Bitcoin
Short
Updated

ridethepig | Variation of Flow & Profit Taking

7145
📌 ridethepig | Variation of Flow & Profit Taking

When in the much disputed variation of covering partial longs, we can look for some shorts to play the pullback towards +/- 48,000 of an incomplete (iv) in a 5-wave sequence.

This point of view is based on a complete and understood notion in the concept of an underlying impulsive nature to the move. For this, we need to simply stick to the fib itself: the 261.8% has been our impulse target, so we need to track for signs of a turn which is the current situation at the top of our map. This is important and should be used as an area to do some profit taking/covering under any circumstances for those holding from way below.

ridethepig | The Capitulation


ridethepig | BTC for the Yearly Close


ridethepig | BTC Market Commentary 2020.11.21


The significance of resistance here in a situation where we are at approximately 60% bull market in the macro chart is a (3) wave temp high inside a (5) wave sequence. As well as creating energy for another slingshot later in the year, it is intimately linked to the manoeuvre handled by sharp sellers outguessing a temp high.

Thanks as usual for keeping the feedback coming 👍 or 👎
Note
snapshot
Note
Eyes on the pivot level for the European morning, with a pinch of luck we will get the dominos and break down.

snapshot
Note
Eyes here for NY

snapshot
Note
-7.5% and counting today!
Note
snapshot
Trade closed: target reached
TP1 HIT!
Note
snapshot
Note
We are closing the daily right on our 54,000 pivot. Very telling.

snapshot
Note
For those following the BTC iterations:

High of the Quarter?
Note
Heads up as we approach 42K

snapshot

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.