MM has dumped its ALTs: Short
Updated
-Indicators look like there will be a short term correction.
-H&S formation will close off and there is a good chance it will go up with a similar formation in April. Volume looks ok but who trusts the exchanges right?
-Concern is the ALTs have been dumping. BCC in particular is looking lackluster. Lack of interest from the weekend worriers as the WC and TDF are on - not that the bots care.
-6300 might hold but I'm expecting a third touch at 6000 then i'll watch who is buying the ALTs - if the bots are gunning for it then I'm in.
Mid term forecast is 3 months in the 6000 to 7500 range. Yep, a long drawn out bottom. Waiting for the bottom of the range to buy back in. Expecting a bullish 2019.
Best, Hard Forky
-H&S formation will close off and there is a good chance it will go up with a similar formation in April. Volume looks ok but who trusts the exchanges right?
-Concern is the ALTs have been dumping. BCC in particular is looking lackluster. Lack of interest from the weekend worriers as the WC and TDF are on - not that the bots care.
-6300 might hold but I'm expecting a third touch at 6000 then i'll watch who is buying the ALTs - if the bots are gunning for it then I'm in.
Mid term forecast is 3 months in the 6000 to 7500 range. Yep, a long drawn out bottom. Waiting for the bottom of the range to buy back in. Expecting a bullish 2019.
Best, Hard Forky
Note
60% Expecting this to hold - 6,200 bounce. 40% Fail - no support followed the pumps which left the MM at risk - pushing the market back up will not necessarily get much in the way of new buy in.
Note
We've reached 6,200.I'm considering my options mainly at 6000 to 5950 (based on FIB) in line with this idea's expectations (bouncing between 6 and 7.5k)
Concern is that there is limited buy interest and not enough sellers at this mark for the MM - dip below 4800 would do it. If the pace of the sell off reduces and we ease into 6k I hope to be ok
Note
Idea still on track - looks like I accurately predicted the top trend-line off localised patterns rather than the longterm one (which would have been smarter). 1100001101010100101 after a while I swear you can read the Market Maker's moves ;)ride the channel
Related publications
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.