$BTCUSD Long, BTFD. 4H/1D Breakdown.
Updated
I'm looking at a buy-zone of $578.00 to $583.00 right between my MA's. OBV looking healthy, %B about to cross upwards of 0.5. We may be going into a BB squeeze-- we'll need to see how this develops over the next week.
The 1D is also showing signs of the reversal with confirmation @ around the $600.00 area. Some may believe that 600's the psychological FOMO trigger which pushes price to 4000
CNY (602.00 area), but I digress.
My EW so far has been fairly accurate. We're in the process of [what I believe to be] Wave-1 of Wave-P5, which should end around the 637.00 area (1.618, Wave 1 of P1). Wave 2 (of P5) should drop price back to around 576.00 before continuing the long haul of Wave 3 (of P5). This is obviously speculation-- not prophecy.
4H Ichi is looking clean again and we should be looking at more upward movement.
1D Ichi gives us a lot of room to move up, with a flat rejection zone between $626.00 and 643.00 (which puts us in the ballpark of $637.00-- 1.618 of Wave 1 of P1).
I've been slowly building my position which I will eventually attempt to sell into the top of Wave 1 of P5.
The 1D is also showing signs of the reversal with confirmation @ around the $600.00 area. Some may believe that 600's the psychological FOMO trigger which pushes price to 4000
CNY (602.00 area), but I digress.My EW so far has been fairly accurate. We're in the process of [what I believe to be] Wave-1 of Wave-P5, which should end around the 637.00 area (1.618, Wave 1 of P1). Wave 2 (of P5) should drop price back to around 576.00 before continuing the long haul of Wave 3 (of P5). This is obviously speculation-- not prophecy.
4H Ichi is looking clean again and we should be looking at more upward movement.
1D Ichi gives us a lot of room to move up, with a flat rejection zone between $626.00 and 643.00 (which puts us in the ballpark of $637.00-- 1.618 of Wave 1 of P1).
I've been slowly building my position which I will eventually attempt to sell into the top of Wave 1 of P5.
Note
Drop to 3848 broke BB. If you caught that wick, good job. I would like to see BBW go back to sleep and more strength from %B.
Note
Support held for now, BBW winding up and BB is starting the squeeze, I believe that we will see %B bounce off of 0.5 and we'll see a green day tomorrow.
I'm aware that the upwards channel was broken by today's red candle. We'll see if 572 support will continue to hold before adjusting to whatever the market provides.
On 4H Ichi, %B in negative territory and went into O/S in the 572 area. We see a Kumo rejection and TK finally breaking through to the upside. From this point of view, it looks like we're on our way back up.
Trade closed: stop reached
What. The. Fuck. OkCasino. Bears.
Stopped out of position on OKC. Made up the losses through arbitrage.
I won't re-enter okcoin because the cards aren't even positive anymore. Gotta love Crypto.
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