Hey all -
Hope you're all having a great night/morning!
BTC hasn't been making this easy on us.
GOOD.
So..
Looks like we have some Bullish Divergence here..
Next node on the VPVR is around the $8.9K area
Money is obviously leaving... BTC dominance is rising, people are cashing out their alts and most likely cashing out their BTC.
1. Selling your BTC for cash before the halving?
2. In the state of global financial markets?
3. ...
Anyway.
I'm confident my Gann Fan is correct, and that 8:1 is acting as decently strong resistance. It's been tested 3 times already on the 30minute, breaking through will take some momentum away, but we'll at least get up to the next node at $8.9K on the VPVR.
If we stayed above it (the 8:1 Gann), I think we could have made the case for BTC hitting the $9.4K target of the previous breakout.
Decent trade opportunity, at 1.8% possible move up before reaching the apex of the right shoulder of the HEAD and SHOULDERS Bearish pattern.
ICHIMOKU will allow it.
We'll see what it looks like from there, but right now -There's nothing convincing saying we won't hold at the bottom MACRO trend line (yellow dashed).
CME Gap - we could wick down and fill this.. But unless there's a huge dump, staying there shouldn't happen.
QUESTION - What do you think that wick down was from?
Bots hunting stops? If so.. maybe it's a sign we're getting a lil pump up?
Anyways -MY PLAY:
Play the break out, beware of the fake out. Bots are some tricky MFers.
LONG: Scale in. Starting after PA moves past the 8:1 @ $8755
TP1: $8.9K - change % depending on what our MOMENTUM looks like.
If we're losing it -I'll TP 100% and look to enter a short.
SHORT: Break below the 61.8 Fib RT, same entry strategy as above.
See how far we go, and look to enter a long.
Trade Idea to follow -we'll see how this plays out. I could be way off..
Happy Trading!
Hope you're all having a great night/morning!
BTC hasn't been making this easy on us.
GOOD.
So..
Looks like we have some Bullish Divergence here..
Next node on the VPVR is around the $8.9K area
Money is obviously leaving... BTC dominance is rising, people are cashing out their alts and most likely cashing out their BTC.
1. Selling your BTC for cash before the halving?
2. In the state of global financial markets?
3. ...
Anyway.
I'm confident my Gann Fan is correct, and that 8:1 is acting as decently strong resistance. It's been tested 3 times already on the 30minute, breaking through will take some momentum away, but we'll at least get up to the next node at $8.9K on the VPVR.
If we stayed above it (the 8:1 Gann), I think we could have made the case for BTC hitting the $9.4K target of the previous breakout.
Decent trade opportunity, at 1.8% possible move up before reaching the apex of the right shoulder of the HEAD and SHOULDERS Bearish pattern.
ICHIMOKU will allow it.
We'll see what it looks like from there, but right now -There's nothing convincing saying we won't hold at the bottom MACRO trend line (yellow dashed).
CME Gap - we could wick down and fill this.. But unless there's a huge dump, staying there shouldn't happen.
QUESTION - What do you think that wick down was from?
Bots hunting stops? If so.. maybe it's a sign we're getting a lil pump up?
Anyways -MY PLAY:
Play the break out, beware of the fake out. Bots are some tricky MFers.
LONG: Scale in. Starting after PA moves past the 8:1 @ $8755
TP1: $8.9K - change % depending on what our MOMENTUM looks like.
If we're losing it -I'll TP 100% and look to enter a short.
SHORT: Break below the 61.8 Fib RT, same entry strategy as above.
See how far we go, and look to enter a long.
Trade Idea to follow -we'll see how this plays out. I could be way off..
Happy Trading!
Comment:
I actually think we're forming a BULLISH DIAMOND pattern here. Break up is looking better
Comment:
NAILED THIS..
Anybody trade this break down?
We're currently holding support EXACTLY at the MACRO TREND LINE BOTTOM
New LONG idea in progress!
Anybody trade this break down?
We're currently holding support EXACTLY at the MACRO TREND LINE BOTTOM
New LONG idea in progress!
