead opt to follow the perimeter of the cloud which in this case would send us to around 8k within the next few candles. The cloud is a great indicator. I see a bull pennant forming that may send us up to the fib above us (.618 fib which is at 8700) If you do wanna play this pattern I suggest buying and setting a stop loss immediately. A well placed stop loss can minimize the risk almost entirely. Play it smart. We were just inside a huge pattern that looked similar to this small pennant and even though it was in an uptrend it still broke down. I had bought some BTC before we dropped but I set a SL (USDT) and when it broke down instead of up my SL tripped and I went into USDT which allowed me to profit off the drop . If it would have risen instead of falling like it did I would have gotten profit from the rise as well. Trading is about minimizing risks where possible and in my case I pretty much eliminated the risk entirely. That is how Im playing this small pennant as well. This isnt financial advice and it is virtually impossible to eliminate risk from trading entirely. The Bolinger bands are tightening up more. We will likely see some movement very soon judging from the way the Bolinger bands look. Daily volume as of right now is at $12,701,080,488 which isnt a good sign. We are dropping as far as daily volume is concerned and that isnt bullish at all. Bitcoin dominance is sitting at 69.86% according to TradingView. I guess alts really do follow BTC . Otherwise BTC dominance would not stay at 70%. There are some bullish signs and there are some bearish signs. If you are going to take a position at this time please be smart and set a stop loss. Especially if you cant watch the charts 24 hours a day. The day we dropped from 10k down to like 7800 I was watching some videos on Reddit (revenge videos) and I looked at the TradingView tab and bam! We were dropping fast. It happens too fast sometimes. Even if you are at your CPU it can still surprise you so be smart. Avoid risk when you can. But WTFDIK?