Personal experience tells me we are more then likely to bear trap before any significant dump. The price is more then likely to have retest 25k+ an impulsive swing up possibly before a swing down. Good Luck!
Comment:
To clarify the reason why I highlighted the two fractals is that it's too obvious for a reversal. Strong probability smart money will push higher and shift market sentiment once again.
Comment:
I believe the price will continue to echo impulsive candles. I am bullish over 23.5k. (price might still swing a little lower) However we need candle close confirmations first. Expect highly erratic price movement before any massive swing in one direction.
Trade active:
Institutional Frenzy. My position is long 23.8k. TP 25k , 25.5k , 26K SL 23,377
Comment:
SL readjusted at the last moment to 23211. Call me stubborn but I really am convinced 25k+ is probable still.
On the flip side I could just be flat-out wrong and the smart money was able to shake me out my short from the previous idea so we'll see.
Trade closed: stop reached:
Stopped out ._. and to add insult to injury PA might reverse near my SL. I will update the post after a daily close as I still think the general idea of price going 25k+ is still in play. Time will tell.
Comment:
23k Holds expect 25k+
If that fails expect a cascade of dumps
First confirmation would be for daily to close above 23k.
Secondary confirmation would be a consolidation above support 4-8 hours after daily close.
23k Holds expect 25k+
If that fails expect a cascade of dumps
First confirmation would be for daily to close above 23k.
Secondary confirmation would be a consolidation above support 4-8 hours after daily close.
Comment:
>.>'' Really wish I held that short. Anyways price action looks like it can fall off a cliff but who knows. I personally think the top is between 25-28k. And on top of that some reasoning behind the logic.
