After the rejection at 10k I believe we could be heading back to the 7k range and finish filling out the triangle. Price is holding above the 12 hour cloud so there's also the possibility price consolidates over the cloud and then breaks downward through the kumo twist and down to 7k. Depending on if we enter the 12 hour cloud I might take a short position. If price holds I will short after a move towards the kumo twist. If this happens and price bounces at 7k, I am very optimistic about price as it should break the triangle upwards. Something is definitely in progress with bitcoin but it is hard to say exactly what and this was my thought after looking for a while but feel free to leave other ideas or different scenarios.
Trade active:
The 12h cloud was broken and we just closed inside. Should be headed for 8.4k. I am opening my short now.
Trade closed manually:
Had a pretty nice short however the 12h cloud had held very good and with Bitcoin consensus coming up I think we'll see a rise in price so the short has been closed.
Comment:
I did end up reopening a short at the break of consolidation around 8.4-8.5k. Looking to ride down to 7500ish
Trade closed: target reached:
Looking to close my short soon and open a long. W're at the bottom of the triangle so I'm looking for a bounce soon.