BitcoinShort
ridethepig | Bitcoin for FED
Updated
📌 ridethepig | Bitcoin for FED
A superb live example of sellers attacking far out on the flank! These are unusual markets to say the least, rarely has the fundamental/macro picture fitted the bill. Now the correct way to proceed is to hammer at the minor support once breached and aiming for a sweep of Jan 4th lows which are now hanging.
It is now obvious that our pivot point and trail stops held in the minor ABC inside the (iv) flow after an excellent defence. With the hurdle cleared, any weakness at the lows here should be sold into as a breakdown is quite tenable. Invalidation comes into play now above our latest 'C' at $34,888.
I hope tracking this low live has been of some use... thanks as usual for keeping the feedback coming 👍 or 👎
A superb live example of sellers attacking far out on the flank! These are unusual markets to say the least, rarely has the fundamental/macro picture fitted the bill. Now the correct way to proceed is to hammer at the minor support once breached and aiming for a sweep of Jan 4th lows which are now hanging.
It is now obvious that our pivot point and trail stops held in the minor ABC inside the (iv) flow after an excellent defence. With the hurdle cleared, any weakness at the lows here should be sold into as a breakdown is quite tenable. Invalidation comes into play now above our latest 'C' at $34,888.
I hope tracking this low live has been of some use... thanks as usual for keeping the feedback coming 👍 or 👎
Note
Hammer it home... Note
A quick update here, no surprises after completing wave 4 we exploded... 
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