Crypto Chartbook – Pre-Holiday Opportunity Timing

Pre-holiday opportunity timing

We pointed out risk, reward and psychological abnormalities of pre-holiday trading in our previous chartbook. One always should reduce size for this sort of trading. Taking part if opportunity presents itself in pre-holiday trading can be very rewarding. Weekly charts show low risk and in favor to take a position. This chartbook will guide on the various timing possibilities on how to enter into this holiday setup: pre-holiday opportunity timing.

 Weekly chart, BTC/USDT, December 19th, 2019, “good risk-reward ratios”:

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Bitcoin in TetherUS, weekly chart as of December 19th, 2019 a

This weekly historical chart illustrates opportunity. Always after brief four to five weekly double bottoms bitcoin has seen positive advancements in price. 

Pre-holiday opportunity timing, BTC/USDT, weekly chart, December 19th, 2019, “good support”:

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Bitcoin in TetherUS, weekly chart as of December 19th, 2019 b

One chance to be on board is waiting for this week to close as a green candle. If we should be that lucky an entry at the open of the next weekly candle would be suitable for a long term holding.

Prices having rejected the green band of a supply-demand zone strongly and point towards a reversal.

BTC/USDT, weekly chart, 12/19/2019, “the weekend play”:

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Bitcoin in TetherUS, weekly chart as of December 19th, 2019 c

For those readers who trade anticipated versus confirmed, there is also a more immediate play. With prices trading in the upper range of the last weekly bar one can risk an immediate entry into the unfinished bar as well. For this we need to stack odds on lower time frames:

12/19/2019, BTC/USDT, daily chart, “entry fine-tuning”:

(Click on image to enlarge)

Bitcoin in TetherUS, daily chart as of December 19th, 2019

Prices shooting through the entire range (dotted horizontal purple lines) on the 18th of this month promise strength. The 19th being a natural pause day after this action points towards Friday the 20th (and following) days to be prosper entry days at the open of the new bars.

Pre-holiday opportunity timing:

Never force a trade. Never take a trade one does not feel comfortable with. In case recent chart books and their pointed out stacked odds of mid to end December trading resonates with your own approach, then the above entries might be of interest for your confirmations. Always trade half size or less on trading abnormalities like these.