Tight range trading on Bitcoin lately with too much overlapping, most likely a triangle but it can easily be a complex second wave.
Chances for a bounce as shorts are approaching ATH levels.
CME gaps, inline with 2/3 targets.
Chances for a bounce as shorts are approaching ATH levels.
CME gaps, inline with 2/3 targets.
Note
Will be keeping the bullish bias as long as the retracement is internal. apart of being 1-2 of the 3rd/C wave it can now be a leading diagonal targeting 70xx.Note
apart from*Note
.887 retracement is right at the developing POC @ 6.3k, that's way more often a 2nd and not a 4th wave. Bouncing there will invalidate the diagonal structure, although still possible theoretically.Note
There are many alternatives here so the recent low could be taken out and bounce (or not). If you are uncertain, dont trade OR trade with an SL on where you think you are wrong.The good thing is that there are no 5 wave impulsive moves down (yet) so this could drag into endless sideways 3s combos.
Market participation is low, volatility is low, this could go either way soon.
Mid/Long term targets to the downside are ~6k and ~5k +-200. Now, if you think it will go even lower, chances are that you are a self proclaimed time traveler.
Trade closed: target reached
First one. Precision.Note
Keep an eye on them, about 50% of Finex longs have closed.Note
Note
Im still in my long since i expect it to range here and it has at least a little push( doesn't have to make a new high). Futures gap is still "unfilled" since it got filled during the weekend. Its unlikely to see a drop today, but you never know.Will probably push one last update on the idea. Forgot to post this here yesterday.
twitter.com/AcelCrypto/status/1035983562259001344
Trade closed: target reached
All three targets hit, watch for a potential top at ~7550.Note
I keep forgetting posting here, you should check my twitter once in a while.Its probably bearish, im still on the long, will reevaluate on a potential bounce ( if it ever happens), no hedge short since it was front run.
twitter.com/AcelCrypto/status/1036974531045404673
Trade closed: stop reached
Out at 6.9. Finex chart was the only one looking bullish, not anymore.
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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.