I noticed that the range of consolidation before the last two structural breakouts went from 80 bars to 60 bars.
There also is a consistent 16-18 bars after the second retest on prior support in both ranges of consolidation. Prior to a breakout of the resistance area created within the range of consolation.
I dont believe this is enough information to create a bias on a trade, however its something interesting that i noticed and I would like to monitor it, to see how it plays out.
If what I'm seeing is a constant pattern of sorts, then the highlighted green area should be the place where we can expect another breakout if BTC is genuinely creating new highs, and Buyers are taking over the market.
11:29am 10/10/20
There also is a consistent 16-18 bars after the second retest on prior support in both ranges of consolidation. Prior to a breakout of the resistance area created within the range of consolation.
I dont believe this is enough information to create a bias on a trade, however its something interesting that i noticed and I would like to monitor it, to see how it plays out.
If what I'm seeing is a constant pattern of sorts, then the highlighted green area should be the place where we can expect another breakout if BTC is genuinely creating new highs, and Buyers are taking over the market.
11:29am 10/10/20
Comment:
Price moved below short term support area, waiting for blue demand zone for an entry.
Comment:
Blue Demand Area was retested 3 times, allowing for entry opportunities. Entered off of the second retracement. We are looking at good profits, and a genuine continuation of the uptrend.
Now would be a good time for profit taking, or at the very minimum to put a stop loss at break even, or in profit to secure some gains.
The crypto markets are speculative and massive volatility is not something to be suprised about.
Now would be a good time for profit taking, or at the very minimum to put a stop loss at break even, or in profit to secure some gains.
The crypto markets are speculative and massive volatility is not something to be suprised about.
Trade active:
50% of initial position taken as profit. Allowing the rest of this trade to run long term, with a stop loss in profit at 11600.00
Trade active:
Price has broken above 14,000 at higher highs than we have seen in years. Stop losses can be moved into higher profit around 12,450.
Trade closed: target reached:
BTC hit above 16000 after we entered our trades around the 11210 price areas. Phenomenal trade. Exiting all positions. Keeping an eye on price, there really hasnt been a decent sized retracement so i am getting cautious. Much love to all who profited off of this analysis. See you in the next one.