XBTUSD has been bouncing around the last week, especially on the exchange shown. The long term charts yesterday (Feb 14) showed bull flag for long term (2 weeks to month) but with a good amount of room for price correction. We're in the middle of that correction now and it's up to each individual's risk level to decide when to enter. The profits can be high, but the levels of uncertainty and potential to quickly lose it are too if scalping.
The long term picture showed a possible correction down to 9600-9700 (See related idea) with a possible large dip to 8700-8800. It looks like we have tested the 9700 dip and are recovering, but the recovery signals are weak. Couple that with the fact this current dip dropped two support levels and has not consolidated in the prior resistance level or higher leaves more uncertainty in the air.
I have labeled the zones I've found analyzing the 15min chart with brief descriptions on graph. The indicators showing long term bull run still looking good leads to me list the high zones, rather than long term shorts.
As you can see, we are thick in the fuck if I know territory and cannot provide any advice other than it's a high risk high reward range.
PS: If consolidation holds in FIIK Land, it can be healthy sign of correcting about previous 9600-9700 zones of last week, strongly continuing the long term bull trend and cooling down the manic rise to a more sustainable growth.
Please leave any feedback to help me improve my ideas, thank you.
The long term picture showed a possible correction down to 9600-9700 (See related idea) with a possible large dip to 8700-8800. It looks like we have tested the 9700 dip and are recovering, but the recovery signals are weak. Couple that with the fact this current dip dropped two support levels and has not consolidated in the prior resistance level or higher leaves more uncertainty in the air.
I have labeled the zones I've found analyzing the 15min chart with brief descriptions on graph. The indicators showing long term bull run still looking good leads to me list the high zones, rather than long term shorts.
As you can see, we are thick in the fuck if I know territory and cannot provide any advice other than it's a high risk high reward range.
PS: If consolidation holds in FIIK Land, it can be healthy sign of correcting about previous 9600-9700 zones of last week, strongly continuing the long term bull trend and cooling down the manic rise to a more sustainable growth.
Please leave any feedback to help me improve my ideas, thank you.
