Dare we dream? On Bitcoin . I'm a recovering pessimist, but old habits die hard, so I don't favour this right now. I am more partial to a move down (not too far), but this would be the bullish scenario if the bulls just steamroll the bears after that bounce off the 200 weekly MA. From 22870-27000 (range high includes a 27-28K profit target). This also closes the CME gap, so there's that.
I would actually be in favour of a slightly more bearish scenario, but just posting this because it is possible. I lean more towards a move slightly lower down from here into the mid to low 22Ks (say 22100-500) prior to a move higher, but I am posting this because it is a possibility from here. Also fair warning, I don't really us a lot of Elliot Wave. Also supporting the "slightly more bearish scenario" would involve a trip down into the mid-to-low 22Ks which would likely lure in more bears (late bears) to short, and set up a possible bear trap, and use their money to catapult us higher. I might draw this out, but I don't think I need to atm.
I would actually be in favour of a slightly more bearish scenario, but just posting this because it is possible. I lean more towards a move slightly lower down from here into the mid to low 22Ks (say 22100-500) prior to a move higher, but I am posting this because it is a possibility from here. Also fair warning, I don't really us a lot of Elliot Wave. Also supporting the "slightly more bearish scenario" would involve a trip down into the mid-to-low 22Ks which would likely lure in more bears (late bears) to short, and set up a possible bear trap, and use their money to catapult us higher. I might draw this out, but I don't think I need to atm.
Trade active:
I think we got ahead of ourselves...Move up to 23400-ish soundly rejected so far
> going with a compromise and adding on this dip with layered orders down to about 22000-ish, small orders in this vicinity. That 1 hour rejection candle is looking pretty decent if it holds.
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A slightly more bearish (correction) mod on this original idea, I do feel I need to draw it now as we are entering the 22K's proper it seems. Down to about 22K-22500-ish cause markets be fluid like that.
Same possible scenario, but we are going down first. Up is not guaranteed, so I'd go easy on leverage and position sizing...
Same possible scenario, but we are going down first. Up is not guaranteed, so I'd go easy on leverage and position sizing...