Bitcoin Maxed, NVT screaming waterfall ahead
Updated
G'day friends! What a great time to be alive and knowing how to trade and capitalise on these volatile crypto currency movements. We are some of the chosen few! Chosen because we chose to master it. Getting right into it, Bitcoin is at stage 7 of 7 of the Cryptonite price cycle. Waterfalls in the next 48 hours or so. The NVT indicator has broken its upwards trendline and has been in the red zone for a very long time and ready to break to the downside. Additionally we are very close to a final retest of the 50 week moving average which is very key. A great entry for a short position here with an exit signal if we close above $5600. Target down around the breakout base point of the pump candle around $4000 and possibly even further.
Clarity is power
-JA-
***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. ***
Clarity is power
-JA-
***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. ***
Note
Expecting wicks as high as $5500. We would expect the price action to challenge the resistance points in order to create the spring needed for a waterfall to begin. Note
The problem with our default mindset is we expect ourselves to be right all the time, and we LOVE to predict, why? Because it makes us feel amazing when it turns our right! Right? So we bind our ego to our opinion. In trading we can afford none of these things. Its not about being right or wrong, we should never listen to anyone's long-term predictions. Trade what you see in front of you. Have an exit strategy before you trade. Know you will lose some and win some, and the game is about having a stranglehold on losing trades and letting winning trades run with targets in place. So back to the chart... here is our updated (cautiously bullish) analysis.
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