X Marks the Spot
Updated
Money Man hopes that traders see how the levels take president and not only focus on the very specific scenario that he includes here, but take note.
He has been anticipating a confrontation between BTC with some bears and at a different location with some bulls. This is very risky as BTC normally goes where and when it suits the big dog himself, but Money Man has anticipated where and when BTC might be and noticed that the animals would be there too. Even just being in the vicinity would probably cause a scrap.
There are many levels on the chart, and this just illustrate how BTC is narrowing in on a decision point and how easily a move from it can be turned into a fake out and let the other side win the battle, leaving you ripping up your ticket. The Red Targets are tame, compared to the Green ones.
Conclusion: Chances are that we will not see sparks exactly on an X, but the closer we are, the bigger the fight could be and we are quite close as it is. There are many on either side of the trades around these levels, especially the 19 160 ish level. Unprepared traders could get badly hurt here. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
He has been anticipating a confrontation between BTC with some bears and at a different location with some bulls. This is very risky as BTC normally goes where and when it suits the big dog himself, but Money Man has anticipated where and when BTC might be and noticed that the animals would be there too. Even just being in the vicinity would probably cause a scrap.
There are many levels on the chart, and this just illustrate how BTC is narrowing in on a decision point and how easily a move from it can be turned into a fake out and let the other side win the battle, leaving you ripping up your ticket. The Red Targets are tame, compared to the Green ones.
Conclusion: Chances are that we will not see sparks exactly on an X, but the closer we are, the bigger the fight could be and we are quite close as it is. There are many on either side of the trades around these levels, especially the 19 160 ish level. Unprepared traders could get badly hurt here. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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