Finally after all the choppiness we had a nice impulse! I am now looking at 2 possible scenarios, of which I prefer the bullish.
Bullish scenario: I am looking to enter a new position at the 50% and 61.8% fibs of this impulsive move. If we have just printed a wave 1 leading out of the four, we will be seeking new highs. There's heavy resistance at 11k...
Just a quick one, and very risky.
Shorting VET here as it looks like we may just have a blow off top. Hit a 0.618, lets see how it reacts.
Only using a small positon size, but will pay off if this goes to plan!
Looking for a breakdown from the intersection of the top of both these channels.
I guess the chart speaks for itself, looking to breakdown in to a H&S pattern before hitting the .5 or .618, the latter would take us to 7.2k, a target that would align with the buy zone of my previous long-term chart.
After hitting the historic trend line from which we saw BTC break down from in November 2018, we're now looking to retrace back to the support that held us at 3k.
If this support holds we should see a low in August/September of this year. Fibs point to the next logical step at 30k, which would take us again to the same resistance recently encountered.
As we are all aware, various points of resistance have been eaten up like snacks by bulls the past few days, but bears get hungry too, right?
Looking for a top around $8,490 on BITMEX:XBTUSD , which would take the price up a further 5% from its current level. Following the break of the parabolic curve I am expecting a quick downturn to the 0.382, before further...
My last position from 168 - 207 recently closed and now looking for new entry following retracement.
Price still remains within curve and rose much quicker than I originally anticipated, likely due to BTC holding on support.
Possible further extension to 238, should ETH move back to Nov '18 levels.
SL: 182 or break of curve.
Following my last post, ETH is still looking attractive for further gains.
Long from my last post opened at 168, now looking toward 192, with possible further upside to 207 should price remain within the curve.