[BTC market analysis] A crash at Sanson! Selling successfully from $12000! Commentary on the market psychology of Sanson [2020/8/31-9/6]
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Last week's Bitcoin quote review
We will analyze and review the market price of BTC/USD from June 8st to June 31th.
Last week's highlights
Looking back over the past week, the points I would like to pay attention to areI made a Sanson ceiling and it crashedThat's the point.
The above image is an hourly chart of BTC USD.
Last week I was aiming for a fall from Sanson, but the technical effect worked perfectly, causing a scenario-like crash.
Since 12000 dollars is a conscious turning point line, I was aiming for a short by the repulsion there.
For a detailed explanation of the short entry for $12000, please refer to the article on September 9nd.
Then, after making a short entry at $12000, it began to fall at a tremendous rate, and at the stage of September 9, it returned to the milestone of $4.
We thought the $10000 wall was solid, so we are taking 50% (half) of our position.
Please refer to the article on September 9 for a detailed explanation of profitability.
This trade was very easy to do because there were three beautiful sons.
Sanson/Reverse SansonEssence of the marketIt is a very useful technical technique, so I would like you to master it.
Market psychology of Sanson/Reverse Sanson
Today"Sanson/Reverse Sanson Market Psychology"I would like to introduce.
By the way, last week's article"Risk reward concept"I will explain it under the theme, so please refer to it as well.
The image above shows the psychological state of the trader when Sanson is created.
First of all, when Sanson comes outA sign that the trend is changing.
It appears when the upward trend, which has been continuing for a long time, has ended, and it has turned to a downward trend.
And thatIf you can make an entry in the first move of the trend change, you can earn a large price rangeTherefore, this is a technique I would like to learn.
There are two important points in Sanson.
① Whether the neckline is functioning
② Whether the shoulders are aligned
As you can see in the image, it is easy to place sell orders near the neckline.
The selling orders are roughly divided into the following three types.
・Profit selling order of buyer
・Loss cut sell order
・New selling order of selling method
I will explain with an actual Bitcoin chart.
Profit sell order for buyers will be the profit of the person who buys at the cheap position.
If you bought it for $10000, as shown in (11200) of the image, there is a high tendency to place a profitable order near $XNUMX.
A Buy Stop Loss order is a Sell order that a person long at a rate above $11200 will make a stop loss if they break below the $11200 neckline.
And the new selling order of the selling method is the selling order of the shorter who wants to sell a new one when it falls below $11200.
Overlapping of these three market sentiments, if the neckline breaks below $3, a sell order is filled at once, causing a crash.
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Outlook this week
I will explain the market outlook for this week.
First, please see the 4-hour bar below.
First, it dropped from Sanson, but when you look at the waveform, you can see that it is creating Elliott wave.
Sanson right shoulder rebounded by Fibo 61.8% return → decline.
It has stopped lowering at $10000, but if you look closely it is at the Fibo 200% position.
It may still go down, but the 4th adjustment wave may come from here.
I personally have a short position from $12000, so I will continue to hold it.
The points I want to pay attention to this week areWhether the $11200 neckline will switch to cash register support.
It is not possible to enter a new entry at this time, but for the moment I will watch the selling position.
This is the end of this week's market price analysis and review.
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[Women's association member who wrote this article]
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