Alternative to yesterdays bearish scenario, watching for the bounce off 200ma 4h which we got, so now watching for invalidation of bullish run. If we drop below 7450 i will revert to yesterdays bearish chart to watch for validation/invalidations at each wave point
I would recommend to close on current levels 10500-10750 at-least total of 15% of the positions.. I do believe that we will test 10150... but since im going to sleep I always prefer to take small profit just for any case if we wake up and suddenly big buys appear (also the break downwards was weaker then I thought it would be)..
SLs to profit at 11010.
A support may bring two possibilities, Reverse or Continuous Drop.
A method to judge the change of validation or strength of a support: rise percentage the support generates, if % decreases, the value of the support is weakened.
As shown in the chart, the Blue in 30M indicates the support. From the support, there were two bounces:
1st 2% rise from 11350
Symbol: Bitcoin, XBTUSD, BTCUSD
Indicator: 9 Seasons Rainbow Multi TimeFrames Pattern
Short Timeframes: Red -> Blue
Medieum Timeframes: Red Series
Long Timeframes – Context: Green Series
Long Wick Candle in 1H Timeframe
Demand Zone: 11100 -- 11350
I appreciate your like or comment. Welcome to share your idea here.
PM the author for a...
Look like we had nice push last night that didint last long we back to our yesterday trade zone breaking belowe 10700 and being save by 200ma if we manage to go below 10626 i think we could see further down move.