Daily Bias: Bearish
4H Bias: Bearish
Risk: 0.25%
BTC is tanking, with a retracement nowhere to be seen.
Like any good gambler, I beleive it's "Due".
Currently at a strong daily demand level, weak buyback.
I spoke last night about how I could see us heading to the 37000 4H demand level, a very strong, retested zone that was the origin of a big run up. as well as a solid EQ level on the 4H and possibly even dailys.
THis would allow MM to sweep the longs off 38, a highly touted level of support for some time now.
It would also give Bullish Divergence on the 4h cci if we were to soon keel over and head there.
R:R is enormous, 3.8 to my first target (Based on assumed fibs),
5.1 to my second.
4H Bias: Bearish
Risk: 0.25%
BTC is tanking, with a retracement nowhere to be seen.
Like any good gambler, I beleive it's "Due".
Currently at a strong daily demand level, weak buyback.
I spoke last night about how I could see us heading to the 37000 4H demand level, a very strong, retested zone that was the origin of a big run up. as well as a solid EQ level on the 4H and possibly even dailys.
THis would allow MM to sweep the longs off 38, a highly touted level of support for some time now.
It would also give Bullish Divergence on the 4h cci if we were to soon keel over and head there.
R:R is enormous, 3.8 to my first target (Based on assumed fibs),
5.1 to my second.