Quick BTC Update May 1, 2018
Updated
Among all the mixed signals and epic battle between the bears and the bulls, it looks like BTC is on its way towards a correction wave finally (or is it).
The price is within my highlighted 'High volatility area' (orange box) so expect a very volatile price movement within this area.
I got lucky and saw an opportunity to open a small position selling right as it was about to break down and am now able to now comfortably put a stop loss above the volatility zone.
Based on the recent BTC trends trying to claw back at a bull market, I expect this to be a much longer correction wave from here on out than most would anticipate.
Expecting final correction target ~8200 but if the price is able to stay above the upper volatility zone (~9100) this target will have to be revisited and completely reanalyzed.
If you do open any positions here, prepare to get flushed out from the volatility.
The price is within my highlighted 'High volatility area' (orange box) so expect a very volatile price movement within this area.
I got lucky and saw an opportunity to open a small position selling right as it was about to break down and am now able to now comfortably put a stop loss above the volatility zone.
Based on the recent BTC trends trying to claw back at a bull market, I expect this to be a much longer correction wave from here on out than most would anticipate.
Expecting final correction target ~8200 but if the price is able to stay above the upper volatility zone (~9100) this target will have to be revisited and completely reanalyzed.
If you do open any positions here, prepare to get flushed out from the volatility.
Comment
Beginning to look a lot more like this pattern.[img]
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