Hello sailors of this ocean that we call the crypto market.
Quite a storm these days, right?
Without any further ado lets skip right to the idea.
For me the perfect scenario as of now would be a quick wick to (1) to liquidate a good % of the adventurers that are long here. I will ask you to look at (2) and (3) and consider that both structures are identical in meaning but different in strength. Look at the triangles that encapsulate the basing that is still ongoing in the second triangle. Give or take, the size of the wick from both previous strongest moves bounces exactly in the same support line which is in the ≈$42,500 to ≈$42,900 range. With this being said and seeing that (4) is now support tested 4 times on the daily and more on the hourly timeframe, we could very well see BTC test again (5) which is ≈$52,300.
I am counting on the wick at (1) and then a retest of (5).
Whatever happens next - Praise be thy lord and may he have mercy on our souls. :P
May you have a blessed holiday season and remember, crypto is a volatile market and there are risks to it. This is definitely not financial advice. Do your own research!
Quite a storm these days, right?
Without any further ado lets skip right to the idea.
For me the perfect scenario as of now would be a quick wick to (1) to liquidate a good % of the adventurers that are long here. I will ask you to look at (2) and (3) and consider that both structures are identical in meaning but different in strength. Look at the triangles that encapsulate the basing that is still ongoing in the second triangle. Give or take, the size of the wick from both previous strongest moves bounces exactly in the same support line which is in the ≈$42,500 to ≈$42,900 range. With this being said and seeing that (4) is now support tested 4 times on the daily and more on the hourly timeframe, we could very well see BTC test again (5) which is ≈$52,300.
I am counting on the wick at (1) and then a retest of (5).
Whatever happens next - Praise be thy lord and may he have mercy on our souls. :P
May you have a blessed holiday season and remember, crypto is a volatile market and there are risks to it. This is definitely not financial advice. Do your own research!
Smooth seas do not make skillful sailors.
Smooth markets do not make skillful traders.
Smooth markets do not make skillful traders.