ETHBTC: A weekly correction if we hold .056 stats
We are forming a bullish Bat harmonic on the weekly time frame with a weekly 9 on the TD sequential system. However, this is only true is we hold 0.056 stats. I would look for a daily reversal signal today to enter this trade. Just an idea look at for. At this point, the trade is NOT active unless we see some reversal signal on at least the 4hr (daily much more preferred).
Confluence of technical signals, make this a good trade (if we reverse and hold 0.056 only!)
Confluence of technical signals, make this a good trade (if we reverse and hold 0.056 only!)
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On the daily we are on a 7 of 9, so perhaps we may need to wait 2 more days to see a reversal. Week is also just starting so this week might indeed be the reversal week. Everything really depends on what happens with BTC and if we finally correct off this ETF rumor.
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Daily RSI is also definitely oversold. Again, depending how BTC ends the day, we may even see a bounce playing out today. Wait for the reversal to enter the trade.
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Im the buy zone, but i would not enter until 8pm close with the next day trading above today. It gives a lower RR, but it feels like a safer trade. If you wanted, you could enter here.
I'm very curious to see now what will happen the the Bitcoin ETF has been postponed. I suspect that all of the alts start bouncing back now. I have been calling for a BTC correction since about 7500, but it has not yet corrected.
Maybe this recent news finally corrects the price and we see as the price go down, people flock to the alts. I would imagine that the alts go down in USD but go up in BTC. Let's see how it plays out.
Below is the daily chart. For the bullish case, you may not want tomorrow to be a perfected 9, if you recognize the TD system.
I'm very curious to see now what will happen the the Bitcoin ETF has been postponed. I suspect that all of the alts start bouncing back now. I have been calling for a BTC correction since about 7500, but it has not yet corrected.
Maybe this recent news finally corrects the price and we see as the price go down, people flock to the alts. I would imagine that the alts go down in USD but go up in BTC. Let's see how it plays out.
Below is the daily chart. For the bullish case, you may not want tomorrow to be a perfected 9, if you recognize the TD system.
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4hr chart is looking strong. May be worth a purchase here.
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Here is the daily close in the buy zone. Also, I've shown a potential trade idea with a Risk Reward analysis. Note that the buy wouldn't happen until you actually start trading above yesterday's high.
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Another idea where you wait for the price to trade above the close from Monday
