-Yurlo (Please hit that like button for me) 👍
I understand I've made many different bearish TA's while price has remained to go up (sometimes I'll be wrong & there's no trader in the world who's 100% right every trade ~ unless you're involved with inside trading and get the following priced in moves before they occur.
Thus being said, we've now tapped the $10620 cme gap (which was always a possibility even if you we're bearish from $9950 - $10450.
Will we continue to leg up or will we start to find a local top and range back down towards $10,000? Or do we tap the 50 day ema at $10815 zone before buyers reach an exhaustion point?
Time will tell and I'm not certainly going to sit here and tell you it's 100% going down or 100% going up because that's not how trading works at the end of the day.
These markets have consecutive cycles that are mathematically designed to tap into your emotions and make you see things that aren't really there (haven't been painted on the charts ~ your mind is creating these scenarios in your mind to "confirm" the bias that your mind "thinks" will happen, but not actually what WILL happen.
I've created a few different possible directions that
BTC can go from here ~ I'll let you guys as traders decide which is most appealing to your eyes (you should already be making your own TA ~ the only person that will ensure you become a future profitable trader is yourself. Never stop learning, be consistent, be level headed, think logically, etc.
Bullish scenario: Bitcoin breaks $10850 and break $11000 shortly after
Bearish scenario: Bitcoin rejected $10700 - $10850 and beings to find a local top before heading to fill the cme gap at 9600, which is also 0.382 fibonacci level (9515)
~which i can't see markets not testing before actually seeing a TRUE bull run to ATH.
Now I'll let the markets do it's thing and sit back.
I understand I've made many different bearish TA's while price has remained to go up (sometimes I'll be wrong & there's no trader in the world who's 100% right every trade ~ unless you're involved with inside trading and get the following priced in moves before they occur.
Thus being said, we've now tapped the $10620 cme gap (which was always a possibility even if you we're bearish from $9950 - $10450.
Will we continue to leg up or will we start to find a local top and range back down towards $10,000? Or do we tap the 50 day ema at $10815 zone before buyers reach an exhaustion point?
Time will tell and I'm not certainly going to sit here and tell you it's 100% going down or 100% going up because that's not how trading works at the end of the day.
These markets have consecutive cycles that are mathematically designed to tap into your emotions and make you see things that aren't really there (haven't been painted on the charts ~ your mind is creating these scenarios in your mind to "confirm" the bias that your mind "thinks" will happen, but not actually what WILL happen.
I've created a few different possible directions that
BTC can go from here ~ I'll let you guys as traders decide which is most appealing to your eyes (you should already be making your own TA ~ the only person that will ensure you become a future profitable trader is yourself. Never stop learning, be consistent, be level headed, think logically, etc.Bullish scenario: Bitcoin breaks $10850 and break $11000 shortly after
Bearish scenario: Bitcoin rejected $10700 - $10850 and beings to find a local top before heading to fill the cme gap at 9600, which is also 0.382 fibonacci level (9515)
~which i can't see markets not testing before actually seeing a TRUE bull run to ATH.
Now I'll let the markets do it's thing and sit back.
Trade active
Magnet to $10400 do your thing (200 day ema ~ 15 min chart)
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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.