BitcoinLong
Bitcoin - Seizing a Breakout
Updated
The healthy retrace in Crypto markets clearly over. Crypto buyers leaping forward, this time rather than with that distinctive youthful arrogance and energetic flow we have a far more gentle and modest approach. To avoid any room for misunderstanding, we absolutely must dig deeper into the importance of flanking. In this position, note how sellers would be loading to their positions in disaster territory while smart money notices that they get caught out of position in rough terrain:
Once buyers stepped in (we are with smart money flanking price out from the lows), this leaves total control over the channel in play. Our opponents (in this case sellers) should never have given us the chance to seize the momentum, thus with a decisive breakout over the Christmas Holidays I began "Marching Troops to the Border" ...
The theory of our opposition is totally caught off balance with just a simple technical break; previous sellers fighting for role as leader of the channel flows by using offers into resistance areas are forced into covering. Notice how the advance has taken place from a position where sellers have not been able to mount strong barriers. The bear is condemned to die for the common good.
Well done all those riding the pig, a very clean and straight forward swing so far. The entries are going to start becoming more complex as we advance into no-mans land. Another example of the break would be as follows in LTC:
Secondly (EOS):
We shall wrap this up on the demonstrated accumulation and breakout strategy. Good luck all those in Longs across the main Cryptos. Thanks as usual for keeping the support coming with likes, comments and etc.
Once buyers stepped in (we are with smart money flanking price out from the lows), this leaves total control over the channel in play. Our opponents (in this case sellers) should never have given us the chance to seize the momentum, thus with a decisive breakout over the Christmas Holidays I began "Marching Troops to the Border" ...
The theory of our opposition is totally caught off balance with just a simple technical break; previous sellers fighting for role as leader of the channel flows by using offers into resistance areas are forced into covering. Notice how the advance has taken place from a position where sellers have not been able to mount strong barriers. The bear is condemned to die for the common good.
Well done all those riding the pig, a very clean and straight forward swing so far. The entries are going to start becoming more complex as we advance into no-mans land. Another example of the break would be as follows in LTC:
Secondly (EOS):
We shall wrap this up on the demonstrated accumulation and breakout strategy. Good luck all those in Longs across the main Cryptos. Thanks as usual for keeping the support coming with likes, comments and etc.
Note
BTC opens lower this morning as all Cryptos fall due to profit taking from both faster money spec longs and RM buyers. However, the follow through has been fairly muted with 8500 support holding (which was the 🔑 level to track for the breakout last week). The market looks set to continue trading within the $9000 - $8500 range that has contained the vol expansion so far this year.
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