Where should we set our BTC buy orders? Monitoring the drop.

We can't seem to break the downward trend and it appears a test of the low $5ks, upper $4ks is still on the menu.

I'm thinking it all depends on how Monday morning responds. If we drop fast and hard, it looks like an entry between $5100 and $4900 is possible. If our continued drop is a slow and drawn-out drop, I could see us bouncing off the top of the daily cloud around $5400.

Still a very fluid situation. Stay vigilant. Stay safe out there.

Not trade advice, DYOR.

Comment:

Zooming in on the action...

Comment:

Broke up out of the wedge but not very convincingly and potentially caused by economic uncertainty in Japan (first leg potentially by a single, large investor - see source below). This just looks like we're taking a break before a continued fall while potentially forming a double-top in the process. Still standing by my buy zones.

News source: www.zerohedge.com/ne...dip-buyer-identified

Comment:

Still moving with rising wedge.

Comment:

Broke south out of the wedge.

Comment:

False breakout, adjusted wedge. Riding support.

Comment:

Rising wedge petering out + a pretty significant bearish divergence has formed...

Order cancelled:

Closing this tracker out, never came down to where it should for a healthier retrace. Still needs a correction and with rumors of CME potentially launching on Monday, it could either push it way up or way down. Be careful if you're not just hodling.