On the weekly BTC finds itself within a thick ichimoku cloud. Bulls will like to test the upside boundary of the ichimoku cloud, but a correction to the downside seems likely. If we test 6530 support and hold then we will restart the upwards movement. On the contrary if we fall below 6530 then BTC heads back to 3500-4500 area.
As expected BTC has continued with its bullish pattern and successfully completed 5 waves up. We have Broken through resistance at 6530 and next major resistance is in the 8500 area. On the weekly we are within a thick ichimoku cloud influence area. We have had almost 3 months of medium to high volume bullish movement. Certain amount of retracement seems likely at...
BTC has shown sign of continuing on its bullish pattern. After forming a higher low on the 4 hr chart we saw a rise in price today, suggesting a new set of five wave pattern towards the upside. Here I am drawing out my proposed route to the 7k TOP.
Key Level. Lots of short sellers. First Major Resistance of Bear Market. Profit Taking. $FREEMONEY (if i get liqudated i will flip perma-bull and long the dips)
On the weekly XBT chart on Bitmex I have circled some doji candles. I have circled the doji's at the end of a trend. As you can see after each doji there was a trend reversal, or if you don't wanna say trend reversal you can call it opposite direction for 1-2 weeks.
We have just formed what is appearing to be another doji candle at the end of a downward trend,...
We are in a clear downtrend is for sure but I am thinking before that we need go up a little bit to get "fomo" longs and rekt them later to fuel up our dump
My plan is to trade this volatility regardless of direction and is simply involves setting both a buy and sell order $40 above and below daily open market price, each with a stop loss at the daily open price, then at the end of the day close the positions and set up for the next candle.
The logic being that on any given day no-one really knows which way XBT will...
BTC will test lows at around 3200 dependant on exchange, possible play for a higher low but that seems to obvious...
Looking for a fake out to the downside with a wick hitting around $2984 on the exchange Bitmex, but around 3k is the bottom for most exchanges then a move to test 6k (previous market structure).
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