12/08 Bitcoin's Intra-day Plan
Updated
Just a quick update for you all, on a LTF as we see the formation of a larger ascending triangle, as highlighted in my previous post.
I see a historic fractal on the daily in which the following day will have a tightened range as volatility is reduced. Volume has taken a sharp decline as traders await the next direction. Naturally in the market today, we will see an expansion in price as spot purchasing drives up price. It is then towards the top of the range we must assess at which force the bears step up.
Therefore a relief move in a 5, 7 count, taking us up to potentially 11.9k, here I will flip short.
FAQ:
1) T1 & T2 provide targets of the 5th and 7th wave count (if we get an extension).
2) Range high un-tapped liquidtity: Set stink asks here incise of any deviation of the range in which you can pickup positions at a discount to true price.
Much Love,
Anon.
I see a historic fractal on the daily in which the following day will have a tightened range as volatility is reduced. Volume has taken a sharp decline as traders await the next direction. Naturally in the market today, we will see an expansion in price as spot purchasing drives up price. It is then towards the top of the range we must assess at which force the bears step up.
Therefore a relief move in a 5, 7 count, taking us up to potentially 11.9k, here I will flip short.
FAQ:
1) T1 & T2 provide targets of the 5th and 7th wave count (if we get an extension).
2) Range high un-tapped liquidtity: Set stink asks here incise of any deviation of the range in which you can pickup positions at a discount to true price.
Much Love,
Anon.
Note
This was very much rough around the edges as I wanted to get something out into the daily close last minute, due to the bullish engulfing candle. If I'm honest I think the move up can be higher and quicker.Note
To be honest, I am expecting a harder, higher relief, with a slight pull-back the following day.Note
Sometimes, simpler TA is better:- 2 waves accurately predicted so far. 👌
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.