Hi Traders,
Looking forward to the coming week for some exciting moves to play out!
Now looking at how BTC has moved since the Short entry @20.2k - we are in a winning trade so far and i have moved SL to ENTRY (as the likelihood of a move back above 20k should not take place)
I have removed technicals form the drawing as in recent posts for simplicity but it is lining up for another big move any time now, we are just waiting on a catalyst in the stock market (or some macro new event).
Currently bulls may be lured in to the highlighted rectangle for a potential W pump upwards, but as i strong belief - pattern trading as a whole, especially small TF SHOULD NOT BE TRUSTED nor used as its just guess work.
We are likely waiting for todays US markets too open and see how they react, downward is highly probable given asian markets have done so.
So we may have more ranging in up to the 19.6k area, one could add to shorts/open new if they missed to 20k area.
In general, looks very possible we are in the beginning stages of the gradual sell off, be it over an extended duration or acceleration speed.
Goodluck,
Asset Mastery
Looking forward to the coming week for some exciting moves to play out!
Now looking at how BTC has moved since the Short entry @20.2k - we are in a winning trade so far and i have moved SL to ENTRY (as the likelihood of a move back above 20k should not take place)
I have removed technicals form the drawing as in recent posts for simplicity but it is lining up for another big move any time now, we are just waiting on a catalyst in the stock market (or some macro new event).
Currently bulls may be lured in to the highlighted rectangle for a potential W pump upwards, but as i strong belief - pattern trading as a whole, especially small TF SHOULD NOT BE TRUSTED nor used as its just guess work.
We are likely waiting for todays US markets too open and see how they react, downward is highly probable given asian markets have done so.
So we may have more ranging in up to the 19.6k area, one could add to shorts/open new if they missed to 20k area.
In general, looks very possible we are in the beginning stages of the gradual sell off, be it over an extended duration or acceleration speed.
Goodluck,
Asset Mastery
