I'm an amateur, so please do your own research and risk management.
Bitmex, 1D, XBTUSD.
1. What if the green candle on the 23rd of Feb was a fake-out? It was weekend, low liquidity, the favorite hunting territory for whales. There was a hidden bear div. It also was rejected with a big 12% red candle on day later. This would mean that today we are at the top of the range with 3.9k. There will be some SL hunting and maybe another fake out in coming weekend.
2. A drop from 3.9k of 10% would touch the bottom of the triangle. It would also clear the SL below 3530. After a few days of consolidatie and SL hunting we would slowly go to the top of the triangle.
3. From the top (3.7k at that moment) we will drop out of the bearish triangle / bear flag. Height of the triangle is also the target.
4. 34% drop in a week or so would bring us to the purple trendlijn which starts in Feb 2018 were we got a massive drop an V reversal. This trendline will be sitting around the yearly(?) horizontal level of 2.5k formed in mid 2017. From here some consolidation before moving up to 3k which became resistance.
Comments and suggestions are welcome.
TheSource
Bitmex, 1D, XBTUSD.
1. What if the green candle on the 23rd of Feb was a fake-out? It was weekend, low liquidity, the favorite hunting territory for whales. There was a hidden bear div. It also was rejected with a big 12% red candle on day later. This would mean that today we are at the top of the range with 3.9k. There will be some SL hunting and maybe another fake out in coming weekend.
2. A drop from 3.9k of 10% would touch the bottom of the triangle. It would also clear the SL below 3530. After a few days of consolidatie and SL hunting we would slowly go to the top of the triangle.
3. From the top (3.7k at that moment) we will drop out of the bearish triangle / bear flag. Height of the triangle is also the target.
4. 34% drop in a week or so would bring us to the purple trendlijn which starts in Feb 2018 were we got a massive drop an V reversal. This trendline will be sitting around the yearly(?) horizontal level of 2.5k formed in mid 2017. From here some consolidation before moving up to 3k which became resistance.
Comments and suggestions are welcome.
TheSource