![day 110.png](https://cdn.steemitimages.com/DQmQuW52x75VKLfmNPKqvgtKrKbJnQMCTk2domi2nBcoShR/day%20110.png)
*Disclaimer: This is not meant as financial advice and is for entertainment purposes only.*

[Two days ago](https://steemit.com/bitcoin/@sawcruhteez/btc-usd-4-hour-chart-daily-update-day-108) I made a nice call that had me feeling very prepared for the price pump we got [yesterday:](https://steemit.com/bitcoin/@sawcruhteez/btc-usd-4-hour-chart-daily-update-day-109) 

*“I firmly believe that a short term bottom lies somewhere in the range of $5,964 - $6,123. From there I expect to see a 1-7 day rally that retests the short term daily [EMA’s](https://www.investopedia.com/terms/e/ema.asp) (12 & 26). If not currently in a trade then I strongly advise against opening a bearish position right now. Wait for the bounce, and/or multiple days of consolidation.”*

I was tweeting like a mad man all day saying to sell BTC:USD, ETH:USD, ETH:BTC, and LTC:BTC. In the daily update I outlined those positions ahead of time so that there would be plenty of time for anyone who wanted to position themselves accordingly (refer to to [day 107](https://steemit.com/bitcoin/@sawcruhteez/btc-usd-4-hour-chart-daily-update-day-107)). 

From here it is still possible to see the pump continue for another 1-5 days. The price is currently being squeezed in between the 12 & 26 period EMA’s and they could make a bullish crossover in the next day or so. 

That would create a third higher low and would likely send the price right back to $7,000. If we get a close below the 26 period EMA , or the price falls below $6,350, then I would fully expect this pump to be over. 

**Entries** 

If you are not in a position then there are a few options still on the table. 

1) Scale into a short or out of spot at upcoming levels of resistance - $6,950 | $7,150 
2) Short or sell spot as soon as the price falls below $6,300 
3) Short alts vs BTC - LTC is forming a bear flag after breaking down a major level of support 

**Stop Loss**

My philosophy about trading is a simple one. I believe I first learned the sentiment from [@PeterLBrandt](https://twitter.com/PeterLBrandt) on Twitter. 

*‘Diligently manage stop losses and let the profits take care of themselves.’* 

I am using [Bill Williams Fractals](https://www.youtube.com/watch?v=k7_H7D4i_fk) on the daily chart in order to actively manage my stop losses: 

BTC:USD - $7,776 
ETH:USD - $618 
ETH:BTC - 0.0815 
LTC:BTC - 0.01601 

The stop losses will be moved down once a new up fractal prints. 

It doesn’t appear that the [ruling from the SEC](https://globalcoinreport.com/sec-director-says-ethereum-eth-is-not-a-security-setting-precedence-for-xrp-ruling/) will have an impact on the technicals. ETH:USD and ETH:BTC got a nice green candle immediately following the news, but turned around right where the trend suggested. 

![ethbtc.png](https://cdn.steemitimages.com/DQmNxQa3TtTWZwNfqE3dwWDETYuSVAVMakLx4gY88ZFZdxn/ethbtc.png)

*Thank you for your time! Be sure to **comment** if you have something to say! Smash the **like** if you found this helpful! Click **follow** so that you won’t miss out on future updates!*

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*After content like that, who wouldn't want more?*

Yesterday's Post - [BTC:USD 4 hour chart DAILY UPDATE (day 109)](https://steemit.com/bitcoin/@sawcruhteez/btc-usd-4-hour-chart-daily-update-day-109)

Personal Challenge - [0.1 > 1 BTC Trading Challenge - Day 96](https://steemit.com/trading/@sawcruhteez/btc-trading-challenge-day-96-0-07808-btc)

Weekly Gold Update - [Week #14](https://steemit.com/investing/@sawcruhteez/gold-bubble-weekly-update-14)

School - [Intermediate Trading Strategy](https://steemit.com/trading/@sawcruhteez/3vrtmx-intermediate-trading-strategy) | [White Paper Cliff Notes: AION](https://steemit.com/trading/@sawcruhteez/white-paper-cliff-notes-aion) | [Intro to Indicators: Stochastic](https://steemit.com/trading/@sawcruhteez/intro-to-indicators) | [Bitcoin Market Cycle](https://steemit.com/trading/@sawcruhteez/bitcoin-market-cycle)

Need a break? Read some Poetry! - [I Believe](https://steemit.com/poetry/@sawcruhteez/i-believe) | [Aliens](https://steemit.com/poetry/@sawcruhteez/aliens) | [The Universe is a Hologram](https://steemit.com/poetry/@sawcruhteez/the-universe-is-a-hologram) | [Sunset](https://steemit.com/poetry/@sawcruhteez/sunset)