How I f@cked up with BTC: what's the next move?
Friends,
My yesterday's forecast had failed because it was not aligned with my own long-term market vision. The lesson learned: I should always check the global vision even when trading intraday.
WHAT WE HAVE: The price dropped to 44500 covering the gap of 45-47 formed during the last weekend - that was technically expected: the gaps must be covered sooner or later.
WHAT MAY BE HAPPEN: Considering the strong resistance area formed on 44000-44500, we may see 3 following scenarios till Monday:
1. Price ranging in the area of 44000-45000 with SL hunt both sides, and on Monday there will be range breakout supposedly in upside direction (I see the high probability of this scenario)
2. Immediate coming back to the latest range of 46500-48300 on Friday (I see an average probability of this scenario)
3. Price will drop down to 41500-42500 area after daytime ranging ( I see a low probability of this scenario)
Take care of your deposit and respect the risk management - that's the key.
Please follow me and support my trade ideas!
My yesterday's forecast had failed because it was not aligned with my own long-term market vision. The lesson learned: I should always check the global vision even when trading intraday.
WHAT WE HAVE: The price dropped to 44500 covering the gap of 45-47 formed during the last weekend - that was technically expected: the gaps must be covered sooner or later.
WHAT MAY BE HAPPEN: Considering the strong resistance area formed on 44000-44500, we may see 3 following scenarios till Monday:
1. Price ranging in the area of 44000-45000 with SL hunt both sides, and on Monday there will be range breakout supposedly in upside direction (I see the high probability of this scenario)
2. Immediate coming back to the latest range of 46500-48300 on Friday (I see an average probability of this scenario)
3. Price will drop down to 41500-42500 area after daytime ranging ( I see a low probability of this scenario)
Take care of your deposit and respect the risk management - that's the key.
Please follow me and support my trade ideas!
Trade active:
Well, the 2nd scenario played out - we immediately came back to retest 46500, couldn't break it, for now, we're swinging somewhere in between 45500-46500
Trade closed: stop reached:
Wrong
