This is very unlikely scenario for Bitcoin in my opinion. But I am still posting it, for those who dont want to buy BTC for 50k or 40k... If we will see this cycle of bitcoin sell off after 2-3 years as it was in history in 2014 and 2018, the area around this curve after 80-85% decline (10-15k USD) would be the best opportunity for buying crypto currencies.
A fair bit of movement considering volume for the bank holiday for the UK, however this was irrelevant due to American fundamentals and news moving the markets today. Seeing that large wick on the 4H chart indicates to me that we will see a correction from todays impulse. Looking to ideally ride it to previous lows from last week.
If you short the bounces this week with this week and next week expiration down to the 3880 level then the returns are in the 1000's%.
I've been calling the top the past 2 weeks, I was a little early but I was waiting for price to turn and start bouncing. That appears to be happening right now which also seems to coincide with the bitcoin crash I am predicting....
No nonsense approach simple clean price action trading all info in picture apart from the strategy (use your own SL according to your OWN risk management
THIS IS NOT FINANCIAL ADVICE, MY OWN ANALYSIS FOR PERSONAL USE)
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Follow and share for more clean ideas looking to make a change in all this guess work, want to make money and grow...
XAU USD TRADE
SELL STOP LOSS 20 PIPS
WILL TAKE PARTIAL PROFITS AT KEY FIB ZONE AROUND 55PIPS)
With good risk to reward management we will be fine even if it hits stop loss as its a tight stop loss with no silly lot size