BTCUSDT December 2023
Updated
Crypto madness! The most feral of asset class there is!
For me this rally is strong but cannot go forever. As you can see by my annotations, I anticipate a pullback. If the weekly supply gets a small mitigation then I expect the H4 demand to be able to push further into it, essentially acting as a trap for early sellers. In this scenario, it will provide a pullback that we can classify as a weekly inducement which will shift the decisional demand closer to current price.
If we get a larger mitigation, nearing 50% or more of the weekly supply then we could see a larger pullback down to the weekly demand POIs. This would be a very good buy zone and will also give us opportunities for big shorts.
Bitcoin being Bitcoin, not known for playing by the rules could break this supply flip zone, the H4 will give us the lens to confirm this so we can use the flip long for entries. Sketchy as f idea though! But hey, this is the wild west of trading so anything goes.
Summary
H4 CHoCH wlth small weekly mitigation, short term sells to the H4 demand zones
H4 CHoCh after deeper weekly supply mitigation. Potential for larger shorts down to the weekly demand. We will get plenty of entry/scale-in opportunities at the H4 demand zones as they fail (flip entry models)
If we close a H4 candle above the weekly supply then that is an indication that it is not going to hold so we could look for H4 demand zones within the weekly supply.
Bitcoin is a rabid dog off the lead. I don't really trade it but I have been asked to provide my take on the mutt so here it is. Not financial advice, trade with caution
For me this rally is strong but cannot go forever. As you can see by my annotations, I anticipate a pullback. If the weekly supply gets a small mitigation then I expect the H4 demand to be able to push further into it, essentially acting as a trap for early sellers. In this scenario, it will provide a pullback that we can classify as a weekly inducement which will shift the decisional demand closer to current price.
If we get a larger mitigation, nearing 50% or more of the weekly supply then we could see a larger pullback down to the weekly demand POIs. This would be a very good buy zone and will also give us opportunities for big shorts.
Bitcoin being Bitcoin, not known for playing by the rules could break this supply flip zone, the H4 will give us the lens to confirm this so we can use the flip long for entries. Sketchy as f idea though! But hey, this is the wild west of trading so anything goes.
Summary
H4 CHoCH wlth small weekly mitigation, short term sells to the H4 demand zones
H4 CHoCh after deeper weekly supply mitigation. Potential for larger shorts down to the weekly demand. We will get plenty of entry/scale-in opportunities at the H4 demand zones as they fail (flip entry models)
If we close a H4 candle above the weekly supply then that is an indication that it is not going to hold so we could look for H4 demand zones within the weekly supply.
Bitcoin is a rabid dog off the lead. I don't really trade it but I have been asked to provide my take on the mutt so here it is. Not financial advice, trade with caution
Note
Note
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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