We can see BTC climbing its measured move line like a staircaseHere on the btcusd weekly timeframe chart I wanted to update my previous Bitcoin channel chart I posted now that it is clear where the breakout point will be so I could adjust the measured move line more precisely to the point of the actual breakout to give a more precise target at the same time. I didn’t change the trajectory angle of the measured move line one bit, I simply moved it from my rough estimate of where we would break up from the channel to where we actually did break up from the channel. In doing so, it instantly became clear to me that just like both Tron and Ethereum have recently been doing, Bitcoin too is climbing up its measured move line like a set of stairs with the dotted line as usual acting almost like a magnet for price action. Full target for this channel should take price action to around 82.2k! *not financial advice*
Magnet
4000SPX is magnet for Friday 9AMQuick follow up to my 1-3 month analysis found here.
My vol premium selling thesis from that analysis has footprints in the SPX options chain.
This can be seen in the JAN20 SPX expiry 4000 strike.
The amount of puts and calls could theoretically cancel each other out but over 300k options on the strike.
I expect to stay in the ranges I outlined at least until Friday.
S&P dealer gamma exposure remains positive.
Today is Vix Expiration, but I think that was front run on Friday last week.
You know the drill.
Keep Calm and 4k On
weekly pivot retracement bounceI think we will perhaps see technical bounce to at least the developing pivot as we always do with new weekly pivots. however with one half day of price action remaining it could be brought down lower or up higher before that magnet is set in stone. So if you are playing the bounce from here you could use daily camarilla l4 as stop loss as we are currently at the l3 which is,projected range low. or alternatively you could use dca in small incriments until that developed pivot is locked in or bounce has initiated. As always pay attention to money managment and be careful. I am looking at camarilla pivots weekly and daily levels. If bounce does,work out you might secure some profits at daily h3 in the 50.8 or so area. and then developing weekly. 51.5 to 52 as it is currently and then see how it goes from there.
CTK monthly pivots trades setupsIF it comes and finds support on the H4 level H5 would be breakout target. If it losses the H3 then P and L3 at least would be target. Stops for long would be on H3 after H4 retest. or H4 for short after H3 is lost
BTC bitcoin short. mothly close pivot reversionTarget is the incoming pivot and L3 you see on chart. Keep in mind this last day of price action could adjust those incoming levels to come in both lower or higher the the monthly close. However that will only mean the retrace comes from a highe point. Easy to avoid risk by average cost entry up small to large. Or if bullish you ought to wait until the monthly pivot magnet hits to enter a long. Places where you could manage risk are the monthly H4 on chart. or also the daily/weekly H4 areas. at around 60300.
it is worth noting that btc has retrace to its newly developed pivot when price opens away from the current price or just prior to its close the last 37 out of 39 monthls. Cant really argue with those backtest stats. You could look into that yourself if curious
theta continuation conreection short scalp/swing monthly pivotWeekly pivot and monthly pivot both developing lower. Of course it could rise prior to their closing time. However they will lmost always revert to that far untested pivot following. One could buy the dip upon testing it or short swing to it with a average cost up in case it rises more leading up to the CLosure. Tarrget would be where the central pivot and/or weekly/monthly L3 comes in after this next weekly and monthly close on their respective levels.
Using camarilla pivots + cpr magnet reversion method. Weekly/monthly levels
Storj short swing monthy and weekly reversionWeekly pivot and monthly pivot both developing lower. Of course it could rise prior to their closing time. However they will lmost always revert to that far untested pivot following. One could buy the dip upon testing it or short swing to it with a average cost up in case it rises more leading up to the CLosure. Tarrget would be where the central pivot and/or weekly/monthly L3 comes in after this next weekly and monthly close on their respective levels.
Using camarilla pivots + cpr magnet reversion method. Weekly/monthly levels
xem potential long swing monthly pivot developing higher and weekly developing lower. Of course it could rise or go lower prior to their closing time. However they will lmost always revert to that far untested pivot following. One could short the rip upon testing it or long swing to it with a DCA in case it drops more leading up to the CLosure. Tarrget would be where the central pivot and/or weekly/monthly h3 comes in after this next weekly and monthly close on their respective levels.
Using camarilla pivots + cpr magnet reversion method. Weekly/monthly levels
storj weekly pivot reversion short swingThat is a deep weekly pivot forming. And those usually always get tested and pull price action right back to them once they are. It could still rise in this last day of price action before the weekly close. However it will just mean retrace from a bit higher. You could manage such a trade with averaging short entry up in increase quantities until the reversion starts. or you can simply use this as indication to be patient and do not fomo into this at the current time.
BTC INTRADAY long and short scalp setup with potential for swingShort H3 target L3 (or deeper if brave) stop losse H4
or
Long L3 target H3 (or more if brave) stop loss L4
Notes ; will likely be the first one visited that is the range reversal. Also Monthly close has a pivot developing 2k lower than this price point currently. and the developing weekly is around the L3 target. I expect all those pivots to at least get tested once formed. Which order though I cannot say for sure
Btc weekly pivot reversion swing tradeCamarilla pivots and CPR on weekly levels. It will likely test the developing purple pivot around weekly close. Because carful if targeting there instead of simply buying because todays price action could alter it to retrace from higher point. average in method might be safer. Also if bullish can wait for weekly close and buy when it tests the new weekly pivot as it likely will.
It may bounce to higher levels in low 62 to 64k area prior to weekly close. if it does the pivot retracement point will be around 58/59
FTM weekly swing scalp reversiontes ago
Camarilla pivots and CPR on weekly levels. It will likely test the developing purple pivot around weekly close. Because carful if targeting there instead of simply selling because todays price action could alter it to retrace from lower point. average in method might be safer. Also if bearish can wait for weekly close and sell when it tests the new weekly pivot as it likely will.