BTCUSD Daily 13, 100 CCI Fib Caution Some profit off
It is time to be cautious with Longs
Oct 20 BTCUSD at ~$67,400 almost tagged fib extention 1.618; leg C up was sl. longer than leg A up. Price had retested Apr highs, and, likely because BITO ETF's were sold for the first time, Price moved slightly above there.
As noted in Comments on previous post,, because of the above reasons to expect a stall or pullback,
I pulled the profits at $66.6k level from having added again on 10.17.21 at $59.6K level. 13CCI was breaking down lightly thu an Up trendline on CCI. today Is is cose to breaking down thru a horizonatl tl, which would show more weakness. For those, including me, who still hold some Longs, I will exit if 100CCI crosses down thru the +100 CCI line.
If BTCUSD does retrace back 38.2% I'd hope to see a re-entry Long near. The signal, as always would be 13 CCI crossing back up thru a downtndline on CCI
Oct 20 BTCUSD at ~$67,400 almost tagged fib extention 1.618; leg C up was sl. longer than leg A up. Price had retested Apr highs, and, likely because BITO ETF's were sold for the first time, Price moved slightly above there.
As noted in Comments on previous post,, because of the above reasons to expect a stall or pullback,
I pulled the profits at $66.6k level from having added again on 10.17.21 at $59.6K level. 13CCI was breaking down lightly thu an Up trendline on CCI. today Is is cose to breaking down thru a horizonatl tl, which would show more weakness. For those, including me, who still hold some Longs, I will exit if 100CCI crosses down thru the +100 CCI line.
If BTCUSD does retrace back 38.2% I'd hope to see a re-entry Long near. The signal, as always would be 13 CCI crossing back up thru a downtndline on CCI
Comment:
13 CCI now has HTLB horizontal-trendline-break, a down signal w added weakness from first break down thru red TL. Keep an eye on 100 CCI. If that drops inside +100 line, or if price beelow -38.2%, I'll exit the little still Long
Comment:
Keep in mind the retrace toward -38.2% in this wave setup is usually a zigzag down-up-down