After publishing yesterday's Wycoff pattern, it does appear we did confirm the Spring bounce in Phase "C"
It also appears to be moving a little faster than our markup on the chart, so some caution is advised here.
Again, this will not play exactly to the pattern but it should show some signs that will allow us to capitalize off of this move.
We are looking to begin our Long entry for a short term and long term swing based on the following parameters:
-Entry: Enter on pullback to $33,500-$33,850
-Target 1: Targeting previous automatic response/rally zone between $39,750 & $41,500
-Target 2: $43,150
-Target 3: $49,500
-Target 4: Previous All Time High
Trade invalidated with two 4 hour candle closes below yesterday's spring low point ($30,800).
Follow this thread for daily updates into what we are doing with this trade!
While being heavily shorted the past few weeks, the tides seem to be shifting to accumulation and run into the next phase to finish off this Bull Cycle into year end. When it becomes this easy to short at resistances, it is typically time to flip the script. We have also been extremely well below the stock to flow model for some time now. Though, that is not 100% accurate, it does form some point of reference of where BTC should be based off pure supply and demand.
We are very confident that this bull run is in fact, not even close to being over.
We congratulate the bears up until this point on their successes, however we advise them to take their profits as it is now the Bull's turn!
It also appears to be moving a little faster than our markup on the chart, so some caution is advised here.
Again, this will not play exactly to the pattern but it should show some signs that will allow us to capitalize off of this move.
We are looking to begin our Long entry for a short term and long term swing based on the following parameters:
-Entry: Enter on pullback to $33,500-$33,850
-Target 1: Targeting previous automatic response/rally zone between $39,750 & $41,500
-Target 2: $43,150
-Target 3: $49,500
-Target 4: Previous All Time High
Trade invalidated with two 4 hour candle closes below yesterday's spring low point ($30,800).
Follow this thread for daily updates into what we are doing with this trade!
While being heavily shorted the past few weeks, the tides seem to be shifting to accumulation and run into the next phase to finish off this Bull Cycle into year end. When it becomes this easy to short at resistances, it is typically time to flip the script. We have also been extremely well below the stock to flow model for some time now. Though, that is not 100% accurate, it does form some point of reference of where BTC should be based off pure supply and demand.
We are very confident that this bull run is in fact, not even close to being over.
We congratulate the bears up until this point on their successes, however we advise them to take their profits as it is now the Bull's turn!
Comment:
We will jump on any dip this week to the $37,500 range. This has played out perfectly but we missed entry by about $1,000!