My ideal price action for the upcoming week: - Paint the double top (already there) - Sweep lows/tight stops, retest $10k - Trap breakdown shorters - Rocket fueled, off we go!
If the last pump fractal holds, expect little resistance at the 1.272
All my recent trading has been based off this fractal from last year. I believe China and India are just lame excuses to justify price going up.
If we dip down low, longer time fractal might be in play. If not new highs could be happening early next year.
Overall I dislike the sentiment in BTC. Still to many people bullish and willing to buy a dip. I was previously looking at the 580-600 area to buy. But I don't like the way price is reacting so far. I heard a lot of people saying; everybody is looking to buy 590, so we might not get there. Well if everybody buys 590, but price gets pushed lower aggressively,...
Explanation is on the chart. Adjust your stop loss and position according to your account size. BIG BETS BRING BIG LOSSES don't be like @ibankbitcoins, set a stoploss!
Looking to long 435-430 if this scenario unfolds
Looking for BTC to move down a bit into this mitigation block. Would also be a good move to run stops. From here we could see a move to the Daily bearish OB at 430, which also more or less lines up with the longer term trendline in red. I've trimmed some of my position at 408 avg. Also had a look at TTSI which peaked at 55%, this is dangerzone in my book if it is...
This is what I'm looking at for BTCUSD3M on OKcoin. We have the area 360-365 which is a +OB, nice confluence with FIB OTE. We recently made two pretty much equal lows.We should have liquidity below, people who got in at +-360 and moved there stops below these recent lows are an easy target for the MM/woodchipper. If we hit this area and trade away from it...