BTC Update [Trade setup]
Updated
After I saw that burst up, and now they are trying to make a triangle consolidation, I see a direction upwards to 8.5k.
However, the whales will get rid of us like its nothing by dumping once more to 8.1k. But, this is where Long players should start getting in, because that means we have w bottom, at the same time invalidating a head and shoulder pattern which whales love to pull out. But since we have a major resistance at 9.1k, I see this could be the max, and I will go short probably from here to all the way down. :))))
So for Long, Wait for another drop and making sure the support line is well supported. If it doesn't break thats when you should get in.
Long Buy 8.1k region . Target 8.8k Stop loss 7.8k
So wait for it till it drops to this region for once more of the confirmation.
However, the whales will get rid of us like its nothing by dumping once more to 8.1k. But, this is where Long players should start getting in, because that means we have w bottom, at the same time invalidating a head and shoulder pattern which whales love to pull out. But since we have a major resistance at 9.1k, I see this could be the max, and I will go short probably from here to all the way down. :))))
So for Long, Wait for another drop and making sure the support line is well supported. If it doesn't break thats when you should get in.
Long Buy 8.1k region . Target 8.8k Stop loss 7.8k
So wait for it till it drops to this region for once more of the confirmation.
Note
That seemed like a fake break out downwards. They would have dumped it already by few hundreds points if they wanted to. don't fall for short atm.Note
What could happen is, they could deceive us once again, making it to pretend like it got out of descending channel and we started a bull trend. NO... we need to see 0.618 retracement at least, 7800, which could bounce off but I don't think so. My bottom is somewhere 7.2~ 7.5k, max to 6.5k for a ultimate double bottom
Note
we will probably see 7.8k Max. before we go up so hold itNote
as you see, I predicted it would go out of the channel. Those institutional people will make you retail buyers buy cause clearly you saw that breaking up so it makes sense, but don't be deceived.
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